According to the new research report published by The Insight Partners, titled “Organic Light Emitting Diode (OLED) Market – Global Analysis and Forecast to 2025”, the global OLED market is expected to reach US$ 39.0 billion in 2025, registering a CAGR of 12.2% during the forecast period 2015-2025.
The Organic Light Emitting Diode (OLED) market opportunity is constantly growing and significant capital investments are being made to facilitate competitively priced products in the coming years. The OLED displays available in the market today are still expensive but with the advancement of technology, the prices are expected to decrease. Present advancements to display performance have led to improved product competitiveness and it is anticipated that the demand for smaller displays, particularly smartphones, will grow at an instant rate. Whereas, for the large display market, the demand for flat televisions with OLED displays is expected to grow in the near future.
The two major application areas for OLEDs are in Lighting and Display. Presently, the 3 zones with major developmental efforts in flexible OLEDs are East Asia, Europe and North America.
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OLEDs are made up of polymers which emit light when a current is applied. There are various applications in which OLEDs are used such as retail, security, automotive, architecture and others. OLED technology is used in a wide range of consumer electronics including mobile phone displays, Bluetooth headsets, car audio displays, hand held game consoles, MP3 players, digital cameras, and in many other industrial applications
Leading Electric Insulator Market Players:
The key companies profiled in this report include FUTABA CORPORATION, Samsung Electronics Co., Ltd., Universal Display Corporation, Kunshan Visionox Display Technology Co., Ltd, DLC Display Co., Limited., Pioneer Corporation, Sony Corporation, Koninklijke Philips N.V., Acuity Brands Lighting Inc., SEIKO EPSON CORPORATION, Innolux Corporation, OLEDWorks LLC, LG Electronics Inc., OSRAM GmbH, and RITEK Corporation.
With the growing railway lines and seaports construction, the demand for electric insulators increases as it is used for electrification in railway lines and seaports. For instance, as of Statista data of 2020, Italy has more than 1,100 km length of only high-speed railway network, with a maximum length of 254 km connecting Florence and Rome. Further, several ongoing projects are running in the railway sector in Italy.
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Increasing adoption of Micro-displays in various verticals:
The display technology has become a ubiquitous fragment of our daily lives. A Micro-display is extremely small display measuring less than 25 mm when measured diagonally. These display units have high resolution and high density screens used by magnified display units. Micro displays were introduced approximately two decades ago. Micro displays are implemented in various industry verticals such as industrial, commercial, aerospace, military, automotive, medical and law enforcement and rescue. Micro displays are majorly used in HMDs and HUDs for military and aerospace. Micro-OLED was the pioneer in offering OLED based micro displays to military and aerospace verticals. These display units enhance the resolution of image and consume less power.
Type-Based Market Insights
remarkably promise multiple applications in flat displays replacing of obsolete technology of Cathode Ray Tubes (CRT). Global OLED market has been categorized majorly into two categories; Passive Matrix Organic Light Emitting Diode (PMOLED) and Active Matrix Organic Light Emitting Diode (AMOLED).
Application -Based Market Insights
basis of application has been segmented into OLED Displays and OLED Lighting. OLEDs are used to produce digital displays in devices such as TV screens, computer monitors and portable devices such as handheld game consoles, mobile phones and PDAs. An OLED display is capable of displaying deep black levels and is lighter and thinner in comparison to a LCD, as it does not have a backlight. OLEDs lights are comprised of semiconductor material layered between two electrodes. OLED is a combination of thin layers of green, blue and red film to release a softer white light.
End-User – Based Market Insights
OLEDs flexibility facilitates manufacturers to create OLEDs using reel-to-reel manufacturing processes, and enables the production of flexible lighting and display products. OLEDs are commercially made on rigid glass substrates. Though, applications such as bent displays or watches with flexible OLEDs have come into the market recently.
Further development of production processes and tools and better materials are required for the development of sufficiently flexible and durable OLEDs. The global market for OLEDs are segmented on the basis of end-user verticals into retail lighting, security & signage, automotive, consumer products, architecture and others (Industrial, Food, Medical etc.).
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The global OLED market has been segmented based on application, i.e., OLED display and OLED lighting. The organic displays in the market are still expensive, but prices are falling as the technology matures and volumes ramp up. Current improvements to display performance have resulted in enhanced product competitiveness, it is expected that the demand for smaller OLEDs for mobile devices, especially smartphones, will continue to grow at a healthy pace.
Key findings of the study:
- Asia Pacific is anticipated to account the largest market share of the OLED market and is expected to register a CAGR of 13.2%
- Based on the type, the AMOLED segment is expected to witness high year on year growth during the forecast period
- Countries such as China and India are expected to be the most attractive market by the end of the forecast period
North America holds the second largest market share. Within North America, the US dominates the total revenue share of the market, owing to the spending capacity of the population and being a developed economy, the country is an early adopter of the latest technologies. The country is anticipated to continue its leadership during the forecast period by acquiring 51.3% of the total North American market growing at a high CAGR.
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