Global OLED Market Report, published by Variant Market Research, forecast that the global market is expected to reach $28 billion by 2024 from $4 billion in 2016, growing at a CAGR of 28.2% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 33.8% and 27.1%, respectively, during the forecast period.
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The major factors driving the global OLED market are increasing demand for energy efficient and eco-friendly products and rise in demand for OLED technology in the automobile. Advance technology in automotive industry would provide several growth opportunities for the market in the coming years.
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The global OLED market is categorized into technology, application, and materials. Technology segment includes AMOLED and PMOLED. The application segment is further sub-segmented into displays and lighting. Electrode materials, electron transport layer materials (ETL), hole transport layer materials (HTL), emissive layer materials (EML), and substrates are the various classifications of OLED market by materials. In the year 2016, displays application dominated the market with the largest market share. AMOLED was the maximum revenue generating segment by technology. Also, substrates accounted for the largest market share in the overall OLED market by materials.
By geography, the global OLED market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific dominated the largest market share with 42.9% in 2016; due to the presence of prominent vendors such as Samsung Electronics and Philips N.V. Emergence of various Chinese vendors has also resulted in the growth of Asia-Pacific OLED Market. In the year 2016, Europe accounted for the second largest market with a total market share of 23.4%. However, in terms of growth, Asia-Pacific is anticipated to reach the fastest CAGR of 33.8%, during the forecast period from 2016 to 2024.
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Market players have used various strategies such as product launch and acquisition to increase their market share and global presence. The major players in the market include Samsung Electronics Co. Ltd., Panasonic Corporation, LG Electronics Inc., Philips N.V., OSRAM GmbH, Universal Display Corporation, Toshiba, Osram, Pioneer, Ason, Lumiotec, Konika Minolta, and others.
Scope of OLED Market
• Hole Transport Layer Materials (HTL)
• Electron Transport Layer Materials (ETL)
• Electrode materials
• Emissive Layer Materials (EML)
o Residential lighting
o Commercial and office lighting
o Outdoor lighting
o Automotive lighting
Laptops, tablets, and PCs
• North America
o United Kingdom
o South Korea
o South America
o Middle East
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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