Global PMOLED Market Research Report: by Type (Transparent PMOLED, Flexible PMOLED), by End User (Display(Television, Smartphone, Tablets & Laptop, Automotive Display, Others), Lighting), by Application (Residential, Commercial, Industrial), and by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) - Forecast till 2025
PMOLED Market Synopsis
The global market for PMOLED was valued at USD 1.8 billion in 2018; it is expected to reach USD 6.3 billion by the end of the forecast period at a CAGR of 19.7%.
Passive Matrix Organic Light Emitting Diode (PMOLED) is a type of OLED which uses a simple system to control each row in the display. Pixels of a PMOLED are mostly off because they do not contain storage capacitors. PMOLED need more voltage to offer more brightness as compared to any other light. PMOLED displays are generally small in size and mainly used in wearable devices, small gadgets, and sub displays. In recent years, PMOLED displays are gaining popularity because of color vibrancy, unique contrasts, and high resolution. In addition, this type of PMOLEDs are used for industrial applications in replacement of passive LCDs in displays. PMOLEDs run on a self-illuminating technology which eliminates the need for backlighting the display module. The PMOLEDs display the same level of contrast from all the sides which is in 2000:1 pixel ratio. Moreover, PMOLEDs are extremely energy efficient and mainly used for low-power applications.
Advances in OLED technology, addition of new features, and growing investments in the development of PMOLED technology are expected to drive the PMOLED market during the forecast period. However, low market acceptance of PMOLED technology is expected to restrain the market during forecast period. The increasing number of applications and adoption in AR/VR headsets are expected to create an opportunity for PMOLED market in coming years.
The global PMOLED market has been segmented based on type, end user, application, and region. By end user, the PMOLED market has been segmented into residential, commercial, and industrial.
By application, the PMOLED market has been segmented into display and lighting. The display segment has further segmented into television, smartphone, tablets & laptop, automotive displays, and others.
By region, the PMOLED market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
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Globally, the PMOLED market has been categorized into five regions - North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Asia-Pacific is expected to dominate the PMOLED market during the forecast period. The presence of global players such as Sony Corporation, Panasonic Corporation, and WiseChip Semiconductor Inc. are expected to dominate the PMOLED market in this region. Growing population and increasing adoption of wearable technologies is also expected to drive the PMOLED market during the forecast period.
North America is expected to be at the second position and grow at a faster rate during the forecast period due to various infrastructure development projects and early adoption of the latest technologies across the region. The US and Canada are expected to dominate the PMOLED market during the forecast period.
Europe is expected to occupy the third position in terms of market share due to government initiatives fueling the production of lighting control systems and growing adoption of PMOLEDs in the industrial sector is expected to drive the PMOLED market in this region. Germany is expected to dominate the PMOLED market during the forecast period wherein the UK, France, and Italy are expected to grow at a higher rate during forecast period.
The key players in the PMOLED market are US Micro Products (US), Visionox (China), Sony Corporation (Japan), Panasonic Corporation. (Japan), Samsung Electronics (South Korea), Apple Inc (US), Accelopment AG (Switzerland), Raystar Optronics Inc (Taiwan), Japan Display (Japan), LG Display (South Korea), WiseChip Semiconductor Inc.(Taiwan), and Sharp Corporation (Japan) among others.
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