Global OLED Market was valued at USD 21.01 Billion in the year 2017. OLED market is further estimated to grow at a CAGR of 14.27% from 2018 to 2023 to reach USD 46.79 Billion. APAC region holds the highest market share in 2017 with European region is considered as the fastest growing market in the forecasted period. At a country level, South Korea is the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.
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Samsung Electronics, LG Display, and Konica Minolta are some of the key manufacturers in the OLED market with Samsung Electronics holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly, growth strategies such as acquisition, collaboration, and expansion of the distribution network were a few techniques adopted by most of the top manufacturers in recent years.
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Grants provided by governments of different Asian countries for OLED panel production
Introduction to flexible smartphones & wearable devices
High investments required to achieve economies of scale
Adoption of OLED lighting by top automotive manufacturers
Introduction of substitute technology like QLED
The commercial segment is expected to hold the highest market share during the forecast period. With the increasing number of smartphone users, there is a demand for advanced technology in the display market. The governments of different countries are also helping the local & top manufacturers of OLED by providing them resources. Thus, OLED has a strong potential across the major countries.
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On the other hand, the automotive sector is expected to grow at the highest CAGR during the year 2018-2023. As of now, OLEDs are being used in the rear lights of some top automotive manufacturers. It is predicted that OLEDs will be used extensively in the interiors of the cars in the coming years.
Key Benefits for Stakeholders
Lighting & Display manufacturers, distributors, and retailers
Research and Consulting organization
Electronics & Semiconductor manufacturers
Display-screen glass manufacturers
Regulatory bodies, policy actors, and consumers.
Others (Smart Watches & Vehicles)
By Product Type
Others (Transparent OLED, Foldable OLED)
By Industry Type
Sports & Entertainment
Key Market Players
Samsung Electronics Co. Ltd.
LG Display Co. Ltd.
Universal Display Corporation
Koninklijke Philips N.V.
AU Optronics Corp.
BOE Technology Group Co
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