An organic light-emitting diode (OLED) is made of electroluminescent layer which has a film of organic based compound that produce light. OLED display offers minimum response time, higher refresh frequencies, has deeper black levels, and is comparatively lighter and thinner than a liquid crystal display (LCD). In dark, an OLED display can attain a better contrast ratio compared to LCD, irrespective of whether the LCD is based on an LED backlight or cold cathode fluorescent lamps (CCFL).Further, OLED displays are compact, thin, has larger viewing angle and use optimal power. OLED displays are popularly used in televisions, wearable devices, healthcare products, transportation, lighting, signage, television, and medical devices.

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The global OLED display market is segmented on the basis of technology and end-user. The technology segment consist of driving electronics, electroluminescent materials, and other technology. Electroluminescent materials segment comprises of polymer OLEDs and small molecules. Whereas, driving electronics segment includes active matrix OLEDs (AMOLEDs), passive matrix OLEDs (PMOLEDs), and hybrid OLEDs (HOLEDs). Other technology includes OLED displays such as transparent, phosphorescent, top emission, stacked and flexible OLEDs. The global OLED display market is further segmented based on end-use verticals into displays, computers, digital cameras, automotive, and wearable technology. The global OLED display market is also segmented based on geographical distribution into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

PMOLED and AMOLED are the key OLED display technologies existing in the market. Even though PMOLEDs are economical and simple to construct, they are limited in resolution and size, which restricts their acceptance. In contrast, AMOLED are material intensive and costly, but they do not have any limit on size or resolution. Growing investments in the OLED marketplace and solid potential for AMOLED TVs are anticipated to drive the global OLED market during the forecast period.

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OLEDs make use of plastic-coated substrates, also known as polyimide, as a substitute of glass substrates. This makes the panels light weight, reduces size, shatter-proof and bendable, and hence increases space for batteries. By substituting thin film transistor (TFT) glass encapsulation and glass substrate with film encapsulation and polyimide substrates, panel weight and thickness can be reduced drastically. Given the growing difficulties in attaining hardware differentiation, an OLED display can prove to be a unique marketing strategy. With rising demand and awareness of greener technology worldwide, reduced power consumption, simple design and low material consumption are key customer requisites. Thus, OLED technology is benefited with increasing demand for efficient power saver products from consumers. Furthermore, with rapid industrialization, the average price of OLED displays is expected to scale down, thereby boosting the market. However, high initial manufacturing investment of OLED displays, coupled with decreasing price of similar technologies are major hindrances to the global OLED market.

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The two most noteworthy OLED applications are their use as sub-displays and displays, which form the basis for a spectrum of usage in several industries, including consumer electronics, energy, industrial automation and information technology. Lighting is also a possible OLED application. Further, OLED is also utilized at military arena as micro-screen display purpose owing to its flexibility, and for gaming screen sowing to its lightweight and high resolution display. Some of the key players operating in the global OLED market are TDK Corporation, Samsung Electronics Co., Ltd., RiT Display, Kunshan Visionox Display Company Limited, Pioneer Corporation, Sony Corporation, AU Optronics Corp., Acuity Brands Lighting, Inc., BOE Technology Group Co., Ltd., InnoLux Corporation, Koninklijke Philips N.V., LG Display Co., Ltd., OSRAM Licht AG, and RITEK Corporation among others.

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