Organic Light Emitting Diodes (OLEDs) Market size was over USD 56.43 billion in 2023 and is anticipated to reach USD 590.81 billion by the end of 2036, growing at around 19.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of OLEDs is assessed at USD 65.37 billion.
The growth of the market can be attributed to the advantageous properties of OLED, such as lightweight, flexibility, transparency and color tuning ability. Organic light emitting diodes comprise of a thin film of organic electroluminescent materials which can emit light when stimulated by electricity. Moreover, in OLED display, each pixel can change its state instantly, which makes them an ideal modern light source. Such factors are estimated to boost the market growth. Furthermore, the advancement in technology, along with rising demand for advanced electronic devices, are anticipated to fuel the market growth. For instance, it was observed that over 3.35 million units of OLED TV were shipped globally in 2020, registering a significant growth in demand for OLED displays.
Growth Drivers
Challenges
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
CAGR |
19.8% |
|
Base Year Market Size (2023) |
USD 56.43 billion |
|
Forecast Year Market Size (2036) |
USD 590.81 billion |
|
Regional Scope |
|
The market is segmented by end-user into retail, architecture, automotive, consumer electronics, security, and others, out of which, the consumer electronics segment is anticipated to hold the notable share in the global organic light emitting diodes (OLEDs) market over the forecast period on account of increasing consumer demand for OLED television screens, computer displays, smart phones, digital cameras, and others.
Our in-depth analysis of the global market includes the following segments
|
By Technology |
|
|
By Application |
|
|
By End User |
|
On the basis of geographical analysis, the global OLEDs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific industry is expected to dominate majority revenue share by 2036, impelled by presence of major companies in the region. Moreover, the lower labor and raw material cost, and presence of large consumer base in the highly populated countries, are foreseen to provide massive growth opportunity for the market.
North America Market Analysis
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing investment in advanced electronic devices, along with constant advancement in technology. Moreover, the higher disposable income in the region is anticipated to boost the market growth.
December, 2021: LG Display, launched its new OLED TV technology ‘OLED EX’, which boosts the overall picture quality and brightness up to 30% compared to conventional OLED displays.
October, 2021: OLEDWorks, to partner up with Audil (Brazil), EnlightenHome (United States), Formpost (Russia), Lumilan (China), and Luxwerk (Germany), to expand product delivery in commercial and residential sectors in these countries.
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?