Global Market Size, Forecast, and Trend Highlights Over 2025-2037
PMOLED Market size was valued at USD 3 billion in 2024 and is projected to reach USD 20.7 billion by the end of 2037, rising at a CAGR of 17.5% during the forecast period, i.e., 2025-2037. In 2025, the industry size of PMOLED is assessed at USD 3.5 billion.
The PMOLED market is rising at a stable pace owing to the increasing demand for wearable devices, industrial displays, and automotive applications. PMOLEDs have low power consumption, high contrast, and are flexible, making them ideal for smartwatches, fitness trackers, and compact IoT devices. In June 2023, Qingyue revealed a 20.6-inch transparent segmented PMOLED display at Display Week 2023, showing that scaling up PMOLED technology to larger commercial applications is possible. Market growth is expected to be driven by an increase in the level of integration of PMOLEDs into consumer electronics and medical displays as next generation display technology advances.
Worldwide, governments are actively supporting OLED manufacturing and research in order to fuel innovation in display technology. Samsung used PMOLED technology in its latest OLED lineup in January 2024 to improve energy efficiency and visual performance. Also, new production techniques are lowering costs and improving manufacturing efficiency to make PMOLEDs more available to different industries. The PMOLED adoption is further accelerated by government-backed subsidies and R&D investments in semiconductor and display production, especially in Asia Pacific market.
PMOLED Market: Growth Drivers and Challenges
Growth Drivers
- Growing adoption of smartwatches, fitness trackers, and medical wearables: As smartwatches, fitness trackers, and medical wearables gain popularity, the demand for PMOLED is increasing as it offers thin, flexible, and energy-efficient features. Wisechip introduced a miniature near-eye display module optimized for wearable and augmented reality applications in March 2023, highlighting the growing role of PMOLED in compact displays. The displays provide superior contrast and power efficiency and are well-suited for always-on applications. With wearable technology growing, PMOLED displays are becoming a critical technology for next-generation smart accessories. What makes them even more appealing for futuristic device designs is their ability to be seamlessly integrated with flexible and curved surfaces. However, this trend is expected to spur further manufacturing and performance optimization of PMOLEDs.
- Flexible and transparent PMOLED technology: Flexible and transparent PMOLED technology is leading the way to various applications, such as automotive dashboards, smart home devices, and AR/VR displays. In October 2023, Visionox announced foldable PMOLED displays with ultra-thin flexible substrates, which expanded the application in next-generation consumer electronics. The adoption of PMOLED in devices that require lightweight and durable display solutions is driven by these developments. Moreover, the rising demand for transparent displays in smart windows and heads-up displays (HUDs) is also contributing to the PMOLED market growth. Flexible PMOLEDs are advantageous as they are more durable and energy-efficient, being suitable for portable and wearable applications. The adoption of PMOLED in various industries is expected to be broadened as manufacturers advance fabrication techniques.
- Automotive and Industrial Applications: PMOLED displays are being integrated into infotainment systems, dashboards, and HUDs by the automotive industry, enabling better user experience and energy efficiency. In April 2023, Hyundai Mobis launched a rollable flexible display for automotive applications that allows for screen sizes suited for different driving situations. PMOLED adoption is further pushed by the rising demand for energy efficient displays in electric vehicles (EVs). PMOLED technology is also being applied in industrial automation to control panels, where increased visibility and durability in harsh environments are needed. Due to the high contrast and lightweight, PMOLEDs are expected to see strong growth as automotive and industrial sectors remain on the lookout for high contrast, lightweight displays.
Challenges
- Shorter Lifespan than other OLED Technologies: PMOLED displays have a shorter lifespan than AMOLED because passive matrix driving methods increase power consumption over time. The result is a limitation on their long-term durability in applications where the screen is used for long periods, such as in consumer electronics and automotive displays. This challenge makes PMOLED less favorable for high-end, continuously running applications, requiring manufacturers to enhance material efficiency and power management.
- Manufacturing Limitations and Scalability: PMOLED displays are primarily used in smaller screens because of manufacturing limitations and scalability to larger, high-resolution applications. Unlike AMOLED, which allows for larger panels, PMOLED is limited by its passive matrix technology to big-screen displays. PMOLED’s scalability is being improved by manufacturers working on improving panel fabrication techniques. These size limitations are being addressed by emerging deposition methods and better backplane technologies.
PMOLED Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
17.5% |
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Base Year Market Size (2024) |
USD 3 billion |
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Forecast Year Market Size (2037) |
USD 20.7 billion |
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Regional Scope |
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PMOLED Segmentation
Type (Transparent PMOLED, Flexible PMOLED)
The flexible PMOLED segment is expected to capture PMOLED market share of over 52% by 2037, owing to its increasing use in wearables, foldable screens, and automotive applications. In October 2023, foldable PMOLED displays with ultra-thin substrates were introduced by Visionox which have better adaptability for smartphones and AR/VR devices. The adoption of portable electronics is accelerating due to the demand for lightweight, bendable displays. Due to the advantages of energy efficiency and durability, flexible PMOLEDs are well-suited for next-generation smart devices. In addition, they can tolerate repeated bending without any degradation in performance. Due to these factors, PMOLED technology is expected to be adopted widely as flexible electronics become mainstream.
End User (Display Television, Smartphone, Tablets & Laptop, Automotive Display)
In PMOLED market, display television segment is set to capture revenue share of over 37% by 2037 due to increasing demand for high-contrast, energy-efficient screens. Samsung integrated PMOLED technology into its latest OLED TV lineup in January 2024, enhancing color accuracy and cutting power consumption. This transition to energy-efficient panels is in line with the global sustainability initiatives in consumer electronics. Deep blacks and high contrast delivered by PMOLED make it attractive for premium home entertainment systems. PMOLEDs are projected to continue to gain adoption in smart TVs as manufacturers increase panel longevity and resolution capabilities. This is anticipated to open new doors for futuristic television designs, enabling transparent and flexible displays.
Our in-depth analysis of the global PMOLED market includes the following segments:
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Type |
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End user |
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Application |
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Customize this ReportPMOLED Industry - Regional Scope
North America Market Analysis
North America in PMOLED market is set to dominate over 60% revenue share by 2037. Strong demand for energy-efficient display solutions in wearable technology, automotive dashboards, and industrial applications is driving the region’s dominance. North America remains a key hub for next-generation display technologies as investment in OLED research and innovation continues to increase. The PMOLED market is further growing with the integration of PMOLED displays in smart home devices and medical wearables. The rise in demand for advanced PMOLEDs is expected to increase significantly due to a shift in consumer preferences towards compact, high-contrast screens.
Companies in the U.S. are constantly introducing the latest display solutions, promoting PMOLED innovation. For example, US Micro Products launched in July 2023 its next-generation reflective PMOLED microdisplay, targeted for ultra-low power consumption and high sunlight readability. This is especially useful in cases of outdoor, battery-powered applications like smartwatches and heads-up displays (HUDs). PMOLED market expansion is also supported by initiatives of the U.S. government to bolster domestic semiconductor and display manufacturing. With display technologies becoming more flexible and transparent, U.S. manufacturers are now developing flexible and transparent PMOLED solutions to improve user experience.
With growing investments in display innovation and manufacturing, Canada is becoming a key player in the North American PMOLED market. Global OLED manufacturers are working with Canadian research institutions to develop energy-efficient and sustainable PMOLED solutions. Demand for high contrast, durable PMOLED displays is being driven by the country’s focus on smart infrastructure and automotive advancement. These are signs of Canada’s increasingly important role in the development of OLED technology. With the market expanding, Canada is going to be an important player in the adoption of PMOLED for various applications.
Asia Pacific Market Analysis
Strong demand from consumer electronics, automotive, and industrial applications is anticipated to drive the Asia Pacific PMOLED market is likely to observe growth of more than 15% through 2037. PMOLED adoption is growing rapidly across the region due to the rapid expansion of the wearable tech market and smart home displays. Manufacturers in China, Japan, and South Korea are investing continuously in R&D to improve display performance and production efficiency. Besides, Asia Pacific’s competitive edge in the global PMOLED industry is being strengthened by government initiatives aimed at fostering local OLED production. Therefore, the region serves as a key hub for innovation and manufacturing of OLEDs.
PMOLED displays are emerging as a promising market for India, driven by the growing smartwatches, fitness trackers, and digital signage market. The government’s Make in India initiative encourages the domestic manufacturing of display panels to reduce import dependency. In November 2024, Vedanta Ltd announced a USD 500 million investment in AvanStrate Inc. The investment is intended for research and development and manufacturing of advanced display glass to meet the growing demand for cost effective OLED solutions. The PMOLED market is also driven by the increasing adoption of PMOLED technology for healthcare applications like remote patient monitoring. The adoption of PMOLED is expected to grow significantly in the coming years as India strengthens its semiconductor and display ecosystem.
Asia Pacific PMOLED market is dominated by China, which has invested heavily in display manufacturing as well as flexible OLED technologies. Wisechip introduced its latest transparent PMOLED displays at the China Expertise International Optoelectronic EXPO in September 2023, which showed that the company is moving towards making ultra-thin and flexible screen designs. PMOLED production capacity is accelerating due to the China government’s emphasis on self-sufficiency in semiconductor and display technology. Furthermore, leading electronics brands in the country are adopting PMOLED panels into next generation consumer devices like foldable smartphones and smart wearables. These developments strengthen the country’s standing as an important force behind the development and adoption of PMOLED.
Companies Dominating the PMOLED Landscape
- US Micro Products
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Visionox
- Panasonic Corporation.
- Apple Inc
- accelopment AG
- RaystarOptronics Inc
- LG Display
- WiseChipSemiconductro Inc.
- Sharp Corporation
- Brunswick Corporation
Major companies operating in the PMOLED market include US Micro Products, Visionox, Sony Corporation, Panasonic, Samsung Electronics, LG Display, WiseChip, Sharp, and Japan Display. To gain a competitive edge, these companies are concentrating on new materials, better power efficiency, and flexible OLED innovations. As demand for wearable devices, automotive displays, and next-generation industrial screens increases, manufacturers are in a race to produce superior PMOLED solutions. Further advancements in the market are expected due to the increasing R&D investments in flexible and transparent OLEDs. Faster product innovation is also being generated by collaborations between display manufacturers and semiconductor companies. However, with continued emphasis on miniaturization and energy efficiency, PMOLEDs have an opportunity to remain a key display technology in emerging PMOLED markets.
PMOLED’s ability to be enhanced is also expected to increase due to AI-driven display optimizations being increasingly integrated. With increasing competition, companies that place emphasis on technological innovation and strategic partnerships are anticipated to gain a stronger position in the global PMOLED market. The energy-efficient, high-contrast display focus of the companies is attributed to the increased consumer demand for low-power, high-visibility screens. Furthermore, with the advancement of PMOLED technology, material science, and manufacturing techniques will continue to advance and improve display performance.
Here are some leading players in the PMOLED market:
In the News
- In September 2024, Wisechip announced an expansion of its production capacity for TADF/HF OLED displays. This move supports the growing demand for high-efficiency PMOLED screens in smart home and industrial applications.
- In August 2024, RiTDisplay revealed plans for a high-resolution PMOLED display designed specifically for the automotive sector. The new display aims to improve dashboard visibility, ensuring better performance in vehicle infotainment systems.
Author Credits: Abhishek Verma
- Report ID: 7097
- Published Date: Feb 05, 2025
- Report Format: PDF, PPT
