Global OLED Panel Market
Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) — The “OLED Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global OLED panel market has demonstrated impressive growth, reaching a significant US$ 35.8 Billion in 2022. Projections from industry experts indicate continued expansion, with the market poised to reach a substantial US$ 71.0 Billion by 2028, exhibiting a remarkable compound annual growth rate (CAGR) of 12.2% during the period from 2023 to 2028.
Revolutionizing Displays with OLED Panels:
Organic Light-Emitting Diode (OLED) panels are constructed from organic materials that emit light when an electric current is applied. These panels consist of a substrate, backplane, frontplane, and encapsulation layer to prevent oxygen and moisture infiltration. OLED panels offer efficiency, thinness, and flexibility due to the absence of backlights and filters, in contrast to Liquid-Crystal Display (LCD) panels. They provide superior viewing angles, rapid response times, and compact form factors while delivering enhanced image quality, vibrant colors, smooth motion, and high contrast. OLED panels are widely adopted in televisions (TVs), smartphones, handheld game consoles, computer monitors, and personal digital assistants (PDAs).
Market Trends and Drivers:
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Surging Demand for OLED Televisions: OLED TVs are gaining popularity due to advantages in viewing angles and black levels, contributing significantly to market growth.
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Rise of Foldable Smartphones: OLED panels are essential for manufacturing enhanced and foldable smartphones, further boosting the market.
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Investment in R&D: Leading market players are heavily investing in research and development (R&D) efforts to incorporate transparent OLED display panels and active-matrix organic light-emitting diode (AMOLED) panels, enhancing market prospects.
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Consumer Electronics Demand: Growing demand for consumer electronics, including computers, laptops, smartphones, tablets, gaming consoles, wearables, digital cameras, virtual reality (VR), and augmented reality (AR) devices, fuels market growth.
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Awareness of OLED Benefits: Increased awareness of the advantages of OLED displays, such as energy efficiency, sunlight readability, and easier recycling compared to LCD panels, creates lucrative opportunities for industry investors.
Key Market Segmentation:
The report presents comprehensive market segmentation:
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Type: Flexible, Rigid, Transparent
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Technology: PMOLED Display, AMOLED Display
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Size: Small-sized OLED Panel, Medium-sized OLED Panel, Large-sized OLED Panel
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End User: Mobile and Tablet, Television, Automotive, Wearable, Others
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Region: North America, Asia-Pacific, Europe, Latin America, Middle East and Africa
Competitive Landscape:
Key players in the OLED panel market include BOE Technology Group Co. Ltd., Innolux Corporation, Koninklijke Philips N.V., LG Display (LG Electronics Inc.), OSRAM OLED GmbH (OSRAM GmbH), Raystar Optronics Inc., RITEK Corporation, Samsung Display Co. Ltd. (Samsung Electronics Co., Ltd.), Sony Group Corporation, Universal Display Corporation, Visionox Co. Ltd, Winstar Display Co. Ltd., and WiseChip Semiconductor Inc.
Key Questions Addressed in the Report:
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What was the global OLED panel market size in 2022?
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What is the projected CAGR for the market during 2023-2028?
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What are the primary factors fueling market growth?
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How has COVID-19 impacted the OLED panel market?
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What is the market breakdown by type, technology, size, and end user?
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