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OLED Panels Transform Consumer Electronics and Televisions, Driving Market Expansion

October 31, 2023 Audrey

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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:

Surging Demand for OLED Televisions: OLED TVs are gaining popularity due to advantages in viewing angles and black levels, contributing significantly to market growth.
Rise of Foldable Smartphones: OLED panels are essential for manufacturing enhanced and foldable smartphones, further boosting the market.
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.
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.
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:

Type: Flexible, Rigid, Transparent
Technology: PMOLED Display, AMOLED Display
Size: Small-sized OLED Panel, Medium-sized OLED Panel, Large-sized OLED Panel
End User: Mobile and Tablet, Television, Automotive, Wearable, Others
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:

What was the global OLED panel market size in 2022?
What is the projected CAGR for the market during 2023-2028?
What are the primary factors fueling market growth?
How has COVID-19 impacted the OLED panel market?
What is the market breakdown by type, technology, size, and end user?
Which

Focus on Smartphones, PC, Laptop, Tablets, Televisions, Air Conditioners, Refrigerators, and Washing Machine

May 30, 2023 Audrey

DUBLIN, May 22, 2023 /PRNewswire/ — The “Consumer Electronics Market in India“ report has been added to ResearchAndMarkets.com’s offering.

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The market was valued at INR 5,363.70 Bn in 2021. It is expected to reach INR 12,898.89 Bn by 2027, expanding at a compound annual growth rate (CAGR) of ~15.77% during the 2022 – 2027 period.

Consumer lifestyle changes, better access to finance, higher disposable incomes, and increased demand from households all contribute to the growth of the Indian consumer electronics market. The consumer electronics market in India has attracted several significant investments in the form of FDI inflows and merger & acquisition strategies used by major players in the international market.

Major market players in the Indian electronic consumer market include Samsung, Sony, Whirlpool, Daikin, Toshiba, Xiaomi, Havells, Blue Star, and Hitachi, among others.

Segment insights:

The industry includes the segments like – Smartphones, PC, Laptop, Tablets, Televisions, Air Conditioners, Refrigerators, and Washing Machine. The smartphone segment held the largest share of 52.38% in 2021, within the consumer electronics market with, which is estimated to reach ~52.53% by 2027.

The television market share is comparatively decreasing as Indian users are switching to smartphones, tablets, or laptops instead of TV. This segment accounted for 19.27% market share in 2021 and is estimated to decrease to ~19.19% by 2027. Washing Machine sales have increased over the last few years as consumers are more concerned about hygiene.

Market Influencers:

Most consumers in the country have seen a decline in their purchasing power because of the pandemic. The second wave resulted in a staggering 10 million job losses, which decreased the income of 97% of lower- and middle-class Indian households. As a result, the price has become a crucial consideration for buyers, particularly in the consumer electronics industry.

Because of this, the demand for mid-range smartphones, laptops, and other technology has significantly expanded. Buy-now-pay-later and no-cost EMIs play a significant role in purchasing choices. With these payment options, customers can purchase goods as they are needed and pay in installments over time.

As a result, the expansion of India’s retail industry may be largely dependent on the accessibility of flexible payment methods.

Key Topics Covered:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

3.1. Market definition and structure

Chapter 4: Consumer Electronics Market – An Overview

4.1. Consumer Electronics market size and growth forecast (2020 – 2027e) – based on value

Chapter 5: Market Segmentation

5.1. Consumer Electronics market segmentation – Based on value (2021 and 2027e)

5.2. Smartphone market size and growth forecast (2020-2027e)

5.3. PC, Laptop and Tablet market size and growth forecast (2020 – 2027e)

5.4. Television market size and growth forecast (2020-2027)

5.5. Air conditioner market size and growth forecast (2020 – 2027e)

5.6. Refrigerator market size and growth forecast (2020 – 2027e)

5.7. Washing machine market size and growth forecast (2020 – 2027e)

Chapter 6: Government Initiatives

6.1. Government Initiatives

Chapter 7: Trade Analysis

7.1. Trade analysis

Chapter

LG Electronics Recalls Free-Standing 86-Inch Smart Televisions and Stands Due to Serious Tip-Over and Entrapment Hazards (Recall Alert)

January 25, 2023 Audrey

Name of Product:

LG 86-inch smart televisions and stands

Hazard:

The TV can become unstable while on the assembled stand, posing serious tip-over and entrapment hazards that can result in injuries or death to children and others.

Recall Date:

January 12, 2023

Units:

About 52,000 (In addition, about 1,800 were sold in Canada and about 2,900 were sold in Mexico)

Recall Details

Description:

This recall involves four LG Electronics 86-inch smart TV models with model numbers 86UQ8000AUB, 86UQ7070ZUD, 86UQ7590PUD, and 86NANO75UQA. The TVs (not including the stands) are 86-inches diagonally, 43.5-inches high, 76-inches wide, and 2.4-inches deep. They weigh approximately 100 pounds. The serial number of the recalled product begins with 202RM, 203RM, 204RM, 205RM, 206RM, 207RM, or 208RM and is located at the bottom right of the back of the TV, along with the model number. Consumers can also check the serial number by pressing the mute button, three times rapidly, on the original LG remote control provided with their TV.

Remedy:

Consumers using the TV’s supporting stand legs should immediately detach it and place the television in a safe location away from children. Contact LG Electronics for instructions on how to inspect the unit and to obtain replacement screws and stand parts, including help from a technician for a free repair. Consumers who wall-mounted their TVs do not need to stop using their TVs.

Incidents/Injuries:

LG Electronics has received 22 reports of TV stand instability, resulting in 12 reports of tip-overs. No injuries have been reported.

Sold At:

Walmart, Best Buy, Costco and other stores nationwide and online at Amazon.com, Walmart.com, Bestbuy.com and Costco.com from March 2022 through September 2022 for between $1,100 and $1,900.

Manufacturer(s):

LG Electronics Reynosa, S.A. de C.V., of Reynosa, Mexico

Importer(s):

LG Electronics U.S.A. Inc., of Englewood Cliffs, New Jersey

Individual Commissioners may have statements related to this topic. Please visit www.cpsc.gov/commissioners to search for statements related to this or other topics.

About the U.S. CPSC

The U.S. Consumer Product Safety Commission (CPSC) is charged with protecting the public from unreasonable risk of injury or death associated with the use of thousands of types of consumer products. Deaths, injuries, and property damage from consumer product-related incidents cost the nation more than $1 trillion annually. CPSC’s work to ensure the safety of consumer products has contributed to a decline in the rate of injuries associated with consumer products over the past 50 years.

Federal law prohibits any person from selling products subject to a Commission ordered recall or a voluntary recall undertaken in consultation with the CPSC.

For lifesaving information:

Report an unsafe product