According to a new report Global Organic LED Market, published by KBV research, The Global Organic LED Market size is expected to reach $74.8 billion by 2026, rising at a market growth of 16% CAGR during the forecast period.
OLED lighting segment would exhibit a promising growth rate throughout the forecast years. LED technology is getting traction in general lighting applications due to the better performance and broad light source coverage provided by it. OLED lighting products are considered as energy-efficient and are implemented in green buildings. The massive share of the automotive lighting segment is due to the huge demand from luxury car makers for high-end quality lightings, combined with increasing partnerships of OLED makers with key automotive companies with an aim to develop flexible lightings for vehicles.
The consumer segment would garner maximum revenue share during the forecast period. The consumer electronics market is developing very rapidly with notable developments in technology, like enhancing picture quality in large-screen TVs and the advent of smartphones. OLED technology allows the making of these sophisticated products. Technological developments in consumer devices and economic developments across the world are the aspects that will boost the demand for OLED products in the consumer segment. OLED displays are massively utilized by smartphones and television sets. In addition, numerous display panel makers have witnessed a surge in the sale of mobile displays due to the latest product introduction and an enhanced supply-demand ecosystem for big panels even during the pandemic.
APAC emerged as the dominating region in the global OLED market. This can be credited due to the massive demand for OLED display panels from smartphone providers and OEMs in Japan, China, South Korea, and Taiwan. Moreover, various leading original brand makers and the many display makers are established in the Asia-Pacific region. Many activities like R&D, manufacturing, and assembly, associated with OLED displays are being transferred to China due to the low price of logistics operations related to the delivery of end products in the OLED display market. China is also appearing as the dominating consumer product manufacturing hub with local participants enhancing their market share in all categories.
Full Report: https://www.kbvresearch.com/organic-led-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Samsung Electronics Co., Ltd. (Samsung Group), LG Display Co., Ltd. (LG Corporation), Panasonic Corporation, Universal Display Corporation, Konica Minolta, Inc., BOE Technology Group Co., Ltd., OSRAM GmbH, Acuity Brands Lighting, Inc., Organic LEDWorks LLC, and Tianma Microelectronics Co., Ltd.
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