OLED Market By Technology (AMOLED, PMOLED), Display Panel Type (Rigid, Flexible), Application (Smartphone & Tablet, Smartwatches & Wearables, Television & Digital Signage Systems, PC Monitors & Laptops), & Region for 2024-2031

OLED Market Valuation – 2024-2031

Growing environmental consciousness has brought to light the limitations of LCD technology, particularly in terms of power consumption and disposal. In comparison to typical LCD backlights, OLED displays consume less power and may offer more environmentally friendly disposal solutions. This environmental advantage might be a deciding factor for manufacturers and ecologically conscientious customers, driving up demand for OLED screens. Thus, the increasing environmental concern is surging the growth of market size surpassing USD 41.98 Billion in 2024 to reach a valuation of USD 118.91 Billion by 2031.

The gaming industry is constantly pushing the boundaries for more realistic and immersive experiences. OLED displays, with their higher contrast, faster response times, and ability to display a broader color spectrum, dramatically improve the gaming experience. As gaming technology progresses, demand for OLED displays in gaming monitors and VR headsets is likely to increase, fueling market development. Thus, the expansion of the gaming industry is enabling the market to grow at a CAGR of 13.90% from 2024 to 2031.

OLED MarketDefinition/ Overview

OLED stands for Organic Light-Emitting Diode. It’s a type of display technology that uses thin films of organic compounds to create light. An organic light-emitting diode (OLED), also known as an organic electroluminescent (organic EL) diode, is a form of light-emitting diode in which the light-emitting layer is a film of organic compounds that emit light when an electric current is applied. The organic layer is sandwiched between two electrodes, one of which is transparent. OLEDs are used in digital displays like television screens, computer monitors, smartphones, and portable game consoles. White OLED devices for solid-state lighting applications are currently being developed through research. There are two types of OLEDstiny molecules and polymers.

When mobile ions are introduced into an OLED, they form a light-emitting electrochemical cell (LEC), which behaves differently. OLED displays can be powered using either passive-matrix (PMOLED) or active-matrix (AMOLED) control systems. PMOLEDs have a simple control method that is ideal for smaller displays with lower resolution, but AMOLEDs use a thin-film transistor backplane to turn each pixel on or off, allowing for higher resolution and larger display sizes. OLED displays do not require a backlight because they generate visible light directly, allowing them to achieve deep black levels while being thinner and lighter than liquid crystal displays (LCDs).

Despite having similar names, OLEDs and LEDs are fundamentally different. LEDs feature a p-n diode structure, which is achieved by doping the semiconductor to create p- and n-regions. In contrast, OLEDs do not have a p-n structure; instead, doping in OLEDs is employed to improve directly changing the quantum-mechanical optical recombination rate improve radiative efficiency.

How the Increasing Customer Appetite for Premium Displays are Surging the Growth of the OLED Market?

The rising customer appetite for premium displays is propelling the OLED market. Modern consumers are increasingly demanding high-quality screens with better contrast, wider viewing angles, and slimmer designs. OLED technology, with its ability to meet these requirements, is emerging as the display of choice for a wide range of products, resulting in significant market growth.  Continuous advances in OLED technology are also contributing significantly to market growth. Material and manufacturing process innovations are tackling long-standing restrictions such as burn-in danger and longevity. These enhancements improve the overall performance and dependability of OLED panels, making them more appealing to both producers and customers.

The spectrum of uses for OLED technology is expanding, accelerating market growth. Beyond smartphones, OLED screens are increasingly seen in smartwatches, tablets, computers, virtual reality headsets, and televisions. This spread into multiple device categories highlights OLED technology’s adaptability and growing popularity across industries. Foldable display technology is another key driver of the OLED market. As the popularity of foldable products such as smartphones and tablets grows, the demand for flexible screens increases. OLED’s inherent thinness and flexibility make it an excellent alternative for these revolutionary devices, increasing market demand.

The introduction of 5G networks is driving up demand for OLED screens. With 5G promising higher data transfer speeds and better user experiences, features like high-resolution video streaming and immersive gaming are becoming more popular. OLED’s excellent display quality is critical for leveraging these new possibilities, which accelerates its adoption. Design and aesthetics are important considerations for mobile device manufacturers, and OLED technology fits perfectly with these requirements. The potential of OLED displays to produce thin, lightweight panels with brilliant colors and great contrast is widely valued in the design of sleek, premium gadgets, which increases market penetration.

Government subsidies and incentives, particularly in Asia, are considerably expanding the OLED industry. These programs help to reduce manufacturing costs by giving financial incentives to stimulate local OLED display production. This increases OLED technology’s competitiveness in the worldwide market, boosting adoption and market growth.

How the High Manufacturing Cost and Burn-in-Risk is Hampering the Growth of OLED Market?

The high manufacturing costs associated with OLED screens are limiting the growth of the OLED market. These displays are produced using more complicated and accurate techniques than LCDs. This intricacy increases production costs, making OLEDs a more expensive option for manufacturers and, ultimately, driving up consumer pricing.  In addition, the potential for burn-in, which occurs when static images are displayed for an extended period and cause permanent screen damage. Despite ongoing improvements, this issue remains a worry, especially for users who frequently view movies or play games with static UI elements. The possibility of burn-in can prevent buyers from selecting OLED technology for fear of diminished screen longevity and quality.

OLED displays also have lower brightness levels than LCD screens, especially in very bright situations. This limitation can be a significant drawback for users who frequently use their smartphones outside or in well-lit environments where visibility may be impaired. While OLED displays are becoming more durable, their lifespan is still lower than that of some LCD panels. Budget-conscious consumers looking for a long-lasting product may be hesitant to invest in OLED technology. Water resistance is another area in which OLED displays may fall short of some LCD screens. Although progress has been made in making OLEDs more water-resistant, achieving the same level of protection as some rugged LCDs remains difficult. This can be a disadvantage for consumers who require sturdy, water-resistant equipment.

Furthermore, the high speed of technical improvement could represent a challenge to the OLED business. The display technology environment is continuously changing, with new developments like MicroLED on the way. These developing technologies may challenge OLED’s supremacy by providing higher performance or cost advantages, making it critical for OLED technology to constantly evolve and adapt to preserve its competitive advantage.

Category-Wise Acumens

How the Thin-Film Transistor is Surging the Growth of the AMOLED Segment in the OLED Market?

AMOLED segment is showing significant growth in the OLED market owing to the AMOLED displays use a thin-film transistor (TFT) backplane to individually control each pixel, which provides several major advantages. This exact pixel control results in greater image quality, including strong contrast, deeper blacks, and wider viewing angles. Furthermore, the individual control enables quicker refresh rates, decreasing motion blur and giving a more seamless viewing experience.

In addition, the decreasing power usage, as AMOLED can switch off individual pixels for black, making it more energy efficient than PMOLED. Because of its superior performance, AMOLED technology is mostly employed in high-end applications like as smartphone and tablet displays, smartwatches and wearable devices, high-resolution televisions, and virtual reality headsets.

AMOLED displays are suited for applications that require better contrast, wider viewing angles, and faster refresh rates where visual integrity is essential. As people emphasize high-quality displays in their devices, the need for AMOLED technology continues to grow. Furthermore, manufacturing developments are gradually closing the cost gap between AMOLED and PMOLED displays, making them more affordable and encouraging their adoption in a variety of premium applications.

How the Durability, and High Brightness are Surging the Growth of Rigid Segment in the OLED Market?

Rigid Segment is significantly growing in the OLED market owing to its durability and offering resistance to physical harm and stable bases for display technologies. Traditional OLED displays consisting of glass or hard plastic substrates have several significant benefits. The production method for rigid panels is well-established, resulting in cost savings and the ability to create large quantities. Furthermore, rigid panels often achieve higher brightness levels than their flexible counterparts, making them ideal for brightly illuminated areas.

Rigid OLED panels are commonly employed in a variety of applications. Despite the introduction of flexible displays, rigid OLEDs continue to be popular in smartphones and tablets due to their low cost and proven manufacturing techniques. Televisions rely heavily on stiff OLED panels to meet their size, durability, and high brightness requirements. Similarly, laptops and monitors profit from the rigid panels that offer stability and brightness.

In addition, rising demand for foldable smartphones and tablets is increasing interest in flexible OLED displays. Manufacturers are investing substantially in R&D to improve the performance and lower production costs of flexible OLED technology. This innovation is creating new business prospects, with flexible OLEDs demonstrating promise in developing applications such as rollable TVs and transparent displays.

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Country/Region-wise Acumens

How the Tech-Savvy and Young Population is Surging the Growth of the Asia Pacific OLED Market?

The Asia-Pacific (APAC) region is fast developing as a dominant force in the OLED industry, owing to the large, tech-savvy, and young population in APAC is increasingly interested in high-quality displays and innovative products, making them more open to the premium features provided by OLED technology. Economic growth in the region is also increasing disposable income, allowing customers to spend more on premium smartphones, televisions, and other gadgets with OLED displays.

Social attitudes are shifting, which is contributing to this development. While there is still some social stigma attached to some indicators of social acceptance in some locations, there is a progressive shift toward adopting premium items such as OLED screens, particularly in urban areas. Government support is another important component, with some APAC countries providing financial incentives and subsidies to stimulate domestic production of OLED screens. This not only promotes a more competitive market but also reduces dependency on imports.

APAC’s reputation as a dynamic manufacturing hub reinforces its supremacy in the OLED market. Because of their proximity, leading electronics firms such as Samsung and LG Display can embrace innovative display technologies like OLED more quickly. East Asian countries with a long history of display technology innovation include China, Japan, and South Korea, which are home to significant OLED manufacturers. Despite some societal stigma associated with “showy” displays in specific categories, tight restrictions and different licensing requirements do not impede the region’s dominant position in the OLED market.

Southeast Asia, which includes countries such as Thailand Vietnam and the Philippines have a more permissive attitude toward consumer electronics, with tourism helping to promote OLED technology. Although Southeast Asia has lower total discretionary income levels than East Asia, the area continues to contribute to market growth. Meanwhile, Australia and New Zealand have a more Westernized view of technology and a strong social acceptance of premium displays. With well-established laws and a receptive consumer, these countries contribute to APAC’s supremacy in the OLED industry.

How the Increasing Demand for High-Quality Display is Enabling the Growth of the North American OLED Market During the Forecast Period?

North America is expected to be the fastest growing region in the OLED market during the forecast period. In North America, high-quality display demand is a major driver of the OLED market. Consumers value advantages like as higher contrast, wider viewing angles, and slimmer designs, all of which OLED technology offers, driving market expansion. The region’s history of early adoption of new technologies adds to this trend. Major smartphone makers routinely incorporate OLED displays into their flagship models, establishing a precedent that influences consumer preferences.

The robust replacement market in North America also helps to drive the growth of OLED displays. As people refresh their electronic devices regularly, OLED screens become an appealing option due to their enhanced capabilities. North American consumers prioritize design aesthetics, wanting sleek and elegant electronics. OLED screens are tiny and lightweight, which aligns with They blend in seamlessly with this design focus, making them ideal for mobile devices and televisions.

In the United States, the OLED market is especially strong. Major cities such as Los Angeles, New York, and Miami have a large population of tech aficionados and early adopters, which drives demand for OLED technology. Regulations differ in each state, with some concentrating on display performance and recycling. In Canada, the OLED market is constantly expanding, with major hubs in Toronto, Vancouver, and Montreal. While Canadian rules are generally less stringent than those in some US jurisdictions, adoption rates may be slightly lower due to the smaller demographic base.

Another factor fueling demand for high-performance displays. OLED panels, with their fast response rates and high-quality graphics, are great for immersive gaming. Furthermore, while smartphones and televisions presently dominate the OLED industry, the technology is finding new uses in smartwatches, fitness trackers, and laptop computers. This diversity increases the market potential of OLED displays.

The popularity of streaming services and high-definition content creation platforms such as Netflix and YouTube are driving up customer demand for displays with great image quality. OLED technology, with its capacity to give greater images, is perfectly equipped to address this need, accelerating its acceptance in North America.

Competitive Landscape

The OLED market boasts a dynamic and multifaceted landscape, with established players, emerging challengers, and regional variations shaping the competitive scene. By addressing these factors and staying agile in a constantly evolving market, players in the OLED landscape can carve out a successful niche and contribute to the continued growth of this exciting display technology.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the OLED market include

• Samsung Electronics
• AU Optronics Corp.
• LG Display Co. Ltd.
• Japan Display Inc.
• Innolux Corp.
• E Ink Holdings, Inc.
• Sharp Corp.
• BOE Technology Group Co., Ltd
• Corning Incorporated
• Visionox Corporation

Latest Developments

• In November 2020, Lumenique LLC announced a partnership with OLEDWorks Lumenique, an illuminated art maker, will now be a pioneer in the advancement of OLED lighting as a result of this relationship. The company will offer amazing portable illumination by utilizing cutting-edge OLED lighting panels.
• In August 2019, Samsung Electronics announced that it has lowered LCD output in preparation for a significant investment in quantum dot, commonly known as (QD) OLED panels, and hybrid displays that combine both OLED and quantum dot technology.
• In May 2020, Wuhan China Star Optoelectronics Semiconductor Display Technology Co., Ltd. and Universal Display inked a new OLED technology licensing agreement as well as a supplemental material purchase agreement. According to the long-term agreements, UDC will provide Optoelectronics with phosphorescent OLED components.

Report Scope

OLED Market, By Category

Technology

• AMOLED
• PMOLED

Display Panel Type

• Rigid
• Flexible

Application

• Smartphone & Tablet
• Smartwatches & Wearables
• Television & Digital Signage Systems
• PC Monitors & Laptops

Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post sales analyst support

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