Organic Light Emitting Diode (OLED) Market to 2025 by Technology, End-Use Verticals and Geogaphy

The Organic Light Emitting Diode (OLED) market was valued at US$ 12.5 Bn in 2015 and is projected to reach US$ 39.0 Bn in 2025; it is expected to grow at a CAGR of 12.2% from 2015 to 2025.

OLEDs are made up of polymers which emit light when a current is applied. There are various applications in which OLEDs are used such as retail, security, automotive, architecture and others. OLED technology is used in a wide range of consumer electronics including mobile phone displays, Bluetooth headsets, car audio displays, hand held game consoles, MP3 players, digital cameras, and in many other industrial applications. The two major application areas for OLEDs are in Lighting and Display. Presently, the 3 zones with major developmental efforts in flexible OLEDs are East Asia, Europe and North America.

The Organic Light Emitting Diode (OLED) market opportunity is constantly growing and significant capital investments are being made to facilitate competitively priced products in the coming years. The OLED displays available in the market today are still expensive but with the advancement of technology, the prices are expected to decrease. Present advancements to display performance have led to improved product competitiveness and it is anticipated that the demand for smaller displays, particularly smartphones, will grow at an instant rate. Whereas, for the large display market, the demand for flat televisions with OLED displays is expected to grow in the near future.

The OLED market is bifurcated on the basis on Geography into North America, Europe, APAC, SAM and MEA. The production of power saving displays including green technology is driving the growth of OLED market in almost every region. With increased public awareness for eco-friendly products, companies such as, Sony, Apple, Philips and Samsung are improving display efficacy with OLED. Knowing that LCD screens and plasma consume more energy, producers are also making developments with OLED displays that consumes less energy and provide flexibility. The present scenario in the global OLED market shows that APAC is dominating the market followed by North America. Two of the major OLED display manufacturing companies namely LG Display and Samsung Display are majorly concentrated in South Korea, and both the companies are continuously focusing on increasing their production capacity and to manufacture large size OLED panels. Other than the above mentioned companies, most of the OLED display manufacturing companies have their presence in APAC particularly, in Taiwan and China and are investing intensely in the R&D of OLED panels with an aim to enhance productivity by decreasing the cost incurred in the manufacturing process. The growth is expected to increase during the forecasted period with the emergence of new companies investing into OLED manufacturing business and the latest advancements taking place for the development of OLED technology.

Market Insights

Increasing adoption of Micro-displays in various verticals

The display technology has become a ubiquitous fragment of our daily lives. A Micro-display is extremely small display measuring less than 25 mm when measured diagonally. These display units have high resolution and high density screens used by magnified display units. Micro displays were introduced approximately two decades ago. Micro displays are implemented in various industry verticals such as industrial, commercial, aerospace, military, automotive, medical and law enforcement and rescue.  Micro displays are majorly used in HMDs and HUDs for military and aerospace. Micro-OLED was the pioneer in offering OLED based micro displays to military and aerospace verticals. These display units enhance the resolution of image and consume less power.

Type-Based Market Insights

Organic Light Emitting Diodes (OLED’s) produce light when altered with electric currents. These devices consist mainly of polymers and other small molecules which are organic in nature, and remarkably promise multiple applications in flat displays replacing of obsolete technology of Cathode Ray Tubes (CRT). Global OLED market has been categorized majorly into two categories; Passive Matrix Organic Light Emitting Diode (PMOLED) and Active Matrix Organic Light Emitting Diode (AMOLED).

Application -Based Market Insights

The global organic light emitting diode market on the basis of application has been segmented into OLED Displays and OLED Lighting. OLEDs are used to produce digital displays in devices such as TV screens, computer monitors and portable devices such as handheld game consoles, mobile phones and PDAs. An OLED display is capable of displaying deep black levels and is lighter and thinner in comparison to a LCD, as it does not have a backlight. OLEDs lights are comprised of semiconductor material layered between two electrodes. OLED is a combination of thin layers of green, blue and red film to release a softer white light.

End-User – Based Market Insights

OLEDs flexibility facilitates manufacturers to create OLEDs using reel-to-reel manufacturing processes, and enables the production of flexible lighting and display products. OLEDs are commercially made on rigid glass substrates. Though, applications such as bent displays or watches with flexible OLEDs have come into the market recently. Further development of production processes and tools and better materials are required for the development of sufficiently flexible and durable OLEDs. The global market for OLEDs are segmented on the basis of end-user verticals into retail lighting, security & signage, automotive, consumer products, architecture and others (Industrial, Food, Medical etc.).

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Organic Light Emitting Diode (OLED) Market: Strategic Insights

Organic Light Emitting Diode (OLED) Market

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  CAGR (2015 - 2025)

  12.2%
• Market Size 2015
  US$ 12.5 Billion
• Market Size 2025
  US$ 39 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• FUTABA CORPORATION
• Samsung Electronics Co Ltd
• Universal Display Corporation
• Kunshan Visionox Display Technology Co Ltd
• DLC Display Co Limited
• Pioneer Corporation
• Sony Corporation
• Koninklijke Philips N V
• Acuity Brands Lighting Inc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Technology

• AMOLED and PMOLED

Application

• Display and Lighting

End-User Industry

• Retail
• Architecture
• Automotive
• Consumer Electronics
• Security & Signage and Others

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Product development is the commonly adopted strategy by companies to expand their product portfolio. Osram, OLEDWORKS, LG, Acuity Brands, among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global organic light emitting diode (OLED) market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

• In 2014, Futaba Corporation announced capital and business alliance with SANKO GOSEI LTD, manufacturer and seller of molding dies and plastic molded products. This will facilitate the company in development of new products and technology, order increase and market exploitation, share facilities and to share practice about management and production.
• In February 2016, Samsung announced that the company is developing OLED TV panels by investing around US$ 3 Bn for OLED TV production.

Organic Light Emitting Diode (OLED) Market Report Scope

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Organic Light Emitting Diode (OLED) Market Segmentation:

Organic Light Emitting Diode (OLED) market - By Type

• Passive Matrix Organic Light Emitting Diode (PMOLED)
• Active Matrix Organic Light Emitting Diode (AMOLED).

Organic Light Emitting Diode (OLED) market - By Application

• OLED Displays
• OLED Lighting

Organic Light Emitting Diode (OLED) market - By End-User

• Retail Lighting
• Security & Signage
• Automotive
• Consumer Products
• Architecture
• Others

Organic Light Emitting Diode (OLED) market - Company Profiles

• LG Display
• Samsung Display Co., Ltd
• Futaba Corporation
• Universal Display Corporation
• RITEK Corporation
• OSRAM GmbH
• OLEDWorks LLC
• Innolux Corporation
• SEIKO EPSON CORPORATION
• Acuity Brands Lighting Inc.
• Koninklijke Philips N.V