The global OLED market is bifurcated into technology, application, and materials. The segmentations by technology include PMOLED and AMOLED. The application segment is further sub-segmented into displays and lighting. Electrode materials, emissive layer materials (EML), hole transport layer materials (HTL), electron transport layer materials (ETL), and Substrates are the various classifications of OLED by materials.
Global OLED Market Report, published by Variant Market Research, forecast that the global market was valued at $4 billion in 2016 and expected to reach $28 billion by 2024, growing at a CAGR of 28.2% from 2016 to 2024. In geographical segments, Asia-Pacific and Europe are expected to grow at a CAGR of 33.8% and 27.1%, respectively, during the forecast period.
The global OLED market is majorly driven by growing demand for OLED display in smartphones, increasing demand for wearable devices, and rise in popularity of gaming devices. Additionally, product innovations and technological advancements in automotive industry would provide significant growth opportunities for the market in the coming years.
The global OLED market has been segregated into technology, materials, application, and geography. Technology segment comprises PMOLED and AMOLED.
Material segment contains emissive layer materials (EML), electrode materials, electron transport layer materials (ETL), hole transport layer materials (HTL), and substrates. The application segment includes displays and lighting.
Among application segments, displays accounted for the largest market share in 2016. AMOLED was the maximum revenue generating segment by technology.
Substrates held the largest market share in the overall OLED market by materials.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major regions covered in the report. Asia-Pacific accounted for the largest market share of 42.9% in 2016; driven by the presence of prominent vendors such as, Philips N.V.
and Samsung Electronics. Emergence of various Chinese vendors has also resulted in the growth of Asia-Pacific OLED Market. Europe was the second largest market with a total market share of 23.4% in 2016.
In terms of growth, Asia-Pacific is anticipated to attain the fastest CAGR of 33.8% during the forecast period 2016 to 2024.
The major players operating in the market comprise Philips N.V., LG Electronics Inc., OSRAM GmbH, Panasonic Corporation, Samsung Electronics Co. Ltd., Universal Display Corporation, Osram, Konika Minolta, Toshiba, Ason, Pioneer, and Lumiotec, among others.
Scope of OLED Market
- Hole Transport Layer Materials (HTL)
- Electron Transport Layer Materials (ETL)
- Electrode materials
- Emissive Layer Materials (EML)
- Residential lighting
- Commercial and office lighting
- Outdoor lighting
- Automotive lighting
- Laptops, tablets, and PCs
- North America
- United Kingdom
- South Korea
- South America
- Middle East
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