Global Phosphoric Acid Market Size, Share & Industry Trends Analysis Report By Source Type (Wet Process, and Thermal Process), By Application, By Regional Outlook and Forecast, 2023 - 2030

Global POLED Panel Market Size, Share & Industry Trends Analysis Report By Application (Smartphones, and Wearables), By Type (Flexible, Foldable, and Others), By Regional Outlook and Forecast, 2023 - 2030

The Global POLED Panel Market size is expected to reach $2.6 billion by 2030, rising at a market growth of 18.9% CAGR during the forecast period.

As smartphones have become integral to modern life, the replacement cycle for these devices has shortened, driving sales and, by extension, the demand for advanced components like POLED panels. Thus, the smartphones segment registered $466.9 million revenue in the market in 2022. It allows for innovative smartphone designs, which is a strong selling point for new models. Consumers seeking premium smartphones are more likely to opt for models featuring advanced technologies like POLED displays. These panels offer excellent color reproduction and contrast ratios, which make displays more visually appealing to consumers. These panels are lighter and thinner than traditional displays, contributing to sleeker and more portable smartphone designs. Some of the factors impacting the market are growing technological advancements in POLED, rising application of POLED panels across sectors, and high manufacturing cost of these panels.

Improvements in organic materials and plastic substrates are helping to create these panels that are more efficient, durable, and vibrant. Advancements in organic materials and plastic substrates are crucial for the continued development and success of these panels. These improvements can influence various factors, from durability and efficiency to color accuracy and flexibility. Continuous efforts are being made to reduce the weight of plastic substrates while maintaining their structural integrity, which is crucial for portable and wearable devices. Moreover, applying these panels is rising across various sectors owing to their lightweight nature, energy efficiency, and flexibility. POLED panels are integral to the newest generation of foldable and rollable smartphones, providing high-quality, flexible displays. Slim, lightweight, and capable of producing rich colors, POLED panels increasingly appear in premium tablets and laptops. The flexibility and low power consumption of POLED panels make them ideal for smartwatches and fitness bands, where size, weight, and battery life are key considerations. Therefore, as technological advancements solve existing challenges like shorter lifespans and higher costs, the adoption of these panels will likely grow even further across these and potentially new sectors.

However, the high manufacturing cost of these panels remains a significant challenge in the industry. Several factors contribute to these high costs, which can be a hurdle to widespread adoption and market growth. The specialized organic materials used in POLED technology can be expensive to produce or purchase. Specialized plastic substrates that can withstand manufacturing without warping or degradation are another contributing cost factor. Layering organic compounds and other materials in a POLED panel requires highly specialized equipment and cleanroom environments. Varying needs for different industries (e.g., automotive, medical, consumer electronics) may require specialized customization, which can add to the manufacturing costs. Due to these factors, the market will be hampered in the future.

Application Outlook

Based on application, the market is categorized into smartphones and wearables. The wearables segment garnered a significant revenue share in the market in 2022. The adoption of these panels in wearables has gained traction due to this display technology’s unique advantages. POLED technology allows for curved or even flexible screens, which can be an asset for wearables like smartwatches and fitness bands that need to conform to the shape of the wrist. The plastic substrate used in POLED displays is lighter than traditional glass, making it ideal for wearables where weight is critical.

Type Outlook

On the basis of type, the market is classified into flexible, foldable, and others. In 2022, the flexible segment dominated the market with the maximum revenue share. Flexible POLED displays have garnered significant attention due to their unique attributes, enabling novel form factors and previously difficult or impossible applications. Unlike traditional OLEDs based on rigid glass substrates, POLEDs use plastic substrates, making them flexible, lighter, and often more resilient to impacts. The organic semiconductor material used in POLEDs is generally thinner than traditional OLEDs, contributing to the flexibility.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region registered the highest revenue share in the market. The growing smartphone penetration and the automotive sector are leading the growth of the market in this region as the use of POLED is increasingly incorporated into phones and vehicles. Also, the gaming industry in North America benefits from high-quality displays for gaming consoles, handheld gaming devices, and gaming PCs. POLED displays can offer immersive gaming experiences with fast response times and vibrant colors, due to which the market will grow in this region.

The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include LG DISPLAY CO., LTD., Apple Inc., Google (Alphabet Inc.), Sumitomo Chemical Co., Ltd. and Motorola Mobility Holdings, Inc. (Lenovo Group Limited)

Strategies Developed in POLED Pannel Market

May-2023: Motorola Mobility LLC introduced the Motorola Edge 40, featuring a Dimensity 8020 chipset, Android 13 OS, 256 GB storage, dual stereo speakers, and IP68 rating. The product also included a 6.55-inch P-OLED curved FHD display and notable camera specs: a 50 MP OIS-enabled rear camera, a 13 MP ultra-wide lens, and a 32 MP front camera.

Aug-2022: Motorola Mobility LLC unveiled three flagship phones: the Moto Razr 2022, Moto X30 Pro, and Moto S30 Pro. Notably, the Moto Razr 2022 upgraded to the Snapdragon 8 Plus Gen 1 chipset, featured a foldable 144Hz P-OLED display, dual 50-megapixel rear cameras, and a fast-charging large battery, departing from the previous Snapdragon 7-series chipset used in its predecessors.

Aug-2022: Motorola Mobility LLC expanded its G-series with the launch of Moto G52. Moto G52 featured with a pOLED display, Stereo speakers with Dolby Atmos, Android 12, and a stylish design. At 7.99mm thin and 169g light, it became India's slimmest and lightest smartphone in its category.

Scope of the Study

Market Segments covered in the Report:

By Application

• Smartphones
• Wearables

By Type

• Flexible
• Foldable
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• LG DISPLAY CO., LTD.
• Apple Inc.
• Google (Alphabet Inc.)
• Sumitomo Chemical Co., Ltd.
• Motorola Mobility Holdings, Inc. (Lenovo Group Limited)

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