Organic Light Emitting Diode (OLED)

Organic Light Emitting Diode (OLED)

OLED (organic light-emitting diode), also known as organic LED, emits light when an electric current is passed through its emissive layer. The demand for OLEDs is growing in various electronic applications mainly owing to the OLEDs that use organic materials to emit light, rather than traditional backlighting used in LCD displays. This allows for less power consumption, better contrast, deeper blacks, and more vibrant colors.

Moreover, with the surge in the wide variety of display technologies in consumer electronic products such as mobile phones, wearables, IT, and TVs as well as virtual reality, automotive, and signage, OLEDs provide markedly improved performance features compared to LED displays. Further, various display manufacturers across the globe are investing in next-generation OLED technology to strengthen their product portfolio and amplify their position in the market.

For instance: In April 2023, Samsung announced USD 3 billion investment plan in OLED panels for tablets, laptops, and monitors by 2026.

• Based on product type, the OLED market is bifurcated into display and lighting. The display segment caters extensive share of the market and is expected to grow at a significant rate in the forecasted period as well. The soaring demand for super high-contrast images and richer colors in electronic applications is escalating the market size of display OLEDs. Moreover, OLEDs are thin, lightweight, and power-efficient solid-state devices that emit light that can be manufactured on both flexible and rigid substrates, making them highly suitable for use in full-color displays and as lighting products.
• Based on technology, the market is segmented into PMOLED, AMOLED, Transparent OLED, Top-Emitting OLED, Foldable OLED, and White OLED. The AMOLED segment caters extensive share of the market and is anticipated to grow at an influential CAGR in the forecasted period as well. AMOLED is majorly used for flexible display screens for smartphones and other personal electronic devices as it makes high-resolution screens at a low cost. For instance: In march 2022, Samsung launches three new AMOLED phones, the A33, A53, and the A73 that have a flexible AMOLED display and offers peak brightness.
• Based on display type, the OLED market is categorized into rigid, flexible, and others. The flexible segment caters to the highest share and is expected to grow at an influential CAGR. Flexible displays are fabricated from thin plastic or metal foil that can be easily folded and are functional for a wide range of electronic devices. In addition, flexible OLEDs are much lighter and thinner than backlit LCDs which in turn is escalating its application in recent smartphones.
• On the basis of end-use, the OLED market is segmented into consumer electronics, automotive, retail, industrial, commercial, aerospace and defense, and healthcare. The consumer electronics segment acquired the highest share of the market. The soaring technological advancement in electronic devices has escalated the adoption of OLED displays in TVs, smartphones, laptops, monitors, and others to reduce. Moreover, OLEDs consume less power, and lightweight and flexible display offers a wide-angle view of the screen, fast motion, and high contrast.
• For a better understanding of the market adoption of OLED, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Taiwan, and Rest of Asia-Pacific), Rest of World. The Asia Pacific market is expected to register the highest growth rate in the forecast period owing to a large number of OLED manufacturing facilities in China, Taiwan, and South Korea that have catered to a significant share of consumer electronics display manufacturing in the region. For instance: BOE Technology Group Co Ltd, a Chinese display panel supplier, topped the domestic market with flexible OLED panel shipments of about 60 million units in 2021, up nearly 60 percent year-on-year.

Moreover, OLED is the next-generation display technology that offers advancement in terms of image contrast, brightness, and color spectrum, thus further accelerating the upgrade of the display industry. Furthermore, a rise in government support through incentives, and funding in the development of extending profitable opportunities to the market players in the region is accelerating its market growth.

• Some of the major players operating in the market include Universal Display, Advantech Co., Ltd., Innolux Corporation, ams-OSRAM AG, Planar, AU Optronics Corp., LG Display Co., Ltd., Japan Display Inc., General Digital Corporation and SAMSUNG.