An organic light-emitting diode (OLED) display is a light-emitting diode in which the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current. These displays are capable of emitting bright light when an electric current is applied between two conductors, and hence, don’t require any backlight for operation. Organic LED displays are rapidly gaining popularity in the market place due to their better image quality and high pixel switching speed. The major advantages offered by OLED displays include low operating voltage, generally in the range of 5 to 20 volts, and lightweight monolithic form.
The global OLED displays market is expected to surpass US$ 52.6 Mn in terms of value by the end of 2028.
Increasing demand for OLED TVs is expected to propel the global OLED displays market growth over the forecast period. The major use of OLED display is in OLED TVs due to integration of the entire value chain of the OLED market. The functional benefits of OLED technology are expected to boost the demand for OLED displays in the near future. Similarly, OLED applications in mobile and signage devices will have growing impact on OLED market growth as newer applications will have faster adoption during the same period. Support for green products and demand for OLED TVs, which in turn, is expected to propel the global OLED displays market growth over the forecast period.
Growing demand for eco-friendly products can present lucrative growth opportunities. As global awareness and demand for greener technology is on the rise, low power consumption, simplicity of design, and reduced material usages are at the core of consumer demand. OLED technology is benefiting with growing demand for energy-efficient products. As manufacturers realize the economies of scale, the average price of OLED displays is expected to decline, further boosting the demand.
Global OLED Displays Market: Recent Developments
In November 2019, Sharp Corporation and Japan Broadcasting Corporation (NHK) have co-developed a 30-inch 4K flexible organic LED (OLED) display.
In April 2019, MagnaChip Semiconductor Corporation, a designer and manufacturer of analog and mixed-signal semiconductor products entered into partnership with Melfas Inc., a leading provider of proven touch controller ICs and touch screen / touch key modules based on capacitive touch sensing technologies to develop advanced OLED display capabilities for the automotive and consumer electronics sectors.
In October 2020, Samsung Electronics collaborated with Stanford University to develop the next generation OLED display.
Major companies in the market are focused on business expansion, in order to enhance the market presence. For instance, in June 2020, Samsung Electronics announced to set up an OLED display manufacturing unit in India.
Declining prices of competing technologies are expected to hamper the global OLED displays market growth over the forecast period. Competing technologies such as LCDs have witnessed a constant decline in prices in the recent past and this trend is expected to continue during the forecast period. Although OLED technology offers various advantages such as better resolution, compact design, and high energy efficiency, high cost of products as compared to other technologies remains a major obstacle for the market growth. Moreover, slow adoption of OLED technology is expected to hamper the global OLED displays market growth over the forecast period.
Global OLED Displays Market - Impact of Coronavirus (Covid-19) Pandemic
The global OLED displays market has witnessed a significant negative impact of the COVID-19 pandemic. Following the outbreak, various countries worldwide decided to close their international borders temporarily and suspend international travel, in order to curb the spread of the virus. Furthermore, many countries adopted stringent lockdown policies and shutdown manufacturing activities across the nation. These critical decisions have impacted growth of the market. Besides, the global supply chain industry witnessed a massive disruption due to decline trade and challenges emerged due to COVID-19. China is one of the largest procedures of OLED displays in the world. However, strict regulations on physical distancing in China led to a sharp decline in the market growth.
To know the latest trends and insights prevalent in the Global OLED Displays Market, click the link below:
The telecom sector is expected to hold significant position in the global OLED displays market during the forecast period. Active matrix OLED displays are widely used in smartphones, owing to their superior picture quality, contrast, and response. Moreover, AMOLEDs consume less power and contribute to longer battery life. Since low battery life is a major issue with smartphones, AMOLED display is now being adopted for longer operation time. Rising demand for smartphones globally is expected to increase the use of AMOLED display in the near future.
According to Coherent Market Insights’ analysis, smartphone accounts for 80% of market share in the global OLED displays market. Samsung has the largest share with OLED enabled phones. Other smartphone developers such as HTC, Nokia, and Panasonic are investing in OLEDs to come up with OLED enabled smart phones. Other devices that use OLED displays include handheld video games, music players, digital cameras, and picture frames. Sale of these devices is expected to remain static or decline as smartphones offer similar features.
Key players operating in the global OLED displays market are Samsung Electronics, AU Optronics Corp, TDK, Sony Corporation, Rit Display, LG Display, Pioneer, and Visionox.