Enhanced picture quality, high energy efficiency, increasing demand for eco-friendly products: Organic LED Market
Competitive scenario of the global Organic LED market :
Display is one of the major application areas of OLED technology and accounted for approximately 96.9% market share of the total OLED market in terms of revenue in 2014. OLED films are quite durable and capable of operating at higher temperature as compared to LED. OLED offers light emitting surfaces, which are lightweight and thin.
OLED displays do not require shutter arrays and backlight, thus enabling the manufacturers to easily replace the heavy and breakable glass used in LED displays with a stronger and lighter plastic substrate. High cost is one of the major restraints for the OLED market. However, it is expected that with the technological advancements and increasing focus of organizations on research activities, price of OLED panels would considerably reduce in future.
Difference between OLED & LED:
The term organic LED, or OLED, has now become synonymous with consumer electronics and automotive market. The latest range of next-generation devices, such as televisions, monitors, smartphones, notebooks & tablets, and automotive screen displays boast of OLED screens, which are the current rage. The organic light emitting diode technology has gained swift approval from all quarters in the electronics industry, and this has led to an emergent market for OLED market.
Key Findings of the Organic LED Market:
- Global Organic LED market is expected to grow rapidly owing to increased adoption of OLED technology into smartphones, television and lighting applications
- Lighting application of OLED technology would grow at a CAGR of 45.8% during the forecast period 2015 – 2020, owing to rapid technological advancement
- AMOLED would generate the highest revenue throughout the forecast period, growing at a CAGR of 16.4% during the forecast period 2015 – 2020
- The Asia-Pacific market would foresee tremendous growth for OLED technology. The region would account for nearly 35.9% of the total market by 2020, growing at a CAGR of 16.8% during the forecast period.
“AMOLED and PMOLED are the two major OLED display technologies available in the market. Though PMOLEDs are cost effective and easy to build, they are restricted in size and resolution, which limits their adoption. On the other hand, AMOLED are expensive and material intensive, but they do not have any restriction on resolution or size. It is estimated that AMOLED technology would lead the OLED market during the forecast period to reach $32.0 billion by 2020.”
Many runners, few scores
Prominent players operating in the OLED market have adopted product launch as their key growth strategy. Some of the major companies profiled in the report include LG Electronics Inc., Koninklijke Philips N.V., OSRAM GmbH, Samsung Electronics Co., Ltd., Novaled GmbH and Universal Display Corporation among others.
Enhanced picture quality, high energy efficiency, increasing demand for eco-friendly products and growing government regulations would supplement the growth of Organic LED market.