Published on : Dec 12, 2019
Organic light-emitting diode (OLED) refers to those organic material-based diodes that generates light sans any external source of light for the purpose of projection. The market is likely to witness huge growth owing to its growing use in displays and lighting across the globe. This analysis on global organic light-emitting diode (OLED) market takes into account organic light-emitting diode display.
The opportunity for the global organic light emitting diode (OLED) displays market is continuously expanding at a rapid pace. Substantial investments are being made to facilitate introduction of products with competitive prices in the forthcoming years. The organic light emitting diode displays that are found aplenty in the market are still very expensive and beyond the reach of middle-class households. However, with constant innovations and advent of latest technologies, the prices are expected to lower in times to come. As such, the global organic light-emitting diode (OLED) market is expected to witness growth in near future. Product competitiveness arising out of technological progress in the display segment is expected to escalate the demand for smaller screens like those of smartphones are likely to augment rapidly over the assessment period. In addition, demand for large displays like those in flat televisions are estimated to accentuated the demand for organic light-emitting diode displays.
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Application, type, and region are the three parameters based on which the global organic light emitting diode (OLED) displays market has been segmented. Kunshan Visionox Display Technology Co., Ltd, Acuity Brands Lighting Inc., Samsung Electronics Co., Ltd., LG Electronics Inc., Koninklijke Philips N.V., and Seiko Epson Corporation are some of renowned companies that operate successfully in the global organic light emitting diode (OLED) displays market.
Growing Use of OLED Displays in Consumer Durables Likely to Influence the Market
Digital signage serves as an efficacious way to initiate interaction with customers and this often influences consumers’ purchase behavior. Digital signage solutions are expected to benefit the retail sector immensely over the period of forecast. In the retail sector, digital signage is utilized for communicating about ongoing and upcoming offers and discounts to the consumers. Vendors are adopting organic light emitting diode displays at a very high rate owing to their thin and light frames, emission of bright colors, and more flexibility of use.
As such, high demand for these displays in various applications of digital signage is expected to drive the progress of the global organic light-emitting diode (OLED) market over the tenure of assessment.
In addition to its use in signage, organic light emitting diode displays have gained substantial traction in the consumer durables industry. Growing use of these displays in devices like smartphones and televisions offer copious growth opportunity for the global organic light-emitting diode (OLED) market. Phenomenal rise in the use of mobile phones across the globe play an important growth factor for the global organic light-emitting diode (OLED) market. Innovation in the smartphone sector such as organic light-emitting diode display panels high quality view for the users, which bolsters its demand in the market.
On the other hand, growing use of quantum dots in various applications such as televisions are is likely to impede the growth of the global organic light-emitting diode (OLED) market in forthcoming years.
Asia Pacific Holds a Large Chunk of the Market over the Forecast Tenure
Latin America, Europe, Middle East and Africa, North America, and Asia Pacific are some of the principal regions of the global organic light emitting diode (OLED) displays market.
Following a complete analysis of the regional market, it could be concluded that Asia Pacific is highly likely to emerge as a dominant regional segment of the market in forthcoming years. Various factors like rapid adoption of wearable gadgets and smartphones are encouraging growth of the market. In addition, rise in the disposable income of the people coupled with propensity o spend on premium products such as this are expected to stimulate growth of the market in years to come.