Organic LED Market is grow at a CAGR of 21r
Organic LED Market is grow at a CAGR of 21.7 forecast period 2027
The Market Statsville Group (MSG) publishes the new report on the "Organic LED Market by Product Type (Display and Lighting), by Technology (Passive-Matrix OLED (PMOLED), Active-Matrix OLED, Transparent OLED, Foldable OLED, Top-Emitting OLED, and White OLED), by End-Users (Consumer Electronics, Automotive, Retail, Industrial, Commercial, Aerospace & Defense, Healthcare, and Others), by Region – Global Share and Forecast to 2027".
The global organic LED market size is expected to grow from USD 51,474.1 million in 2020 to USD 203,069.9 million by 2027, at a CAGR of 21.7% during the forecast period. OLEDs are now gaining ground in terms of their applications in mobile appliances. OLEDs are LED applications expected to witness a surge in the coming years. Backlighting applications revenue may decrease during the forecast period in terms of percentage increase in other sectors due to falling prices. However, it is one of the major application areas for OLEDs. Newer backlighting applications are anticipated to emerge in the coming years, further boosting the growth of the OLED market. Large screen TVs and laptops are primary devices that implement LED as backlighting. It has been quite some time since OLEDs were used as a backlight for mobile devices such as cellular phones, media devices, cameras, etc. The market sees growth in demand from large screen devices such as Large screen TVs and laptops.
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Global Organic LED Market Segmentation
The organic LED market has been segmented into product type, technology, end-users, and region.
- By Product Type (Display and Lighting)
- By Technology (Passive-Matrix OLED (PMOLED), Active-Matrix OLED, Transparent OLED, Foldable OLED, Top-Emitting OLED, and White OLED
- By End-Users (Consumer Electronics, Automotive, Retail, Industrial, Commercial, Aerospace & Defense, Healthcare, and Others)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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PMOLED, by technology, is estimated to hold the largest market share during the forecast period
The global organic LED market is analyzed based on technology as PMOLED, AMOLED, transparent OLED, top-emitting OLED, foldable OLED, and white OLE. PMOLED has the largest market revenue and accounted for the 21.6% of the market share in 2020. Passive-matrix OLEDs (PMOLED) have cathode strips, organic layers, and anode strips. PMOLED controls more power than other OLEDs. This is because PMOLED needs more power for external circuitry. PMOLEDs are more efficient for text and icons and are best suited for small screens such as smartphones. PMOLED offers good visibility and a wide viewing angle from a considerable distance. Moreover, PMOLED devices offer high contrast, high color saturation, and low heat generation.
The rise in the application of PMOLED displays in smartwatches, music players, automobiles, digital healthcare devices, and others majorly drives the growth of the PMOLED segment. Hence, an increase in demand for smartwatches, fitness trackers, and mobile healthcare devices would directly boost the growth of the PMOLED display segment in the future.
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North America accounts for the largest market share in the organic LED market in 2020
By region, the global organic LED market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America was the highest market contributor to the market and had accounted for the 37.9% of the market share. The organic light-emitting diode is used in various digital displays and lighting solutions in this region. North America comprises developed countries such as the U.S. and Canada. These countries have already discontinued their usage of incandescent lamps. These lamps are phasing out owing to the emergence of more energy-efficient light sources such as light-emitting diodes (LED) and organic light-emitting diodes (OLED).
OLEDs are predominantly used to display mobile screens, televisions, and wearables in the current business scenario. Manufacturers in the region are developing competitive high-performance manufacturing products that focus on environmental factors and meet industry standards. An increase in demand for eco-friendly displays and lighting solutions is one of the major factors driving the growth of the OLED market in the North America region. OLED displays are widely used in televisions and smartphones for high-quality screen displays by the enhanced picture quality. The rise in electricity consumption in this region also drives the growth of the OLED lighting market in North America. Increased application of OLEDs in commercial, automobiles, and displays would supplement the growth of the OLED market in North America.
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This research report covers an examination of the major firms' development and marketing tactics and an examination of their product portfolios and winning methods in the organic LED market. The prominent firms represented are OSRAM, Samsung Electronics, Philips, LG Electronics, AU Optronics, GE Lighting, Eaton, CREE, Panasonic Corporation, and Dialight PLC. These market competitors have concentrated on acquisitions and growth to achieve a greater market share in the organic LED industry.
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Market Statsville Group (MSG) is a business research and consulting platform of Statsville Consulting Private Limited, based in Oklahoma, USA. MSG is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and intelligent business insights. MSG has experienced research analysts who are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact. Furthermore, Market Statsville Group already benefited more than 1,000 companies each year for their revenue planning. It helped them take their disruptions/innovations early to the market by providing them research ahead of the curve.
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