London, 6 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global OLED lighting panel market 2015-2019, which is expected to grow at a CAGR of 70.29% during the forecast period of 2014-2019.
Factors such as design flexibility and lower power consumption are responsible for increasing the demand for organic light-emitting diode (OLED) lighting panels. Recent technological developments have resulted in the production of OLED panels that are flexible, transparent, and color-tunable. Application of OLEDs in various sectors like commercial, residential, hospitality, and architecture help to boost its demand. In the future, OLEDs are expected to replace LEDs as they are technologically advanced and are more efficient in terms of electricity consumption.
“Companies are expected to select specific materials suppliers to provide specific inputs. This integration will enable the OLED lighting panel manufacturer to develop the panel with little or no uncertainty of the available materials,” says Faisal Ghaus, Vice President of Technavio.
“As the technology is still in its developing stage, very limited players are able to develop the technology. Integration will ensure the availability of the product on time when the demand rises. This will also enable the players to deliver the desired quantity and set the correct price in the market.”
Key Market Drivers:
- Design Flexibility.
- Inherent Advantages of OLED.
- Initiatives toward Eco-friendly Lighting Products.
- Structural Advantage.
Key Market Trends:
- Supply Chain Integration.
- Rapid Commercialization.
- Increasing R&D Spending.
- Rapid Technological Advancement.
Key Market Vendors:
- Konica Minolta Inc.
- LG Chem Ltd.
- Philips Electronics Ltd.
- Universal Display Corp.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
