Technavio, a tech-focused market research organization, has announced a new report on the global automotive OLED market, which is anticipated to grow at a CAGR of close to 17% during the calculated period 2017-2021.
Based on geographical segmentation, Technavio market researchers classify the global automotive OLED market into the following key regions: the Americas, APAC, and EMEA.
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Automotive OLED market in EMEA: The increasing demand for OLED lights by vehicle manufacturers from the luxury car segment will fuel the growth in the EMEA market. The presence of global leading vehicle manufacturers such as the Volkswagen, BMW, and Mercedes-Benz will help in the development of the EMEA market. Moreover, various major OLED manufacturers are collaborating to introduce products in the market that will contribute to the growth of this market during the estimated period.
According to Siddharth Jaiswal, a lead analyst at Technavio, specializing in research on automotive electronics, “The progress of a robust supply chain for OLED manufacturing on flexible substrates will encourage the vendors to launch innovative products in the EMEA market. The government is undertaking initiatives that will lead to the wide-scale installation of highly efficient and eco-friendly OLED lighting panels in vehicles in the region. These initiatives will also result in the increase in production, deployment, and installation of all forms of OLEDs in the EMEA market.”
Automotive OLED market in the Americas: The rising demand from passenger and commercial vehicle manufacturers will help drive the automotive OLED market in the Americas. The US will emerge as the key revenue generator in this region over the next few years. The Americas is witnessing increased demand for eco-friendly hybrid and electric vehicles, and this will drive the adoption of automotive OLED systems in the market. The increasing demand for special utility vehicle (SUVs) and luxury vehicles in Mexico and Canada will have a positive impact on the market’s growth.
Automotive OLED market in APAC: The increasing use of automotive OLED lighting by vehicle manufacturers such as Toyota Motor and Suzuki Motor will make APAC the fastest growing region in the global market. The vendors in the region are also investing in the research and development of OLED panels which, in turn, will boost the sales of these products in the market. The growth in the passenger cars segment in China and India will also help drive the growth of the OLED market significantly during the forecast period.
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The top key retailers operating in the global automotive OLED market are:
- Astron FIAMM
- LG Chem
- OSRAM
- Philips
Other prominent vendors in the market include GE, KONICA MINOLTA, NIPPON SEIKI, WINSTAR, and Visteon.
A more detailed analysis is accessible in the Technavio report named, ‘Global Automotive OLED Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global OLED Lighting Market 2017-2021
- Global OLED Display Market 2017-2021
- Global OLED Materials Market 2017-2021
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