OLED: Key market research findings
- Adoption of OLED technology in the automotive sector drives market growth
- APAC dominates the market geographically
- Key vendors – LG, Samsung, Konica Minolta, and Osram
Technavio’s market research analysts predict the global OLED market to grow at a CAGR of almost 15% between 2016 and 2020. The growth of the market is augmented by the transformation of automotive display units. An increasing number of car manufacturers have started deploying organic light-emitting diode (OLED) technology in display and lighting parts of their vehicles. OLEDs provide automakers with the ability to use improved luminaires and lamp designs in automobiles for taillights, headlights, and interior lighting applications. At present, APAC dominates the global OLED market by holding around 47% of the overall market revenue. The presence of major prominent vendors such as LG and Samsung in the region is expected to contribute to the growth of the OLED market in APAC during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the OLED segments based on the application.
“The market is currently witnessing an increase in the adoption of foldable OLED, or FOLED, and transparent organic light emitting diode (TOLED) applications. FOLEDs are made of flexible organic materials and can be built using plastic, glass, or even metal. They are more durable, thinner, and lighter than flat OLEDs. Manufacturers are exhibiting prototypes of FOLED devices at various events, and some of them have even launched several products,” says Asif Ghani, Lead Analyst, Semiconductor, Technavio Research.
During 2015, the display panel segment accounted for over 99% of the overall market share to become the key revenue generating segment in the OLED market globally. One of the key developments expected in the market is the emergence of surface and flexible displays. Vendors such as Samsung and LG are focusing on the rapid commercialization of OLED display devices to improve their market shares. The adoption of OLED technology in smartphones and wearables owing to outstanding clarity will further fuel growth in this segment by 2020.
The key vendors in the market include LG, Samsung, Konica Minolta, and Osram. The level of competition in the market is moderate as LG and Samsung are the only dominant vendors in the global OLED market. As a result, most smartphone manufacturers rely on both these companies for mobile device displays. Additionally, it has also been observed that the level of competition in this market will not increase as developing the infrastructure required to manufacture OLEDs is expensive and time-consuming. However, many Chinese vendors such as BOE and CSOT are investing huge amounts to create platforms to develop the technology in their premise. Furthermore, Foxconn is also planning to enter the OLED market through the acquisition of Sharp but will face intense competition from Apple and Samsung.
A more detailed analysis is available in the Technavio report, Global OLED Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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