by The global OLED displays market is estimated to be valued at US$ 39.22 Mn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031. OLED or Organic Light Emitting Diode is a light emitting technology that utilizes thin film made from organic semiconducting materials that emit light when electricity is applied. These OLED displays provide self-emissive properties, high contrast, wide viewing angles and energy efficiency over the conventional LCD displays.
OLED displays have gained tremendous popularity among consumer electronics companies to design slimmer and flexible displays for smartphones, televisions and other digital devices. Key players operating in the OLED displays market include Samsung Electronics, AU Optronics Corp, TDK, Sony Corporation, Rit Display, LG Display, Pioneer, and Visionox. The rising demand for large screen televisions with excellent picture quality has boosted the adoption of OLED televisions globally.
Key Takeaways
Key players operating in the OLED displays market are Samsung Electronics, AU Optronics Corp, TDK, Sony Corporation, Rit Display, LG Display, Pioneer, and Visionox. Samsung Electronics is a leading player with a wide range of OLED panels for smartphones, televisions and other consumer electronics. TDK and Sony Corporation are also prominent suppliers of OLED display panels and related components.
The rising demand for energy efficient and slim displays across consumer electronics devices has propelled the OLED Displays Market Growth. Popularity of virtual reality headsets, foldable smartphones and smart watches has further augmented the market. OLED displays provide aesthetic and power saving features highly desired by consumers.
Led by Samsung, LG and other Asian giants, major players are expanding their OLED production capacity worldwide. Samsung aims to manufacture over 10 million OLED panels per month by 2025 to tap the expected rise in demand. Companies are also collaborating with panel makers to accelerate innovations.
Market Key Trends
The growing adoption of flexible OLED displays is a key trend in the market. Flexible OLED panels allow folding, rolling and twisting displays enabling innovative form factors. Smartphone brands are introducing foldable phones with flexible OLED screens. This has encouraged display makers to ramp up flexible OLED production. Rapid advancements in materials, component miniaturization and manufacturing are fuelling innovations with flexible displays.
Porter’s Analysis
Threat of new entrants: High capital investments required to set up an OLED manufacturing facility limits threat of new entrants. However threats from Chinese manufacturers remain.
Bargaining power of buyers: Large buyers such as Samsung, Apple have significant bargaining power due to their high buying volumes.
Bargaining power of suppliers: Suppliers of core OLED materials and components such as fluorocarbon film, polarizing film enjoy some bargaining power given specialized expertise required.
Threat of new substitutes: Technologies such as Micro-LEDs have potential to substitute OLEDs in signage and TV applications but are currently at a nascent stage.
Competitive rivalry: Intense competition exists among global display majors like Samsung and local Chinese brands on pricing and technological innovations.
Geographical Concentration
Currently North America and Asia Pacific together account for over 60% of global Oled Displays Market Size and Trends. Strong demand from consumer electronics and automotive sectors majorly from USA, China, South Korea is driving higher adoption of OLED panels in these regions.
Fastest Growing Region
The Europe OLED displays market is expected to witness fastest value CAGR of over 15% during the forecast period. Rapid uptake of OLED TVs along with initiatives to promote local production is fueling market growth in countries like Germany, UK and France. Increasing demand for curved and flexible OLED panels from automotive industry further supports regional market expansion.
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*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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