The global organic LED market size reached US$ 45.41 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 145.8 Billion by 2028, exhibiting a growth rate (CAGR) of 20.84% during 2023-2028. The shifting preference of consumers towards AMOLED displays, continual advancements in OLED technology, and the emerging trend of switching toward eco-friendly lighting solutions represent some of the key factors driving the market.
|Organic LED Market Size in 2022
||US$ 45.41 Billion
|Organic LED Market Forecast in 2028
||US$ 145.8 Billion
|Organic LED Market Growth Rate 2023-2028
An organic light-emitting diode (OLED) refers to a flat light-emitting diode that offers superior power efficiency and brightness when compared to fluorescent tubes and incandescent bulbs. OLEDs are one of the most promising illumination technologies since their panels are made from organic materials that are energy efficient. The technology was developed by placing thin organic films between two conductors in order for the organic molecules to produce light. The benefits of OLEDs include wide viewing angles, improved contrast ratios, fast response times, and more saturated colors for enhanced viewing experiences. In comparison to LCDs, OLED panels are thinner, brighter, more transparent, lighter, and use lesser energy. As a result, OLEDs are extensively utilized in various devices, such as TV screens, computer monitors, smartphones, and handheld gaming consoles, to create flexible digital displays and lighting.
The shifting preference of consumers towards AMOLED displays from LCDs is one of the key factors driving the growth of the market. This can be attributed to the escalating demand for better visual experiences from television and smartphones. Also, the widespread adoption of various smart devices, including televisions, laptops, smartphones and tablets, is also acting as a significant growth-inducing factor for the market. Moreover, the augmenting uptake of high-quality OLED displays, such as HUDs, central stack displays and instrument clusters, in luxury cars, along with the rising sales of automobiles, is fueling the market. In addition to this, the rising investments by the major market players for the expansion of OLED display panel manufacturing facilities are providing an impetus to the market. Besides this, continual advancements in OLED technology, such as retina display technology and micro-LEDs, are creating lucrative growth opportunities. Furthermore, considerable growth in the semiconductor industry resulting in the reduction of raw material costs is impacting the market positively. The market is further propelled by the emerging trend of switching toward eco-friendly lighting solutions as well as smart lighting systems from their conventional counterparts among the masses. Some of the other factors creating a positive market outlook include rapid urbanization, a significant increase in various infrastructural development projects, and extensive research and development (R&D) activities conducted by key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global organic LED market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on product type, technology, application and end use sector.
Product Type Insights
The report has provided a detailed breakup and analysis of the organic LED market based on the product type. This includes display and lighting. According to the report, display represented the largest segment.
- Passive-Matrix OLED (PMOLED)
- Active-Matrix OLED (AMOLED)
- Transparent OLED
- Top-Emitting OLED
- White OLED
The report has provided a detailed breakup and analysis of the organic LED market based on the technology. This includes passive-matrix, active-matrix, transparent, top-emitting and white OLEDs, wherein Passive-Matrix OLED (PMOLED) exhibited a clear dominance in the market.
- Television and Monitors
- Laptops and Tablets
The report has provided a detailed breakup and analysis of the organic LED market based on the application. This includes television and monitors, smartphones, laptops and tablets, automotive, and others. According to the report, television and monitors represented the largest segment.
End Use Sector Insights
A detailed breakup and analysis of the organic LED market based on the end use sector has also been provided in the report. This includes commercial, residential, and industrial. According to the report, residential sector accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Asia Pacific was the largest market for organic LEDs. Some of the factors driving the Asia Pacific organic LED market include rapid urbanization, inflating disposable income levels, considerable growth in the semiconductor industry, continual advancements in OLED technology, expanding number of OLED display panel manufacturing facilities, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global organic LED market. Detailed profiles of all major companies have also been provided. Some of the companies covered include AUO Corporation, DuPont de Nemours Inc., Futaba Corporation, LG Electronics Inc. (LG Corporation), OLEDWorks, Osram Licht AG (ams AG), Panasonic Holdings Corporation, RITEK Corporation, Samsung Electronics Co. Ltd. (Samsung Group), Sony Group Corporation, Toshiba Corporation, Universal Display Corporation, Visionox Technology Inc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
||Product Type, Technology, Application, End Use Sector, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AUO Corporation, DuPont de Nemours Inc., Futaba Corporation, LG Electronics Inc. (LG Corporation), OLEDWorks, Osram Licht AG (ams AG), Panasonic Holdings Corporation, RITEK Corporation, Samsung Electronics Co. Ltd. (Samsung Group), Sony Group Corporation, Toshiba Corporation, Universal Display Corporation, Visionox Technology Inc, etc.
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Key Questions Answered in This Report:
- How has the global organic LED market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global organic LED market?
- What are the key regional markets?
- Which countries represent the most attractive organic LED markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on application?
- What is the breakup of the market based on end use sector?
- What is the competitive structure of the global organic LED market?
- Who are the key players/companies in the global organic LED market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the organic LED market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global organic LED market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the organic LED industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.