OLED Market

The global OLED market size was valued at USD 38.4 billion in 2021 and is projected to reach USD 72.8 billion by 2026. It is expected to grow at a CAGR of 13.6% during the forecast period. Rapid adoption of OLED displays in smartphones, significant investments in building new facilities to manufacture OLED panels, high demand for better viewing experience, especially from smartphone and television consumers, rapid advances in OLED technology, increased demand for AMOLED displays in AR/VR headset applications, and financial support from governments worldwide for OLED lighting research are the key driving factors for the OLED market.

Major OLED companies Include:

• Samsung Electronics (South Korea),
• LG Display (South Korea),
• BOE Technology (China),
• AU Optronics (Taiwan),
• Universal Display Corporation (US), and T
• ianma Microelectronics (China). These top players have strong portfolios of OLED products and presence in both mature and emerging markets.

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Samsung Electronics is a leading developer and manufacturer of electronics and computer peripherals. The company operates through three business segments, namely, Consumer Electronics (CE), Information Technology & Mobile Communications (IM), and Device Solutions (DS), which comprises a semiconductor, Display panel (DP), and Harman. The Consumer Electronics (CE) segment comprises cable televisions, monitors, printers, air-conditioners, refrigerators, washing machines, and medical devices, whereas Information Technology & Mobile Communications (IM) comprises handheld products, communication systems, computers, and digital cameras. The Device Solutions business division comprises memory systems, large-scale integrated circuits, and light-emitting diodes. The Display Panels division designs and manufactures LED-LCD, QD-LCD, and OLED display panels. The Consumer Electronics (CE) and IT & Mobile Communications (IM) divisions fall under Samsung Research, which is the advanced research and development (R&D) hub of Samsung Electronics. The hub leads the development of future technologies with more than 10,000 researchers and developers working in overseas R&D centers.

Samsung maintained its leading position in the OLED display market; it has consistently introduced products with high resolution, low power consumption, low cost, and high yield rate. With the rapidly growing demand for OLED displays, the company has captured a majority of the market owing to its technological expertise and quick expansion of production capabilities. It is focused on developing display solutions for evolving use cases such as wearable and flexible devices and automotive systems. Samsung has enhanced its smart signage product portfolio by developing all-in-one software solutions that cover customer needs, including content creation and scheduling, interactive e-board presentations, and in-house hotel media management.

 LG Display is a part of LG Electronics and is listed on the Korea Stock Exchange and New York Stock Exchange. LG Display is now one of the leading manufacturers of TFT-LCD panels, OLED display panels, and flexible displays. It uses technologies such as film-type patterned retarder (FPR), advanced high-performance in-plane switching (AH-IPS), and organic light-emitting diode (OLED) to develop display panels. The company manufactures OLED display panels for televisions, desktop monitors, notebook computers, tablet computers, mobiles, and other applications (industrial, entertainment systems, automobiles, portable navigation devices, medical diagnostic equipment, etc.). It undertakes continuous research and development and investments in next-generation displays such as flexible and transparent displays.

LG is considered as one of the major companies to offer a broad portfolio of OLED solutions globally. It offers a wide range of OLED display panels for televisions, smartphones, tablets, desktop computers, automobiles, and smart wearables. It is focused on offering cost-competitive display products and maintains stable and long-term relationships with its customers. The company is more focused on the development of automotive OLED display panels for autonomous cars. The company invests a significant portion of its revenue in R&D activities, which has helped the company maintain a leading position in the OLED market. It has a sound financial condition and has been active in exploring and preparing for new business opportunities. LG has a broad portfolio of OLED digital displays for use in various commercial applications, which has helped it to make significant advancements in terms of market growth.

Related Reports:

OLED Market with COVID-19 Impact Analysis by Product Type (Smartphones, Television Sets, Smart Wearables, Large Format Displays), Panel Type, Panel Size, Technology, Vertical, and Geography - Global Forecast to 2026

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