Smartphone Smart Watch Wearable Device Digital Cameras TV Sets
GEOGRAPHIC ANALYSIS
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERS
Samsung Electronics, AU Optronics Corp., LG Display Co. Ltd., Japan Display Inc., Innolux Corp., E Ink Holdings, Inc., Sharp Corp., BOE Technology Group Co., Ltd, Corning Incorporated, Visionox Corporation.
Introduction:
Organic Light Emitting Diode (OLED) technology has captured the imagination of consumers and industry experts alike in recent years. Vibrant colors, deeper blacks and energy-efficient OLED screens have revolutionized the visual experience of various electronic devices. This blog explores the dynamic landscape of the OLED market, delving into its evolution, technological advances and various applications. From smartphones and televisions to portable and automotive displays, OLED devices are setting new standards for display quality and versatility.
Global OLED market Size Was Estimated At USD 45.95 Billion In 2023 And Is Projected To Reach USD 63.15 Billion By 2032, At CAGR Of 19.4% (2024-2032)
Through the complex world of OLED technology, we reveal the forces behind its rapid adoption, the key players shaping its future and the transformative impact it will have on the consumer electronics industry. Whether you're a techie, industry professional or just curious about the future of display technology, this blog aims to shed light on the exciting developments and opportunities in the OLED market.
Market Overview:
The OLED market report represents the collected information about the industry or the market of different industries. The OLED market report includes both quantitative and qualitative data analysis and the forecast period of the report extends from 2023 to 2030. Various factors such as product prices, distribution of products or services both in the country and in the region are considered while preparing a report levels, country GDP, market dynamics of parent and sub markets, end application industry, key players, consumer buying behavior, economic, political, social scenarios of countries and many others. The report is divided into various segments to provide a detailed analysis of the market from all possible aspects. The overall report focuses on key sections such as - market segments, market outlook, competitive landscape and company profiles. Segments provide details on various aspects such as end-use industry, product or service types, and any other relevant segmentation as per the current market scenario, which includes various aspects to carry out downstream marketing activities. The market outlook section includes a detailed analysis of market developments, growth drivers, restraints, opportunities and challenges, Porter's 5 Force framework, macroeconomic analysis, value chain analysis and pricing analysis that directly affect the market currently and during the forecast period.
High manufacturing costs: OLED displays can be more expensive to manufacture compared to traditional LCD displays, limiting mass adoption in lower-cost consumer electronics.
Limited production capacity: There have been problems ramping up production capacity for OLED displays, which has limited supply and affected prices.
Lifespan and burn-in issues: OLED displays can experience issues over time, such as screen burn-in, that affect their longevity and reliability, especially in applications that require the continuous display of still images.
Competing LCD technology: LCDs continue to dominate the market due to their established manufacturing infrastructure and lower costs, which is a competitive challenge for OLED adoption, especially for mid-range products.
OLED Market
Share, by end user, (USD Billion)
45.95 Billion %
Smartphone
Smart Watch
Wearable Device
Digital Cameras
Other End-Users
63.15 Billion
Total Market Size
USD (Billion),
19.4%
CAGR
-
Technical challenges: Despite progress, challenges such as improving the efficiency of blue OLEDs and improving the durability of flexible OLEDs remain, affecting their widespread use in certain applications.
Market Opportunities:
Healthcare applications
AR/VR devices
Emerging markets
Automotive innovations
Industrial and IoT applications
Advancements in large-area OLEDs
Customization and personalization
Key Players:
Samsung Electronics
AU Optronics Corp.
LG Display Co. Ltd.
Japan Display Inc.
Innolux Corp.
E Ink Holdings, Inc.
Sharp Corp.
BOE Technology Group Co., Ltd
Corning Incorporated
Visionox Corporation
Recent Development:
July 10 2024, Samsung Electronics will host Galaxy Unpacked in Paris — where the iconic cultural nexus and trend epicenter becomes the perfect backdrop for the rollout of our latest cutting-edge innovations. The event will be streamed live on Samsung.com, Samsung Newsroom and Samsung’s YouTube channel at 3 p.m. CEST, 6 a.m. PDT, 9 a.m. EDT.
June 24, 2024 – LG Display, the world’s leading innovator of display technologies, announced today that it has started mass production of the industry’s first 13-inch Tandem OLED panel for laptops.
OLED Market
Size, by Product, - (USD Billion)
The Market will Grow
At the CAGR of:
19.4%
The Forecast Market
Size for in USD:
$63.15 Billion
Market Insights:
Technology Adoption: OLED technology is gaining ground in consumer electronics due to its superior display quality and energy efficiency compared to traditional liquid crystal displays.
Competitive Dynamics: Major players such as Samsung Display and LG Display dominate the OLED market, driving innovation and influencing pricing and supply dynamics.
Consumer preferences: Consumers increasingly prefer OLED displays in smartphones, TVs and mobile devices due to their vibrant colors, high contrast and slim form factors.
Industry Trends: Automakers are increasingly incorporating OLED displays into vehicles due to their design flexibility and advanced lighting capabilities that improve user experience and safety.
Innovative Applications: OLED technology is expanding beyond conventional displays into areas such as foldable displays, transparent displays and lighting solutions, paving the way for new product categories and user experiences.
Research Methodology
The qualitative and quantitative data of the OLED Display Market is prepared through various research considerations such as subject matter expert advice, primary and secondary research. Primary research leverages valuable information from face-to-face and/or telephonic interviews and surveys, questionnaires, industry expert opinion, KOLs, customers, and others. Primary interviews are conducted regularly with industry experts to create in-depth expert information on the market and to substantiate the existing analysis of the data.
Secondary research done by Verified Market Reports research team through various sources such as
Company websites, annual reports, financial reports, investor presentations and SEC filings
Internal and external proprietary databases, relevant patent, and regulatory databases
National government documents, statistical databases, and market reports
News articles, press releases and web-casts specific to the companies operating in the market
Smartphone Smart Watch Wearable Device Digital Cameras TV Sets
GEOGRAPHIC ANALYSIS
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
KEY PLAYERS
Samsung Electronics, AU Optronics Corp., LG Display Co. Ltd., Japan Display Inc., Innolux Corp., E Ink Holdings, Inc., Sharp Corp., BOE Technology Group Co., Ltd, Corning Incorporated, Visionox Corporation.
Identifying Key Products in the Market
The identification of key products in any market is pivotal for understanding what drives consumer interest, technological innovation, and competitive advantage. Here’s how to approach this:
Market Analysis Reports: Start with syndicated market analysis reports from firms like Nielsen, Euromonitor, or specialized industry analysts. These reports often highlight leading products based on sales data, innovation, and consumer feedback.
Patent Filings: Reviewing patent filings can provide insight into technological innovations and future products that may impact the market. Databases like the United States Patent and Trademark Office (USPTO) or the World Intellectual Property Organization (WIPO) can be invaluable.
Ecommerce Platforms and Retailer Websites: Analyzing bestselling products and customer reviews on platforms such as Amazon, Flipkart, or direct retailer websites can offer direct insights into consumer preferences and product popularity.
Consumer Surveys and Feedback: Conducting surveys or analyzing online forums and social media can reveal consumer preferences, pain points, and desired features in products. Tools like SurveyMonkey, Google Surveys, or social listening platforms can facilitate this process.
Segmenting the Market and Products
Market and product segmentation is crucial for targeting marketing efforts and product development. Here’s a methodology for segmenting based on technical specifications:
Technical Specifications Review: Compile a comprehensive list of products within the market, focusing on their technical specifications. This could involve processor speeds for electronics, ingredients for food products, or material composition for apparel.
Factor Analysis: Use statistical techniques like factor analysis to group products based on shared technical specifications. This method helps identify underlying relationships between different specifications and how they cluster together.
Expert Consultation: Engage with industry experts or technical specialists to ensure that the segmentation makes sense from both a market and a technical perspective. This step ensures the practical relevance of the segments identified.
Identifying and Classifying Key Application Segments
Understanding how products are used in different applications is essential for market strategy:
Use Case Analysis: Identify common use cases for products by reviewing product literature, customer testimonials, and case studies. This helps understand the variety of applications each product serves.
Industry Surveys: Conduct surveys targeting professionals in the field to understand how and why certain products are preferred in specific applications. This can also reveal unmet needs in the market.
ApplicationBased Segmentation: Group products based on their primary applications, considering factors such as industry use, consumer vs. professional use, and environmental conditions.
Calculating Market Size Using TopDown and BottomUp Approaches
Estimating the market size accurately is fundamental for strategic planning:
TopDown Approach: Start with global industry data and narrow down to the target market by applying known market shares or segmentation percentages. Industry reports and financial databases are key sources for this approach.
BottomUp Approach: Aggregate sales data or unit shipments from all known market participants. This might require gathering data from company reports, industry associations, and sales channels.
Combining Approaches: Validate the market size estimates by comparing the results from both approaches. Discrepancies can highlight areas requiring further investigation.
Calculating the CAGR for the Market
The Compound Annual Growth Rate (CAGR) is a useful measure to understand market growth over time:
Historical Sales Data: Gather historical sales or market size data over a defined period. Public company filings, industry reports, and government databases can be sources for this data.
CAGR Formula: Apply the CAGR formula \[CAGR = (EV/BV)^{1/n} 1\], where EV is the end value, BV is the beginning value, and n is the number of periods.
Segment and Overall Market CAGR: Calculate CAGR for both the overall market and individual segments to understand growth patterns.
Sources for Secondary or Desk Research
Identifying the right sources is crucial for accurate desk research:
Industry and Market Research Reports: Sources like IBISWorld, Statista, and Frost & Sullivan offer comprehensive industry reports.
Government and International Organizations: Websites of the U.S. Census Bureau, World Bank, and OECD provide economic and industry specific data.
Academic Journals: Platforms like Google Scholar and JSTOR can offer peer reviewed articles on market trends and consumer behavior.
News Archives and Trade Publications: Stay informed on industry developments through sources like Bloomberg, Reuters, and specific trade journals relevant to the market in question.
Each of these steps requires careful consideration and a systematic approach to ensure that the market research report is robust, insightful, and actionable.
We asked them to research ‘ Equipment market’ all over the world, and their whole arrangement was helpful to us. Analytica.global insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
Yosuke Mitsui
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We asked them to research ‘Equipment market’ all over the world, and their whole arrangement was helpful to us. Analytica.global insightful analysis and reports contributed to our current analysis and in creating a future strategy. Besides, the te
Yosuke Mitsui
Senior Associate Construction Equipment Sales & Marketing
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