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.
New York, March 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "OLED Market with COVID-19 Impact Analysis by Product Type, Panel Type, Panel Size, Technology, Vertical And Geography - Global Forecast to 2026" - https://www.reportlinker.com/p05210113/?utm_source=GNW
However, Similar benefits of micro-LED and direct-view LED display technologies similar to OLED hampering the growth of the market.
OLED lighting to witness a higher CAGR during the forecast period.
OLED technology is gaining momentum in general lighting applications owing to superior performance and wide light source coverage offered by it.OLED lighting products are energy-efficient and are deployed in green buildings.
The general lighting segment is expected to continue to account for the larger size of the OLED lighting during the forecast period.However, the automotive lighting segment is anticipated to grow at a higher CAGR during 2021–2026.
The higher growth of the automotive lighting segment can be attributed to the high demand from luxury car manufacturers for premium quality lightings, along with a rise in the number of collaborations of OLED manufacturers with leading automotive companies for the development of flexible lightings for vehicles.
Consumer vertical to account the largest share during the forecast period.
The consumer electronics market is growing at a very fast speed with remarkable advancements in technology, such as improving picture clarity in large-screen TVs and the evolution of smartphones.OLED technology enables the development of these advanced products.
Factors driving the demand for OLED products in the consumer segment include technological advancements in consumer devices and economic growth worldwide.Smartphones and television sets use OLED display extensively.
Moreover, various display panel manufacturers have reported an increase in the sale of mobile displays due to new product launches and an improved supply-demand environment for large panels even during the pandemic. Thus, smartphones, televisions, and smart wearables (especially smartwatches and VR HMDs) would be the major product categories driving the growth of the consumer segment during the forecast period.
APAC to account the largest share during 2021–2026.
APAC is leading the OLED market in terms of market share owing to the high demand for OLED display panels from smartphone vendors and OEMs in China, Japan, Taiwan, and South Korea.Additionally, several key original brand manufacturers and the majority of display manufacturers are based in APAC.
Many operations, such as R&D, manufacturing, and assembly, related to OLED displays are being shifted to China owing to the low cost of logistics operations associated with the delivery of end products in the OLED display market. China is also emerging as a leading consumer product manufacturing hub with local players expanding their market share in all segments.
In-depth interviews have been conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the OLED marketplace.
• By Company Type: Tier 1 - 25%, Tier 2 – 40%, and Tier 3 - 35%
• By Designation: C-Level Executives - 75% and Managers - 25%
• By Region: North America - 40%, Europe - 23%, APAC - 26%, and RoW 11%
The OLED market comprises major players such as Samsung Electronics (South Korea), LG Display (South Korea), BOE Technology (China), AU Optronics (Taiwan), Universal Display Corporation (US), AU Optronics (Taiwan), and Tianma Microelectronics (China). The study includes an in-depth competitive analysis of these key players in the OLED market, with their company profiles, recent developments, and key market strategies.
The report defines, describes, and forecasts the OLED market based on product type, application, panel type, panel size, technology, vertical, and region.It provides detailed information regarding factors such as drivers, restraints, opportunities, and challenges influencing the growth of the OLED market.
It also analyzes competitive developments such as product launches, acquisitions, expansions, contracts, partnerships, and developments carried out by the key players to grow in the market.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall OLED market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.
The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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