OLED Display Market: Introduction
Various features of OLED displays, such as light weight and flexible plastic substrates, are increasing its application in various electronic gadgets and significantly contributing to the growth of the global OLED display market. An organic light emitting diode (OLED) is an emissive electroluminescent layer of organic compound that emits light in response to an electric current. OLED displays are flat light emitting systems created by placing a series of organic thin films between two conductors. When current is applied, bright light is emitted. OLED displays are emissive displays and do not require backlight. They are thinner and efficient when compared to LED displays. OLED displays can be transparent, stretchable, flexible and foldable. They consume less power and provide higher brightness, better contrast, full viewing angle, wide color range and faster refresh rates. OLED displays can operate in a broad temperature range, have simple design and are highly durable. Vendors are continuously focused on innovating new OLED displays. Many different kinds of OLED displays are available in the market, such as curved OLED displays, wearable OLED displays, transparent OLED displays, foldable OLED displays and others.
OLED displays are made of hydrogen and carbon and hence, termed as organic LED. OLED displays are an example of green technology as they do not contain any harmful metals. OLED display are witnessing wide adoption in digital cameras, smartphones, laptops, tablets, VR sets, TVs and others. Top or bottom emission refers to the direction that the emitted light takes. If the emitted light passes through the transparent bottom electrode and substrate on which the panel was manufactured, the system is called bottom emission OLED display. Transparent OLED displays use transparent contacts on both sides of the device. Graded heterojunction OLED displays gradually decrease the ratio of electron holes to electron transporting chemicals. Stacked OLED displays use a pixel architecture that stacks the red, blue, and green subpixels on top of each another. Several developments in OLED displays with reference to display technology, steady growth of the market and recent developments & innovations are some of the factors expected to drive the global OLED display market during the forecast period.
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OLED Display Market: Drivers and challenges
One of the major drivers for OLED display market is increasing adoption of wearable gadgets. OLED displays find major applications in smart devices and wearable gadgets. Various features of OLED displays, such as low cost, high durability, transparency offered and flexibility, are some of the major factors that will increase the adoption of OLED displays and significantly contribute to the growth of the OLED display market during the forecast period. The use OLED displays in handheld gadgets is also expected to drive the OLED display market during the forecast period. Growing demand for compact and smaller gadgets is another factor expected to fuel the global OLED display market during the forecast period.
One of the major challenges for the OLED display market is device failure when exposed to direct sunlight. However, vendors are continuously focused on bringing improvements in OLED displays and are expected to soon overcome this challenge.
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OLED Display Market: Segmentation
Segmentation based on the type:
The OLED Display market is segmented based on type into active OLED display and passive OLED display.
Segmentation based on the application:
The OLED Display market is segmented based on application i.into wearable devices, handheld devices, sub display and others.
Segmentation based on the display type:
The OLED Display market is segmented based on display type i.into flexible, rigid, and others.
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OLED Display Market: Key Players
Some of the key players in the OLED Display market are Samsung, LG Electronics Inc., Sony Corporation, Nokia, Panasonic Corporation, Newhaven Display International, Inc., Mouser Electronics, Inc., 4D Systems, Raystar, Digilent and others.
OLED Display Market: Regional Overview
North America and Europe are expected to hold major market share in the OLED display market due to high adoption of smart gadgets and advanced technologies. APEJ is expected to grow at a significant growth rate during the forecast period due to the drastic shift in the economies of developing countries and increasing adoption of wearable devices. Vendors are also highly focused on tapping into the emerging markets of APEJ.
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