Organic LED Market Size, Share, Growth, Trends, Production, Consumption, Revenue and Forecast 2020 to 2027

Published Date : Jan 2020 | No. of Pages : 200 Pages | Category : Semiconductor and Electronic

The global organic LED market was valued at USD 32,463.5 million in 2019, and is projected to reach USD 203,069.9 million by 2027, registering a CAGR of 21.7% from 2020 to 2027.

OLED, also known as organic light emitting diode is a flat light emitting diode technology developed by placing thin organic films between two conductors. OLED is one of the most promising display and lighting technologies that has the capability of offering power efficiency lighting and is superior compared to the fluorescent tubes and incandescent bulbs. OLED technology helps the end user to create flexible display and lighting panels.

According to organic LED market trends, OLED technology is garnering more acceptance among end users since they are thinner, brighter, lighter in weight, more power efficient, and offer higher contrast as compared to LCDs. OLEDs offer wide viewing angles, faster response time, higher contrast ratios and more saturated colors to enhance viewing experience of end users. They are expensive as compared to LED and LCD products. However, the price of these products is expected to decrease once the products get more acceptance in the organic LED market.

Various emerging and developed economies around the world are working towards switching to energy efficient lighting solutions. Experts have predicted that OLED technology would meet the required performance and pricing targets in the future, which would facilitate smooth transition from conventional to efficient lighting solutions. Moreover, government and industry funding for R&D is expected to boost the process of addressing the technological challenges for the OLED lighting solution.

As per organic LED market analysis,Xiaomi has announced the launch of its product Mi 10 and Mi 10 pro which has incorporated AMOLED display. The company has incorporated OLED display to ensure flexible and image efficient display feature for its devices. In addition, Samsung has also announced its launch of its second foldable OLED phone with the name Samsung Galaxy Z flip. The company has also incorporated AMOLED display due to its efficiency.

Rising application of PMOLED displays in smart watches, music players, automobile, digital healthcare devices and others can act as a major driving factor for the PMOLED segment. Hence, increase in demand for smart watches, fitness trackers, and mobile healthcare devices is expected todirectly boost the growth of PMOLED display segment in future.

Factors such as high demand for cost effective and energy-saving OLED lighting, increasing government initiatives toward OLED adoption, and growth in display and large screen backlight market act as major drivers, driving the organic LED market growth globally. However, problems pertaining to high cost of the technology and various technological limitations hampers the organic LED market to a certain extent. Furthermore, increase in demand for eco-friendly lighting solutions and surge in adoption of smart lighting system is expected to offer lucrative organic LED market opportunity globally.

Segmentation

The global organic LED market analysis is based on product type, technology, end use, and geography. On the basis of product type, the market is bifurcated into displays and lightings. Based on technology, the organic LED market share is analyzed across PMOLED, AMOLED, transparent OLED, top-emitting OLED, foldable OLED, and white OLED. On the basis of end use, the organic LED market size is analyzed across consumer electronics, automotive, retail, industrial, commercial, aerospace & defense, healthcare and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA, along with its prominent countries.

The key organic LED Industry leaders profiled in the report include LG Electronics, Philips, OSRAM, Samsung Electronics, Panasonic Corporation, AU Optronics, CREE, GE Lighting, Eaton, and Universal Display Corporation. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.

Top Impacting Factors

The significant factors impacting the growth of the global organic LED market forecast include high demand for cost-effective and energy-saving OLED lighting, increase in government initiatives toward OLED adoption and growth in display and large screen backlight market. However, high cost associated with organic LED market and various technological limitations act as the major barriers for early adoption, thereby hampering the growth of the market. On the contrary, increase in demand for eco-friendly lighting solutions and rise in adoption of smart lighting systems are anticipated to provide lucrative opportunities for organic LED market during the forecast period.

High-demand for cost-effective and energy-saving OLED Lighting

Lighting consumes approximately 15% of the total global power consumption. Moreover, lights produce around 5% of global carbon emission. Thus, the United Nations Environment Programme (UNEP) has released certain guidelines on energy-saving lighting solutions to reduce carbon emissions. With rapid urbanization and rapid economic growth in Europe and Middle East countries, the lighting industry the regions are expected to grow exponentially over the next two decades, resulting in more high demand for OLED based lighting. Thus, need for more LED-based lighting for effective energy saving and cost saving is expected to drive the growth of the OLED lighting market globally in the coming years.

Increase in government initiatives towards OLED adoption

Governments from various countries have focused on deploying OLED technology-based lights to curb cost and pollution. The positive attitude of various countries toward the adoption of OLED lighting technology propels the growth of the global market. For instance, the German Government provides subsidies to municipalities to replace lightings in publicly owned facilities such as old street lighting with new OLED technology. Furthermore, the Middle East countries have the presence of “The Middle East Lighting Association (MELA)”, which is an international non-profit association formed by the partnership of Gulf Advanced Lighting, GE Lighting, Osram, Philips Lighting and Tridonic. MELA principle aims to represent the interests of the leading lighting product manufacturers in their support to legislators across the region in drafting and implementing policy, standards, and regulations for lighting related products and services across the Middle East region. In addition, the association is dedicated toward promoting energy efficient lighting practice for the benefit of global environment, human comfort, and health & safety of consumers. Therefore, all these increasing government mandates and initiatives toward the adoption of OLED lighting system significantly fuel the growth of the OLED market globally.

High cost of the technology

OLEDs are considered costly because of the high initial capital cost in comparison to conventional lighting technologies. Further, cost includes circuitry and power supplies required. However, this is the perspective for the initial investment, the total cost (considering the lifetime of OLED) would be lower than conventional technologies. The total cost of ownership of OLEDs including the maintenance and energy cost is lower than that of the LED and LCD sources. Also, the high investments in initial level restricts initial acceptance of OLEDs. In addition, OLED is material intensive product; hence manufacturing of OLED display or lighting is expensive. Moreover, large capital and government approval are required to set up new manufacturing plants. As the technology is comparatively new and highly skill intensive, setting up completely new manufacturing plants require large capital. This is expected to hamper the growth of the OLED market to a certain extent.

Global Organic Oled Market Segmentation

BY PRODUCT TYPE

  • Display

  • Lighting

BY TECHNOLOGY

  • Passive-Matrix OLED (PMOLED)

  • Active-Matrix OLED (AMOLED)

  • Transparent OLED

  • Top-Emitting OLED

  • Foldable OLED

  • White OLED

BY END USE

  • Consumer Electronics

  • Automotive

  • Retail

  • Industrial

  • Commercial

  • Aerospace & Defense

  • Healthcare

  • Others

BY REGION

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Russia

    • Rest of Europe

  • Asia-Pacific

    • China

    • Japan

    • India

    • South Korea

    • Rest of Asia-Pacific

  • LAMEA

    • Latin America

    • Middle East

    • Africa

The Organic LED market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Organic LED market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Organic LED market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Organic LED market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Organic LED market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Organic LED capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Organic LED by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Organic LED market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Organic LED market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Organic LED market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Organic LED industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Organic LED market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Organic LED market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Organic LED market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Organic LED market. These factors have benefited the growth of the global market for Organic LED. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Organic LED. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Organic LED are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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