Market Overview —
The OLED panel market is expected to grow at a CAGR of 15.44% over the forecast period (2019-2024). OLED panels continue to be a significant display technology trend adopted across the world, with larger screen sizes, improved 8K resolution, and relatively new form factors.
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- Display panels form a connection bridge between a consumer and the information universe. Not only on traditional technologies like television displays, but Oled also feature prominently in many significant technology trends, such as automotive, virtual reality, IoT, and connectivity.
- Samsung after working on the technology for so long is now making dual-curved displays incorporated in their high-end smartphones, which is not the case when compared to other Android-based smartphone manufacturers. Also, LG has been working on the technology too and has set its target to ship 2.8 million OLED TV panels in 2018, which is a 64.7% increase from 2017.
- Although display technology in smartphones has been improving for years, a screen is an important feature in a smartphone but there is a lot more in a smartphone than just a screen. While prototypes have been in demand for a long time, no company is willing to take a risk and launch a smartphone with a fully flexible display.
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OLED (Organic Light Emitting Diodes) is a flat light emitting technology, made by placing a series of organic thin films between two conductors. OLEDs are emissive displays that do not require a backlight but emit bright light whenever electric current is passed through them.
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Key Market Trends
Mobile and Tablet to Witness High Growth
- An organic light-emitting diode (OLED) requires no additional backlighting and is emissive due to which it overshadows the flat panel displays traditionally used in mobiles and tablets. Additionally, due to the superior properties like less thickness and bright output, mobile manufacturers have been increasingly incorporating OLED panels in their product, which is likely to drive the market growth.
- Specifically, the flexible OLED panels are expected to dominate the next generation of smartphones and tablets market due to several differentiating factors, such as lightweight, thinner, immersive screen, and bezel-less design.
- Apple one of the biggest smartphone producer, in its latest product, iPhone X, has utilized flexible AMOLED with super retina display technology which has compelled the shift in the smartphone industry. This is likely to exceedingly strengthen the adoption of these panels across the industry, thereby driving the market growth with a significant impact over the forecast period.
- Additionally, Samsung Electronics, one of the leaders in the OLED panels market incorporates AMOLED and Super AMOLED displays in most of its smartphones and is now focusing on flexible OLED panels than LCD.
Asia-Pacific Occupies the Largest Market Share
- Asia-Pacific is the biggest market for OLED panels as most of the key players including Samsung, LG, AUO, Panasonic among others, have their base and major manufacturing facilities in this region. Additionally, several tablet vendors, TV manufacturers, and signage display manufacturers, and other vendors have their headquarters in the APAC region.
- South Korea, despite its small size, currently has the most extensive network of academic R&D in OLED technology. The country has been witnessing huge investments, primarily from the electronics giants like Samsung and LG. Samsung has been investing an average of USD 5 billion per year for the development of OLED technology.
- China is the global hub for manufacturing. The country is the largest exporter of consumer goods and is the fastest-growing consumer market in the world. China boasts of the world’s largest television market. LG is planning to collaborate with the retailers and TV makers in China to expand its OLED panel business, the sales of OLED display panels is expected to grow exponentially in this region.
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The OLED panel market is highly competitive and is mildly concentrated because of the presence of many players conducting business on a national as well as on an international scale. The major players in the market are Samsung Electronics, LG Display co., Panasonic Corp., among others.
- December 2018 - Universal Display Corporation announced the signing of long-term OLED Agreements with BOE Technology Group Co. Ltd. Under the agreements, UDC is to supply phosphorescent OLED materials to BOE Technology.
- May 2018 - Samsung displayed technological advancements at the SID DisplayWeek, by showcasing its rollable and flexible OLED display. This is expected to help the company to garner a higher market share.
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