Portland, OR -- (SBWire) -- 10/27/2017 --Organic LED Market is expected to garner $37.2 billion by 2020, registering a CAGR of 18.3% during the forecast period 2015 - 2020. OLED, also known as organic light emitting diode is a flat light emitting technology developed by placing thin organic films between two conductors. 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. 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. OLEDs are more expensive as compared to LED and LCD products. However, the price of these products would decrease gradually once the products get more acceptance in the market.
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Display is one of the major application areas of OLED technology and accounted for approximately 96.9% market share of the total OLED market in terms of revenue in 2014. OLED films are quite durable and capable of operating at higher temperature as compared to LED. OLED offers light emitting surfaces, which are lightweight and thin. OLED displays do not require shutter arrays and backlight, thus enabling the manufacturers to easily replace the heavy and breakable glass used in LED displays with a stronger and lighter plastic substrate. High cost is one of the major restraints for the OLED market. However, it is expected that with the technological advancements and increasing focus of organizations on research activities, price of OLED panels would considerably reduce in future.
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AMOLED and PMOLED are the two major OLED display technologies available in the market. Though PMOLEDs are cost effective and easy to build, they are restricted in size and resolution, which limits their adoption. On the other hand, AMOLED are expensive and material intensive, but they do not have any restriction on resolution or size. It is estimated that AMOLED technology would lead the OLED market during the forecast period to reach $32.0 billion by 2020.
The report also provides insight into the competitive scenario of the globalOrganic LED market and a comprehensive study of the key strategies adopted by key market players operating in the OLED market. Prominent players operating in the OLED market have adopted product launch as their key growth strategy. Some of the major companies profiled in the report include LG Electronics Inc., Koninklijke Philips N.V., OSRAM GmbH, Samsung Electronics Co., Ltd., Novaled GmbH and Universal Display Corporation among others. (oled manufacturers)
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Organic LED Market Share, Industry Size, Manufacturers, Global Forecast 2017 - 2020
Global Organic LED market is expected to grow rapidly owing to increased adoption of OLED technology into smartphones, television and lighting applications.