World Organic LED (OLED) market to reach $37.2 billion by 2020
Allied Market Research’s recently released report, "World Organic LED Market - Opportunities and Forecasts, 2014 - 2020," states that the World Organic LED market is estimated to generate a revenue of $37.2 billion by 2020, registering a CAGR of 18.3%, during the forecast period 2015-2020. Enhanced picture quality, high-energy efficiency, increasing demand for eco-friendly products and growing government regulations are expected to supplement the growth of the Organic LED market.
The report states that display accounts for approximately 96.9% market share of the total OLED market’s 2014 revenue. High cost is one of the major restraints for the OLED market. However, with technological advancements and an increasing focus of organizations on research activities, the price of OLED panels is expected to sizably reduce in future.
The report also states that OLED lighting is expected to undergo considerable growth over the forecast period. Based on end users, the report segments the World OLED lighting market into commercial, residential and industrial sector. The commercial segment was the highest revenue generating end user segment, accounting for $245.4 million in 2014. However, the industrial segment would witness the highest CAGR of 53.8% during the forecast period to reach $463.6 million by 2020.
AMOLED and PMOLED are the two major OLED display technologies available in the market. PMOLEDs are cost effective and easy to build; however they have limited adaptation, as they are restricted in size and resolution. AMOLED are expensive and material intensive, however, they do not have resolution or size restriction. It is estimated that AMOLED technology would lead the world OLED market during the forecast period, reaching $32 billion by 2020.
The report also provides insight into the competitive scenario of the world Organic LED market and a comprehensive study of the strategies adopted by key market players operating in the world OLED market. Key strategies include adopting product launch as a main growth strategy. 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, as well as others.