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The OLED market size is projected to grow from $53.52 billion in 2024 to $404.89 billion by 2035, representing a CAGR of 20.197% during the forecast period 2024-2035. The new research study consists of industry trends, detailed OLED market analysis, key OLED market trends, SWOT analysis and value chain analysis.
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An OLED (Organic Light Emitting Diode) display is a flat panel display technology that uses organic materials to emit light. It is made by positioning several organic thin films between two conductors from which light is emitted when an electric current is applied. As these displays do not require back lighting, they are thinner and more efficient in comparison to LCD displays. OLED displays provide a better image quality, durability and have a lower consumption rate compared to LCD.
The use of OLEDs in smartphones is expected to be a key driver in the OLED market growth during the forecast period. Top companies like Samsung, Apple, Xiaomi, Huawei, Sony and many more are using OLEDs in their display screens. Furthermore, the increasing sales of TVs is also playing a vital role in the OLED market growth. Consumers expect high-quality displays that deliver vibrant colors, sharp images, and smooth motion. OLED technology meets these expectations by offering superior picture quality along with an immersive viewing experience. As consumers become more concerned about their display quality, OLED technology is expected to meet and exceed their expectations, which will set the market to a rapid growth in this forecasted period.
The market report presents an in-depth analysis of the various service providers that are involved in OLED market, across different segments, as defined in the table below:
| Key Report Attributes | Details | |
| Historical Trend | 2019-2023 | |
| Base Year | 2023 | |
| Forecast Period | 2024-2035 | |
| Market Size Value in 2024 | $ 53.52 Billion | |
| Market Size Value by 2035 | $ 404.89 Billion | |
| Growth Rate | CAGR of 20.197% from 2024 to 2035 | |
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| PowerPoint Presentation (Complimentary) |
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| Customization Scope | 15% Free Customization | |
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The global OLED market is segmented into two types of products such as OLED display, OLED lighting. According to our analysis, the OLED display segment will dominate with the largest market share during this forecast period. This can be attributed to the OLED display market’s superior display quality, including deep blacks, vibrant colors, and high contrast ratios, making it highly desirable for consumer electronics. Continuous advancements in OLED technology and increasing consumer preference for premium displays are solidifying OLED’s dominance in the market. For instance, Samsung Electronics launched the Odyssey OLED G9 Gaming Monitors, featuring a 49-inch dual QHD OLED with a 0.03ms response time, 32:9 ratio and 240Hz refresh rate.
The global OLED market is split into different types of technology such as AMOLED, foldable OLED, high brightness LED, OLED, PMOLED, transparent OLED, and white OLED. Among the categories, the AMOLED segment is expected to gain the maximum market share as well as the fastest CAGR. This can be attributed to the superior image quality with vibrant colors and high contrast ratios, provided by the AMOLED displays. These qualities make them highly popular in consumer electronics including smartphones, tablets, and televisions. Moreover, AMOLED technology also provides flexible OLED and curved displays, enabling designs that are sleek and captivating to consumers.
The global OLED market is fragmented into multiple OLED panel types such as flexible, rigid, transparent and others. The rigid segment is anticipated to dominate with the highest market share over this forecast period. This can be attributed to its well-established usage in a wide range of consumer electronics, such as smartphones, laptops, televisions, and tablets. Rigid OLED displays are widely popular for their superior image quality, including vibrant colors and high contrast ratios. Additionally, the manufacturing process of rigid OLED displays is more mature and cost-effective compared to flexible, which is leading to lower production costs and higher returns. On the other hand, it is worth highlighting that the flexible OLED display segment is expected to witness the highest CAGR until 2035. This can be attributed to its innovative design capabilities, allowing the creation of bendable, foldable and rollable displays.
The global OLED market is fragmented into multiple types of panel sizes such as up to 7 inches, 7 to 20 inches, 20 to 51 inches, more than 51 inches. The up to 7 inches segment is anticipated to dominate with the highest market share over this forecast period. This can be attributed to the widespread adoption of OLED displays in smartphones, which are predominantly below 7 inches in size. Additionally, mass production of below 7 inches OLED panels has reduced costs, making them more affordable and accessible. However, the 7 to 20 inches segment is expected to witness the highest CAGR until 2035. Significant factors contributing to this growth are the diverse OLED market applications of these displays in devices such as laptops, monitors, tablets and automotive displays.
The global OLED market is fragmented into multiple areas of application such as up to digital signage systems, laptop, PC monitors, smartphone & tablet, smartwatches & wearables, television and others.The smartphone & tablet OLED applications segment is anticipated to dominate with the highest market share over this forecast period. This can be attributed to the high demand for superior display quality in portable devices. In addition, the flexibility and thinness of OLED panels enable innovative design possibilities, such as foldable and curved screens, further enhancing their appeal. The rapid technological advancements and frequent product launches in the smartphone and tablet market have sustained the growth of OLED adoption.
The global OLED market is fragmented into multiple various types of end-users such as up to automotive, commercial, consumer electronics, education, enterprise, healthcare, industrial, media & entertainment and others. The consumer electronics segment is anticipated to dominate with the highest market share over this forecast period. This can be attributed to the rising global demand for consumer gadgets like smartphones, tablets, televisions and monitors.
The global OLED market is fragmented into multiple types of distribution channels such as direct sales, distribution and online retailers. The direct sales segment is anticipated to dominate with the highest market share over this forecast period. This can be attributed to its effectiveness in establishing strong relationships between manufacturers and end-users, particularly in industries with high volume requirements. However, it is worth highlighting that the online retailers’ segment is expected to witness the fastest CAGR in the forecasted period. This demand is being fueled by the increasing trend of e-commerce.
The global OLED market is fragmented into multiple types of enterprise namely large and small and medium enterprise. The large enterprise segment is anticipated to dominate the segment with the highest market share over this forecast period. However, small and medium enterprise segment is expected to witness the fastest growth rate until 2035. This is ascribable to their agility, innovation, focus on niche markets, and ability to adapt to changing customer preferences and market conditions.
This segment highlights the distribution of the OLED market across various geographical regions such as North America, Europe, Asia, Latin America, Middle East, North Africa, and the rest of the world. According to our analysis, North America exhibits dominance in the market with the majority of the OLED market share in the global marketplace. Further, it is also projected to drive the market at a higher CAGR during this forecast period due to increasing adoption of OLED displays in smartphones, tablets, and televisions. Furthermore, the growing demand for OLED displays in digital signage and lighting in commercial and residential sectors is driving market expansion.
The “OLED Market Till 2035; Distribution by Type of Product (OLED Display, OLED Lighting), By Type of Technology (AMOLED, Foldable OLED, High Brightness LED, OLED, PMOLED, Transparent OLED and White OLED), by Type of Panel (Flexible, Rigid, Transparent, and Others), by Type of Panel Size (Up to 7 inches, 7 to 20 inches, 20 to 51 inches, More than 51 inches), By Areas of Application (Digital Signage Systems, Laptop, PC Monitors, Smartphone & Tablet, Smartwatches & Wearables, Television, and Others), by Type of End Users (Automotive, Commercial, Consumer Electronics, Education, Enterprise, Healthcare, Industrial, Media & Entertainment and Others), by Type of Distribution Channels (Direct Sales, Distribution and Online Retailers), by Company Size (Large Enterprises, Small and Medium Enterprises (SMEs)), and Key Geographical Regions (North America, Europe, Asia, Latin America, and Middle East and North Africa and Rest of the World): Industry Trends and Global Forecasts.” report features an extensive study of the current market landscape, market size, recent trends and OLED market forecast. The market report highlights the efforts of several stakeholders involved in this rapidly emerging segment of the service providers industry. Key takeaways of the OLED market report are briefly discussed below.
The market expansion is driven by some prominent OLED market drivers including the growing demand for high resolution displays, advancements in flexible OLED & foldable OLED screen technology, adoption of smart devices, and the need for energy efficient & environmentally friendly display options. Furthermore, continuous innovation in OLED manufacturing processes and materials is accelerating the market growth further. In addition to this, rapid adoption of OLED displays in smartphones has been a key OLED market growth driver.
With the presence of several small and large OLED market companies, the market is experiencing intense competition and changing market dynamics. From large multinational companies to local players, companies are striving to enhance their competitive edge. In terms of market share, large enterprises and multinational companies are dominating the market. The OLED market key players are using strategies such as partnerships, acquisitions, ventures, innovations, R&D and geographical expansions in an attempt to solidify their position in the industry. For instance, in 2020, LG announced the launch of a new vivid transparent OLED display for digital signage solutions.
Despite the exceptional growth, the OLED market is facing a few challenges. The most prominent one includes alternate technologies like micro-LED and direct-view LED. Micro LEDs are light emitting diodes in the size of micrometers, which can be used in self-emitting display manufacturing. These LEDs are much brighter and more power efficient than OLED and can be used in both display and lighting applications.
North America currently holds a substantial share in the OLED market industry opportunity. This dominance can be attributed to the rapid adoption of OLED technology in automotive displays and lighting along with smartphones and consumer electronics.
Examples of key service providers involved in the OLED market (which have also been captured in this market report, arranged in alphabetical order) include Acuity Brands, AU Optronics, BOE Display, eMagin, Futaba, JOLED, Konica Minolta, LG Display, LG Electronics, Mouser, Panasonic, Pioneer, Raystar, RiTdisplay, Samsung, Sharp, Sony, Tianma Microelectronics, Truly International, Universal Display, Visionox, Winstar Display, Wisechip Semiconductor. This market report includes an easily searchable Excel database of all the companies who offer OLED market products
The market report presents an in-depth OLED market analysis, highlighting the capabilities of various companies engaged in this domain, across different segments. Amongst other elements, the market report includes:
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