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The LED and OLED display market is witnessing several prominent trends that are shaping the industry's trajectory. One significant trend is the increasing prevalence of high-resolution displays across various electronic devices. End-users became more demanding with respect to their devices as they came to expect better displays with sharper and more vivid visuals. Hence, display manufacturers had no other choice but to propose LED and OLED technologies with higher pixel density to the consumers across smartphones, TVs, laptops, and monitors. Hence, this fact clearly demostrates the constant desire to obtain the better picture qualities as well as encourage the evolution of technology in displays to respond to the increasing consumers expectation.
One of the trends in the market is the emergence and increasing popularitye of flexible and foldable screens, especially in the case with OLED technology. The displays provide the smartphone and other portable electronics with freedom of innovation in form factors and functionality, thus the users are able to get new form factors and functionalities. OLED displays’ ability to bend and fold offers new design features that product manufacturers can take advantage of too.
The other important trend is energy efficiency in the LED and OLED displays energy market. LED displays consisting of this type of displays are famous for their power-saving properties compared to ordinary display technologies. With the environment gaining awareness among consumers and manufacturers, energy-efficient displays are considered equally by consumers and manufacturers due to power saving. The growing demand in this direction is in line with increasing sustainability expectations and laws, opening access of the market for more green display options.
LED and OLED market displays huge demand for bigger screen sizes on TVs and monitors as it is a trending phenomenon. Purchasers prefer larger screens to watch movies at home and create a certain immersion. Both the LED and OLED technologies are following the trend of size and incorporating them to the displays. Manufacturers keep on challenging the limitations of sizes by making bigger displays. Along with the increasing popularity of ultrahigh definition content, the trend toward larger screens are also being caused by the fact that the bigger screen is needed to enjoy the images in full details.
Growth is projected in the LED and OLED display market that should open good opportunities for companies to flourish. Unlikness LCDs, OLEDs are flexible, transparent, and have the source of light that spans over surfaces. Big companies and new businesses are making LED and OLED products, and this is likely to bring them great opportunities for growth. Also, even though LED lighting products are becoming more popular, they are still not as widely used as traditional fuel-based lighting systems. This gives a big chance for companies making LED lighting products to do well.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Increase in government initiatives towards OLED adoption |
| Market Dynamics | Rapid advances in OLED technology, the expansion in cell phones and LED TVs, an increment in the populace, and an ascent in shoppers' discretionary cashflow |
LED OLED Display Market Highlights:
Global LED and OLED Display Market Overview:
LED and OLED Display Market Size was valued at USD 22.9 Billion in 2023. The LED and OLED Display market End User is projected to grow from USD 28.396 Billion in 2024 to USD 128.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 20.73% during the forecast period (2024 - 2032). OLED technology is developing quickly, and there have been increases in cell phones and LED TVs as well as population growth and discretionary spending by consumers, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
LED and OLED Display Market Trends
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Rapid advances in OLED technology is driving the market growth
OLEDs have attracted a lot of attention from the scientific and business communities throughout the years. A vast variety of OLEDs have reached the market, focusing largely on passive and active matrix solutions and finding applications in many different industries. The development of white OLEDs with a long shelf life of more than 15,000 hours at a brightness level of 1,000 cd/m2 is the main area of research in the OLED market. Additionally, bendable, lightweight, indestructible electronics are now possible thanks to the development of flexible OLEDs with improved portability. OLED displays, which use organic materials to emit light, do not need the backlighting or filtering devices typically seen in LCD displays. OLEDs are anticipated to take the place of LCDs in the majority of applications over the course of the next ten years, including small displays for smartwatches and large displays for televisions. Compared to LCDs, OLED displays offer a simpler recycling process and are sunlight-readable. OLED displays feature excellent contrast because each pixel on the screen produces its own light, rather than using a backlight. When contrast is needed, the display simply dims or shuts off the necessary pixels for a real, deep black colour while using less electricity. OLED displays are widely used in a variety of applications because of its high brightness, low power consumption, and higher contrast ratio.
Lighting accounts for roughly 15% of all energy usage worldwide. Additionally, lighting is responsible for about 5% of global carbon emissions. The United Nations Environment Programme (UNEP) has provided some guidance on energy-efficient lighting options in order to reduce carbon emissions. The demand for OLED-based lighting is expected to rise dramatically over the next two decades as a result of the rapid urbanisation and economic growth taking place in Europe and the Middle East. Thus, it is projected that the global OLED lighting market would expand in the approaching years as a result of the requirement for more LED-based lighting to achieve effective cost and energy savings.
OLED products are utilised in numerous end-use settings. The sector is growing as a result of rising smartphone usage and skyrocketing consumer demand for improved handsets. Due to their excellent activation speed, active-matrix OLED (AMOLED) panels are being used on more smartphones and tablets. Furthermore, they consume significantly less power than LCD, which is another reason they are advised for broad use in smartphones. The industry's growth is also being aided by the rising popularity of various wearable technology devices like smartwatches and fitness bands. The market is expanding due to rising demand for automated and bright-screen displays. Thus, driving the LED and OLED Display market revenue.
LED and OLED Display Market Segment Insights:
LED and OLED Display Type Insights
The LED and OLED Display Market segmentation, based on Type, includes Passive Matrix OLED (PMOLED), Active Matrix OLED (AMOLED), Organic LED (OLED), Inorganic OLED, and High Brightness LED. Active matrix OLED (AMOLED) segment dominated the global market in 2022. Since the OLED screen is emissive and doesn't require any additional lighting, it outperforms the flat panel displays that are typically used in smartphones. Due to improved qualities including thinness and brightness, mobile manufacturers are implementing AMOLED panels into their products more frequently, which is expected to hasten market growth.
LED and OLED Display: Display Type Insights
The LED and OLED Display Market segmentation, based on display type, includes flexible display, flat panel display, and transparent panel display. Flat panel display segment dominated the LED and OLED Display Market in 2022. Governments from all over the world are investing in OLED lighting research, there is a huge demand for better viewing experiences, particularly among smartphone and television users, and the market for AMOLED displays for use in AR/VR headset applications is booming.
LED and OLED Display Size Insights
The LED and OLED Display Market segmentation, based on display size, includes upto 20", 20"-50", and 50" and above. 20”-50” segment dominated the LED and OLED Display Market in 2022. This is explained by the increased disposable income in emerging and developing nations.
Figure 1: LED and OLED Display Market, by Display Size, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
LED and OLED Display End User Insights
The LED and OLED Display Market segmentation, based on end user, includes commercial, automotive, consumer electronics, healthcare, enterprise, education, media & entertainment, industrial, and others. Consumer electronics segment dominated the global market in 2022. The rising global demand for consumer gadgets can be held responsible for this.
LED and OLED Display Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America LED and OLED Display Market dominated this market in 2022 (45.80%). This is a result of the market's rising demand for TV display panels, as well as the use of OLED displays in smartphones, digital signs, and the automotive industry. Further, the U.S. LED and OLED Display market held the largest market share, and the Canada LED and OLED Display market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: LED and OLED Display Market SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe LED and OLED Display market accounted for the healthy market share in 2022. The majority of luxury automobile manufacturers install high-quality OLED displays in HUDs, instrument clusters, and central stack displays because the region is known for producing some of the industry's top luxury vehicles. Further, the German LED and OLED Display market held the largest market share, and the U.K LED and OLED Display market was the fastest growing market in the European region.
The Asia Pacific LED and OLED Display market is expected to register significant growth from 2023 to 2032. This can be attributable to the fact that several important vendors, like LG and Samsung, have manufacturing operations in the area. The region is also home to companies that manufacture TVs, TV sets, and other products. Samsung Electronics, a major OLED display manufacturer, has its headquarters in South Korea. Moreover, China’s LED and OLED Display market held the largest market share, and the Indian LED and OLED Display market was the fastest growing market in the Asia-Pacific region.
LED and OLED Display Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the LED and OLED Display market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, LED and OLED Display Industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global LED and OLED Display Industry to benefit clients and increase the market sector. In recent years, the LED and OLED Display Industry has offered some of the most significant advantages to medicine. Major players in the LED and OLED Display market, including Samsung Display Co. Ltd, LG Display Co. Ltd, Sony Corporation, Raystar Optronics Inc., Pioneer Corporation Nokia, Panasonic Corporation, Mouser Electronics, 4D Systems, Raystar, and Digilent, are attempting to increase market demand by investing in research and development operations.
Formerly known as CenturyLink Inc., Lumen Technologies Inc. (Lumen Technologies) is a provider of managed services, cloud computing, network services, and communications. Local and long-distance, broadband, private line, managed hosting, data integration, ethernet, network access, video, wireless, voice, and other services are provided by the company. Additionally, it offers expert services and other support services. Federal, state, local, and business clients are all served. Through inbound call centres, direct sales reps, telemarketing, and third parties, such as merchants, door-to-door salespeople, satellite television providers, and digital marketing companies, the corporation offers its products. Africa, the Middle East, Asia-Pacific, and North America are all regions in which the organisation conducts business. Monroe, Louisiana, in the US, is home to Lumen Technologies' main office. OLEDWorks and Lumenique LLC formed a partnership in November 2020. Lumenique, a manufacturer of illuminated art, rises to the top in the development of OLED lighting as a result of this relationship. The company will offer amazing portable illumination thanks to the newest OLED lighting panels.
Consumer electronics, information technology, mobile communications, and device solutions are all produced by Samsung Electronics Co. Ltd. (Samsung), a division of the Samsung Group. Televisions (TV), refrigerators, washing machines, air conditioners, medical equipment, printers, monitors, computers, network systems, and digital cameras are among the company's product offerings. In August 2019, Samsung Electronics announced that it had scaled back LCD production in preparation for a significant investment in quantum dot OLED panels, also known as (QD) OLED displays, which combine OLED and quantum dot technology.
Key Companies in the LED and OLED Display market include
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LG Display Co. Ltd
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Sony Corporation.
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Raystar Optronics Inc.
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Pioneer Corporation Nokia
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Panasonic Corporation
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Mouser Electronics
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4D Systems
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Raystar
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Digilent
LED and OLED Display Industry Developments
January 2024: In preparation for the Consumer Electronics Show (CES) 2024, Samsung Electronics has just released its most recent QLED, MICRO LED, OLED, and Lifestyle display lineups. The launch of a next-generation artificial intelligence processor that is ready to revolutionize the notion of smart display capabilities was another function of the announcement, which helped to start off the age of artificial intelligence screens. In addition to bringing about improvements in image and sound quality, the new lines offer customers features that are driven by artificial intelligence and are protected by Samsung Knox. These features are centered on motivating and enabling individuals to live their own lives.
It is no longer sufficient to just provide high-quality visual experiences now that we are living in an age that is characterized by hyperconnectivity. The President and Head of Visual Display Business of Samsung Electronics, SW Yong, said that displays should improve our lives in both ways, both on and off the screen where they are shown. "Samsung's artificial intelligence displays, which are driven by on-device artificial intelligence technology, are intended to serve as the focal point of customers' homes. They link all associated gadgets in order to provide consumers with a lifestyle that is more adaptable and varied.
The newest Neo QLED 8K and 4K televisions from Samsung provide the whole package, which includes image quality that is as realistic as possible, superior audio technology, and a wide variety of applications and services. The 2024 Neo QLED 8K is equipped with Samsung's most cutting-edge and cutting-edge TV processor to date, which is the NQ8 AI Gen3 processor. This processor has a neural processing unit (NPU) that is twice as fast as the one that was used in the previous model. Additionally, the number of neural networks has expanded by a factor of eight, going from 64 to 512, which enables everything on the screen to be portrayed in clear and precise detail. The 2024 series is loaded with performance enhancements that have never been seen before that are made possible by this cutting-edge technology.
August 2019: 17.3-inch OLED display with 120 Hz refresh rate, 12.1-inch full colour TFT powered Micro LED car display, 5.6-inch AMOLED display, and optical in cell fingerprint LTPS LCD were all introduced by AU Optronics.
LED and OLED Display Market Segmentation:
LED and OLED Display Type Outlook
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Passive Matrix OLED (PMOLED)
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Active Matrix OLED (AMOLED)
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Organic LED (OLED)
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Inorganic OLED
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High Brightness LED
LED and OLED Display: Display Type Outlook
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Flexible Display
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Flat Panel Display
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Transparent Panel Display
LED and OLED Display: Display Size Outlook
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Upto 20"
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20"-50"
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50" and Above
LED and OLED Display End User Outlook
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Commercial
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Automotive
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Consumer Electronics
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Healthcare
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Enterprise
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Education
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Media & Entertainment
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Industrial
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Others
LED and OLED Display Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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