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The dynamics of the market for Passive Matrix Organic Light-Emitting Diode (PMOLED) displays show how a number of variables interact dynamically to influence the development and expansion of this technology. The market dynamics of PMOLED technology, which is distinguished by its thin, flexible, and power-efficient displays, have been greatly influenced by its wide range of applications across several sectors.
An important factor driving the PMOLED industry is the growing need in consumer electronics for bright, high-contrast screens. PMOLED displays' vividness and energy efficiency improve the user experience of smartphones, wearables, and other portable devices. The market for PMOLED technology is expected to continue to be strong as long as consumers' choices continue to lean toward slim and aesthetically pleasing products.
Furthermore, it has become clear that the PMOLED market dynamics are significantly influenced by the automobile sector. PMOLED displays are becoming more and more common in car interiors because to its ability to provide crisp, clear images and their adaptability to curved surfaces. Modern automobiles often include PMOLED technology into their infotainment systems, instrument clusters, and head-up displays, which has helped to steadily increase the technology's market share.
Apart from consumer electronics and automotive applications, the PMOLED market dynamics are also significantly influenced by the healthcare industry. PMOLED displays are ideal for wearable medical devices and portable healthcare equipment because to their lightweight and flexible nature. The expanding use of PMOLED technology in the healthcare industry is attributed to the increased focus on remote patient monitoring and the need for small-sized, but informative displays in medical equipment.
But there are other issues with PMOLED technology's market dynamics that need be taken into account. The rivalry from other display technologies, such Liquid Crystal Displays (LCD) and Active Matrix OLED (AMOLED), is one important cause. Even though PMOLED displays have special benefits, such as reduced production costs and an easy-to-understand design, competing technologies could perform better in certain areas and affect industry-wide buying choices.
In addition, the PMOLED market dynamics have been affected by the recent interruptions in the worldwide supply chain. Due to logistical difficulties and the dependence on components and raw materials from different geographical areas, manufacturing schedules and, by extension, market dynamics have fluctuated. Building robust supply chains and adjusting to these risks have become crucial factors for PMOLED industry participants.
Innovations in technology have a significant impact on how PMOLED displays behave as the industry develops. The goal of ongoing research and development is to increase PMOLED technology's scalability, longevity, and efficiency. Advancements in materials science and production techniques play a major role in mitigating current constraints and creating new opportunities for PMOLED applications.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, End User, Application, and Region |
PMOLED Market Highlights:
Global PMOLED Market Overview:
PMOLED Market Size was valued at USD 2.51 Billion in 2023. The PMOLED industry is projected to grow from USD 3.008 Billion in 2024 to USD 10.59 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 17.04% during the forecast period (2024 - 2032). Increased advancement in OLED technology and growing investment in the development of PMOLED technology are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
PMOLED Market Trends
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The surge in usage in automotive industry is driving the market growth
PMOLED is widely utilized within the automotive industry for various purposes, including dashboard displays (instrument clusters, navigation, and media), front-of-room displays, internal lighting, external illumination (like tail lights and turn indicators), and internal rear-view mirrors with digital displays. As an example, Daimler, a multinational automotive company based in Germany, has integrated transparent hybrid solar-OLED panels onto the roof of their vehicles. These hexagonal see-through panels generate energy during the day and offer internal lighting at night. This factor drives the market CAGR.
Additionally, the PMOLED market is experiencing growth due to advancements in OLED technology, the introduction of new features, and increased investments in PMOLED-based electronic products. PMOLED is forecasted to continue growing for several reasons, including its simple and cost-effective fabrication, wide temperature range, low power consumption, energy efficiency, affordability, high display quality, and improved viewing experience. Market expansion is mainly propelled by the younger population's inclination towards wearables, as they perceive them as user-friendly and convenient due to their simple design. Additionally, handheld devices that utilize PMOLED displays contribute to the market's expansion. The low power consumption of PMOLED lighting plays a significant role as it accounts for approximately 15% of global power consumption and contributes to around 5% of global carbon emissions. To address this issue, the United Nations Environment Programme (UNEP) has released guidelines for energy-saving lighting solutions to reduce carbon emissions.
Furthermore, the increasing number of smartphone users with advanced display technology and the growing adoption of OLED technology over LCD technology is expected to further accelerate the growth of the PMOLED market in the forecast period. Additionally, the rising demand for environmentally friendly lighting solutions and the adoption of smart lighting systems present market growth opportunities. Thus, driving the PMOLED market revenue.
PMOLED Market Segment Insights:
PMOLED Type Insights
The PMOLED Market segmentation, based on type, includes transparent PMOLED and flexible PMOLED. The flexible PMOLED segment dominated the market; the flexible PMOLED display technology is currently at the forefront due to its numerous advantages. These include a high contrast ratio, faster refresh rates, and wide viewing angles. The popularity of this technology is evident based on its wide adoption among end-users.
Figure1: PMOLED Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
PMOLED End User Insights
Based on End Users, the PMOLED Market segmentation includes displays television, smartphone, tablets & laptop, automotive display, and others. The display television segment is the dominant force in the market, as it presently commands the market due to the growing acceptance of electronic devices like laptops, smartphones, televisions, and MP3 players. It utilizes a straightforward control method to manage each line and row of the display individually. This Type of display is commonly used to showcase small icons found on devices like iPods, mobile phones, MP3 players, and radios.
PMOLED Application Insights
Based on Application, the PMOLED Market segmentation includes residential, commercial, and industrial. The industrial segment dominated the market; the industrial sector holds a considerable portion of the PMOLED market due to its utilization of cutting-edge machinery and wireless control systems.
PMOLED Regional Insights
The study offers market insights into regions such as North America, Europe, Asia-Pacific, and the Rest of the World. The PMOLED market in North America is expected to have a strong presence due to ongoing infrastructure development projects and the adoption of innovative technologies in this Region. For instance, Americans are actively pursuing a physically active lifestyle and becoming more health-prone. An increase has aided the expansion and growth of the industry in the number of health clubs and fitness facilities across the nation.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: GLOBAL PMOLED MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's PMOLED market accounts for the second-largest market share due to the rising adoption of PMOLEDs in the industrial sector and government initiatives regarding the production of lighting control systems. Further, the German PMOLED market held the largest market share, and the UK PMOLED market was the fastest-growing market in the European Region.
The Asia-Pacific PMOLED Market is expected to grow at the fastest CAGR from 2024 to 2032. This is due to the rise in population and increasing adoption of technological innovations in the region. Moreover, China’s PMOLED market held the largest market share, and the Indian PMOLED market was the fastest-growing market in the Asia-Pacific region.
PMOLED Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the PMOLED market grow even more. Market participants also engage in diverse strategic endeavors to broaden their international presence, encompassing significant market advancements such as introducing new products, establishing contractual agreements, merging and acquiring other entities, making higher investments, and fostering collaborations with fellow organizations. To expand and survive in a more competitive and rising market climate, the PMOLED industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global PMOLED industry to benefit clients and increase the market sector. In recent years, the PMOLED industry has offered some of the most significant advantages to medicine. Major players in the PMOLED market include US Micro Products (US), Visionox (China), Sony Corporation (Japan), and Panasonic Corporation. (Japan) Samsung Electronics (South Korea), Apple Inc (US), accelopment AG (Switzerland), RaystarOptronics Inc (Taiwan), Japan Display (Japan), LG Display (South Korea), WiseChipSemiconductro Inc. (Taiwan), Sharp Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.
Sony Group Corporation, commonly known as Sony, is a multinational Japanese conglomerate corporation headquartered in Minato, Tokyo, Japan. Sony Corporation introduced Bravia A9G 4K OLED TV that experiences top-class viewing. It comes with Netflix-calibrated mode, HDR, and Dolby Vision.
Semiconductor Inc. (WSI) was founded in Taiwan in 2005. WSI is a supplier of PMOLED display panels, boasting a decade of production and design expertise in the field of PMOLED. It's a market leader and pioneer in Monochrome OLED, Character OLED, Segment OLED, Area Color, Full Color, Custom design products, etc.WiseChip Semiconductor Inc. announced their production of In-Cell Touch PMOLED displays which are thinner and lighter than Touch PMOLED.
Key Companies in the PMOLED market Include
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US Micro Products (US)
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Visionox (China)
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Sony Corporation (Japan)
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Panasonic Corporation. (Japan)
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Samsung Electronics (South Korea)
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Apple Inc (US)
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accelopment AG (Switzerland)
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RaystarOptronics Inc (Taiwan)
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Japan Display (Japan)
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LG Display (South Korea)
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WiseChipSemiconductro Inc. (Taiwan)
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Sharp Corporation (Japan)
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Brunswick Corporation
PMOLED Industry Developments
January 2024: The Switch 2, the replacement for the Nintendo Switch, is expected to be on sale this year in 2024 and have an 8-inch LCD screen.
According to Omdia analyst Hiroshi Hayase's estimate (via), sales of "amusement" screens are expected to double in 2024 due to a new Nintendo product. The source claims that the aforementioned gadget, which is most likely the Nintendo Switch 2, has an 8-inch display.
The Switch 2, the replacement for the Nintendo Switch, is expected to be on sale this year in 2024 and have an 8-inch LCD screen.
According to Omdia analyst Hiroshi Hayase's estimate (via), sales of "amusement" screens are expected to double in 2024 due to a new Nintendo product. The source claims that the aforementioned gadget, which is most likely the Nintendo Switch 2, has an 8-inch display.
Hayase is a specialist in the small- to medium-sized display sector, which includes digital consumer goods, car monitors, and smartphone displays. His work focuses on technology related to tiny and medium-sized displays, such as electronic paper displays, passive matrix LCD, active matrix LCD, and AM and PM OLED displays. His yearly projections are based on interviews with supply chain partners.
Taiwain's Economic Daily has revealed alleged facts about the Nintendo Switch 2's technical specifications, including information on the device's display. According to market forecasts, the insider said that the console manufacturer plans to release the next Switch this year in 2024. But because of limitations like inflation around the world, the new gadget will cost $400 US dollars at retail—$100 more than the Nintendo Switch.
The market expects Nintendo will release its next system in the second half of this year, the source said, since the Switch hasn't received a significant hardware update since its release. It is said that the hardware will include a battery with a much longer lifespan, an NVIDIA T239 processor, 8GB of RAM, and 64GB of storage.
July 2019: Sony Corporation, one of the leading players in India, unveiled the Bravia A9G 4K OLED TV, providing an exceptional viewing experience. This television features Netflix-calibrated mode, HDR, and Dolby Vision.
October 2019: WiseChip, a prominent player in the industry, introduced its groundbreaking innovation, the Hyperfluorescence OLED display. This display, measuring 2.7" with a monochrome yellow 128x64 PMOLED, is the world's first of its kind. Notably, the brightness of this display is 2.5 times greater than Wisechip's fluorescent yellow PMOLED.
PMOLED Market Segmentation:
PMOLED Type Outlook
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Transparent PMOLED
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Flexible PMOLED
PMOLED End User Outlook
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Display(Television
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Smartphone
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Tablets & Laptop
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Automotive Display
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Others
PMOLED Application Outlook
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Residential
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Commercial
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Industrial
PMOLED Regional Outlook
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North America
- US
- Canada
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Europe
- Germany
- France
- UK
- Italy
- Spain
- 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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