The global OLED market was valued at USD 16.58 billion in 2016 and is expected to reach USD 48.81 billion by 2023, at a CAGR of 15.2% between 2017 and 2023. The key factors driving the growth of the market are rapid adoption of OLED displays in smartphones and growing investments in technology and manufacturing facilities.
Displays accounted for more than 99% of the total market in 2016. The trend is expected to continue between 2017 and 2023. The lighting market is at the early growth phase and is expected to grow at a high rate during the forecast period.
The display market for vehicles, televisions, and signage/large format displays is expected to grow at a high rate during the forecast period. An AMOLED display is used in Audi’s R18 as a digital rare-view mirror. BMW A8 includes an OLED display for passengers in the back, which can be used to control the car’s infotainment systems. In January 2015, Continental AG unveiled flexible AMOLED displays for the automotive segment.
Download PDF Brochure :
LG Display is developing a full HD, 12.3-inch curved plastic-based flexible OLEDs for automotive applications. The company has collaborated with Tesla, Cadillac, and Mercedes, and expects to manufacture these display panels and make them commercially available by 2018. LG dominates the display market for television and signage applications. The company has launched various models based on OLED panels. Samsung Display showcased new prototypes for automotive applications at SID 2016.
Flexible display panels held a lower market share compared rigid display panels in 2016; however, the market for flexible display panels is expected to grow at a high rate during the forecast period. With the increasing use of flexible display panels in smartphones and smart wearable devices, and their potential use in other applications such as TVs, signage displays, and vehicles, flexible displays are expected to drive the growth of the overall market during the forecast period.
The lighting market for automotive applications is expected to grow at a high rate between 2017 and 2023. Regular LEDs emit point light sources, which require a lot of development work to be able to produce an even light. OLEDs radiate light sources that provide a uniform illumination and with a thickness of less than a millimeter for automotive applications. This reduces flickering, thereby enhancing passenger safety.
OLED lighting-based automotive applications can grow from control panels to reading lamps, headlamps, taillights, and brake lights. Audi has launched the 2016 TT RS sporting optional OLED taillights, the first commercial car to adopt the OLED lighting technology. Audi has also confirmed that the 2017 A8 will comprise OLED taillights and OLED displays. BMW’s M4 GTS car includes OSRAM-made OLED taillights. In 2017, Yeolight Technology developed a 0.1 mm flexible OLED lighting panel specifically designed for automotive applications. In 2017, Konica Minolta and Pioneer established a new joint venture called Konica Minolta Pioneer OLED, which will combine the display and lighting business and product divisions of both the companies, with major focus on automotive applications.
APAC accounted for 89.6% of the total market in 2016 owing to the high demand for display panels in the countries such as South Korea, China, and Japan. Several major original brand manufacturers are based in the APAC region; owing to this, a high demand for display panels is emerging from this region. The market in North America is expected to witness a significant growth in the coming years owing to the rising demand for OLED display panels from Apple Inc. and the high adoption rate of lighting products in this region.
Outdoor LED Lighting Market by Installation Type (New, Retrofit), End Use Application (Highways & Roadways, Architectural, Public Places), Offering (Hardware, Software & Services), Wattage Type, Region – Global Forecast to 2023