OLED Market Size, Share, Growth, Forecast 2032

The global OLED market size was worth around USD 43.48 billion in 2023 and is predicted to grow to around USD 199.1 billion by 2032 with a compound annual growth rate (CAGR) of roughly 18.42% between 2024 and 2032

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The report analyzes the global OLED market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the OLED industry.   

Global OLED Market Overview

The Global OLED technology is made by positioning a number of organic thin films between two conductors. Light is emitted when an electric current is applied to these conductors. These displays do not require backlighting and thus are thinner and efficient as compared to LCD displays. OLED displays provide a better image quality, durability, and have a lower consumption rate as compared to LCD displays.

Usage of OLEDs in smartphones is expected to drive the global OLED market during the forecast period. Top smartphones manufacturers such as Samsung, Apple, Xiaomi, Huawei, Sony and many more use OLEDs in their display screen. The global smartphones sales in the first quarter of 2017 had increased by almost 9% as compared to the same period for 2016. Samsung, Apple, and Huawei had a share of 20.7%, 13.7%, and 9% respectively during this period. Further, it is projected that the overall smartphones shipments in 2022 will reach 1.64 billion units. Thus, it is expected that smartphones will fuel the growth of the OLED market during the estimated period.

The increasing sales of TVs play a vital role in the rise of the OLED market. In the first quarter of 2017, global OLED TVs that were priced for more than USD 1,000 had a share of almost 14% as compared to 2.4% in 2015 during the same period. Further, it is estimated that the global OLED TV shipments will increase from 723,000 units in 2016 to 6.6 million units in 2021. Thus, the global OLED market is anticipated to grow at a rapid pace during the forecast timeframe. However, the burn in issue that occurs on OLED displays will have an adverse effect on the OLED market growth during the analysis period.

Growth Factors

During the projected period, the worldwide OLED displays market is anticipated to develop due to the lucrative benefits supplied by OLED technology. OLED technology has several benefits, including improved contrast ratios, quicker refresh rates, and crisper, more vibrant colours. OLED displays are smaller, thinner, and provide superior energy management since they use less electricity overall. Additionally, OLED panels' improved view angle benefits customers in other ways.

Over the projected period, expanding OLED display applications are anticipated to fuel market expansion for OLED displays worldwide. OLED-based technology has begun to be used in a number of industries throughout the world. Media players, digital cameras, mobile phones, televisions, wearable electronics, etc. all use OLED technology. A number of well-known market companies, including Sony, Samsung, and LG, have introduced a variety of items featuring OLED displays in an effort to diversify their product lines and achieve a competitive advantage.

Global OLED Market: Segmentation

The OLED market by segmenting the market based on technology, display panel, application, panel size, end-use industry, and region. 

Based on technology, the global OLED market is bifurcated into AMOLED, and PMOLED.

Display Panel Segment includes Rigid and Flexible.

By Application Segment includes Smartphones & Tablets, TVs, Laptops & Monitors, Wearables, Lighting and Other.

By Panel Size Segment includes Up to 7 inches, 7 to 20 inches, 20 to 51 inches, More than 51 inches

By End-Use Industry Segment includes Consumer Electronics, Automotive, Sports & Entertainment and Others.

The Regional segment includes the present and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

AMOLED segment is projected to hold a considerable market share during the analysis period due to its rising use in consumer electronics. Rigid and flexible is the display panel segment for OLED. The flexible segment is estimated to grow at a significant rate over the forecast period 2024-2032 owing to the introduction of flexible devices.

OLED Market: Report Scope

OLED Market: Regional Analysis

Asia Pacific holds a considerable share in the global OLED market during the projected timeframe. This share is attributed to the presence of major market players in this region such as Samsung Electronics Co. Ltd., LG Electronics Inc., Panasonic Corporation, and many more.

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Technological advancements in consumer electronics in Asia Pacific region is an important factor for the growth of the OLED market. Thus, the Asia Pacific region is estimated to have a substantial share during the forecast period.

OLED Market: Competitive Analysis

Noticeable players included in the report are

• LG Electronics Inc
• OSRAM GmbH
• Samsung Electronics Co. Ltd
• Panasonic Corporation
• Universal Display Corporation
• AU Optronics
• BOE Technology
• Konica Minolta
• Pioneer OLED
• Acuity Brands 

The report segment of the global OLED market as follows:

Global OLED Market: Technology Segment Analysis

• AMOLED
• PMOLED

Global OLED Market: Display Panel Segment Analysis

• Rigid
• Flexible

Global OLED Market: Application Segment Analysis

• Smartphones & Tablets
• TVs
• Laptops & Monitors
• Wearables
• Lighting
• Others

Global OLED Market: Panel Size Segment Analysis

• Up to 7 inches
• 7 to 20 inches
• 20 to 51 inches
• More than 51 inches

Global OLED Market: End-Use Industry Segment Analysis

• Consumer Electronics
• Automotive
• Sports & Entertainment
• Others

Global OLED Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa