The report defines global Organic Light Emitting Diode (OLED) Market as the technology used to create digital displays in devices such as TV screens, computer monitors, smartphones, cameras lighting and wearable devices. This is one of the major display technology nowadays. OLEDs are able to make flexible and rollable displays so they are vastly used in flexible devices such as flexible smartwatches and others. They are able to provide more efficient and thinner displays as compare to LCD or other display technologies. This technology also offers infinite contrast, brilliant colours, fast response rate and wide viewing angles. According to the report the global OLED market is projected to grow at a CAGR of 16.1% over the forecast period of 2018-2024.
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The rapidly growing use of Organic Light emitting diode (OLED) in the smartphones and TVs are driving the growth of OLEDs market. The OLEDs are vastly being accepted in the manufacturing of TV displays. They provide better durability with the best quality image. The use of OLED also facilitates in low power consumption and the displays can be made more transparent and flexible. In addition, advancements in the display technology and the growing demand for OLED displays in wearable are escalating the growth of Organic Light emitting diode (OLED) market all over the world. In addition, declining prices of OLED and the rise in demand with the affordability of consumer electronic goods are projected to create several growth opportunities in this market.
What are the Fastest Growing Segments in the OLED Industry?
The several types of OLED displays and lighting systems are used in the vehicles including Dashboard displays, Heads up displays, internal lighting, Digital rear-view internal mirrors and others. The rising adoption of smartphone mirroring technology and Government concerns to improve the vehicle safety standards are anticipated to escalate the growth OLEDs industry.
Which Region is a Market Leader in the Global OLED Market and what are the Key Reasons?
Among the geographies, Asia Pacific accounted for the highest market share in 2017 and is expected to remain dominant throughout the forecast period. The innovations and advancements in the consumer electronics sector across this region drive the growth of Asia Pacific OLED market. In addition, increasing demand for consumer good products such as T.V, smartphones and wearable products and the rise in spending power capacity among the population contributes to the growth of this market.
Which Companies are the Key Players in the OLED Industry?
The report provides profiles of the companies in the global OLED market such as OLED works, Samsung Electronics, Tianma Microelectronics, Acuity Brands, LG Display, Konica Minolta Pioneer OLED, Osram, AU Optronics and Universal Display Corporation.
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