The global market for organic light emitting diodes (OLED) is expected to reach nearly $9.6 billion in 2020
Wellesley, Mass. (PRWEB) September 08, 2015
As a key technology of the future used especially in display and lighting applications, organic light emitting diodes (OLEDs) are expected to form a mainstream global market within the next five years. BCC Research reveals in its new report that the highly technology-dependent OLED market is currently focused on research activities to commercialize OLED products.
The global OLEDs market, which totaled $2.5 billion in 2014, should achieve a compound annual growth rate (CAGR) of 25.7% during the forecast period 2015-2020, leading to a market value of $9.6 billion in the end year. Asia-Pacific, the largest market, should achieve a five-year CAGR of 24.1% while Europe, the second-largest market, should lead all markets with a 29.8% CAGR. North America is anticipated to achieve a 26.8% CAGR during the forecast period.
An OLED is a display device that compresses a series of organic films between a cathode and an anode. An OLED works on the principle of electro-phosphorescence; application of voltage to the OLED cell generates a bright luminance when electricity passes through OLED materials that are compressed within the glass substrates. OLED is inherently an emissive technology and does not require large and expensive backlighting units necessary in liquid crystal displays (LCD).
The increasing usage of smartphones and its huge acceptance level is the major factor supporting the growth of OLEDs displays across the different regional market globally.
“Recent developments in the field of organic materials have increased use of OLEDs in end-user applications such as mobile phones and digital camera displays due to increased life span and improved contrast rates,” says BCC Research analyst Abhigyan Gupta. “The mass production of active-matrix organic light emitting diodes (AMOLEDs) has allowed use of OLEDs in televisions, as well. This niche market is expected to develop further with R&D in the area of application-specific OLEDs.”
Organic Light Emitting Diodes (OLEDs): Technologies and Global Markets (SMC069D) presents an overview of the global markets and technologies for OLEDs, with analysis of economic, political and legal/regulatory environment issues within the industry. The report also includes forecasted trends and revenue through 2019.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern time), or email information(at)bccresearch(dot)com.