OLED Market Worth US$3051.2 Million by 2015 – New Report by MarketsandMarkets
(PRWEB) March 17, 2014 -- According to a new market research report, “OLED Market Analysis by Display and Lighting Applications (2010–2015)”, the global OLED market is expected to be worth US $3051.2 million by 2015. The global market is expected to record a CAGR of 27.8% from 2010 to 2015.
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Organic light emitting diodes (OLEDs) are self-illuminating flat panel displays where organic materials are stacked between conductors. OLEDs emit bright light on the application of electric current; and thus do not require a backlight. This means that OLEDs can be made thinner and more power-efficient than LCDs (liquid crystal displays).
The higher efficiency is attributed to low power consumption; which also helps in minimizing the heat generated. The emissive nature of OLED displays facilitates better contrast, clarity, and images with superior quality of the picture motion. The two most significant OLED applications are their use as displays and sub-displays and lighting, which form the foundation for a wide spectrum of applications in industries including energy, consumer electronics, information technology, and industrial automation. Lighting is an application segment with a high growth potential. The market is expected to reach $3051.2 million in 2015, at a CAGR of 27.8% from 2010 to 2015.
The highly technology-dependent OLED market is still in the early development stage, and is currently focused on research activities to commercialize OLED products. Collaborations and joint ventures form the most popular growth strategy, together accounting for 61.2% of all the strategic developments in the OLED market. Acquisitions have also played a significant role in the OLED market’s competitive landscape.
The report segments the overall OLED market into products, applications, and technologies. The product market is categorized into the submarkets of PMOLEDs (Passive Matrix OLEDs) and AMOLEDs (Active matrix OLEDs). The PMOLED market dominates due to early commercialization of products, and widespread applications in MP3 players and sub displays. However, over the forecast period, AMOLEDs are expected to generate higher market penetration in terms of unit shipment and revenues.
OLED materials and panels are manufactured mainly in the Asia Pacific region. OLED manufacturing is currently concentrated in Southeast Asia due to the availability of lower cost labor, raw materials, and manufacturing technologies in the region.
Each sub-segment of the global OLED market is calculated for the four geographical regions of North America, Europe, Asia-Pacific, and ROW. Asia Pacific holds a 90.1% share of the global OLED manufacturing market, followed by Europe with 6.2%. North America and Latin America (NA-LA) hold a 3.8% share. Asia Pacific also has the largest end-user market, accounting for the consumption of 65.2% of OLEDs on the whole, followed by Europe at 21.5% and North America with 13.3%. Interest from major industry players and various government bodies is also driving development of the European OLED market.
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