The global organic light-emitting diode (OLED) market is expected to post a CAGR of more than 14% during the period 2019-2023, according to the latest market research report by Technavio. However, the growth momentum will decelerate in the coming years because of the decrease in year-over-year growth.
Digital signage has become increasingly popular in recent years, owing to their advantages such as audience management and targeted content display. These advantages of digital signage make it a better alternative when compared to other advertising media such as posters and banners. Moreover, vendors are adopting interactive touch displays to enhance user experience. OLED displays are lighter, thinner, more flexible, and emit brighter colors than other existing display technologies such as LCDs. Thus, the growing popularity of digital signage applications will fuel the OLED market growth during the forecast period.
As per Technavio, the increasing adoption of OLED displays in the automotive sector will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global organic light-emitting diode (OLED) market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
The automotive industry is exploring the potential applications of OLED displays. OLED displays consume less energy and provide wide viewing angles, thus making them ideal for automotive infotainment applications. Thus, many vendors are showcasing the latest automotive OLED displays, which is expected to increase its popularity in the coming years. Thus, the increasing adoption of in-vehicle infotainment systems and the growing popularity of OLED displays will boost the OLED market size during the forecast period.
“Apart from the increasing adoption of OLED displays in the automotive sector, other factors such as the rise in strategic partnerships, and the emergence of QD-OLEDs will have a significant impact on the growth of the organic light-emitting diode (OLED) market value during the forecast period,” says a senior analyst at Technavio.
This market research report segments the global organic light-emitting diode (OLED) market by type (rigid OLED, and flexible OLED), product (OLED display, and OLED lighting), and geographic regions (APAC, the Americas, and EMEA).
The APAC region led the organic light-emitting diode (OLED) market in 2018, followed by the Americas, and EMEA, respectively. The growth of the organic light-emitting diode (OLED) market in APAC can be attributed to several factors such as the growing demand for consumer electronics devices, the presence of established vendors, the entry of new players, and the introduction of innovative products.