PUBLISHER: Grand View Research | PRODUCT CODE: 1512024
PUBLISHER: Grand View Research | PRODUCT CODE: 1512024
The global OLED market size is anticipated to reach USD 152.83 billion by 2030, registering a CAGR of 19.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rapid advancement of organic light emitting diode (OLED) technology has significantly contributed to the growth of the market. OLED displays offer several advantages over traditional LCDs, including better image quality, higher contrast ratios, faster refresh rates, and wider viewing angles. These advantages have led to increased product adoption in smartphones, televisions, and other electronic devices. AMOLED displays are widely used in electronic devices, such as smart wearables, smartphones, and AR/VR headsets. Advantages, such as high contrast ratios, wide viewing angles, vibrant colors, and fast response times, have made AMOLED displays a popular choice in the consumer electronics industry. The growing demand for tablets and smartphones with high-quality displays is a key factor driving market growth. The rapid adoption
of AMOLED technology by key smartphone manufacturers, such as Apple, Samsung, and OnePlus, bodes well for the market growth. Moreover, OLED micro-displays or MicroOLEDs are used in several AR/VR headsets, such as Apple Vision Pro, as they help reduce form factor and screen door effects. Rapid advancements in OLED technology, including revolutionized picture quality, color accuracy, and contrast ratios, have unfolded new opportunities for market growth.
In addition, OLED technology has enabled the development of flexible and transparent displays, opening up new possibilities for design and application. The declining costs of OLED production have also made OLED displays more accessible to consumers, further driving market growth. As the technology continues to improve and new applications are discovered, the market is expected to experience continued growth in the coming years. Furthermore, the rapid adoption of OLED technology in automotive displays and lighting applications supports market growth. Automotive manufacturers are increasingly opting for OLED displays for their vehicles' infotainment systems and dashboard screens due to the advantages offered, such as high contrast ratios, wide viewing angles, and the ability to produce vibrant colors, enhancing the overall user experience in vehicles. Furthermore, OLED lighting is utilized in automotive exterior and interior lighting systems due to its flexibility, thin profile, and energy efficiency. The adoption of OLED technology in automotive applications is driven by consumer demand for sleeker designs, improved aesthetics, and advanced functionality in vehicles. As automotive OEMs continue to integrate OLED displays and lighting into their vehicles, the demand for OLED panels is expected to grow substantially. Moreover, advancements in OLED manufacturing processes are leading to cost reductions, making OLED displays and lighting more affordable for automotive manufacturers.