Organic Light Emitting Diode (OLED) Market Set for Robust Growth, Predicted to Reach $78.02 Billion by 2028

LONDON, GREATER LONDON , UK, July 9, 2024 /EINPresswire.com/ -- The organic light emitting diode (OLED) market has witnessed rapid expansion, with its size increasing from $41.95 billion in 2023 to $47.99 billion in 2024, marking a compound annual growth rate (CAGR) of 14.4%. It will grow to $78.02 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. This growth is primarily driven by the burgeoning demand in consumer electronics, enhanced investments, reduced manufacturing costs, intensified market competition, and the rise of flexible display technologies.

Rising Demand in Automotive and Consumer Electronics Fuels Market Growth
The automotive sector is a significant driver of OLED market growth, leveraging OLEDs' self-illuminating properties to deliver vivid colors, deep blacks, and wide viewing angles in instrument clusters, navigation systems, and infotainment screens. This trend is exemplified by the partnership between Ferrari and Samsung Display, aiming to integrate OLED display panels into future automobile models.

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Organic Light Emitting Diode (OLED) Market Key Players and Strategic Partnerships
Major players in the OLED market include Panasonic Corporation, Schneider Electric SE, Toshiba Corporation, BOE Technology Group Co. Ltd., LG Display Co. Ltd., and others. These companies are actively engaged in strategic partnerships to strengthen their market positions and enhance product offerings. For instance, Ferrari's collaboration with Samsung Display underscores the strategic integration of OLED technology in luxury automotive design.

Trends Driving Market Expansion
Key trends shaping the OLED market's future include the integration of mini-LED technology, advancements in OLED foldable devices, adoption in AI and smart assistant applications, sustainable manufacturing practices, and the proliferation of OLEDs in healthcare and wearable devices. These trends are pivotal in expanding OLED applications across diverse industries.

Organic Light Emitting Diode (OLED) Market Segmentation
The OLED market is segmented based on:
• Product Type: Display, Lighting
• Technology: Active-Matrix OLED, Passive-Matrix OLED, Foldable OLED, White OLED, Transparent OLED, Other Technologies
• Display Panel Type: Rigid, Flexible, Other Display Panels
• End-User: Consumer Electronics, Automotive, Retail, Industrial, Commercial, Aerospace And Defense, Healthcare, Other End-Users

Regional Insights: North America Leads the Market
In 2023, North America emerged as the largest regional market for OLEDs, driven by robust demand in consumer electronics and automotive sectors. The comprehensive report offers detailed insights into regional dynamics, market trends, and growth opportunities across regions.

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Organic Light Emitting Diode (OLED) Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Organic Light Emitting Diode (OLED) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on organic light emitting diode (OLED) market size, organic light emitting diode (OLED) market drivers and trends, organic light emitting diode (OLED) market major players, competitors' revenues, market positioning, and market growth across geographies. The organic light emitting diode (OLED) market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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