The adoption of OLED displays in smartphones, along with the government support for OLED lighting in various countries is the major driving force for the growth of the OLED market. In the industry segment of the OLED market, the display application is expected to have a higher market size compared to the lighting application. The large market size of the display application is due to OLEDs finding applications in various sectors such as wearables, healthcare, transportation, lighting, television, and medical devices, among others.
The global OLEDmarket is expected to reach $43.92billion by 2020,at a CAGR of 16% between 2014 and 2020.
The global OLEDmarkethas been segmented into two categories- application and geography. The application segment includes display and lighting applications. The display application is further segmented based on type, panel-size, and product; whereas, the lighting application is categorizedinto type and end-user. The OLED market has also been segmented on the basis of geography. The market based ongeography has been classified into various regions such as the Americas, Europe, APAC, and RoW.
Major players that offer various products in the OLEDmarket are Acuity Brands Lighting, Inc. (U.S.), AU Optronics Corporation (Taiwan), the BOE Technology Group Co., Ltd. (Taiwan), InnoLux Corporation (Taiwan), Koninklijke Philips N.V. (Netherlands), LG Display Co., Ltd. (South Korea), OSRAM Licht AG (Germany), Pioneer Corporation (Japan), RITEK Corporation (Taiwan), and Samsung Electronics Co., Ltd. (South Korea).