Global Market Insights added a new report on global OLED market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.
The Asia Pacific OLED market is anticipated to exhibit the highest growth owing to the presence of key players such as Samsung and LG corporation. Additionally, rapid industrialization has aided in the increase in the economic conditions of countries in the region, allowing consumers to increase their spending on luxury products and high-end technologies.
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OLED Market size is projected to experience a significant growth during the forecast timeframe owing to the high adoption of these systems in consumer electronic devices like smartphones and laptops. The technology provides high advantages over traditional LED screens through high-contrast displays and improved static image quality. Additionally, their increased responsivity to touch, smoothness of display, and refresh rate approximately 1000 times faster than standard LED-backlit LCD panel is contributing to the high adoption among consumers.
Products available in the OLED market require substantially less power as they do not require back-lighting. These systems consume approximately 40% of an LCD displaying an image which is primarily black, providing massive savings on the spending of electricity and usability of battery powered portable products for longer durations of time.
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Governments of various countries are providing funding for the research and development of these technologies, aiding in the growth of the OLED market. For instance, in 2015, the U.S. Department of Energy provided approximately USD 10 million funding to companies such as Acuity Brands Lighting and Pixelligent Technologies, for development of high-quality technologies.
The high costs and the need for skilled labor for the development and manufacturing of these technologies is hindering the industry growth. However, automation of the manufacturing process is anticipated to revolutionize the OLED market in the long run. This technology also possesses substantial technical drawbacks on account of the likelihood of color-shift and burn in. For instance, if an image is left unattended on a screen for an exceptionally long amount of time, there is a considerable risk of the image to be retained or burned onto the screen.
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The segmentation of the OLED market by material comprises PMOLED and AMOLED. The AMOLED contains a storage capacitor that maintains the line pixel states, allowing large size and higher resolution displays. These systems, as a result, can be made much larger than PMOLED allowing for the high growth in the consumer electronics applications.
Government support for the development of low power-reliant technologies is a major driver to the OLED market growth in the Europe region. For instance, in January 2017, the EU launched project LO LOMID (Large cost-effective OLED micro-displays and their applications) that aims to develop next-generation micro-displays for VR and AR applications.
Players operating in the OLED market include Samsung Electronics, OLEDworks, LG Display. Osram, Universal Display Corporation, Pixelligent Technologies, Panasonic Corp, Acuity Brands Lighting, and Acuity Brands Lighting.
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