OLED is a new technology for efficient, bright, flexible, thin displays, and lighting panels. The global OLED market was valued at USD 16.58 Billion in 2016 and is expected to reach USD 48.81 Billion by 2023, at a CAGR of 15.2% between 2017 and 2023. The key factors driving the growth of market include the rapid adoption of OLED displays in smartphones and the growing investments in technology and manufacturing facilities.\n\n
The major factors that are boosting the use of OLED displays in smartphones include the benefits offered by these displays such as energy-efficiency, sunlight readability, and easier recycling process than LCDs.
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Rigid display panels accounted for the largest share of the OLED display market
The market for rigid display panels for smartwatches is expected to grow at a high rate between 2017 and 2023. The growth of the market for AMOLED technology-based display panels between 2017 and 2023 can be attributed to the increasing adoption in smartphones, smartwatches, and TVs.
Commercial vertical accounted for the largest share of the market for general OLED lighting
Government support for the development of general OLED lighting solutions is a key factor responsible for the higher market share of the lighting segment in 2016. The US Department of Energy (DoE) has announced 11 new solid state lighting projects grants, 5 of them were related to OLED technologies.
APAC held the largest share of the OLED market
Display panel manufacturers such as Samsung, LG, AU Optronics, Japan Display, and Sharp, among others are based in APAC and have their major manufacturing facilities in different countries in APAC. Several smartphone and tablet vendors, TV and signage display manufacturers, NTE device vendors, and other vendors have their headquarters in APAC.
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