OLED Market To Reach $152.83 Billion By 2030 | CAGR: 19.4%

OLED Market Growth & Trends

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.

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OLED Market Report Highlights

• The market is experiencing rapid growth due to the widespread adoption of OLED displays in smartphones, increasing demand for better viewing experiences from smartphone and television consumers, the rising popularity of AMOLED displays in wearables, smartphones, and AR/VR headsets, and continuous advancement of OLED technology

• OLED displays dominated the market with a share of 73.2% in 2023, driven by their superior quality and widespread use in high-end smartphones, TVs, and wearables. Their appeal lies in deep blacks, vibrant colors, and energy efficiency, with innovations like foldable and curved screens supported by continuous technological advancements and increased production capabilities

• In 2023, the AMOLED segment led the market with a share of 78.2% and is estimated to register the fastest CAGR of 19.8% from 2024 to 2030. This is due to its superior image quality and flexibility, particularly favored in premium consumer electronics like smartphones and TVs. Advancements in manufacturing have increased production efficiency and lowered costs, making AMOLED displays more accessible while meeting the rising demand for energy-efficient displays

• The flexible OLED segment is estimated to register the fastest CAGR from 2024 to 2030 driven by its innovative design possibilities, such as bendable and foldable displays, which appeal to consumers in smartphones, monitors, and other devices

• The below 6-inches segment dominated the market with a share of 37.6% in 2023 driven by the widespread use of smartphones and other portable devices

• Asia Pacific dominated the market in 2023 due to the presence of a robust automotive industry, major aerospace & defense companies, leading solution providers, skilled workforce, technological infrastructure, and sustained demand driven by technological advancements across industries

• In January 2024, Samsung Electronics announced the launch of its 2024 lineup of OLED, QLED, Lifestyle displays, and MICRO LED, showcasing a new AI processor to usher in the AI screen era. These displays aim to enhance users' lives both on and off the screen by offering improved picture and sound quality, along with AI-powered features. The lineup includes the Neo QLED 8K TVs, featuring the NQ8 AI Gen3 processor for enhanced performance, picture quality, and design-enhancing features

OLED Market Segmentation

Grand View Research has segmented the global OLED market on the basis of product, technology, panel type, display size, application, and region:

OLED Product Outlook (Revenue, USD Million, 2017 - 2030)

• OLED Display

• OLED Lighting

OLED Technology Outlook (Revenue, USD Million, 2017 - 2030)

• AMOLED

• PMOLED

OLED Panel Type Outlook (Revenue, USD Million, 2017 - 2030)

• Rigid
• Flexible
• Others

OLED Display Size Outlook (Revenue, USD Million, 2017 - 2030)

• Below 6 Inches

• 6 to 20 Inches

• 21 to 50 Inches

• More than 50 Inches

OLED Application Outlook (Revenue, USD Million, 2017 - 2030)

• Smartphones & Tablets

• PC Monitors & Laptops

• Television Sets

• Digital Signage/Large Format Displays

• Smart Wearables

• Automotive Display

• Others

OLED Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Taiwan

• Latin America

  • Brazil

• Middle East & Africa (MEA)

  • KSA

  • UAE

  • South Africa

List of Key Players in OLED Market

• Samsung Electronics

• LG Electronics

• Sony Corporation

• AU Optronics Corp

• BOE Display

• IPG Automotive

• Robert Bosch GmbH

• TDK Corporation

• Rit Display

• Visionox

• eMagin Corporation

• Universal Display Corporation