by Shane Henson — February 15, 2013—According to a report from Global Information Inc. (GII), an international market research company, the global organic light-emitting diode (OLED) displays market is expected to reach $25.9 billion by 2018 from $4.9 billion in 2012, growing at a compounded annual growth rate of 31.7% from 2012 to 2018. Mobile phones are the largest end-use application and accounted for 71% of the total OLED displays market in 2012. Asia Pacific region is the biggest producer as well as consumer of OLED displays and contributed almost 90% to the OLED displays market in 2012.
The report, OLED Displays Market—Global Industry Analysis, Market Size, Share, Growth and Forecast, 2012—2018 also details how the global demand for lighting is projected to grow 12.3% yearly through 2016 to $78.3 billion. Gains will be boosted by an ongoing shift to higher-value lighting technologies that are more efficient, particularly as many countries phase out general-use incandescent lamps. The rising availability of light-emitting diodes (LEDs) and other high-efficiency light sources at more affordable prices, along with improved light quality, will further propel this shift. Product sales will also be driven in part by an acceleration in factors such as personal income, economic activity, global motor vehicle output, and construction spending, according to the report.
OLED displays are expected to enjoy high market penetration mainly due to the benefit of biodegradability that they offer, the report notes. Also, with increasing demand and supply gap of electricity worldwide, OLED displays are creating a new energy-efficient method for electricity consumption. OLED displays are known to save up to 40 percent of the electricity for smartphone and television usage, subject to the brightness and content. In addition, enhanced features, including the wider range of colors, increase in the number of times per second a display redraws data, improved three-dimensional (3D) adaptability, thinner dimensions, better flexibility and transparency, all contribute to the market growth of OLED displays.
