OLED Market worth $72.8 billion by 2026

According to the new market research report "OLED Market with COVID-19 Impact Analysis published by MarketsandMarkets™, the OLED Market size was valued at USD 38.4 billion in 2021 and is projected to reach USD 72.8 billion by 2026. It is expected to grow at a CAGR of 13.6% during the forecast period.

Rapid adoption of OLED displays in smartphones, significant investments in building new facilities to manufacture OLED panels, high demand for better viewing experience, especially from smartphone and television consumers, rapid advances in OLED technology, increased demand for AMOLED displays in AR/VR headset applications, and financial support from governments worldwide for OLED lighting research are the key driving factors for the OLED market.

The consumer segment is expected to continue to account for the largest size—more than 90%—of the market during the forecast period. The consumer vertical includes products such as smartphones, television sets, smart wearables, PC monitors and laptops, and tablets—all of which have significant shares in the global OLED market. The consumer electronics market is growing at a very fast speed with remarkable advancements in technology, such as improving picture clarity in large-screen TVs and the evolution of smartphones. OLED technology enables the development of these advanced products. Factors driving the demand for OLED products in the consumer segment include technological advancements in consumer devices and economic growth worldwide. Smartphones and television sets use OLED display extensively.