Gobal organic light-emitting diode market size is estimated to grow by USD 39,447.32 million

According to Technavio, the global organic light-emitting diode market size is estimated to grow by USD 39,447.32 million from 2022 to 2027. The market is estimated to grow at a CAGR of 13.84% during the forecast period. APAC will account for the largest share of the global market during the forecast period.

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

The OLED display segment will account for a significant share of the global market during the forecast period. The prominent LCD vendors are shifting toward OLED production due to the declining average selling price (ASP) of LCD panels, which results in low-profit margins. Low-cost fabs from China are one of the reasons for the fall in the ASP of LCD panels, as the market is witnessing an oversupply of LCD display panels compared to the market demand. Hence, vendors such as Samsung Electronics and LG Electronics are shifting toward OLED display manufacturing due to higher profitability. Furthermore, there is an increased acceptance of OLED displays by end-users, which has encouraged display manufacturers to invest in OLED fabrication units. Such factors will increase the market growth during the forecast period.

By geography, the global organic light-emitting diode market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global organic light-emitting diode market.

    APAC is estimated to account for 60% of the growth of the global market during the forecast period.  APAC has the highest concentration of consumer electronic device manufacturers. Most consumer electronic device manufacturing sites are located in South Korea, Taiwan, Japan, and China. Moreover, China is a leading hub for OLED/AMOLED display manufacturers because of the rising number of display device manufacturers in the country. This is mainly attributed to the availability of abundant resources and the availability of low-cost labor in the country. Such factors will increase the market growth in this region during the forecast period.