POLED Panel Market Research, 2032
The Global POLED Panel Market was valued at $0.8 billion in 2022, and is projected to reach $5.2 billion by 2032, growing at a CAGR of 20.1% from 2023 to 2032.
A POLED (Plastic Organic Light Emitting Diode) display is an OLED technology that uses polymer materials instead of small molecules for the organic emitting layer. This results in increased flexibility and reduced production costs. The thin and flexible polymer layer makes POLEDs suitable for various applications. POLED panels are used in smartphones, tablets, wearables, and televisions due to their flexibility, allowing curved and bendable screens, leading to unique designs in mobile devices and wearables. Moreover, these displays offer impressive color reproduction, high contrast ratios, and quick response times, delivering an engaging visual experience for users.
End users benefit from POLED panels or AMOLED by having access to foldable smartphones that provide a larger screen when needed while remaining portable. The vivid colors and deep blacks enhance the multimedia consumption experience. As technology progresses, POLED panel industry is expected to become more widespread, introducing innovative and captivating devices across various industries. The POLED panel market is expected to witness notable growth during the forecast period owing to an increase in use of POLED panel in automotive industry and surge in energy efficient POLED panel for wearables. Moreover, increase in use of POLED panel for consumer electronics and healthcare application is expected to provide lucrative opportunities for the growth of the POLED panel market share during the forecast period. On the contrary, high manufacturing costs and complex fabrication process is the restraint for POLED panel market growth during the forecast period.
Segment Overview
The poled panel market is segmented into type and application.
On the basis of type, the market is classified into flexible pOLED displays, foldable pOLED displays, and others. In 2022, the flexible pOLED displays segment dominated the market, and it is expected to acquire a major market share till 2032.
Depending on application, the market is categorized into smartphones and wearables. The smartphones segment acquired the largest share in 2022 and wearables segment is expected to grow at a significant CAGR from 2023 to 2032.
Region-wise, the POLED panel market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive Analysis
Competitive analysis and profiles of the major POLED panel industry players that have been provided in the report include LG DISPLAY CO., LTD., Motorola Mobility LLC (Lenovo), Google (Alphabet Inc.), and Apple Inc. The key strategies adopted by the major players of the POLED panel market outlook are product launch and business expansion.
Country Analysis
Country-wise, the U.S. acquired a prime share in the POLED panel market size in the North American region and Canada is expected to grow at a significant CAGR during the forecast period of 2023-2032.
In Europe, UK, dominated the POLED panel market share, in terms of revenue, in 2022 and is expected to follow the same trend during the forecast period. However, the Germany is expected to emerge as the fastest-growing country in Europe's POLED panel market with a CAGR of 21.3%.
In Asia-Pacific, China, is expected to emerge as a significant market for the POLED panel market industry, owing to a significant rise in investment by prime players due to increase in growth of smartphones and wearables companies in this region.
By LAMEA region, the Latin America garner significant market share in 2022. The LAMEA POLED panel market opportunity has been witnessing improvement, owing to the growing inclination of prime vendors towards utilizing the POLED panel across this region in various applications such as healthcare, automotive and others. Moreover, the Latin America region is expected to grow at a high CAGR of 17.6% from 2023 to 2032.
Historical Data & Information
The POLED panel display market is highly competitive, owing to the strong presence of existing vendors. Vendors of the POLED panel market with extensive technical and financial resources are expected to gain a competitive advantage over their competitors because they can cater to market demands. The competitive environment in this market is expected to worsen as technological innovations, product extensions, and different strategies adopted by key vendors increase.
Key Developments/ Strategies
LG DISPLAY CO., LTD., Motorola Mobility LLC (Lenovo), Google (Alphabet Inc.), and Apple Inc are the top companies holding a prime share in the POLED panel market. Top market players have adopted various strategies, such as product launch, and business expansion to expand their foothold in the POLED panel market.
- In August 2021, LG Display Co. LTD., announced the investment of 3.3 trillion Won (around $2.8 billion) to expand pOLED capacity.
- In June 2023, Motorola announced the launch of Moto Razr+, and Moto Razr its next series of folding phones. The display panel of these smartphones are made from pOLED display.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the poled panel market analysis from 2022 to 2032 to identify the prevailing poled panel market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the poled panel market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global POLED panel market forecast.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global POLED panel market trends, key players, market segments, application areas, and market growth strategies.
POLED Panel Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 5.2 billion |
 Growth Rate | CAGR of 20.1% |
 Forecast period | 2022 - 2032 |
 Report Pages | 174 |
 By Type |
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 By Application |
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 By Region |
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 Key Market Players | Google (Alphabet Inc.), LG DISPLAY CO., LTD., Apple Inc., Motorola Mobility LLC (Lenovo) |
Analyst Review
There is a strong expectation for significant growth in the market in the coming years. These industry leaders believe that several factors such as the use of POLED panel in automotive and healthcare sector is anticipated to drive this growth and create ample opportunities for companies operating in the POLED panel sector.
The surge in POLED panels popularity is attributed to several key factors. Flexibility allows the creation of curved and foldable displays, catering to the rise in demand for innovative and aesthetically pleasing devices. This unique feature sets pOLED technology apart in the competitive consumer electronics industry, driving its market growth in smartphones, wearables, and other portable devices. Another significant factor is the energy efficiency of POLED panels. Unlike traditional LCD screens, pOLEDs are self-emissive, meaning each pixel emits light independently, reducing power consumption. This appealing characteristic extends battery life in mobile devices, making POLED panels a preferred choice for manufacturers and consumers alike, considering the rise in importance of energy conservation.
Furthermore, advancements in materials and manufacturing processes have contributed to the improved performance and cost-effectiveness of POLED panels. Ongoing R&D efforts have focused on enhancing durability, brightness, and color accuracy, making pOLEDs more reliable and competitive with other display technologies. As production techniques become more streamlined, the reduced manufacturing costs make POLED panels accessible to a wider range of industries and applications. Thus, the surge in popularity of POLED panels is attributed to their flexibility, energy efficiency, and advancements in materials & manufacturing. These factors collectively drive the adoption of POLED panels across various sectors, positioning them as a promising and influential display technology for the future.
Integration of POLED panels in smartphones and wearables are the upcoming trends of POLED Panel Market.
Smartphones is the leading application of POLED Panel Market.
Asia-pacific and North America is the largest regional market for POLED Panel.
The global poled panel market was valued at $836.82 million in 2022.
LG DISPLAY CO., LTD., Motorola Mobility LLC (Lenovo), Google (Alphabet Inc.), and Apple Inc. are the top companies to hold the market share in POLED Panel.
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