OLED Display Market Advanced Technology and New Innovations by 2031
OLED Display Market
OLED display market is expected to cross the value of US$ 167.35 Bn with CAGR of 17.8% by the end of 2031
WILMINGTON, DELAWARE, USA, June 27, 2022 /EINPresswire.com/ -- Transparency Market Research delivers key insights on the global OLED display market1. In terms of revenue, the global OLED display market is estimated to expand at a CAGR of 17.8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global OLED display market.
The global OLED display market is broadly affected by several factors, including increase in use of OLED display and rapid adoption of OLED display in the consumer electronics industry, which, in turn, is anticipated to boost the global OLED display market.
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Technology innovations, better functionalities, and falling prices are expected to propel the demand for OLED displays in mobile phones. Mobile phones accounted for a prominent share of the total OLED display market. With the success of mobile phones, the demand for OLED displays for mobile applications is expected to increase.
OLED comprise organic diodes emit that their own light rather than using backlight in LCD display. By contrast, an OLED can light up individual pixels, when necessary, and to different degrees. Therefore, battery life can be significantly improved on smartphones that use OLED screens.
Most display experts and consumers agree that OLED displays are the world’s best smartphone displays. The best smartphone OLED displays are the Super AMOLED displays produced by Samsung Display, but other OLED producers (such as LG and BOE Display) are also producing high quality OLEDs.
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The above factors are likely to drive the use of OLED display during the forecast period.
Asia Pacific held a prominent share and is expected to maintain its dominance of the global market during the forecast period, as the region is the center of manufacturing of consumer electronic equipment. Additionally, various OLED display manufacturers are continuously focusing on R&D activities in order to improve the equipment performance, thereby boosting the OLED display market in the region.
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Key players operating in the global OLED display market include AU Optronics Corp, TDK Corporation, Sony Corporation, Rit Display, LG Display, Pioneer, Visionox, BOE Display, eMagin corporation, and Universal Display Corporation.
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