Lewes, DE -- (SBWIRE) -- 09/04/2015 -- A leading market & technology forecast consultancy, today announced their market forecast of the worldwide consumption of organic light emitting diodes (OLEDs) in lighting applications.

Publisher projects that the worldwide consumption value of selected lighting OLEDs will reach $144 million in 2015; consumption value is forecast to increase at an average annual growth rate of 74.8 percent to nearly $2.36 billion in 2020. The total value of OLED lighting is forecast an increase to $6.7 billion in the year 2023, before slipping to $5.544 billion in 2025.

Quantity/unit volume is forecast to continue to climb through 2025; however, sharp decreases in average selling prices will eventually cause the overall market value to decrease.

The definition for lighting in this study includes general lighting, which is used to provide the main illumination of an area. The lighting category also includes specialized lighting, such as directional, supplementary, and architectural lighting, as well as OLED panels/tiles used in vehicles for the main purpose of lighting. However, OLEDs used in signage, TVs, displays, and signals are not included in the market forecast data for this study.

The OLED lighting market will grow beyond the 'light-bulb' mentality to a broad base of applications, which currently may not even be in the idea-stage. Applications that have been mentioned by industry participants include OLEDs incorporated into windows/ skylights, wall and ceiling panels, mirrors with light function, flooring/stairs, and other (almost endless possibilities) said Stephen Montgomery, Principal Analyst at Publisher.

OLED lighting is environmentally friendly, mercury-free, and ideal as next-generation lighting. Because of their extreme thinness, lightness, low electric power consumption, and use as a surface light source, OLEDs enjoy a wide range of potential applications," Montgomery added.

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