The OLED market is expected to witness growth in the near future due to mounting demand for OLED technology in the automobile industry.

Sarasota, FL -- (SBWire) -- 06/06/2017 --Zion Market Research, the market research group announced the analysis report titled "OLED Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"

Global OLED Market: Overview

An organic light-emitting diode is a light-emitting diode wherein an emissive electroluminescent layer is made up of an organic compound, which emits light by the influence of electric current. This organic layer lies between two electrodes. OLEDs are extensively used in the development of digital displays in electronic devices such as computer monitors, handheld gaming consoles, PDAs, television screens, and mobile phone screens. AMOLED requires thin-film transistor backplane and they have larger display sizes than OLEDs along with higher resolution. White OLED devices in solid-state lighting are one of the fastest growing applications across the world. OLED technology offers several advantages including reduced size, power efficiency, and is also lightweight as compared to LED and LCD.

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Global OLED Market: Growth Factors

The OLED market is expected to witness growth in the near future due to mounting demand for OLED technology in the automobile industry. The automobile manufacturers are focusing on using OLED technology in lighting and displaying the products in the vehicles. They are deploying OLED dashboards for OLED video entertainment displays and navigation purposes in the cars for improved image quality. In addition, vehicle manufacturers are widely adopting OLED technology for lamp designs and luminaires in the interior lighting applications, this may give rise to the market growth. AMOLED products consume less power and are perfect for large screen displays; thus, they are used in the AMOLED screens in Nokia, Sony, Samsung, and HTC smartphones. These factors anticipate fueling the global OLED market growth. Over the next few years, OLED display market may dominate over OLED lighting owing to better contrast ratio and viewing angle features.

Global OLED Market: Segmentation

The global OLED market is segmented based on technology, application, and geography. The technology segment is classified into PMOLED and AMOLED. The AMOLED (active-matrix OLEDs) segment accounted for the largest market share in the market owing to widespread use of the monitors, smartphones, and TVs. Based on the application, the market is segregated into lighting panel and display panel. The display panel segment is the leading segment among others due to its superior picture quality thus fostering the OLED market. Geographical representation of the market is seen into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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Global OLED Market: Regional Analysis

Asia Pacific is the dominating region for OLED market, which contributed to the largest market share. This region is expected to continue this growth owing to the presence of prominent vendors. Many Chinese vendors are highly investing in order to develop advanced technology in their premise. Growth in the R&D activities, technological advancement, and rising demand in the automotive industries for display and lighting solution are major factors that are driving the OLED market in the European region.

Global OLED Market: Competitive Players

Major market players dominating the global OLED market are Koninklijke Philips N.V., AU Optronics, Samsung Display, Acuity Brands, Panasonic Corporation, LG Display, Novaled GmbH., and OSRAM.

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Global OLED Market: Regional Segment Analysis

North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa