The Global OLED Lighting Devices Market size is expected to reach USD 13.49 Billion in 2021 and USD 24.41 billion by 2028, at a CAGR of 12.4% during the forecast period (2021-2028). The market is set to grow rapidly over the forecast period. The major drivers for this growth are increasing demand, cost-effectiveness, and low manufacturing costs of OLEDs as well as rapid adoption by consumers in emerging economies. With growing awareness about their benefits such as energy efficiency and sustainability, the application segment will dominate the global market during 2021-2028.
An OLED (organic light-emitting diode) is a flat panel that emits more natural, warm white light than traditional LEDs. The first commercially available application for this technology was the Samsung Galaxy S® device with a Super AMOLEDTM display. This type of screen allows users to view content in what looks like real-life colors and contrast ratios are richer because black pixels create an infinite contrast ratio from any other color pixel on the screen. The term Organic Light Emission Diode refers to devices that emit light when an electric current passes through them – they do not contain any toxic or hazardous substances whatsoever so there’s no risk of fire or explosion as you might find with some types of lighting such as fluorescent tubes.
The technology enables the consumers to control brightness, color, and contrast in order to provide an optimal viewing experience for any environment. OLED devices are currently being used in many different lighting applications such as houses, transportation vehicles, and other sectors.
On the basis of Type, the market is segmented into White OLED Lighting, Flexible OLED Lighting, and Transparent OLED Lighting.
White OLED Lighting (white LED, white light-emitting diode) is an emerging technology in the lighting industry that can produce both warm and cool illumination. It has been used for a variety of applications including general residential, commercial offices, retail stores, and museums or art galleries. Unlike traditional incandescent bulbs which emit yellowish light with high energy consumption levels at 50% to 60%, LEDs are able to create more natural colors by emitting only blue hues instead of other wavelengths like reds and greens.
The efficiency of White OLED Lighting ranges from 130 lumens per watt to 200 lumens per watt depending on the type of device chosen. This means it requires less electricity than its counterparts such as halogens or compact fluorescent lights while maintaining the same brightness.
Flexible OLED lighting is a new type of OLED light that has the advantage over LEDs in being flexible. This technology was first developed by the University of Cambridge and re-developed as FOLEDs by Oxford Photonics. The lights are made from a sheet of plastic, containing an array of small pixels or sublayers that emit colored light when charged with electricity (a process called electroluminescence). A solution used to coat the surface will change its color.
The advantages for this product include flexibility which allows it to be rolled up into compact shapes; greater efficiency than traditional LEDs; lower manufacturing cost due to the simplicity of design compared to LCD screens because fewer layers need tiling together.
Transparent OLED Lighting is the newest form of lighting that produces an intense quality but also functions just like glass allowing for natural daylighting or outdoor visibility. In this type, a layer of air (gas) is placed between two parallel glass panels through which electrons can travel freely since they do not interact with gas particles. When the voltage applied across these sheets then electricity flows from one panel to another causing photons-particles that make up visible light to be emitted on the outer surface leading to illumination.
On the basis of Application, the market is segmented into Houses, Transportation Vehicles, and Others. The demand for OLED Lighting is mostly concentrated in houses where it sees as a substitute for incandescent light bulbs and CFLs. This form of lighting has been known to produce high-quality light but also significantly reduces energy consumption which leads to an improved environment while the brightness levels are equal to or higher than other forms of lights
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. OLED Lighting Devices are mostly concentrated in the European region that exhibits a strong consumption of this product due to its increased popularity as compared to others. In addition, it is also predicted to have an impressive growth rate during the forecast period which will lead to improving demand for these products across different regions globally over time.
The North American market is anticipated to grow at a rapid pace during the forecast period, due to the increasing preference of customers in countries such as the USA and Canada for using OLED Lighting Devices. One probable factor that is attributing to this growth is the introduction of new technological innovations in LED lighting products which are more energy-efficient than OLED devices.
Additionally, Asia Pacific will show an impressive growth rate during the forecast period because it has experienced high global demand for products manufactured such as OLED lighting devices on account of their energy efficiency and durability which make them excellent substitutes for traditional incandescent bulbs or fluorescent tubes. The rapid growth in this region can primarily be attributed to its large population coupled with favorable economic conditions as compared to other regions globally.
Up Market Research published a new report titled “OLED Lighting Devices Market research report which is segmented by Types (White OLED Lighting, Flexible OLED Lighting, Transparent OLED Lighting), By Applications (Houses, Transporting Vehicles, Other), By Players/Companies Osram, Philips, Toshiba, GE, Konica Minolta, LG Chem, Universal Display, First-O-Lite, Ason Technology”.
|Report Attributes||Report Details|
|Report Title||OLED Lighting Devices Market Research Report|
|By Type||White OLED Lighting, Flexible OLED Lighting, Transparent OLED Lighting|
|By Application||Houses, Transporting Vehicles, Other|
|By Companies||Osram, Philips, Toshiba, GE, Konica Minolta, LG Chem, Universal Display, First-O-Lite, Ason Technology|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||202|
|Number of Tables & Figures||142|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type White OLED Lighting, Flexible OLED Lighting, Transparent OLED Lighting and By Application Houses, Transporting Vehicles, Other.
Some of the companies that are profiled in this report are:
OLED Lighting Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the OLED Lighting Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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