New York, United States , Nov. 01, 2022 (GLOBE NEWSWIRE) -- At a compound annual growth rate (CAGR) of 12.50% from 2021 to 2030, the Global OLEDoS (Organic Light-Emitting Diode on Silicon) Market Size is predicted to be worth USD 12.13 billion in 2021 and up to USD 37.11 billion by 2030. OLEDoS technology is gaining popularity among consumers as a result of its increased power efficiency, lightness, thinness, brightness, and greater contrast. OLEDs improve the viewing experience for users by providing wider viewing angles, faster response times, greater contrast ratios, and more brilliant colors. as per the latest research report by Spherical Insights & Consulting. North America is anticipated to have the largest market share of the worldwide market for OLEDoS (Organic Light-Emitting Diode on Silicon) Market due to the presence of significant producers of premium OLEDoS (organic light-emitting diode on silicon) modules.
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The OLEDoS (Organic Light-Emitting Diode on Silicon) market has shown remarkable growth in recent years and is expected to continue this trend over the coming years. OLEDoS, also known as OLED or Si-OLED, is a cutting-edge display innovation that is replacing LCD displays in a few industries, including small displays for flexible applications, TVs, and micro displays. OLEDs are made from very thin films of naturally luminescent materials, which emit light when electricity is applied. OLEDs have a far less complicated construction than LCDs and have a few advantages over current technology.
The rise of the display and large-screen backlight markets, as well as growing government efforts to promote the adoption of OLEDs, are all key factors in the high demand for affordable and energy-efficient OLED lighting. The market for organic LEDs is, however, somewhat constrained by problems like high technology prices and severe technological limitations. Furthermore, there will likely be a lucrative organic LED market opportunity globally due to the rising demand for eco-friendly lighting options and the widespread adoption of smart lighting systems. In addition, major factors driving the forecast for the global organic LED market include the high demand for affordable and energy-efficient OLED lighting, increased government initiatives to promote OLED adoption, and expansion of the display and large screen backlight industries.
The global OLEDoS (Organic Light-Emitting Diode on Silicon) market suffered from the COVID-19 epidemic. Indescribable human suffering, including illness and death, as well as immeasurable financial consequences, have been brought on by COVID-19. Some businesses have stopped or drastically curtailed their manufacturing capacity as a result of the COVID-19 epidemic. When lockdowns were implemented and all factorial units were shut down as a result of the COVID-19 issue, sales of OLEDoS (Organic Light-Emitting Diode on Silicon) dropped dramatically, costing manufacturing companies sales. Similar to the COVID-19 crisis, renewable technologies were given more attention; nevertheless, fewer power facilities were in service as a result of a manpower shortage.
The increasing levels of government assistance from many countries are concentrated on the global adoption of OLED technologies. Due to many nations' positive attitudes regarding the use of OLED lighting technology, the global market is expanding. For instance, the German government provides cities with incentives to replace outdated street lighting with cutting-edge OLED technology.
Both developed and developing countries are seeing an increase in the need for energy-efficient lighting options, which is accelerating market expansion. Future OLED technology will be able to meet the required performance and cost standards. The organic light emitting diode (OLED) market also gains from rising digitization, bigger investments, higher consumer spending, and changes in lifestyle. Additionally, a growth in financing for research and development from the government and business throughout the anticipated period of 2022 to 2029 offers lucrative opportunities for market participants. The sector will also benefit from product introductions and technical improvements.
Browse key industry insights spread across 219 pages with 96 market data tables and figures & charts from the report “Global OLEDoS (Organic Light-Emitting Diode on Silicon) Market Size, Share & Trends, COVID-19 Impact Analysis Report, by Type (Flexible, and Foldable), by Technology (PMOLED, and AMOLED), by End-Use Industry (Consumer Electronics, Aerospace & Defense, Healthcare, Industrial, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030”, in detail along with the table of contents
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Energy-efficient lighting solutions are being implemented in a number of established and developing economies. According to experts, OLED technology will eventually meet the crucial performance and cost requirements, enabling a seamless transition from conventional to efficient lighting systems. Additionally, government and business funding for R&D aims to hasten the process of removing the technological challenges that the OLED lighting solution faces.
Due to its physical characteristics—it is robust and durable by nature and can protect the goods in harsh conditions—the flexible category has dominated the market share of the worldwide OLEDoS (Organic Light-Emitting Diode on Silicon) market in 2020. The AMOLED held the biggest market share in the global OLEDoS (Organic Light-Emitting Diode on Silicon) market in 2020, with the expansion of the OLEDoS market expected to be fueled by rising demand in the retail and consumer goods sectors. Due to the growing global demand for electronics and their components, consumer electronics held the greatest market share in the OLEDoS (Organic Light-Emitting Diode on Silicon) market in 2020.
The global OLEDoS (Organic Light-Emitting Diode on Silicon) market is divided into consumer electronics, aerospace & defense, healthcare, industrial, automotive, and others based on the end user industry segment. Due to the growing global demand for electronics and their components, consumer electronics held the greatest market share in the OLEDoS (Organic Light-Emitting Diode on Silicon) market in 2022.
North America is anticipated to have the largest market share of the worldwide market for OLEDoS (Organic Light-Emitting Diode on Silicon) Market due to the presence of significant producers of premium OLEDoS (organic light-emitting diode on silicon) modules. The market is growing as a result of the use of OLED displays in mobile devices, digital billboards, and the automotive sector, as well as the increased demand for TV display panels.
Asia Pacific is anticipated to see the greatest growth rate throughout the projected period of the global OLEDoS (Organic Light-Emitting Diode on Silicon) Market due to the quick industrialization and significant economic growth rate. Growing adoption of OLEDoS applications in the area. The region is also home to companies that manufacture TVs, TV sets, and other products. Samsung Electronics, a major OLED display manufacturer, has its headquarters in South Korea.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
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