Market Research Future published a research report on “PMOLED Market Research Report- Forecast 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The global PMOLED market has been growing rapidly. The market growth attributes to the growing popularity of PMOLED displays due to color vibrancy, unique contrasts, and high resolution. Besides, the increasing adoption of PMOLEDs in industrial applications escalates market growth.
According to Market Research Future (MRFR), the global PMOLED Narket is poised to reach a valuation of approximately USD 6.3 BN by 2025. In its recently published analysis, MRFR also confirms that the market would register over 19.7% CAGR throughout the forecast period (2019 to 2025). In 2018, the market had created a value of USD 1.8 billion, registering a substantial CAGR.
PMOLEDs run on a self-illuminating technology and eliminate the need for backlighting the display module, increasing the market size. Moreover, PMOLEDs are extremely energy efficient, and hence, they are mainly used for low-power applications. Additionally, advances in OLED technology and upgraded features substantiate the growth of the market. Also, growing investments in the development of PMOLED technology increase the size of the market.
On the other hand, low market acceptance of PMOLED technology is a key factor projected to impede market growth. Nevertheless, the increasing number of applications and adoption in AR/VR headsets would support market growth, creating an opportunity for the PMOLED market in the coming years. Additionally, the growing demand for energy-efficient display technologies for small devices such as smartphones and other electronic devices accelerate market growth.
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Global PMOLED Market - Segments
The report is segmented into four dynamics;
By Type : Transparent PMOLED and Flexible PMOLED.
By End-User : Residential, Commercial, and Industrial.
By Application : Display (television, smartphone, tablets & laptop, automotive displays, others) and Lighting.
By Regions : Americas, Europe, Asia Pacific, and Rest-of-the-World.
North America is expected to grow at the highest CAGR during the forecast period due to the increasing demand for smart displays and smartwatches in the region; it is also the fastest adopter of advanced technology. The US and Canada are expected to dominate the market whereas Mexico is expected to grow at steady rate during forecast period. Asia-Pacific is expected to dominate the PMOLED market during the forecast period with Japan as the leading country due to the presence of a number of PMOLED manufacturers in the country. Germany, the UK, the Netherlands, Sweden, Italy, and France are expected grow at a high rate during forecast period. However, Portugal, Norway, Switzerland, and the rest of the European regions are expected to grow at stable rate during forecast period. The Middle East and Africa and South America segments are also expected to grow at stable rate during forecast period.
Players leading the global PMOLED market are Visionox (China), US Micro Products (US), Sony Corporation (Japan), Samsung Electronics (South Korea), Panasonic Corporation. (Japan), Apple Inc (US), Raystar Optronics Inc (Taiwan), Accelopment AG (Switzerland), Japan Display (Japan), WiseChip Semiconductor Inc.(Taiwan), LG Display (South Korea), and Sharp Corporation (Japan), among others.
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