The advancements in display technologies and their wide-scale adoption have fueled demand for LEDs and OLEDs. In a report circulated by Market Research Future (MRFR), it has been revealed that the global Covid-19 Impact on LED and OLED Display Market is estimated to earn revenues worth $121 Billion by 2023.
In addition, the repo also unfolds that the global market is expected to register expansion at a CAGR of 24% during the review period 2018 to 2023.
The advantages of these display technologies, such as durability, affordability, energy efficiency, etc., are likely to drive the expansion of the market in the upcoming years.
OLEDs are gaining popularity for computer and smartphone screens. Increasing demand for smartphones, laptops, and desktops is expected to boost the expansion pace of the Covid-19 Impact on LED and OLED Display Market in the nearby future. In addition, the rising demand for LED from the consumer electronics industry is further likely to uplift the status of the global market in the forthcoming years.
The adoption of advanced display technologies by the automotive industry leaders is also anticipated to expedite the growth process of the Covid-19 Impact on LED and OLED Display Market during the forecast period.
The product is also poised to observe rising commercial and residential applications over the next couple of years. Also, the schemes launched by the governments promoting the adoption of energy-efficient display technologies are likely to influence the Covid-19 Impact on LED and OLED Display Market positively. On the other hand, the complex manufacturing process remains an impediment to the growth of the global market. Communal News