There is an increasing demand for OLED displays in smart television across the globe. The increase in use of the OLED technology in manufacturing of various electronic products such as smartphones, tablets, televisions, etc. is driving the demand for OLED displays. The OLED technology can be used in smart TVs in order to provide beautiful lightning panels. Many consumers are more likely to opt for OLED displays for better image quality. Digital growth in various economies is responsible for the emergence of smart electronic devices. Increasing sales of digital televisions with Internet-connected technologies is expected to drive the OLED display market during the forecast period. Digital television offers online interactive media, online video streaming, online music, over-the-top content (OTT), on-demand streaming, etc. All these factors are contributing to the rising demand for OLED displays in smart television, which, in turn, boost the global market during the forecast period.
Booming Semiconductor and Electronics Industries to Boost OLED Display Market
Growth and advancement of semiconductor and electronics industries can be attributable to the growth of the OLED display market. Some of the key benefits of using OLED displays in semiconductor and electronics industries are excellent performance reliability, durability, and cost-efficiency. Flourishing growth and advancement in the mobile phones segment can be ascribed to the rising demand for OLED display. There is a consistent demand for mobiles and smartphones across the globe.
Rising sales of mobiles phones and increasing number of mobile manufacturers are expected to drive the demand for OLED displays. Increasing applications of OLED displays in various consumer electronics products is due to their ability to consume less power. The global OLED display market is anticipated for healthy growth in the upcoming years, due to collaborate efforts of market stakeholders and product manufacturers to provide innovative and technologically advanced products. The increasing popularity of AMOLED is creating value-grab opportunities in the global market.
Potential Growth Opportunities for Market Players in Asia Pacific
Asia Pacific accounts for the largest share of the global OLED display market. Rapid urbanization, increase in production of electronic devices, and rise in presence of key manufacturers operating in the Asia Pacific are factors contributing to the market growth. India and China are major countries driving the demand for various consumer electronics products. The increasing adoption of online distribution channels and eCommerce platforms is expected to drive the expansion of the market in Asia Pacific.
Additionally, various OLED display manufacturers are continuously focusing on R&D activities in order to improve their product portfolio, thereby boosting the OLED display market in the region. The Asia Pacific OLED display market is driven by factors such as the lucrative presence of manufactures, increase in adoption of consumer electronics, and rapid economic growth. Manufacturers operating in the Asia Pacific OLED display market are gaining profitable growth opportunities. Key market players operating in the global OLED display market are focusing on expanding their production capacity due to rising demand from various end users.
Increase in Disposable Income and Adoption of Smart Electronics Products
Rising disposable income, changing lifestyles, rapid urbanization, digitalization, and advancements in technology are some of key factors driving the global OLED display market. Consumers are more likely to invest on premium electronic products. Key market contributors of OLED display are focused on the design of cost-effective products to attract more customers. The increasing sales of smart electronic products boosts the global OLED display market. Rising popularity of online distribution channels also creates potential opportunities for market players operating in the global OLED display market during the forecast period. Digital Journal