DUBLIN--(BUSINESS WIRE)--The "Global OLED Panel Market - Segmented by Type (Flexible, Rigid, Transparent), Size, Products, Display Address Schemes, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The OLED panel market is expected to grow at a CAGR of 15.44% over the forecast period (2018-2023).
South Korea, despite its small size, has by far the most extensive network of academic R&D in OLED technology. The country has seen huge investments, primarily from the electronics giants, Samsung and LG. Samsung has been investing an average of USD 5 billion per year for the development of OLED technology, and LG in the past announced of plans to invest about USD 8.4 billion over the next few years for the development of future displays, such as OLED, flexible, and high-end screens. The conglomerate is aggressively competing to dominate the market.
Although manufacturing of OLED is more expensive and complex than LCD TVs, the manufacturing experience that these giants gain for displays will be of huge value for the overall cost reduction of OLED products. Along with this, the government of South Korea is encouraging the development of OLED supply chain and is contributing to support the universities and research institutes. Even the governments of Japan, Taiwan, and US are encouraging OLED research. Department of Energy (DOE) received approximately USD 25.8 million from Congress last year, which was used for product development, core technology, and manufacturing of OLEDs.
Key Developments in the Market
- February 2018 - Universal Display Corporation, announced the signing of long-term OLED material supply and license agreements with Samsung Display Co. Ltd (SDC). These agreements affirm that Universal Display will continue to supply its proprietary Universal PHOLED phosphorescent OLED materials and technology to Samsung Display for use in its OLED displays. The agreement is scheduled to end until December 31, 2022, and may be extended for an additional two-year period.
- February 2018 - Universal Display Corporation announced an OLED evaluation agreement with Kunshan Govisionox Optoelectronics Co. Ltd. Under this agreement, Universal Display (UDC) will supply Govisionox (GVO) with its proprietary UniversalPHOLED phosphorescent OLED materials for display applications.
- December 2017 - Universal Display Corporation announced the signing of long-term OLED Agreements with BOE Technology Group Co. Ltd. Under the agreements, UDC is to supply phosphorescent OLED materials to BOE Technology.
- LG Display Co. Ltd
- Samsung Electronics Co. Ltd
- AU Optronics Corp.
- Innolux Corporation
- Sharp Corporation
- BOE Technology Group Co. Ltd
- Japan Display Inc.
- Hannstar Display Corporation
- Panasonic Corporation
- Chunghwa Picture Tubes Ltd.
- Acuity Brands Lighting Inc.
- Koninklijke Philips N.V.
- Osram Licht AG.
- Pioneer Corporation
- Universal Display Corporation
- Ritek Corporation
Key Topics Covered
2. Executive Summary
3. Market Insights
4. Market Dynamics
5. Global OLED Panel Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future Outlook of OLED Panel Market
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