OLED is a light-emitting diode. An organic compound, that is situated between two electrodes, emits light in response to an electric current. Digital displays – TV screens, computer monitors, smartphones, etc. use OLEDs. The development of white OLED devices are of particular interest when it comes to research.
OLED is a new technology for efficient, bright, flexible, thin displays, and lighting panels. The global OLED market was valued at USD 16.58 Billion in 2016 and is expected to reach USD 48.81 Billion by 2023, at CAGR of 15.2% between 2017 and 2023. The key factors of driving the growth of market include the rapid adoption of OLED displays in smartphones and the growing investments in technology and manufacturing facilities.
Displays accounted for more than 99% of the total market in 2016. Smartphones accounted fort he highest share of 83.5% of the display market in 2016. The trend is expected to continue between through 2023.
There are many benefits offered by OLED displays such as energy-efficency, sunlight readability, and easier recycling process.
Televisions are likely to account for the second-largest share of the display market by 2023.