LONDON, July 18, 2023 /PRNewswire/ -- New research from Omdia's Display long-term demand forecast tracker indicates that area demand for OLED displays will grow by 11.0% compound annual growth rate(CAGR) from 2022 to 2030. Major brands are gradually adopting OLED panels in their premium lineups across TVs and mobile phone and the wider consumer electronic range such as notebooks and tablets.
As demand for display dropped in 2022 and 2023 following the impact of COVID-19, so did the demand for OLED. However, these changes in market conditions led to OLED, which was previously only utilized in premium phones, also being used in entry-level models. According to Omdia, OLED market share in the smartphone display market increased rapidly from 30% in 2020 to 42% in 2022, with its share is expected to rise steadily in the future.
Sales of OLED TVs were also relatively sluggish due to a sharp drop in LCD prices, but as Samsung Electronics' strategy to expand OLED sales and adoption of WOLEDs has now become a foregone fact, the OLED TV market is expected to grow after 2024.
According to Ricky Park, Senior Principal Analyst in Omdia's Display research practice, "From 2024, Apple will adopt OLED in iPad Pro models in earnest, and as a result, we anticipate demand for OLED panels for mobile PCs will increase rapidly. In an optimistic scenario where Apple actively adopts OLED and its rivals follow suit, mobile PC OLED panel demand on an area basis is forecasted to grow at a 34% CAGR."
Recently, the possibility of OLED being adopted beyond the tablet market but also in laptops is increasing. Samsung Display has decided to build a dedicated production line, G8.6 fab, to achieve optimal OLED image quality against reasonable production costs.
In a situation where the growth of mobile phones and OLED TVs is slowing down, OLED for mobile PCs is emerging as a new market for display makers.
ABOUT OMDIA
Omdia, part of Informa Tech, is a technology research and advisory group. Our deep knowledge of tech markets combined with our actionable insights empower organizations to make smart growth decisions.
Fasiha Khan fasiha.khan@omdia.com
