Increase in Availability of Technologically Advanced Products Expected to Drive Global OLED Lighting Panel Market: Ken Research

OLED or organic LEDs are special type of flat LEDs, usually made by placing a series of thin organic films between two conductors. These types of diodes usually use organic materials to produce the light. These organic materials are wrapped between conductors that are lit up when electricity flows through them. OLED lighting panels are also used to create the digital displays in electronic appliances including TVs, cell-phones, computer monitors, and gaming consoles. OLEDs are lighter & thinner than LEDs. In addition, OLEDs achieve a high contrast ratio compared to LEDs in poor ambient light, such as in dark rooms.

OLED is available in both rigid and flexible options and offers new ways of integrating light into objects, furniture, lighting fixtures and interior designs. As a surface light source, OLED light-panels have a totally flat and uniform light output without reflections, shadows or UV rays and emit a lot of blue light than non-organic LEDs. These types of light panels are characterized by an extremely thin profile, where the thickness of the panels adds practically no depth to the design. The OLED panels are lightweight & cool running, which makes the light panels touchable and easy to use & install.

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As per analysis, “Global OLED Lighting Panel Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” some of the key companies that are presently operating in the global OLED lighting panel market include Ason Technology, Toshiba, Philips Lighting, Panasonic, First-o-lite, Showa Denko, NEC Lighting, Universal Display, OSRAM Light, Konica Minolta, GE, LG Chem and among others. OLED lighting panel manufacturers are constantly focusing on product innovation to keep up with increasing global competition from dominant players in this market. Manufacturers are also focusing more on increasing production capacity to increase sales and reach an untapped market.

Based on type, OLED lighting panel market is segmented as OLED lighting panel, flexible OLED lighting panel, white OLED lighting panel and transparent OLED lighting panel. As smartphones develop in many large markets such as China, smartphone manufacturers are developing new foldable phone models that include flexible OLED screens and have huge growth potential in the coming years. In addition, based on application, market is segmented as transporting vehicles, houses and others.

Increase in availability of technologically advanced products, followed by modernization of lifestyles and growth in adoption of OLEDs in smartphones are some major factors, which are responsible for growth of the OLED lighting panel market. However, evolution of quantum dot technology & micro LED technology is a major hindering factor for global market.

By regional analysis, the North-America is a leading region in global OLED lighting panel market owing to rapid adoption of OLED lighting panels by corporate and commercial areas across the region. The Asia-Pacific and Europe regions are estimated to exhibit considerable growth rate due to growth in adoption of OLED lightening panels to improve the appearance and maintaining the organic nature for lightning over the forecast period.

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