With 18.9% CAGR, Organic Electronics Market Growth to Surpass USD 142.1 billion

The global organic electronics market is projected to grow from USD 59.9 billion in 2023 to USD 142.1 billion by 2028, registering a CAGR of 18.9% during the forecast period. Increasing demand for organic electronic devices such as OLED displays, solar cells, and transistors fuels the market's growth. These devices offer advantages such as high contrast, flexibility, and energy efficiency, making them highly desirable for a range of applications. The consumer electronics industry has been a significant driver of this growth, as organic electronic devices find applications in smartphones, televisions, wearable devices, and smart gadgets. Additionally, the automotive industry is adopting organic electronics to enhance interior aesthetics, improve energy efficiency, and integrate customizable lighting systems.

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The healthcare segment is the second-largest end user for the organic electronics market, primarily fuelled by the increasing demand for organic electronic devices, particularly organic light-emitting diodes (OLEDs), in medical applications. OLEDs are being increasingly adopted in medical devices such as surgical lights and patient monitoring systems. The advanced lighting capabilities of OLEDs enhance visualization during surgical procedures, enabling surgeons to perform with greater precision and accuracy. Additionally, OLED displays are utilized in patient monitoring systems, offering clear and vibrant visual feedback for healthcare professionals. The need for improved patient outcomes, enhanced healthcare efficiency, and the advantages of OLED technology, including high color accuracy and low power consumption, drive the demand for OLED-based medical devices. As a result, the healthcare segment is experiencing growth with the increasing adoption of organic electronic devices in medical settings.

The OLED display subsegment is anticipated to capture the largest share of the organic electronics market during the forecast period. OLED displays have gained immense popularity due to their numerous advantages, such as high contrast ratio, wide viewing angles, fast response time, and thin form factor. These displays are extensively used in various consumer electronics devices, including smartphones, televisions, smartwatches, and tablets, driving their significant market share. Additionally, advancements in OLED technology, such as the development of flexible and transparent OLED displays, further contribute to the dominance of the OLED display subsegment in the organic electronics market. The growing demand for visually appealing and energy-efficient displays across industries is expected to fuel the market share of OLED displays in the organic electronics market.

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During the forecast period, China is expected to exhibit a significant growth rate in the organic electronics market. China's robust manufacturing capabilities and large consumer base for electronic devices position it as a key player in this industry. Additionally, the Chinese government's support and investments in the organic electronic sector further contribute to China's potential for substantial growth. As a result, China is likely to record significant advancements in organic electronic devices, including OLED displays, organic solar cells, and organic transistors, solidifying its position as a leading market for organic electronics.

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This release was published on openPR.