OLED Statistics By Display, Region, Market Size and Growth

Introduction

OLED Statistics: Organic Light-Emitting Diode (OLED) technology has experienced significant growth, becoming integral to devices such as smartphones, televisions, wearable gadgets, and automotive displays. In 2024, the global OLED market was valued at USD 56.37 billion and is projected to reach approximately USD 344.58 billion by 2034, reflecting a Compound Annual Growth Rate (CAGR) of 19.85% over the forecast period.

The Asia Pacific region has emerged as a dominant force in the OLED market, driven by the presence of major manufacturers and a robust consumer base. In 2023, this region accounted for a significant share of the global market, with countries like South Korea, Japan, and China leading in production and adoption of OLED technology.

Analyzing the market by product type, the display segment captured over 82% of the revenue share in 2022, underscoring the widespread application of OLED displays across various devices. In terms of technology, Passive-Matrix OLED (PMOLED) held a 28% revenue share in 2022, indicating its substantial role in the market. The consumer electronics sector was a major contributor, accounting for 31% of the market share in 2022, highlighting the extensive use of OLED technology in devices such as smartphones, tablets, and televisions.

The rapid expansion of the OLED market is attributed to continuous technological advancements, increasing consumer demand for high-quality displays, and the versatility of OLED applications across multiple industries. As the market progresses, these factors are expected to drive further growth and innovation in OLED technology.

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• The global OLED market size was valued at USD 56.37 billion in 2024 and is projected to reach USD 344.58 billion by 2034, growing at a CAGR of 19.85% from 2024 to 2034.
• The Asia Pacific OLED market size was USD 13.45 billion in 2024 and is expected to grow to USD 105.32 billion by 2034, with a CAGR of 20% from 2024 to 2034.
• The display segment captured over 82% of revenue share in 2022 and dominated the market with the highest revenue share in 2023.
• The lighting segment held a market share of 18% in 2023 and is anticipated to grow at a remarkable CAGR during 2023 to 2032.
• Passive-Matrix OLED (PMOLED) technology accounted for 28% of the revenue share in 2022.
• The consumer electronics segment contributed 31% of the market share in 2022.
• Samsung Electronics announced a USD 3.14 billion investment in April 2023 to develop advanced OLED display panels for tablets and computers by 2026 in Asan, South Korea.

Facts About Display Technology

• Consumers use a variety of devices daily, including smartphones, PCs, and TVs, all relying on display technology.
• Display technologies like OLED, AMOLED, and QLED are replacing older technologies such as LCD.
• Manufacturers continually innovate to improve display technologies for new devices like VR headsets and foldable smartphones.
• Cathode-ray tube (CRT) technology dominated the display market until the late 20th century.
• LCD technology became prominent due to its superior picture quality, size, and power efficiency compared to CRT.
• In 2023, BOE was the leading smartphone display vendor, shipping approximately 560 million panels.
• Other manufacturers like SDC, Tianma, and HKC also contributed to global smartphone display shipments.
• OLED displays are widely used in high-end smartphones, including the iPhone 15 models, and many smartwatches.
• OLED technology is essential for creating flexible and foldable displays for devices like Samsung Galaxy Fold and Google Pixel Fold.
• Foldable smartphones are expected to ship over 25 million units in 2024, boosting the foldable OLED display market.
• Display technologies like OLED, AMOLED, and QLED will dominate the market in the coming years.
• Rising smartphone penetration and an increasing number of TV viewers worldwide drive demand for innovative displays.
• The display market continues to grow as new consumer electronics require advanced and efficient display solutions.
• Manufacturers are actively developing technologies to support new device categories and maintain market growth.

General OLED Display Statistics

• The contribution from smartphones to the OLED market in 2023 was USD 19.1 billion, representing 50% of the market share.
• Televisions contributed USD 9.6 billion, accounting for 25% of the market in 2023.
• Automotive displays, wearables, and other sectors collectively contributed USD 9.5 billion in 2023.
• The smartphone segment is expected to grow to USD 27.5 billion by 2026, maintaining a 45-50% market share.
• In 2023, 900 million consumer electronics units featuring OLED were sold, a 15% increase from 780 million units sold in 2022.
• By 2026, consumer electronics unit sales are projected to reach 1.1 billion, with the average selling price increasing from USD 500 in 2023 to USD 550.
• OLED televisions sold 8 million units in 2023, with projections to reach 12 million units by 2026.
• The average selling price of OLED TVs is expected to decrease from USD 1,200 in 2023 to USD 1,000 by 2026.
• Automotive display revenue in 2023 was USD 5.7 billion and is projected to grow to USD 8.2 billion by 2026, with an annual growth rate of 13%.
• Flexible and foldable displays generated USD 7.5 billion in revenue in 2023, accounting for 20% of the market, with an expected growth to USD 13.1 billion by 2026 at a 15% CAGR.
• Energy-efficient OLED displays contributed USD 6.9 billion in revenue in 2023, representing 18% of the market, and are projected to grow to USD 10.8 billion by 2026.

OLED Market Size Forecast

(Source: Precedence Research)

• The global OLED market size was USD 56.37 billion in 2024 and is expected to reach USD 344.58 billion by 2034, growing at a CAGR of 19.85% from 2024 to 2034.
• The global OLED market size is projected to reach approximately USD 68 billion in 2025, USD 82 billion in 2026, USD 100 billion in 2027, USD 121 billion in 2028, USD 146 billion in 2029, USD 177 billion in 2030, and USD 260 billion in 2032.
• Asia Pacific leads the OLED market, supported by strong manufacturing and high consumer demand.
• The display segment captured over 82% of the revenue share in 2022 and continues to dominate the market.
• The PMOLED segment accounted for 28% of revenue in 2022, showing its importance in the OLED technology market.
• The consumer electronics sector contributed 31% of the market share in 2022, driven by smartphones and televisions.
• The lighting segment held 18% of the market share in 2023 and is expected to grow significantly during the forecast period from 2024 to 2032.

OLED Smartphone Display Revenue

• In 2021, the OLED smartphone display market revenue reached USD 33 billion.
• By 2023, this revenue is expected to decrease by USD 2 billion.
• The forecast indicates a decline in revenue for the OLED smartphone display market between 2021 and 2023.

Plastic and Flexible Display Revenue

• The global plastic and flexible OLED display market size is projected across various segments for 2016, 2018, and 2020.
• Mobile phones are forecasted to generate USD 10.6 billion in revenue in 2018.
• Market trends indicate strong growth in mobile phone adoption as a key segment for flexible OLED displays.
• The overall revenue growth reflects increasing demand across multiple industries.

Quarterly OLED Display Panel Revenue

• South Korean companies dominated the OLED display panel market in 2018.
• They accounted for more than 97% of global market revenue.
• In Q2 2018, South Korea generated USD 6.28 billion in revenue.
• Other countries contributed less than 3% to the global OLED market.
• South Korea maintained its lead in OLED manufacturing throughout 2018.

OLED Display Sales Revenue

• Global OLED display market revenue was USD 22.6 billion in 2017.
• Revenue increased to USD 28.6 billion in 2018.
• The market reached an estimated USD 32.2 billion in revenue by the end of 2019.
• Sales growth from 2017 to 2019 demonstrated a steady upward trend.
• The market experienced significant growth during this period, driven by increased adoption in consumer electronics.

South Korean Display Manufacturers

• In 2023, South Korean display manufacturers held a 33% share in the global market.
• The market share has been declining since 2016, reaching its lowest points in 2021 and 2023.
• South Korean companies had their highest global market share in 2012, accounting for over 50% of the market.
• Display panels are widely used in electronic products, including TV screens and automotive instrument clusters.
• The number of display panel shipments has increased significantly in recent years.
• Expenditure on display panel equipment is forecast to decrease in the future, despite growing current demand.
• LG Display and Samsung Display are key players in South Korea’s display industry.
• Samsung Display’s market share has been increasing in recent years.
• LG Display’s market share has been decreasing but its automotive display products are in growing demand.

Foldable OLED Shipment Forecast

• Foldable OLED display shipments are forecasted to grow at a rate of 7.4% from 2022 to 2027.
• In 2022, approximately 19 million foldable OLED displays were shipped.
• By 2027, foldable OLED shipments are expected to reach 90 million units.
• The market shows significant growth potential due to increasing demand for flexible display technology.

OLED Display Panel Shipments by Application

• In 2020, OLED smartphone panels were projected to reach a shipment area of 5.8 million square meters.
• OLED TV panels in 2020 were expected to account for 4.4 million square meters of shipment area.
• Between 2016 and 2020, OLED panel shipments experienced steady growth globally.
• Smartphone panels dominated the shipment area during this period.
• TV panels showed consistent growth, driven by increasing demand for larger screens.
• The global shipment area for OLED panels was led by consumer electronics applications.

OLED Market Share By Region

• The Asia Pacific OLED market is valued at USD 13.45 billion in 2024, holding 35% of the market share. It is forecasted to reach USD 105.32 billion by 2034, growing at a CAGR of 20%.
• The North American OLED market is valued at USD 10.76 billion in 2024, capturing 28% of the market share.
• The European OLED market is worth USD 9.99 billion in 2024, with a 26% market share.
• The Latin American OLED market stands at USD 2.69 billion in 2024, accounting for 7% of the market share.
• The Middle East and Africa OLED market is valued at USD 1.54 billion in 2024, holding 4% of the market share.

Asia Pacific OLED Market

(Source: Precedence Research)

• The Asia Pacific OLED market size is valued at USD 13.45 billion in 2024 and is expected to reach USD 105.32 billion by 2034, growing at a CAGR of 20% from 2024 to 2034.
• The region dominated the global OLED market in 2023 and is projected to maintain its leading position during the forecast period.
• Countries like India and China serve as manufacturing hubs for electronic devices, driving demand for innovative OLED displays.
• Increasing adoption and production of advanced electronic devices in the region are boosting OLED market growth.
• Samsung and LG are actively increasing OLED production to meet growing demand.
• In April 2023, Samsung announced a USD 3.14 billion investment to develop advanced OLED panels for tablets and computers by 2026 in Asan, South Korea.
• The Asia Pacific OLED market size is projected at USD 29 billion in 2026, USD 42.43 billion in 2028, USD 62.23 billion in 2030, and USD 91.26 billion in 2032.

Recycling and End-of-Life Management

• The OLED industry is focusing on improving the recyclability of its products.
• In 2023, 30% of OLED displays were designed with components that are easier to recycle, up from 25% in 2022.
• This is part of a broader initiative to manage the end-of-life impact of electronic devices, deduct the amount of waste that ends up in landfills, and support the industry’s sustainability efforts.

(Source: link.springer.com)

• The environmental impact and sustainability of OLED display statistics reveal significant strides in reducing the technology’s ecological footprint.
• In 2023, OLED displays achieved a 15% reduction in energy consumption compared to traditional LCDs, while material waste in manufacturing was cut by 10%.
• The industry also saw a 20% increase in the use of sustainable, non-toxic materials, contributing to a 19% reduction in the overall carbon footprint of OLED displays.
• Additionally, efforts to improve product longevity and recyclability have led to a 20% increase in display lifespan and a 30% recyclability rate, underscoring the industry’s commitment to sustainability and environmental responsibility.

Conclusion

OLED display statistics underscore the rapid growth and widespread adoption of OLED technology across various industries, driven by its superior image quality, flexibility, and energy efficiency. The market, valued at $38.2 billion in 2023, is projected to exceed $ 65 billion by 2026, with significant contributions from smartphones, televisions, and emerging applications like foldable and transparent displays.

Technological advancements, particularly in flexible and energy-efficient designs, will continue to fuel this expansion. Moreover, the industry’s increasing focus on sustainability, with a projected 35% of OLED displays being made from environmentally friendly materials by 2026, highlights its commitment to reducing environmental impact.

These trends indicate that OLED technology is set to play a pivotal role in the future of display solutions, making OLED display statistics an essential tool for understanding market dynamics.

Joseph D'Souza

Joseph D'Souza founded ElectroIQ in 2010 as a personal project to share his insights and experiences with tech gadgets. Over time, it has grown into a well-regarded tech blog, known for its in-depth smartphone reviews and app-related statistics. Joseph is dedicated to providing detailed, well-researched content, including statistics, facts, charts, and graphs, all verified by experts. His goal is to make technological innovations and scientific discoveries easy to understand for everyone. ElectroIQ is now a top source for tech news, appreciated by both tech enthusiasts and beginners.

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