According to Goldstein Research, “Rising urbanization and technological advancements in display screens is increasing the consumer’s interest towards OLED TVs.” OLED TV market is at nascent stage and the technology is gaining momentum as new technological advances and declining prices will keep consumers investing in new generation products.
The global OLED TV market is segmented based on technology and by end-users. Technology is further bifurcated into AMOLED and PMOLED. In 2016, AMOLED technology accounted for 70 percent of global OLED TV market. AMOLED market is dominated by Samsung and LG display and it is estimated that over 310 million AMOLED panels will be produced in 2017.
The global OLED TV market is anticipated to reach USD 4.2 billion by the end of 2024, expanding at a compound annual growth rate of 23.1% over the forecast period i.e. 2016-2024. The global OLED TV market accounted for over USD 22.1 billion in 2016, overall current scenerio of the market predicts robust growth in the upcoming future.
Asia-Pacific is the fastest growing region for OLED TV market and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific OLED TV market valued USD 1.2 billion in 2016 and is estimated to reach USD 6.3 billion by 2024. China is expected to dominate the OLED TV market followed by South Korea and Japan due to presence of large OLED TV manufacturers in these countries. China's OLED is expected to grow very fast, at a CAGR of 110% over the forecast period and Chinese OLED TV manufacturers will increase their AMOLED market share from 4% in 2016 to 34% in 2024.
Product Innovation and Advantages over LCD Panels, Driving OLED TV Market
OLED TVs are rapidly joining the mainstream as OLED manufacturers refine their products to add new features and make them easier to use. Advantages of OLED panels over older technologies are the major factor attracting new consumers as they offer sharp image quality, better refresh rate and superior contrast rate when compared to LCD and LED displays. Manufacturers are emerging with new technology and spending huge amounts over R&D of OLED technology to attract more customers. LG display recently developed a 77" flexible and transparent OLED display which features 4K/UHD, a 80mm radius of curvature and 40% transparency.
“Global OLED TV Market Outlook 2024” contains detailed overview of the global OLED TV market in terms of market segmentation by technology type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global OLED TV Market report also provides competitive outlook of some of the major players which includes profiling of companies such as LG Electronics, Samsung Electronics, Haier Group, Konka group, Panasonic, Sichuan Changhong Electric, Sony, Hitachi etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global OLED TV market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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