Market Research Future (MRFR) asserts that by the end of 2023, the global LED and OLED display market 2020 can touch a tremendous valuation of 121 billion. The market can also expect to procure a CAGR of 24% between 2017 and 2023 (assessment period). We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
The lockdown following the COVID-19 outbreak has led to an economic crisis that has hit various industries. While many business sectors have borne the brunt of the pandemic, the semiconductor industry has been the most impacted. Post the SARS-CoV-2 outbreak, various companies were faced with tough decisions, in terms of finance and cost-cutting measures to ensure uninterrupted flow of operations. The lockdown situation has been the short term impact that the novel coronavirus, affecting the manufacturing sectors and resulting in a plummeting demand among consumer electronics providers. The weak demand has had a domino effect throughout the semiconductor industry, with the drop in the prices. The COVID-19 outbreak and the resultant lockdown has led to shutting down of operations, as well as the e-commerce and retail stores, making the supply chains weak and creating a larger gap between supply and demand.
However, despite the COVID-19 impact on the market, the escalating applications of for LED and OLED display in consumer electronics, automotive, enterprise, healthcare, media & entertainment, and education can fortify the market position throughout the review period.
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Growth Inducers and Key Deterrents
The report focuses on the long-term impact of COVID-19, with governments everywhere doing everything they can to deal with the current situation. They are implementing favorable initiatives and policies including lower interest rate, exceptions in tax and financial packages. While countries are struggling to find a COVID-19 breakthrough, the LED and OLED display market can expect to gain impetus in the near future on account of the soaring demand for flexible display products.
Escalating use of LED and OLED displays in outdoor promotions and advertisements can be a critical growth booster in the global market. Appealing features such as environment friendly, energy efficiency, high durability and low operational cost lead to higher use of these displays among advertisers and marketers for promotional campaigns as well as advertisements. The surge in live concerts, corporate exhibitions and sport competitions also boosts the market growth speed worldwide.
The LED & OLED display market’s rapid growth can also be attributed to the mounting focus of end-users on energy conservation. With the rising penetration of LED and OLED technology in backlights of laptops, monitors and TVs, the market is observing higher investments by leading global manufacturers. Sensing the significant opportunities in the industry, more and more new vendors are gaining entry into the market, with more number of players expected to enter in the years ahead.
LED and OLED display industry has been considered for type, display type, display size, and end user.
The types covered in the study are active-matrix OLED (AMOLED), passive-matrix OLED (PMOLED), inorganic OLED, high brightness LED and organic LED (OLED).
The types of displays considered in the report are flat panel display, transparent panel display as well as flexible display.
Display size-wise market categories are up to 20”, 20”-50”, and 50” above.
The primary end users in the industry include media & entertainment, healthcare, automotive, education, consumer electronics, enterprise, industrial, commercial, and others.
The geographical dissection of the LED & OLED display market has been conducted for North America, APAC or Asia Pacific, Europe, and RoW or rest of the world.
The widespread uptake of LED and OLED displays in the consumer electronic industry has led to North America’s dominance in the global market. With widely recognized companies present in the region, frequent technical advancements and the consequent fall in the prices of LED and OLED displays also benefit the regional market to a large extent.
Increasing use of smartphones, tablets and other consumer electric products in Taiwan and China induces the growth of the LED & OLED display market in APAC. The infrastructural improvement along with the mounting number of sport events, especially in India also adds to the market strength in the region.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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