The global market for PMOLEDs was valued at USD 1.8 billion in 2018; it is expected to reach USD 6.3 billion by the end of the forecast period at a CAGR of 19.7%. The trend of PMOLED is gaining popularity and companies are continuously focusing on developing technologies for various commercial and industrial applications of these displays. Increase in the usage of hand-held devices and the growing use of wearable devices in the form of fitness bands that use PMOLED displays is expected to drive the market during the forecast period.
According to Market Research Future, the global PMOLED market has been segmented based on type, end user, application, and region.
PMOLED consists of organic layers, cathode, and anode strips. In PMOLED displays, anode strips are arranged perpendicular to cathode strips. The interaction of anode and cathode make up the pixels which emit the light. The production cost of PMOLEDs is low, however, they consume more power than any the type of OLEDs which require an external circuit. PMOLEDs are efficient for text and icons and best suited for small screen applications such as smartphones, MP3 players, and other electronic devices.
The global PMOLED market has been segmented on the basis of type, end user, application, and region.
By type, the PMOLED market has been segmented into transparent PMOLED and flexible PMOLED. Flexible PMOLED is expected to dominate the market during the forecast period. Moreover, transparent PMOLEDs are currently in the development phase and hence expected to grow at faster rate during the forecast period. A flexible PMOLED is based on flexible material which can be either metal, flexible glass, or plastic. Plastics and metal are lighter, thinner, and more durable than flexible glass. While flexible PMOLED displays are the best suited for the next-generation smartphone market. Flexible PMOLED provides very high contrast ratio, faster refresh rates, and wide viewing angles. Transparent PMOLEDs are mainly used to provide videos, 4K videos, computer images, and all the interactive information on transparent glass and other transparent surfaces. WiseChip Semiconductor Inc., a leading innovator of PMOLEDs, developed a transparent OLED display which offers high transparency, high contrast ratio, with a low response time.
By end user, the PMOLED market has been segmented into residential, commercial, and industrial. The industrial segment is expected to dominate the PMOLED market during the forecast period. Moreover, the residential segment is expected to grow at faster rate during the forecast period.
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The key players in the PMOLED market are US Micro Products (US), Visionox (China), Sony Corporation (Japan), Panasonic Corporation. (Japan), Samsung Electronics (South Korea), Apple Inc (US), Accelopment AG (Switzerland), Raystar Optronics Inc (Taiwan), Japan Display (Japan), LG Display (South Korea), WiseChip Semiconductor Inc.(Taiwan), and Sharp Corporation (Japan) among others.
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