The advancements in display technologies and their wide-scale adoption have fueled demand for LEDs and OLEDs. In a report circulated by Market Research Future (MRFR), it has been revealed that the global Covid-19 Impact on LED and OLED Display Market is estimated to earn revenues worth $121 Billion by 2023.
In addition, the repo also unfolds that the global market is expected to register expansion at a CAGR of 24% during the review period 2018 to 2023.
The advantages of these display technologies, such as durability, affordability, energy efficiency, etc., are likely to drive the expansion of the market in the upcoming years.
OLEDs are gaining popularity for computer and smartphone screens. Increasing demand for smartphones, laptops, and desktops is expected to boost the expansion pace of the Covid-19 Impact on LED and OLED Display Market in the nearby future. In addition, the rising demand for LED from the consumer electronics industry is further likely to uplift the status of the global market in the forthcoming years.
The adoption of advanced display technologies by the automotive industry leaders is also anticipated to expedite the growth process of the Covid-19 Impact on LED and OLED Display Market during the forecast period.
The product is also poised to observe rising commercial and residential applications over the next couple of years. Also, the schemes launched by the governments promoting the adoption of energy-efficient display technologies are likely to influence the Covid-19 Impact on LED and OLED Display Market positively. On the other hand, the complex manufacturing process remains an impediment to the growth of the global market.
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Type-based segments of the Covid-19 Impact on LED and OLED Display Market are passive-matrix OLED (PMOLED), organic LED (OLED), active-matrix OLED (AMOLED), inorganic OLED, and high brightness LED.
Based on display type, the global LED, and OLED display market has been segmented into flat panel display, flexible display, and transparent panel display.
On the basis of display size, the Covid-19 Impact on LED and OLED Display Market have been segmented into 20”, 20”-50”, and 50” above.
End-user segments of the LED and OLED market identified in this report are media & entertainment, commercial, consumer electronics, automotive, healthcare, education, enterprise, industrial, and others.
The regional segments of the global Covid-19 Impact on LED and OLED Display Market profiled in this MRFR report – North America, Asia Pacific (APAC), Europe, and the Rest of the world (RoW). North America is observing a shift towards LED and OLED display techniques.
It is expected to support the expansion of the market in the region. In addition, the rising demand for energy-efficient technologies is another major driving factor of the Covid-19 Impact on LED and OLED Display Market expected to expedite growth rate in the upcoming years. Europe and Asia Pacific are two key regions that are poised to earn considerable revenues in the foreseeable future.
Corning (U.S.), LG Electronics Inc. (South Korea), OSRAM GmbH (Germany), Panasonic Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Philips Electronics (Netherlands), Sony Corporation (Japan), Microchip Technologies (U.S.), and Universal Display Corporation (U.S.) are some of the important participants of the global Covid-19 Impact on LED and OLED Display Market.
BOE Technology Group Co., Ltd. (China), AU Optronics Corp. (Taiwan), Shenzhen China Star Optoelectronics Technology Co., Ltd. (China), Futaba Corporation (Japan), Dresden Microdisplay GmbH (Germany), Chunghwa Picture Tubes, LTD. (Taiwan), eMagin, Inc. (U.S.), Fraunhofer-Gesellschaft (Germany), EverDisplay Optronics (Shanghai) Limited (China), and Newvision Corporation (China) are the other players that constitute a considerable fraction of the market.