Global OLED Lighting Panels market will reach 310 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/15

The global market for OLED lighting panels is expected to witness a significant rise over the coming years. The growing demand for commercial and consumer products such as TVs and smartphones will drive the growth of the market. OLED is a flexible, cost-effective, and thin lighting solution. The growing demand for efficient backlighting solution for consumer electronics such as smartphones and TV is expected to drive the market. Rapidly increasing demand for smartphones across the world is likely to fuel the growth of the market. This is mainly due to the development in the smartphone industry and the growing disposable income to purchase the same. In addition, the growing demand for energy efficient and affordable products are also expected to stoke the global OLED lighting panels market.

The mammoth demand for OLEDs will be driven by advantages such as faster response time, higher contrast ratios, more saturated colors, which enhances viewing experience, and wider viewing angles. Its excellent display and lighting capability as compared to incandescent bulbs or fluorescent tubes is projected to bode well for the global market.

The report states that the global market was worth US$71 mn in 2018 and is likely to grow at US$ 310 mn by 2025. The market will register with a robust CAGR of 23.3% throughout the projected period of 2014-2025.

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https://www.qyresearch.com/index/detail/1076296/global-oled-lighting-panels-market
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