OLED/AMOLED displays

History

2023

Sales of flexible OLED displays in the world for the year increased by 12% to $8.16 billion

In 2023, the global market for flexible displays with organic LEDs (OLEDs) reached $8.16 billion. A year earlier, sales of such products were estimated at $7.29 billion. Shipments in monetary terms rose by 12%, as stated in the Market Research Future review, presented at the end of October 2024.

One of the main growth factors in the industry under consideration is the increasing demand for flexible OLED panels in the consumer electronics segment. Such screens are used in smartphones, various wearable gadgets, smart home devices, etc. Significant demand is also observed in the field of automotive on-board equipment. Technological advances to improve image quality and energy efficiency are further driving the market.

In terms of application, the consumer electronics sector led in 2023 with sales of $3.6 billion: the dominance of this area is explained by the growing demand for OLED displays in smartphones, TVs, tablets and other products. Panels for the advertising sphere brought in approximately $1.5 billion. This is followed by the automotive segment with a result of about $1.2 billion. Smart wearables accounted for $0.9 billion, medical equipment - $0.96 billion. The leading players are named:

• BOE Technology Group;
• Samsung Display;
• Sankey;
• China Star Optoelectronics Technology;
• Rohm;
• Universal Display Corporation;
• Dai Nippon Printing;
• FlexEnable;
• Japan Display;
• Visionox;
• IHP;
• LG Display;
• Epson.

Market Research Future analysts believe that in the future, the CAGR in the market under consideration will be 11.93%. Thus, by 2032, sales of flexible OLED displays on a global scale could reach $22.5 billion.^[1]

Samsung and LG's share of the OLED display market fell from 55% to 16%. They are squeezed out by Chinese manufacturers

At the end of 2023, the share of Korean OLED panels in Chinese smartphones decreased to 16%. For comparison, in 2022 this value was 55.6%, and in 2021 - 77.9%. Such figures are given in a study by the Korean Display Industry Association, the results of which were released on April 24, 2024.

In 2015, as noted, the PRC authorities initiated a large-scale program "Made in China 2025." Its goal is to ensure self-sufficiency in key industries. It was planned to bring the share of self-sufficiency to 40% by 2020 and 70% by 2025. It is reported that the program brings positive results. The largest Chinese smartphone suppliers such as Xiaomi, Vivo, Oppo and Honor are equipping their devices with domestic OLED displays. As a result, shipments of Chinese OLED panels increased from 100 million units in 2021 to 139.9 million units in 2022 and to 244.4 million units in 2023.

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In 2022, the medium to large OLED panel market for TVs and IT devices was dominated by Korea with a 96.1% share. However, in the segment of OLED displays with a small diagonal for mobile devices (smartphones, tablets and other gadgets), the Korean indicator was lower - 71.6%, while China occupied 27.6% of the segment. Since then, Chinese manufacturers have increased production volumes, which led to a decrease in shipments of Samsung and LG products to the PRC market.

The Korean Display Industry Association expects the share of OLED products in the global screen market to reach a record level of 36.6% in 2024. This is due to the fact that the use of OLED goes beyond mobile devices and TVs - such panels are increasingly used in automotive infotainment complexes and other equipment.^[2]

2022: Global market leaders named

At the end of 2022, global deliveries of AMOLED displays amounted to approximately 762 million units, which is 6% less than in the previous year. Samsung is the undisputed industry leader. Such data are given in the report of the analytical firm Omdia, published on March 29, 2023.

Panels of 9 inches diagonally or less are taken into consideration. Omdia notes that the demand for such AMOLED screens in 2022 decreased due to decreased sales of smartphones and other gadgets due to macroeconomic challenges, high inflation and market uncertainties.

Samsung display shipments were at 429 million units, but the market share of the South Korean company decreased from 61% in 2021 to 56% in 2022. In second place in the ranking of leading industry players is the Chinese BOE, which managed to increase deliveries on an annualized basis and show a result of about 12%. LG Display closes the top three, strengthening its position from 10% to 11%. The fourth and fifth lines went to Visionox and Everdisplay with shares of 6% and 5%, respectively. Thus, the five named companies control 90% of the global AMOLED panel market.

Analysts say that Korean manufacturers of AMOLED screens maintain a technological advantage, while Chinese suppliers reduce prices and, thanks to this, increase the supply of such panels - primarily for mid-range smartphones manufactured by brands from the PRC. As a result, AMOLED manufacturers from China are able to increase their market share. In particular, the lag behind Samsung is gradually reducing BOE, which benefited from the conclusion of a contract with Apple for the supply of LTPS-AMOLED panels for iPhone 12 devices. In the mid-range smartphone segment, AMOLED screens are increasingly used instead of traditional LCDs (TFT LCDs).^[3]

Notes