Modernization of lifestyles and increasing availability of technologically advanced products are resulting in increased demand for the OLED lightening panels. The consumers of lightening solutions including households, corporate areas, and other private infrastructures are becoming more adaptive to such new innovative lights nowadays.
Organic lightening is emerging as a new trend in the lightening industry from the past few years. With the increasing popularity of the organic materials industries are focusing on manufacturing products which are organic.
OLED lightening panels is a light emitting panels used for a various lightening purpose. Demand for OLED is expected to increase over the forecast period as it is used for making an attractive and efficient display also for making large format lighting panels. The popularity of OLED lightening panels is increasing due to its attractive looks as come in the form of thin films that emits light.
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OLED stands for Organic Light Emitting Diodes. The OLED’s are manufactured using organic materials which emits light after applying electricity. The organic products used in OLED are carbon-based materials.
Global OLED Lightening Panels Market: Drivers and Restraints
The application of OLED lights for creating large area lightening panels is rapidly increasing as OLED delivers a better light than LEDs and fluorescent lights and this factor in one the prime factor responsible for the growth of OLED market. Flexible nature of OLED panels and its eye-catching designs are expected to create increasing demand for OLED from the corporate as well as commercial infrastructures and this other factor driving the growth of the OLED market.
In addition to this, the increasing adoption of healthier lights in the developed countries such as U.S., Canada, U.K., Taiwan, and others are driving the growth of the OLED market.
Considering the mentioned factors the OLED Lightening Panels market is expected to grow considerably over the forecast period. Currently, only a few manufacturers are present in the market which are producing OLED in large volume which results in the higher prices of OLEDs, and this is one of the major challenges for the OLED market.
Segmentation Based on Vertical
OLED lightening panels are used in different verticals. The segmentation on the basis of verticals includes residential, industrial, and others.
Segmentation Based on Panel Type
OLED lightening panels are available in two types based on their material nature. The segmentation is performed on the basis of panel type as flexible and rigid.
Segmentation Based on Region
On the basis of region, the global OLED Lightening Panels market is segmented into North America, Latin America, Western Europe, Eastern Europe, the South East Asia and Others of Asia Pacific, Japan, China, and Middle East & Africa.
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Global OLED Lightening Panels Market: Key Players
Examples of some of the key players in the global OLED Lightening Panels market include Koninklijke Philips N.V., Osram Opto Semiconductors, LG Electronics Inc., KONICA MINOLTA, INC., OLEDWorks, Zhejiang Huadisplay Optoelectronics Co., Ltd., Guangdong Lonon Industry Co., Ltd., Summit Electronic Technology (Kunshan) Co., Ltd., and others. OLED lightening panel’s manufacturers are continuously focusing on product innovations to sustain in the increasing global competition from the dominant players in this market. The manufacturers of OLED lightening panels are also more focused on increasing the production capacity so that they are able to increase sale and reach an untapped market.
Global OLED Lightening Panels Market: Trends
One of the major trend observed in OLED lightening panel market is increasing funding for research and development. This funding is delivered by government organizations as well as leading manufacturers carry out their research under product innovation segments. The funding is offered for creating more advanced and efficient OLED lights.
For instance, in April 2018, the U.S. Department of Energy (DOE) offered a $15 million funding for research. This funding is being provided for the development of light-emitting diode (LED) and organic light-emitting diode (OLED) products. The research and development in OLED lightening panels and also for reducing lighting energy costs.
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Global OLED Lightening Panels Market: Region Wise Outlook
North America holds a significant market share regarding revenue generation from the sale of OLED lightening panels, due to the rapid adoption of OLED lightening panels in this region by corporate and commercial areas in this region. European countries are increasingly adopting OLED lightening panels for improving the appearance and maintaining an organic nature for the lightning.
The SEA and Other APAC region is expected to grow at a high CAGR over the forecast period, due to the increased production of OLED lightening panels in this region resulting into increasing adoption for OLED lightening panels. MEA is expected to grow at moderate CAGR, due to the slow adoption rate of the OLED lightening panels.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
Global OLED Lightening Panels Market: Segmentation
The global OLED lightening panels market is segmented on the basis of vertical, panel type, and region.
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