The LED (light-emitting diode) is a distinct type of diode that provides energy-efficient lighting solution. It is rapidly developing lighting technology that is being used in a wide range of gadgets. The growing demand for end-use devices is expected to spike the growth of the global LED & OLED displays and lighting products market during the forecast period.
In 2018, the global LED & OLED displays and lighting products market size was worth US$ 59943.2 mn and it is expected to reach US$95936.1 mn in 2025, expanding at a CAGR of 6.95% from 2018 to 2025. QY Research has published its latest report, titled “Global LED & OLED Displays and Lighting Products Market Insights, Forecast to 2025”, to help the client with the details of the market and to help to understand the future prospects of it.
Global LED & OLED Displays and Lighting Products Market: Drivers and Restraints
Cost efficiency and low power consumption are the major factors expected to drive the LED & OLED displays and lighting products market. The enhanced picture quality is another aspect that has supported the rise of the LED & OLED displays and lighting products’ demand. OLED displays can be used as a transparent screens, which can serve as a mobile screen as well as a computer/laptop screens. These displays can also be implemented as car windshields for navigating while driving. Moreover, the growing demand for eco-friendly products may act as a major growth opportunity for this industry. Durability and being light in weight are propelling the demand for OLED & OLED displays and lighting products.
The LED & OLED displays and lighting products have some limitations as well. Shortcomings such as technological limitations and lack of awareness for energy-efficient products are holding back the expansion of the market.
Global LED & OLED Displays and Lighting Products Market: Segment Analysis
The global LED & OLED displays and lighting products market is segmented by type and application. In terms of type, the market is segmented into OLED display, LED display, OLED lighting products, and LED lighting products. In terms of application, the market is segmented as outdoor display and lighting, indoor display and lighting, electronic consumer goods and others.
Global LED & OLED Displays and Lighting Products Market: Regional Analysis
On the basis of region, the global LED & OLED displays and lighting products market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East and Africa. Asia Pacific is dominating the global market due to strong presence of key players the region. The increased usage of technological devices and rapid growth of disposable income are working as benefactors for the Asia Pacific LED & OLED displays and lighting products market. North America and Europe are also expected to do well in the overall market in the coming years.
Global LED & OLED Displays and Lighting Products Market: The Key Players
The key players studied in the global LED & OLED displays and lighting products market are Leyard, Liantronics, Daktronics, Absen, Unilumin, Lighthouse, Barco, Sansitech, Yaham, Osram, Ledman, Philips, Eaton, GE Lighting, Opple, Yankon Lighting, Acuity Brands, Cree, NVC Lighting, Panasonic, Luceco, Toshiba, Samsung, LG Display, Japan Display, LG Display (OLED Lighting), Sharp, Sumitomo Chem, OLEDWorks, First-O-Lite, and Konica.
The Society for Information Display (SID) has chosen Samsung and Sony's microLED displays along with the OLED display in Apple Watch Series 4 as its 'Display of the Year' winners. The winners of SID's 25th annual industry award have been announced and will formally be honored on May 15, 2019, during the Display Week conference in San Jose, California. Such accolades are expected to boost the sales of the companies.