Market Scope
Market Research Future (MRFR) asserts that by the end of 2023, the global LED and OLED display market 2020 can touch a tremendous valuation of 121 billion. The market can also expect to procure a CAGR of 24% between 2017 and 2023 (assessment period). We will provide covid-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
COVID-19 Analysis
Following the COVID-19 breakout, the country was put on lockdown, resulting in an economic catastrophe that impacted a variety of businesses. While the epidemic has had an influence on numerous industries, the semiconductor industry has been the hardest hit. Following the SARS-CoV-2 outbreak, several businesses were forced to make difficult financial and cost-cutting decisions in order to maintain operations. The new coronavirus has had a short-term impact on manufacturing sectors, causing in a drop in demand among consumer electronics providers, resulting in the lockdown situation. The weak demand has had a domino effect throughout the semiconductor industry, with the drop in the prices. The COVID-19 outbreak and the resultant lockdown has led to shutting down of operations, as well as the e-commerce and retail stores, making the supply chains weak and creating a larger gap between supply and demand.
However, despite the COVID-19 impact on the market, the escalating applications of for LED and OLED display in consumer electronics, automotive, enterprise, healthcare, media & entertainment, and education can fortify the market position throughout the review period.
Growth Inducers and Key Deterrents
The report focuses on the long-term impact of COVID-19, with governments everywhere doing everything they can to deal with the current situation. They are implementing favorable initiatives and policies including lower interest rate, exceptions in tax and financial packages. While countries are struggling to find a COVID-19 breakthrough, the LED and OLED Display Market Analysis can expect to gain impetus in the near future on account of the soaring demand for flexible display products.
Expanding the usage of LED and OLED displays in outdoor promotions and marketing could be a game-changer for the global market. Advertisers and marketers utilize these displays more for promotional campaigns and commercials because of appealing properties like as environmental friendliness, energy efficiency, great durability, and cheap operational costs. The increase in live concerts, corporate exhibitions, and sporting events accelerates market expansion globally.
The rapid expansion of the LED and OLED display industry can also be linked to end-users' increasing attention on energy conservation. With the increasing use of LED and OLED technologies in the backlights of laptops, monitors, and televisions, leading worldwide manufacturers are increasing their investments. Sensing the substantial prospects in the business, an increasing number of new vendors are entering the market, with an even greater number projected to come in the coming years.
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Market Segmentation
Type, display type, display size, and end user have all been studied in LED and OLED display market research.
Active-matrix OLED (AMOLED), passive-matrix OLED (PMOLED), inorganic OLED, high-brightness LED, and organic LED are among the varieties studied (OLED).
Flat panel displays, transparent panel displays, and flexible displays are among the display types addressed in the report.
Market categories for display sizes are up to 20", 20"-50", and 50" and more.
Media & entertainment, healthcare, automotive, education, consumer electronics, enterprise, industrial, commercial, and others are among the industry's key end users.
Leading Players
Leading players identified by MRFR are LG Electronics Inc.(South Korea), OSRAM GmbH (Germany), Samsung Electronics Co. Ltd. (South Korea), Universal Display Corporation (U.S.), Panasonic Corporation (Japan), Microchip Technologies (U.S.), Sony Corporation (Japan), Philips Electronics (Netherlands), Corning (U.S.), and more.
Some more players listed in the report include Futaba Corporation (Japan), Dresden Microdisplay GmbH (Germany), Shenzhen China Star Optoelectronics Technology Co., Ltd. (China), Fraunhofer-Gesellschaft (Germany), EverDisplay Optronics (Shanghai) Limited (China), BOE Technology Group Co., Ltd. (China), eMagin, Inc. (U.S.), Newvision Corporation (China), AU Optronics Corp. (Taiwan), Chunghwa Picture Tubes, LTD. (Taiwan), to mention a few.
Regional Insight
The LED and OLED display market has been segmented into four regions: North America, APAC (Asia Pacific), Europe, and RoW (Rest of the World).
North America's dominance in the global market is due to the broad use of LED and OLED displays in the consumer electronics industry. Because the region is home to a number of well-known enterprises, rapid technological developments and, as a result, lower pricing for LED and OLED displays help the regional market significantly.
The growing popularity of smartphones, tablets, and other consumer electronics in Taiwan and China is driving the LED and OLED display industry in APAC. The infrastructural improvement along with the mounting number of sport events, especially in India also adds to the market strength in the region.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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