OLED Market in China to Grow at CAGR 38%
Rising investments in OLED
manufacturing, increasing governmental support coupled with new technological
advancements to drive China OLED market through 2021
According to TechSci Research
report, “OLED Market in China By Type, By End Application, Competition Forecast
and Opportunities, 2011 – 2021”, the OLEDs market in China is projected to register a CAGR of over 38%
during 2016 - 2021, on account of increasing usage of OLEDs in allied
industries such as smartphones, televisions, tablets & notebooks,
automotive, etc. In addition, growing integration of OLEDs in lighting applications
in commercial, industrial, residential, etc. segments is also projected to
propel growth in China OLED market in the coming years. Increasing
technological advancements and rising governmental support are anticipated to
increase penetration of OLEDs in the country during 2016 - 2021.
OLED
displays accounted for a lion’s share in China OLED market, due to rising use
of these displays in smartphones, tablets and notebooks. Anticipated growth in demand
for consumer electronics in the coming years is projected to increase the
deployment of AMOLEDs. Although traditional lighting accounted for a major
share in China OLED lighting market, flexible lighting segment is projected to
witness robust growth due to high brightness and less power consumption compared
to others lighting devices. In 2015, East China region was the largest
regional market for OLEDs in China, on the account of large population base in
the region. Few of the major companies operating in China OLED
market include Samsung Displays, LG Displays, BOE Technology, Visionox, etc.
“A
growing number of car manufacturers have started deploying OLED technology in display
and lighting products used in vehicles. Car manufacturers are increasingly
deploying OLED dashboards for navigation purpose, OLED video entertainment
displays, etc., for better image quality and customer experience. OLEDs provide
automobile manufacturers with the ability to use improved luminaires and lamp
designs in vehicles for tail light, head light, and interior lighting
applications. Additionally, smart wearables such as smartwatches and smart
glasses are expected to witness increasing OLED adoption in the coming years in
China.’’ said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“China OLED Market By Type, By Application, Competition Forecast and Opportunities, 2011 –
2021” has evaluated the future growth potential of China
OLED market and provides statistics and information on market structure, size and
trends. The report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities present in the China OLED market.