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Global OLED TV market to reach USD 4.2 Billion by 2024

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(Free Press Release) The global OLED TV market size is anticipated to reach USD 4.2 billion by the end of 2024, expanding at a compound annual growth rate of 23.1% over the forecast period i.e. 2016-2024.

Global OLED TV market to reach USD 4.2 Billion by 2024


      

Advancement in technology and growing interest of consumers towards advanced electronic goods which are durable and energy saver are the key factors driving the growth of OLED TV market. Huge capital investment over research and development of OLED TVs by big market players such as Samsung and L.G to provide innovative technologies to their customers and to attract new consumer base is expected to boost the sale of OLED TVs in coming years.

Rising urbanization and technological advancements in display screens is increasing the consumer’s interest towards OLED TVs.” OLED TV market is at nascent stage and the technology is gaining momentum as new technological advances and declining prices will keep consumers investing in new generation products. OLED TV market segmentation has been carried out on the basis of technology and end-users. Technology is further bifurcated into AMOLED and PMOLED. In 2016, AMOLED technology accounted for 70 percent of global OLED TV market. AMOLED market is dominated by Samsung and LG display and it is estimated that over 310 million AMOLED panels will be produced in 2017. The global OLED TV market size is anticipated to reach USD 4.2 billion by the end of 2024, expanding at a compound annual growth rate of 23.1% over the forecast period i.e. 2016-2024. The global OLED TV market accounted for over USD 22.1 billion in 2016, increasing investment by major players indicates strong growth of the market in upcoming future. Asia-Pacific is the fastest growing region for OLED TV market and is expected to dominate the market during the forecast period of 2016-2024. Asia-Pacific OLED TV market valued USD 1.2 billion in 2016 and is estimated to reach USD 6.3 billion by 2024. China is expected to dominate the OLED TV market followed by South Korea and Japan due to presence of large OLED TV manufacturers in these countries. China's OLED is expected to grow very fast, at a CAGR of 110% over the forecast period and Chinese OLED TV manufacturers will increase their AMOLED market share from 4% in 2016 to 34% in 2024.

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Market Segmentation

· By Technology

o AMOLED (Active Matrix OLED)

o PMOLED (Passive Matrix OLED)

· By End Users

o Commercial Sector

o Residential Sector

· By Geography

o North America (US, Canada)

o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe)

o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa)

o Latin America (Brazil, Mexico and Rest of Latin America)

o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific)

o Rest of the World

“Global OLED TV Market Outlook 2024” contains detailed overview of the global OLED TV market in terms of market segmentation by technology type and by end users.

Further, for the in-depth analysis, the OLED TV market report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global OLED TV Market report also provides competitive outlook of some of the major players which includes profiling of companies such as LG Electronics, Samsung Electronics, Haier Group, Konka group, Panasonic, Sichuan Changhong Electric, Sony, Hitachi etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on OLED TV market trends that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts. Our analysts working on latest hardware and communication industry market reports to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.

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Global OLED TV market to reach USD 4.2 Billion by 2024

Source: Press Release

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