The Latin America, Middle East and Africa Organic LED Market would witness market growth of 16.3% CAGR during the forecast period (2020-2026). LED technology is gaining high preferences among consumers due to its properties of being thinner, brighter, light in weight, power-efficient and provides superior contrast in comparison to LCDs.
OLEDs provide broad viewing angles, better response time, superior contrast ratios, and more saturated colors to improve the viewing experience of end-users. They are costlier than LED and LCD products. Though, the cost of these products would reduce once the products get more adoption rate in the market. Several emerging and established countries across the globe are shifting their preferences towards energy-efficient lighting solutions. Professionals have foretold that OLED technology would fulfill the needed performance and cost targets in the future, which would help in establishing a smooth transition from traditional to efficient lighting solutions. In addition, government and market investment for R&D activities would further fuel the process of managing technological limitations for the OLED lighting solution.
The OLED market would witness various growth avenues due to many factors including massive acceptance of OLED displays in smartphones, considerable funding for creating new units to make OLED panels, huge demand for the superior viewing experience particularly from smartphone and television consumers, technological developments in OLED technology, growing demand for AMOLED displays in AR/VR headset applications, and investments from governments across the world for OLED lighting research.
The Brazil market dominated the LAMEA Industrial Organic LED Market by Country 2019, thereby, achieving a market value of $149.6 million by 2026. The Argentina market would witness a CAGR of 18.7% during (2020 - 2026). Additionally, The UAE market is experiencing a CAGR of 17.7% during (2020 - 2026).
The Display market dominated the South Africa Organic LED Market by Product Type 2019, and would continue to be a dominant market till 2026; growing at a CAGR of 16.2 % during the forecast period. The Lighting market is expected to witness a CAGR of 20.2% during (2020 - 2026).
Based on Product Type, the market is segmented into Display and Lighting. Based on Technology, the market is segmented into PMOLED, AMOLED, Transparent OLED, Top-Emitting OLED, Foldable OLED and Others. Based on End User, the market is segmented into Consumer Electronics, Automotive, Industrial, Commercial, Healthcare, Retail and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Organic LED Market in LAMEA is expected to register a CAGR of 16.3% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), LG Display Co., Ltd. (LG Corporation), Panasonic Corporation, Universal Display Corporation, Konica Minolta, Inc., BOE Technology Group Co., Ltd., OSRAM GmbH, Acuity Brands Lighting, Inc., Organic LEDWorks LLC, and Tianma Microelectronics Co., Ltd.
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