The North America Organic LED Market would witness market growth of 15.8% CAGR during the forecast period (2020-2026). A flat light producing technology that is created by putting thin organic films between two conductors is known as Organic Light Emitting Diode (OLED).
OLED technology offers beneficial properties such as it is power-efficient, thinner, lighter in weight, brighter, and provides better contrast in comparison to the LCDs. Due to these properties; OLED technology is gaining high traction. In order to improve the viewing experience of end-users, OLEDs provide broad viewing angles, quicker response time, superior contrast rations, and more saturated colors. OLED technology facilitates the end-users to develop flexible display and lighting panels.
Various factors such as the usage of OLED in smartphones owing to the advantages provided by these displays like readability in sunlight, energy-efficiency, and have a simpler recycling process than LCDS, are expected to boost the growth of the OLED displays. AMOLED screens have better contrast, as the light on the screen is produced from every specific pixel instead of a backlight, which takes less power. The technology finds potential applications in various end-use industries due to its capability to generate higher brightness, better flexibility, and superior color performance.
The US market dominated the North America Organic LED Lighting Market by Country 2019, and would continue to be a dominant market till 2026. The Canada market is experiencing a CAGR of 21.3% during (2020 - 2026). Additionally, The Mexico market would witness a CAGR of 20.3% during (2020 - 2026).
The PMOLED market dominated the Canada Organic LED Market by Technology 2019; thereby, achieving a market value of $809.8 million by 2026, growing at a CAGR of 16.6 % during the forecast period. The AMOLED market is estimated to grow at a CAGR of 17.7% during (2020 - 2026). Additionally, The Transparent OLED market is expected to witness a CAGR of 19.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: Organic LED Market in North America is expected to register a CAGR of 15.8% 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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