APAC region to dominate the Passive Matrix Organic Light Emitting Diode (PMOLED) market. The increasing number of applications and adoption in AR/VR headsets are expected to create an opportunity for PMOLED market in coming years.
New York, US, June 16, 2021 (GLOBE NEWSWIRE) -- Market Analysis
The PMOLED market is anticipated to touch USD 6.3 billion at a 19.7% CAGR over the forecast period (2020- 2027), reveals the current Market Research Future (MRFR) report. Passive matrix organic light-emitting diode (PMOLED) is a form of OLED that uses a simple system for controlling each row in the display. Its pixels are mostly off because they do not have storage capacitors. They need more voltage to provide more brightness over other light. Such displays are small in size and chiefly used in wearable devices, sub displays, and small gadgets.
Attractive Features that Bolster Market Growth
As per the MRFR report, there are numerous factors that are propelling the PMOLED screen market share. Some of these entail the escalating growth of the wearables market, increase in the use of handheld devices, rapid adoption of OLED displays on smartphones that are indirectly growing the sales of PMOLED, the different benefits that it offers such as better viewing experience, high display quality, low cost, low power consumption, energy efficiency, and simple and cheap fabrication, and high adoption in sub displays and small gadgets. The additional factors adding market growth include the increasing number of smartphone users with advanced display technology, growing demand for OLED over LCD, high resolution, color vibrancy, and unique contrasts, and increasing investment in the creation of PMOLED technology.
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On the contrary, emerging alternative technology like AMOLED, low market acceptance of PMOLED display, and restricted resolution are factors that may limit the global PMOLED market growth over the forecast period.
The Prominent Players Profiled in The Global PMOLED Market Report Include:
Sharp Corporation (Japan)
WiseChip Semiconductor Inc. (Taiwan)
LG Display (South Korea)
Japan Display (Japan)
Raystar Optronics Inc (Taiwan)
Accelopment AG (Switzerland)
Apple Inc (US)
Samsung Electronics (South Korea)
Panasonic Corporation (Japan)
Sony Corporation (Japan)
US Micro Products (US)
Browse In-depth Market Research Report (111 Pages) on PMOLED:
PMOLED is a form of OLED that utilizes a simple system for controlling every row sequentially in the display. They are generally used in wearable devices, small gadgets, and sub displays. The recent outbreak has drastically impacted the display industry. The temporary shutdown of manufacturing operations across major manufacturing hubs has slowed down the display product production substantially. Leading players have halted their operations in Europe, India, South Korea, and China. The lockdowns imposed by governments of different countries have forced businesses for temporary closure of plants. The halt in smartwatches, fitness bands, and other wearable devices production that utilize PMOLED displays has negatively impacted the market growth. Also, the fall in the adoption of PMOLED displays owing to cancellations or delays in the launch of new handheld gadgets that use PMOLED displays is limiting the market growth.
The rapid use of OLED displays in smartphones is a key driver for market growth. However, during the outbreak, there has been a fall in the sales of smartphones for the economic crisis and the change in consumer behavior. The usage of large PMOLED displays for installation in commercial places is also accountable for the market growth. The delays caused in the different infrastructure development projects where big-screen displays are installed impeded the market growth. The disruptions resulting in the supply chain activities, reduced operational capacities, revenue losses, and the unavailability of labor are the challenges that manufacturing organizations are currently facing. The uncertainty associated with the extended duration of the lockdown across the globe makes it challenging to estimate when and how resurgence in the display industry will occur.
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The MRFR report throws light on an inclusive analysis of the PMOLED market based on application, end user, and type.
By type, the global PMOLED market is segmented into flexible PMOLED and transparent PMOLED. Of these, the flexible PMOLED segment will lead the market over the forecast period for its wide viewing angles, faster refresh rates, and high contrast ratio.
By end user, the global PMOLED market is segmented into industrial, commercial, and residential. Of these, the industrial segment will dominate the market over the forecast period due to adoption of advanced machinery and wireless control systems.
By application, the global PMOLED market is segmented into lighting and display. The display segment is again segmented into automotive displays, tablets and laptop, smartphone, and television. Of these, the display segment will spearhead the market over the forecast period for the growing adoption of electronic devices like MP3 players, smartphones, and laptops.
APAC to Dominate PMOLED Market
Geographically, the global PMOLED market is bifurcated into Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA), North America, and South America. Of these, the APAC region will dominate the market over the forecast period. The presence of global players, growing population, rising adoption of wearable technologies, the presence of developing economies such as South Korea, India, Japan, and China that are key contributors, the presence of top electronic wearable devices manufacturing companies like Panasonic, LG, and Samsung, the on-going advances in display technologies by industry players to focus on consumer needs and produce cost-effective PMOLED products, and increasing population in India and China that led to a growing need of wearable devices are adding to the global PMOLED market growth in the region.
North America to Hold Second-Largest Share in PMOLED Market
In North America, the global PMOLED market is predicted to hold the second-largest share over the forecast period. Various infrastructure development projects coupled with the early adoption of the latest technologies are adding to the global PMOLED market growth in the region. Canada and the US hold the utmost market share.
Europe to Hold Admirable Growth in PMOLED Market
In Europe, the global PMOLED market is predicted to have admirable growth over the forecast period. Government initiatives fueling the production of lighting control systems coupled with the growing adoption in the industrial sector are adding to the global PMOLED market growth in the region. Germany holds the utmost market share, followed by Italy, France, and the UK.
In the MEA and South America, the PMOLED market is predicted to have sound growth over the forecast period.
March 2021- Fitbit Ace 3 for kids has been launched with up to 8-day battery life and touchscreen PMOLED display.
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