CHICAGO, Aug. 16, 2024 /PRNewswire/ -- The OLED-on-Silicon (OLEDoS) market is expected to reach USD 2,352 million by 2029 from USD 534 million in 2024 at a CAGR of 34.5%, from 2024 to 2029 according to a new report by MarketsandMarkets. Growing adoption of oledos displays in ar/vr hmds, superior picture quality and energy efficiency, increasing demand for high-resolution microdisplays, and increasing investment in the oledos ecosystem are some of the major factors contributing to the growth of OLED-on-Silicon (OLEDoS) market. Moreover, opportunities such as growing consumer electronics industry, advancement in OLED material technology, and expanding applications across various industries to drive the demand of OLED-on-Silicon (OLEDoS) and drive the market growth.
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OLED-on-Silicon (OLEDoS) Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 534 million |
Estimated Value by 2029 | $ 2,352 million |
Growth Rate | Poised to grow at a CAGR of 34.5% |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, Display Size, Vertical, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Complexities associated with next-generation batteries |
Key Market Opportunities | Expanding applications across various industries |
Key Market Drivers | Growing adoption of OLEDoS in AR/VR displays |
HMDs to dominate the Near-eye display segment of the market during forecast period.
Head Mounted Displays (HMDs) account for the largest share in the Near-eye Display segment of the OLED-on-Silicon (OLEDoS) market due to several reasons. The current growth in adoption of virtual reality and augmented reality technologies has triggered demand for HMDs, driven by high-resolution and high contrast displays from OLEDoS technology. In addition, the integration of OLEDoS displays in HMDs empowers enhanced user experience in terms of better image quality, improved response time, and low latency, making them quite suitable for a number of immersive applications. With their Vision Pro HMD, established players like Apple are aggressive about investing in the development of high-end HMDs equipped with such advanced display solutions, thereby driving the market growth. The growing use of HMDs in various sectors, including gaming, medical, and industrial training, further solidifies their dominant position in the Near-eye Display market.
Industrial & Enterprise to register highest CAGR in the market during forecast period.
The Industrial & Enterprise vertical segment in the OLED-on-Silicon (OLEDoS) market is experiencing significant growth for several reasons. First and foremost, OLEDoS displays will help provide excellent image quality, a high contrast ratio, and low power consumption things that become quite necessary industrially, where visual information needs to be available precisely for a longer time in operations. As such, the reason for the growth in demand from the application markets will be due to the adoption of OLEDoS technology in devices such as AR headsets and smart glasses, enabling better productivity and accuracy in workflows within manufacturing, logistics, and field services. In addition, the adoption of OLEDoS displays will be driven by demand for advanced diagnostic and monitoring tools within enterprise environments that make clearer, more detailed visuals necessary for complex data analysis and real-time decision making. In addition, growing investments in digital transformation and smart factory initiatives drive the implementations of OLEDoS-based solutions and thereby driving the growth of OLEDoS displays in the industrial and enterprise sectors.
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Europe to register the significant growth during the forecast period.
The growth rate of the OLEDoS industry across Europe is significantly increasing, which can be attributed to a various factor. Europe is home to many leading research institutions and technology companies working towards the innovation of OLEDoS technology. Fraunhofer Institute and Aixtron SE are amongst the most prominent institutions engaged in the research and development activities of the OLEDoS. Also, the strong concentration of leading automotive and aerospace industries in Europe, along with many major adopters of OLEDoS displays for applications in heads-up displays and cockpit systems, would fuel market growth. Active government initiatives and funds for encouragement in the area of advanced display technologies, along with support to semiconductors, act as a booster to the OLEDoS market. Another factor is that increasing demand for high-performance displays, primarily in the medical, consumer electronics, and industrial application industries, which are increasingly adopting OLEDoS technology in Europe.
The report profiles key players in OLED-on-Silicon (OLEDoS) companies such as Sony Semiconductor Solutions (Japan), Seiko Epson Corporation (Japan), eMagin (US), BOE Technology Group Co., Ltd. (China), SeeYA Technology (China), Kopin Corporation (US), LG Display Co. Ltd. (South Korea), MICROOLED (France), Lakeside optoelectronics technology (jiangsu) Co., Ltd. (China), Semiconductor Integrated Display Technology Co., Ltd. (China). These players have adopted various organic and inorganic growth strategies such as services launches, partnerships, collaborations, acquisitions, and joint ventures.
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