Market Overview

The automotive OLED market has been growing rapidly in recent years. OLED stands for Organic Light Emitting Diode, which is a type of lighting technology that is used to create thin, flexible, and energy-efficient displays. The automotive industry has been quick to adopt OLED technology due to its numerous advantages, including improved visibility, reduced power consumption, and better color accuracy.

The global automotive OLED market is expected to grow at a compound annual growth rate (CAGR) of over 12% between 2021 and 2026. The market is driven by the increasing demand for energy-efficient and lightweight displays in modern vehicles, as well as the growing trend towards advanced driver assistance systems (ADAS) and in-car entertainment systems.

Meaning

OLED technology is a type of lighting technology that uses organic materials to produce light. These materials are typically carbon-based and can be made to emit light in different colors. OLEDs are used in a wide range of applications, including mobile phones, televisions, and now, in the automotive industry.

Automotive OLEDs are used to create displays for various parts of the vehicle, including the dashboard, infotainment system, and instrument panel. They offer several advantages over traditional LCD displays, including better contrast, higher brightness, and faster response times.

Executive Summary

The global automotive OLED market is growing at a rapid pace, driven by the increasing demand for energy-efficient and lightweight displays in modern vehicles. OLED technology offers several advantages over traditional LCD displays, including improved visibility, reduced power consumption, and better color accuracy.

The market is expected to grow at a CAGR of over 12% between 2021 and 2026, fueled by the growing trend towards advanced driver assistance systems (ADAS) and in-car entertainment systems. The Asia Pacific region is expected to be the fastest-growing market, while North America and Europe will continue to be key markets due to their large automotive industries.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The following are some of the key insights into the automotive OLED market:

• The global automotive OLED market is expected to reach over $5 billion by 2026.
• The Asia Pacific region is expected to be the fastest-growing market, with a CAGR of over 15% between 2021 and 2026.
• OLED displays are increasingly being used in advanced driver assistance systems (ADAS) and in-car entertainment systems.
• The demand for flexible OLED displays is expected to grow rapidly in the coming years, due to their ability to be molded into various shapes and sizes.
• The automotive OLED market is highly competitive, with several major players operating in the market, including LG Display, Samsung Display, and Osram.

Market Drivers

The following are some of the key drivers of the automotive OLED market:

• Improved visibility: OLED displays offer better contrast and brightness compared to traditional LCD displays, making them easier to read in bright sunlight or low light conditions.
• Reduced power consumption: OLED displays consume less power compared to traditional LCD displays, making them more energy-efficient and reducing the load on the vehicle’s battery.
• Better color accuracy: OLED displays offer better color accuracy compared to traditional LCD displays, making them ideal for displaying images and videos.
• Growing trend towards ADAS: Advanced driver assistance systems (ADAS) are becoming increasingly popular in modern vehicles, and OLED displays are being used to create displays for these systems.
• In-car entertainment systems: The demand for in-car entertainment systems is increasing, and OLED displays are being used to create displays for these systems, providing high-quality visuals for movies, games, and other media.

Market Restraints

The following are some of the key restraints of the automotive OLED market:

• High cost: OLED displays are still more expensive compared to traditional LCD displays, making them less accessible to some vehicle manufacturers and consumers.

Market Opportunities

The following are some of the key opportunities in the automotive OLED market:

• Growing demand for electric vehicles: The increasing adoption of electric vehicles presents a significant opportunity for the automotive OLED market, as these vehicles require displays that are energy-efficient and lightweight.
• Development of new applications: OLED technology is versatile and can be used in a wide range of applications, including heads-up displays, rear-view mirrors, and interior lighting. This presents an opportunity for automotive OEMs and suppliers to develop new applications for OLED displays.
• Increasing demand for smart displays: The demand for smart displays is growing rapidly, and OLED technology is well-suited for this application due to its ability to display high-quality images and videos.
• Adoption of flexible OLED displays: Flexible OLED displays offer numerous advantages over traditional displays, including the ability to be molded into various shapes and sizes. This presents an opportunity for automotive manufacturers to develop unique and innovative displays for their vehicles.

Market Dynamics

The automotive OLED market is a dynamic and fast-paced market, driven by several key factors, including technological advancements, changing consumer preferences, and regulatory requirements.

Technological advancements in OLED technology have led to the development of new and innovative displays that are more energy-efficient, lightweight, and offer better image quality. As a result, automotive manufacturers are increasingly adopting OLED technology in their vehicles, creating a highly competitive market.

Changing consumer preferences are also driving the market, with consumers increasingly demanding high-quality displays that are easy to read and provide an immersive user experience. In response, automotive OEMs and suppliers are investing in the development of new OLED displays that meet these requirements.

Regulatory requirements are also playing a significant role in the automotive OLED market, with governments around the world implementing regulations aimed at reducing carbon emissions and improving fuel efficiency. OLED displays are an important part of this trend, as they are more energy-efficient compared to traditional displays, reducing the load on the vehicle’s battery and improving overall fuel efficiency.

Regional Analysis

The automotive OLED market is a global market, with key players operating in various regions around the world. The following are some of the key regions in the automotive OLED market:

• North America: The North American automotive OLED market is driven by the presence of several major automotive OEMs and suppliers, as well as the growing trend towards advanced driver assistance systems (ADAS) and in-car entertainment systems.
• Europe: The European automotive OLED market is characterized by the presence of several major automotive OEMs and suppliers, as well as strict regulatory requirements aimed at reducing carbon emissions and improving fuel efficiency.
• Asia Pacific: The Asia Pacific region is expected to be the fastest-growing market for automotive OLED displays, driven by the increasing demand for energy-efficient and lightweight displays in modern vehicles, as well as the growing trend towards electric vehicles.
• Rest of the World: The Rest of the World automotive OLED market is characterized by the presence of several emerging economies, as well as the growing trend towards electric vehicles and in-car entertainment systems.

Competitive Landscape

Leading Companies in the Automotive OLED Market:

1. LG Display Co., Ltd.
2. Samsung Display Co., Ltd. (Samsung Electronics Co., Ltd.)
3. OSRAM GmbH
4. Pioneer Corporation
5. Tianma Microelectronics Co., Ltd.
6. Wisechip Semiconductor Inc.
7. OLEDWorks LLC
8. Lumiotec Inc. (Mitsubishi Chemical Corporation)
9. Royole Corporation
10. Truly International Holdings Limited

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The automotive OLED market can be segmented based on various factors, including display type, application, vehicle type, and region.

Based on display type, the market can be segmented into:

• PMOLED displays
• AMOLED displays
• Transparent OLED displays
• Foldable OLED displays
• Others

Based on application, the market can be segmented into:

• Dashboard displays
• Infotainment displays
• Head-up displays
• Rear-view displays
• Other displays

Based on vehicle type, the market can be segmented into:

• Passenger cars
• Commercial vehicles

Based on region, the market can be segmented into:

• North America
• Europe
• Asia Pacific
• Rest of the World

Category-wise Insights

The following are some category-wise insights into the automotive OLED market:

Dashboard displays: Dashboard displays are a key application for automotive OLED displays, providing essential information to the driver in real-time. OLED displays offer several advantages over traditional LCD displays, including better visibility and color accuracy, making them ideal for this application.

Infotainment displays: Infotainment displays are another key application for automotive OLED displays, providing high-quality visuals for movies, games, and other media. OLED displays offer better contrast and brightness compared to traditional LCD displays, making them ideal for this application.

Head-up displays: Head-up displays are becoming increasingly popular in modern vehicles, and OLED displays are being used to create displays for these systems. OLED displays offer high brightness and contrast, making them easy to read in bright sunlight or low light conditions.

Rear-view displays: Rear-view displays are used to display images from the vehicle’s rearview camera, providing the driver with a clear view of the vehicle’s surroundings. OLED displays offer better color accuracy and contrast compared to traditional LCD displays, making them ideal for this application.

Key Benefits for Industry Participants and Stakeholders

The following are some key benefits for industry participants and stakeholders in the automotive OLED market:

• Improved visibility: OLED displays offer better visibility compared to traditional LCD displays, making them easier to read in bright sunlight or low light conditions.
• Reduced power consumption: OLED displays consume less power compared to traditional LCD displays, making them more energy-efficient and reducing the load on the vehicle’s battery.
• Better color accuracy: OLED displays offer better color accuracy compared to traditional LCD displays, making them ideal for displaying images and videos.
• Flexibility: OLED displays can be molded into various shapes and sizes, providing flexibility for automotive manufacturers to create unique and innovative displays for their vehicles.

SWOT Analysis

The following is a SWOT analysis of the automotive OLED market:

Strengths:

• Improved visibility
• Reduced power consumption
• Better color accuracy
• Versatility

Weaknesses:

• High cost
• Limited supply of OLED materials
• Sensitivity to moisture and oxygen

Opportunities:

• Growing demand for electric vehicles
• Development of new applications
• Increasing demand for smart displays
• Adoption of flexible OLED displays

Threats:

• Competition from LCD displays
• Technological advancements in other display technologies
• Fluctuating demand due to economic conditions

Market Key Trends

The following are some key trends in the automotive OLED market:

• Increasing adoption of OLED displays in advanced driver assistance systems (ADAS) and in-car entertainment systems.
• Growing demand for flexible OLED displays, which offer numerous advantages over traditional displays, including the ability to be molded into various shapes and sizes.
• Development of new and innovative applications for OLED displays, such as heads-up displays and rear-view mirrors.
• Increasing focus on research and development to improve the performance and efficiency of OLED displays.
• Growing trend towards electric vehicles, which require displays that are energy-efficient and lightweight.
• Adoption of new materials and technologies to improve the performance and efficiency of OLED displays.

Covid-19 Impact

The COVID-19 pandemic has had a significant impact on the automotive industry, including the automotive OLED market. The pandemic has led to disruptions in the supply chain, reduced demand for vehicles, and temporary shutdowns of manufacturing facilities.

However, despite these challenges, the automotive OLED market has remained relatively resilient. The demand for energy-efficient and lightweight displays in modern vehicles has continued to grow, and automotive manufacturers have continued to invest in OLED technology.

The pandemic has also highlighted the importance of in-car entertainment systems and advanced driver assistance systems (ADAS), both of which rely on OLED displays. As a result, the demand for these systems is expected to continue to grow in the post-pandemic world, driving the growth of the automotive OLED market.

Key Industry Developments

The following are some key industry developments in the automotive OLED market:

• In 2020, LG Display announced that it had developed a new 12.8-inch flexible OLED display for use in automotive applications.
• In 2021, Osram announced that it had developed a new OLED taillight module for use in automotive applications, offering improved performance and efficiency compared to traditional taillights.
• In 2021, Samsung Display announced that it had developed a new 10.4-inch curved OLED display for use in automotive applications, offering improved visibility and color accuracy.

Analyst Suggestions

The following are some suggestions from industry analysts regarding the automotive OLED market:

• Automotive manufacturers and suppliers should continue to invest in research and development to improve the performance and efficiency of OLED displays.
• The adoption of flexible OLED displays should be a key focus for automotive manufacturers and suppliers, as they offer numerous advantages over traditional displays.
• Automotive manufacturers and suppliers should work to develop new and innovative applications for OLED displays, such as heads-up displays and rear-view mirrors.
• The demand for in-car entertainment systems and advanced driver assistance systems (ADAS) is expected to continue to grow, driving the growth of the automotive OLED market.

Future Outlook

The future outlook for the automotive OLED market is positive, with the market expected to continue to grow at a rapid pace in the coming years. The increasing demand for energy-efficient and lightweight displays in modern vehicles, as well as the growing trend towards advanced driver assistance systems (ADAS) and in-car entertainment systems, are expected to be key drivers of the market.

The adoption of flexible OLED displays is expected to grow rapidly in the coming years, driven by their ability to be molded into various shapes and sizes. Additionally, the development of new applications for OLED displays, such as heads-up displays and rear-view mirrors, is expected to provide further growth opportunities for the market.

Conclusion

The automotive OLED market is a rapidly growing market, driven by the increasing demand for energy-efficient and lightweight displays in modern vehicles. OLED displays offer several advantages over traditional LCD displays, including improved visibility, reduced power consumption, and better color accuracy.

The market is expected to continue to grow at a rapid pace in the coming years, driven by the growing trend towards advanced driver assistance systems (ADAS) and in-car entertainment systems. The adoption of flexible OLED displays and the development of new applications for OLED displays are expected to provide further growth opportunities for the market.

Despite the challenges posed by the COVID-19 pandemic, the automotive OLED market has remained relatively resilient, and is expected to continue to grow in the post-pandemic world.