- Summary
- Table Of Content
- Methodology
PMOLED Market Size:
PMOLED Market size is estimated to reach over USD 16,546.33 Million by 2031 from a value of USD 4,305.31 Million in 2023 and is projected to grow by USD 5,017.66 Million in 2024, growing at a CAGR of 18.3% from 2024 to 2031.
PMOLED Market Scope & Overview:
PMOLED stands for passive matrix organic emitting light diode. PMOLED is used to control the display, it uses a simple control scheme through which each row in the display can be controlled sequentially one after another. PMOLED offers several benefits including bright and crisp display, higher contrast ratio, wider viewing angles, and others. PMOLED applications in all the industries mentioned above for dashboard displays, internal lighting, digital displays with internal rear-view mirrors, and external illumination (like indicators and tail lights).
PMOLED Market Dynamics - (DRO) :
Key Drivers:
Growing consumer electronics sector is driving the PMOLED market growth
PMOLED displays improve the overall efficiency, brightness, and cost of the product, as the consumer electronics sector embraces more advanced features and connectivity. In addition to their compact size, the displays can be manufactured at a lower cost compared to other display technologies. These devices offer a sleek, crisp look and use less power to operate. The passive matrix-OLED display is used in devices like smartwatches, washing machines, fitness trackers, AR glasses, and various other devices.
- For instance, in September 2023, Apple launched the Apple Watch Series 9, with added new features such as a brighter display, precision finding, new cycling and hiking features, and others.
Thus, the growing consumer electronics sector is driving the overall PMOLED market expansion.
Key Restraints :
Emerging alternative technology such as AMOLED is restraining the PMOLED market growth.
The higher quality of AMOLED displays such as their flexibility, thinness, and their ability to produce deep blacks and vivid color makes them highly used in consumer electronics. There is an increase in the adoption of AMOLED technology in automotive displays, television, smartphones, and tablets which is restricting the PMOLED market size.
- Samsung Electronics has launched the Galaxy Tab S6 with super AMOLED screen, the first tablet globally to receive HDR10+ certification. This advanced feature optimizes brightness and dynamically enhances color and contrast, offering users a more immersive and vivid viewing experience.
- For instance, Apple had reportedly ordered OLED panels for its iPhone 14 lineup from Samsung Display, L.G. Display, and BOE. Out of these, Samsung Display dominated the panel shipment for iPhones.
Therefore, the continuous advancements with the adoption of AMOLED displays for consumer electronics are restraining the PMOLED market trends.
Future Opportunities :
Rising demand in the automotive industry propels potential PMOLED market opportunities
In the automotive sector, passive matrix OLED displays are used in instrument clusters, head-up displays, infotainment systems, and rearview mirrors, enhancing the driving experience. Passive matrix OLED displays offer high contrast, vivid colors, and wide viewing angles, making them suitable for automotive applications. It is used to display essential vehicle information such as speed, fuel level, and indicators.
- According to OICA (International Organization of Motor Vehicle Manufacturers), there was a 10 percent rise in the production of motor vehicles including both cars and commercial vehicles in 2023.
Thus, according to the analysis, the growing automotive sector is anticipated to grow the overall PMOLED market opportunities during the forecast period.
PMOLED Market Segmental Analysis :
By Type:
Based on type, the market is segmented into transparent PMOLED and flexible PMOLED.
Trends in type:
- There is an increasing trend towards the utilization of flexible PMOLED in small gadgets and wearable devices.
- The rising trend of PMOLED technology is based on its increasing adoption among end-users due to its numerous advantages such as wide viewing angles, high contrast ratio, and thin displays.
The flexible PMOLED segment accounted for the largest revenue in the year 2023.
- Flexible passive matrix OLED displays are a type of display technology that combines the benefits of organic emitting light diode with flexibility. Flexible PMOLEDs are a new type of screen that can bend and fold. It is strong, light, and uses less energy. They are versatile displays suitable for applications that demand a combination of flexibility, energy efficiency, and visual quality.
- In April 2023, Hyundai Mobis launched a rollable (flexible) display for cars, allowing users to adjust screen dimensions based on their needs. The display minimizes space usage, improving interior design, and entertainment.
- Thus, a flexible PMOLED display offers a versatile, energy-efficient, and cost-effective solution, driving innovation and meeting the increasing PMOLED market demand.
The transparent PMOLED display segment is set to register a considerable CAGR during the forecast period.
- Transparent passive matrix OLED displays are transparent displays that display information in digital format on transparent surface glass. Transparent displays have high contrast and vivid colors. Due to transparency it gets blended with the surroundings and provides the appearance of a larger environment. Advertisements are presented with perfect sharpness due to ultra-high-definition resolutions, reaching up to 4K.
- For instance, WiseChip, a top manufacturer of PMOLED display panels, showcased its newest micro transparent display products at the China Expertise International Optoelectronic EXPO in 2024.
- As per the PMOLED market analysis, the rising advancements in transparent PMOLED displays are anticipated to boost the market during the forecast period.
By End User:
Based on the end use, the market is segmented into consumer electronics, automotive, healthcare, and others.
Trends in the end use:
- Growing trend towards adoption of electronic devices such as smartphones, laptops, and televisions is driving the PMOLED market trends.
- The adoption of PMOLED technology in the automotive sector is increasing due to its high quality, flexibility, and energy efficiency. This trend is driven by the growing advancements in-car displays.
The consumer electronics sector accounted for the largest revenue share of 39.87% PMOLED market share during the forecast period.
- Consumer electronics encompasses daily use, primarily for communication, entertainment, and productivity. This includes smartphones, tablets, televisions, and other digital devices.
- Consumer electronics enhance convenience, connectivity, and entertainment. In applications, the growing integration of AI and IoT has further expanded the application of these devices in smart homes and others.
- Samsung shipped 53.9 million smartphones in Q2 2024, holding an 18.9% market share. This represents a slight 0.7% increase from Q2 2023 when it had a 20.0% market share with 5.5 million units shipped.
- Thus, according to the analysis, the growing consumer electronics sector is driving the PMOLED market size.
The healthcare sector is anticipated to register a significant CAGR during the forecast period.
- The healthcare segment includes medical devices and wearable health devices, designed for diagnosis, monitoring, and treatment of various health conditions. This segment has seen significant growth, fueled by technological advancements and an increased focus on preventive healthcare.
- Wearable health devices and medical equipment provide real-time health monitoring. Smartwatches can track heart rate and sleep patterns, and advanced medical devices assist in surgeries and diagnostics.
- In 2022, according to the Indian Brand Equity Foundation, the Indian medical devices market was valued at approximately USD 11 billion and is anticipated to expand to USD 50 billion by 2030.
- As per the analysis, the growing usage of medical devices is anticipated to boost the PMOLED market demand during the forecast period.
Regional Analysis:
The regions covered are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
Asia Pacific region was valued at USD 1,084.65 Million in 2023. Moreover, it is projected to grow by 1,271.63 Million in 2024 and reach over USD 4,465.86 Million by 2031. Out of this, China accounted for the maximum revenue share of 36.8%. As per the analysis, the rising investments and government subsidiaries associated with electronic manufacturing in the Asia-Pacific region lead to the progress of the PMOLED industry, in turn driving the PMOLED market.
- According to the Indian Brand Equity Foundation, foreign direct investments in surgical and medical appliances were valued at USD 3.28 billion from April 2000 to March 2024.
North America is estimated to reach over USD 5,888.84 Million by 2031 from a value of USD 1,545.28 Million in 2023 and is projected to grow by USD 1,799.70 Million in 2024. The region's advanced technology infrastructure, and increasing investments in consumer electronics, automotive, healthcare, and other sectors are primary factors driving the PMOLED market in the region.
- According to TD Economics, U.S. light motor vehicle sales reached approximately 15.4 million units in Q1 2024, reflecting a 2.7% increase compared to the same period last year, while North American automotive production grew by 9.6% in 2023.
Additionally, according to the PMOLED market analysis, Europe has a significant PMOLED market share. The region is backed by the growing consumer electronics demand and government subsidies for manufacturing electronic products and facilities. Moreover, the Middle East & Africa is experiencing an economic transformation. The determinants affecting the growth include the increasing FDI in the healthcare industry for increasing quality healthcare products in Saudi Arabia and UAE. Further, the Latin American region is poised for moderate development for the PMOLED market along with the growth of various industries such as automotive, consumer electronics, and others. Countries such as Brazil, Argentina, and others are representing the cumulative PMOLED market expansion.
Top Key Players & Market Share Insights:
The PMOLED market is competitive with major players providing advanced engines to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the global PMOLED market. Key players in the PMOLED industry include-
- Raystar Optronics (Taiwan)
- Winstar (Taiwan)
- Sony (Japan)
- G. Display (South Korea)
Recent Industry Developments :
Partnerships & Collaborations:
- For instance, in October 2022, Futaba partnered with RiTDisplay, a company known for its production of OLED displays. This collaboration enhances Futaba’s PMOLED display production capabilities with RiTdisplay’s display parts.
PMOLED Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2018-2031 |
| Market Size in 2031 | USD 2,992.61 Million |
| CAGR (2024-2031) | 5.1% |
| By Type |
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| By End-User |
|
| By Region |
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| Key Players |
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| North America | U.S. Canada Mexico |
| Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
| APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
| Middle East and Africa | GCC Turkey South Africa Rest of MEA |
| LATAM | Brazil Argentina Chile Rest of LATAM |
| Report Coverage |
|
Key Questions Answered in the Report
How big is the PMOLED Market? +
The PMOLED Market was valued at USD 4,305.31 Million in 2023 and is projected to grow to USD 16,546.33 Million by 2031.
Which is the fastest-growing region in the PMOLED Market? +
Asia-Pacific is the region experiencing the most rapid growth in the PMOLED Market.
What specific segmentation details are covered in the PMOLED display report? +
The PMOLED display report includes specific segmentation details for type, end-use, and region.
Who are the major players in the PMOLED Market? +
The key participants in the PMOLED Market are Futaba (Japan), Wisechip (China), Raystar Optronics (Taiwan), Winstar (Taiwan), Sony (Japan), L.G. Display (South Korea), Samsung Display (South Korea), Pioneer (Japan).
