US OLED Market: Industry Analysis and Forecast (2024-2030)
US OLED market size was valued at USD 12.80 Bn. in 2023 and the total US OLED market size is expected to grow at a CAGR of 8.2% from 2024 to 2030, reaching nearly USD 22.22 Bn. by 2030.
Format : PDF | Report ID : SMR_2310
US OLED Market Overview:
OLED technology has been designed for use in TVs, computer monitors, laptops, smartphones, and tablets, as a flat panel display technology. OLED is short for Organic Light Emitting Diode and creates light through the use of an electric current across a thin organic material layer. It leads to a high contrast ratio, broad viewing angles, and low energy usage in comparison to LCD and other display technologies. The US OLED industry is driven by the growing demand for OLED televisions, valued for their viewing angles and black levels. The increasing use of OLED panels in foldable smartphones contributes to US OLED market growth.
Major Key players like Apple and Samsung use OLED screens in their top-selling devices, like iPhones and Galaxy phones, which boost their overall sales revenue significantly. The TV market is experiencing strong demand, with brands such as LG and Sony selling OLED TVs known for their high-quality images and stylish designs, attracting consumers in search of top-tier home entertainment setups. And entertainment systems to improve the auto sector is incorporating OLED tech in car dashboard's looks and features. The revenue potential of the market continues to increase as OLED applications grow in digital signage and healthcare, driven by ongoing technological advancements and strong consumer interest.
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US OLED Market Dynamics:
Rising Demand and Innovation Drive US OLED Market Growth in Consumer Electronics and Automotive Sectors
Rising demand for TV display panels, as well as the incorporation of OLED displays in smartphones, digital signage, and automotive industries, all of which contribute to the US OLED market's growth. Many key vendors, such as LG and Samsung, have manufacturing facilities in several factors, such as growing consumer interest in top-notch display technology. Improvements in OLED production, and the broadening of OLED applications across different sectors, are propelling the OLED market in the United States. The demand is largely driven by consumer electronics like smartphones, TVs, and wearable products, as OLED displays offer superior image quality, flexibility, and energy efficiency.
- Every year, over 40 million TVs are sold in the U.S., making the device a flagship technology in many American homes.
In addition, the automobile sector in the United States is progressively integrating OLED technology for car screens, lights, and dashboards, improving both appearance and performance. The healthcare industry is an increasing market for OLEDs, utilized in medical imaging and diagnostic devices. The environmentally friendly characteristics of OLEDs, which include reduced energy use and the potential for minimal environmental harm, justify their increased use in response to the growing focus on sustainability from both regulations and consumers.
Leading companies in the US OLED industry are promoting innovation through significant spending on research and development. Universal Display Corporation (UDC), headquartered in Ewing, New Jersey, is at the forefront of creating unique OLED technologies and materials to enhance display performance and efficiency. UDC is well-known for its phosphorescent OLED technology, valued for its extended longevity and exceptional efficiency. Also, leading consumer electronics companies such as Apple and Google are incorporating OLED displays into their premium products, setting standards in the field and increasing the potential of OLED technology. These developments not only fuel US OLED market growth but also foster a competitive atmosphere where continual improvement and technological advancement are essential.
US OLED Market Segment Analysis:
By Type, the display segment holds the largest share in 2023 for the US OLED Market. OLED display screens are made of organic light-emitting diodes. Solid-state devices are composed of organic molecular thin films that generate light by applying electrical energy. OLED displays represent a new generation of display technology. With OLEDs emitting light, they have the advantage of not requiring a backlight, making them ideal for handheld instruments, car displays, portable media players, audiovisual display systems, and mobile phones.
OLED displays are in high demand in the smartphone industry, with top brands like Apple and Samsung. Display in their flagship models such as the iPhone and Galaxy series, providing users with excellent image quality, lively colors, and energy efficiency. The TV section highlights strong demand, with big companies such as LG and Sony offering OLED TVs. Also, offers top-notch picture quality and stylish designs, appealing to consumers looking for high-quality home entertainment. Digital signage is a growing field, where OLED screens are utilized for their great visibility and adaptability in places such as retail stores and airports. OLED displays are being incorporated into dashboards and infotainment systems in the automotive sector, improving the appearance and features of vehicles.
- As of March 2023, 75 percent of the U.S. population has access to their car, with an additional 20 percent having access to a company or family car. The high motor vehicle demand in the country fuels an active automotive industry.
US OLED Market Competitive Landscape:
Major players in the US OLED market navigate a competitive landscape characterized by innovation and strategic moves to capture market share and drive technological progress. Universal Display Corporation (UDC), a major player in the OLED industry, is responsible for creating high-efficiency phosphorescent OLED (PHOLED) materials. PHOLED is used in many OLED displays for their excellent energy efficiency and long lifespan. Apple, a significant player as well, has used OLED technology because of its thin design and brilliant colors in its iPhone and Apple Watch series. Google is investing in OLED innovations to improve user experience and incorporates OLED screens into its Pixel smartphones.
Firms such as LG Display are making noteworthy progress in the US OLED market, increasing competition by supplying OLED panels for televisions and other electronics. The OLED technology innovations and investments made by these companies not only improve product offerings but also propel OLED adoption across various sectors.
US OLED Market Scope:
US OLED Market |
|
Market Size in 2023 |
USD 12.80 billion. |
Market Size in 2030 |
USD 22.22 billion. |
CAGR (2024-2030) |
8.2% |
Historic Data |
2018-2022 |
Base Year |
2023 |
Forecast Period |
2024-2030 |
Segments |
By Type
|
By Technology
|
|
By End Use
|
US OLED Market Key players:
- Universal Display Corporation
- Acuity Brands Lighting Inc.
- OLEDWorks LLC
- Others
For Global Scenario:
Frequently Asked Questions
A growing consumer demand and technical developments for OLED in the US are driving the US OLED market.
The Market size was valued at USD 12.80 Billion in 2023 and the total Market revenue is expected to grow at a CAGR of 8.2 % from 2024 to 2030, reaching nearly USD 22.22 Billion.
The segments covered are Type, Technology, and End Use.
1. US OLED Market: Executive Summary
2. US OLED Market: Competitive Landscape
2.1. Stellar Competition Matrix
2.2. Competitive Landscape
2.3. Key Players Benchmarking
2.4. Market Structure
2.4.1. Market Leaders
2.4.2. Market Followers
2.4.3. Emerging Players
2.5. Consolidation of the Market
3. US OLED Market: Dynamics
3.1. Market Trends
3.2. Market Drivers
3.3. Market Opportunities
3.4. Market Challenges
3.5. PORTER’s Five Forces Analysis
3.6. PESTLE Analysis
3.7. Strategies for New Entrants to Penetrate the Market
3.8. Regulatory Landscape
4. US OLED Market Size and Forecast by Segments (by Value USD Billion)
4.1. US OLED Market Size and Forecast, by Types (2023-2030)
4.1.1. Display
4.1.2. Lighting
4.2. US OLED Market Size and Forecast, by Technology (2023-2030)
4.2.1. Passive-Matrix OLED (PMOLED)
4.2.2. Active-Matrix OLED (AMOLED)
4.2.3. Transparent OLED
4.2.4. Top-Emitting OLED
4.2.5. Foldable OLED
4.2.6. White OLED
4.3. US OLED Market Size and Forecast, by End Use (2023-2030)
4.3.1. Consumer Electronics
4.3.2. Automotive
4.3.3. Retail
4.3.4. Aerospace & Defence
4.3.5. Healthcare
4.3.6. Others
5. Company Profile: Key players
6. Universal Display Corporation
6.1.1. Company Overview
6.1.2. Financial Overview
6.1.3. Business Portfolio
6.1.4. SWOT Analysis
6.1.5. Business Strategy
6.1.6. Recent Developments
7. Acuity Brands Lighting Inc.
8. OLEDWorks LLC
9. Others
10. Key Findings
11. Industry Recommendation
12. US OLED Market: Research Methodology