OLED lighting expected to reach $144 million this year

by Katie Daniel | September 28, 2015 10:32 am

colored lights panel for design and architecture concept — The OLED lighting market will experience increases annually until 2025, where it will slip $1.16 billion, says a recent report by ElectroniCast Consultants. Photo courtesy BigStockPhoto.com/Oneinchpunch

ElectroniCast Consultants[2] released the results of its worldwide organic light-emitting diode (OLED) market forecast, which predicts the market will reach $144 million in 2015.

An OLED is a light-emitting diode (LED) in which the emissive electroluminescent layer is a film of organic compound emitting light in response to the electric current. The organic semiconductor layer is between two electrodes and at least one of these electrodes is transparent. An OLED display works without a backlight, meaning it can display deep black levels and can be thinner and lighter than a liquid crystal display (LCD). In darker environments, an OLED screen can achieve a higher contrast ratio than an LCD.

The market and technology consultancy firm also predicted the consumption value will increase at an average annual growth rate of nearly 75 percent to approximately $2.36 billion in 2020. The total value of OLED lighting is forecasted to increase to $6.7 billion in 2023 before slipping to $5.54 billion in 2025. The quantity/unit volume is expected to climb through to 2025; however, decreases in the average selling prices will eventually cause this market value to also decrease.

The lighting in this study includes general lighting used to provide main illumination, as well as:

directional;
supplementary;
architectural;
panels and tiles used in vehicles;
signage;
televisions;
displays; and
signals.

“The OLED lighting market will grow beyond the ‘light bulb’ mentality to a broad base of applications, which currently may not even be in the idea-stage,” said ElectroniCast’s principal analyst Stephen Montgomery. “Applications that have been mentioned by industry participants include OLEDs incorporated into windows, skylights, wall and ceiling panels, mirrors with light function, flooring, stairs, and other possibilities.”

Endnotes:

[Image]: http://www.constructionspecifier.com/wp-content/uploads/2015/09/bigstock-Colored-Lights-Panel-For-Desig-93444617.jpg
ElectroniCast Consultants: http://www.electronicast.com/

Source URL: https://www.constructionspecifier.com/oled-lighting-expected-to-reach-144-million-this-year/