Display Technology

OLED market to reach $203M by 2027

November 19, 2020

The OLED market is expected to reach $203.609 billion by 2027, up from $32.463 million in 2019, according to a report by Valuates Reports. The market will grow at a compound annual growth rate of 21.7% from 2020 to 2027 as well.

Some primary drivers of growth in the market include high demand for energy saving, OLED lighting, government initiatives, and growth in the market for display and large screen backlights. Other factors include increased investments, urbanization and economic growth.

At the same time, the market is also being held back by the high cost of OLED, according to the report.