Report: OLED market to surpass $48B by 2023
The OLED market is expected to reach $48.81 billion by 2023, up from $16.58 billion in 2016. The market will grow at a compound annual growth rate of 15.2 percent between 2017 and 2023, according to a report by Research and Markets.
Some of the key drivers of growth include the adoption of LED displays in smartphones, government support for OLED lighting research and positive customer experience.
However, the report claims that growth in the OLED market is restrained by the demand for micro-LED and direct-view LED display technologies and low market acceptance of OLED lighting fixtures.