With Apple's recent announcement regarding its new mobile phone model, OLED panels are set to become a key feature, potentially triggering a domino effect across the mobile phone industry. This shift is expected to significantly boost the demand for OLED technology, propelling the market forward at an impressive Compound Annual Growth Rate (CAGR) of 41% between 2016 and 2021. This growth will see production capacity expand from 5.3 million square meters to 29.4 million square meters during this period. Industry analysts predict that OLED revenues will soar to $21 billion in 2017, marking a 46% increase from 2016, and could double by 2021, reaching $46 billion. In 2017, smartphones will continue to dominate the OLED market, accounting for 86% of total OLED usage, although this figure is projected to decrease slightly to 81% by 2021.
As we look beyond smartphones, OLED TVs are emerging as the second-largest application, steadily capturing a significant portion of the high-end consumer market. Meanwhile, niche applications like smartwatches and virtual reality headsets contribute smaller shares. In terms of unit shipments, smartphones represent 94% of all OLED displays, followed by VR headsets and smartwatches. By 2021, OLED TV shipments are anticipated to hit 6.5 million units, with a compound annual growth rate of 49% from 2016 to 2021.
The current leaders in OLED mobile display production are Samsung Electronics and Apple. It is forecasted that Apple will hold a 38% share of the mobile OLED market in 2018, but this is expected to drop to 25% by 2021. Reports suggest that Apple plans to continue investing in both Samsung and LG Display to secure sufficient production capacity. By early 2018, flexible OLEDs are predicted to surpass rigid OLEDs in popularity.
China’s burgeoning OLED industry is also gaining momentum, with new production lines coming online. This expansion is driving a remarkable annual compound growth rate of 114%. Consequently, the market share held by Chinese OLED manufacturers is set to rise sharply, from just 4% in 2016 to 34% by 2021.
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