According to South Korean display research firm UBI Research, the market for OLED display panels is set to expand rapidly over the next five years. In a forecast released on September 9, the firm projects the market will grow from $1.52 billion this year (about 10.2 billion yuan) to $4.69 billion (about 31.5 billion yuan) by 2030, representing a compound annual growth rate (CAGR) of 32.5%.
Monitors and Automotive Displays Lead Growth
The broader mid-to-large-sized OLED market, which includes panels for monitors, televisions, and automotive applications, is expected to rise from $10.007 billion (about 67.2 billion yuan) this year to $15.145 billion (about 101.7 billion yuan) by 2030, a CAGR of 10.9%. UBI Research highlights monitors as the key growth driver, predicting they will surpass televisions as the largest segment by 2030. The TV segment is expected to decline from $4.48 billion to $4.35 billion over the same period.
Automotive OLED displays are also set for robust growth, with sales climbing from $660 million (about 4.4 billion yuan) to $1.38 billion (about 9.3 billion yuan), a CAGR of 20.3%. This reflects increasing adoption of OLED screens in vehicle cockpits and infotainment systems.
Key Players and Revenue Projections
Among market participants, LG Display and Samsung Display are expected to see revenue increases of 34% and 68%, respectively. Samsung Display's revenue gap with LG Display is projected to narrow from $970 million (about 6.5 billion yuan) to $130 million (about 870 million yuan). Chinese companies are also poised for significant gains: BOE and Everdisplay (Visionox) are forecast to grow their revenues by 84% and 75%, respectively.
UBI Research's findings were reported by IThome, a Chinese technology news outlet, on September 14. The forecast underscores the accelerating shift toward OLED technology in displays beyond smartphones, particularly in IT devices and automotive applications.
