OLED market to hit $1.3b

The OLED market is predicted to hit $1.3 billion by 2023, according to research from IDTechEx. This will equate to 1.3 per cent of the market size of LED lighting at that time

The report found that OLED lighting is likely to struggle to define and communicate its benefits and may remain overpriced. OLEDs are also expected to continue to underperform compared to LED options. OLED panel makers profits will be squeezed due to stiff competition. 

Reasons for this slow uptake are down to low efficiencies of around 20-50lm/W compared to 90-100lm/W of LEDs and the shorter operational lives. Another reason is the huge price tag, almost 100 times that of LED technologies.

The report compared the efficiency, cost, colour comfort, form factor, large-area emission and lifetime of OLEDs and LEDs, and found OLEDs were only ahead in form factor – and this was only marginal.

Increased investment in OLEDs means this early technology is likely to improve dramatically over the years. Current costs of active materials for OLEDs are around $350-$400/m2, but this is expected to fall to $70-$90/m2 by 2023.

Analyst Dr Norman Bardsley from IDTechEx suggests the OLED market will grow at a rapid rate of 40-50 per cent annually.

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