The global OLED materials market to grow at a CAGR of 5.71% during the period 2017-2021.
The report, Global OLED Materials Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in market is increasing penetration of IoT. The Internet of Things (IoT) is the means to interact with the people, objects, and places over the technology. IoT needs an electronic platform that is persuasive, unobtrusive, and can be integrated. The core components used to achieve these are radio-frequency identification (RFID) and near-field communication (NFC) devices in the IoT. The IoT industries need fast, solution-printed, low-cost electronics that are thin and unbreakable.
According to the report, one driver in market is increasing adoption of OLED in smartphones. In 2016, around 70% of world's population owned a smartphone. In 2016, the smartphone market witnessed a shipment of 1.44 billion units when compared to 7% in 2015. The growth is mainly because of the availability of the low-cost smartphones that are paving the way for commerce in emerging markets. In the first quarter of 2016, Samsung shipped around 80 million smartphone devices, and Apple shipped around 50 million iPhones. Huawei's smartphone shipment rose by 62% in 2016. There is an increase in the penetration rate of OLEDs in major markets like China.