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Report: OLED market to reach $48 billion by 2023

December 12, 2017

The OLED market is expected to reach $48.81 billion by 2023, up from $16.58 billion in 2016. It will also 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 the market include the adoption of LED displays in smartphones, government support for OLED lightning research and positive customer experience.

The market's growth, however, is being restricted by high demand for micro-LED and direct view LED display technologies and low market acceptance of OLED lightning fixtures.