The OLED lighting panels market refers to the industry that produces and sells lighting panels that use organic light-emitting diodes (OLEDs) as a source of light. OLEDs are a type of solid-state lighting technology that offers a range of benefits over traditional lighting technologies, including high efficiency, low heat emission, and a thin, flexible form factor.
OLED lighting panels are produced by a variety of companies, including LG Display, Konica Minolta, OLEDWorks, and Panasonic, among others. These companies produce OLED lighting panels in a range of sizes and shapes, including flexible and transparent panels.
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The OLED lighting panels market is driven by the increasing demand for energy-efficient and eco-friendly lighting solutions. OLEDs offer significant advantages over traditional lighting technologies, including higher efficiency and longer lifespan, which can help reduce energy consumption and lower maintenance costs.
Since a few years ago, organic lightening has become a new trend in the lighting industry. Industries are concentrating on producing organic products due to the rising popularity of organic materials.
The demand for OLED lighting panels is rising as people’s lifestyles are becoming more modern and technologically advanced products are becoming more widely available. Consumers of lighting solutions, such as homes, businesses, and other private infrastructures, are currently becoming more accustomed to such cutting-edge lights.
OLED light-emitting panels are used for a variety of lighting purposes. OLED is used to create attractive and efficient displays as well as large format lighting panels, so demand is anticipated to rise over the forecast period.
Global OLED Lightening Panels Market: Trends
One of the major trend observed in OLED lightening panel market is increasing funding for research and development. This funding is delivered by government organizations as well as leading manufacturers carry out their research under product innovation segments. The funding is offered for creating more advanced and efficient OLED lights.
For instance, in April 2018, the U.S. Department of Energy (DOE) offered a $15 million funding for research. This funding is being provided for the development of light-emitting diode (LED) and organic light-emitting diode (OLED) products. The research and development in OLED lightening panels and also for reducing lighting energy costs.
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Global OLED Lightening Panels Market: Region Wise Outlook
North America holds a significant market share regarding revenue generation from the sale of OLED lightening panels, due to the rapid adoption of OLED lightening panels in this region by corporate and commercial areas in this region. European countries are increasingly adopting OLED lightening panels for improving the appearance and maintaining an organic nature for the lightning.
The SEA and Other APAC region is expected to grow at a high CAGR over the forecast period, due to the increased production of OLED lightening panels in this region resulting into increasing adoption for OLED lightening panels. MEA is expected to grow at moderate CAGR, due to the slow adoption rate of the OLED lightening panels.
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