USD 23.24 Billion
PLED Market Size, Share, Growth Analysis, By Application(Consumer Electronics, Automotive, Aerospace & Defense, Healthcare), By Product Type(Displays, Lighting, Signage, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45K2042 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
66
|Figures:
77
PLED Market Insights
Global PLED Market size was valued at USD 23.24 Billion in 2022 and is poised to grow from USD 23.80 Billion in 2023 to USD 28.77 Billion by 2031, at a CAGR of 2.40% during the forecast period (2024-2031).
PLEDs are an alternative to traditional lighting technologies such as incandescent and fluorescent lamps, which have a negative impact on the environment. advancements in PLEDs have led to the development of flexible and transparent displays, which are being increasingly used in various applications.
For Instance, December 2021, Universal Display Corporation, a leading supplier of PLED materials and technology, announced a collaboration with PPG Industries to develop and commercialize a new family of PLED products for the display and lighting industries.
In October 2021, Osram Opto Semiconductors, a subsidiary of OSRAM, launched a new PLED product line called Duris P 10, which is designed for use in various lighting applications.
Transparent PLED displays are being increasingly used in applications such as augmented reality, advertising, and signage. PLEDs have the potential to revolutionize the lighting industry by providing cost-effective and eco-friendly lighting solutions.
The high cost of production of PLEDs is a major challenge for the market as it limits the adoption of PLEDs in various applications. the increasing adoption of PLED technology in various applications and the ongoing efforts of companies to innovate and improve PLED products.
The PLED (Polymer Light-Emitting Diode) market is experiencing a notable upsurge, attributed to several pivotal factors. Continued advancements in PLED technology have spurred the creation of displays that are not only flexible and transparent but also remarkably energy-efficient.
This technological progression stands as a primary driver behind the market's growth trajectory. Moreover, heightened environmental consciousness, coupled with regulatory directives emphasizing eco-friendly lighting solutions, has significantly bolstered the adoption of PLEDs.
Their capacity to offer a sustainable alternative to conventional lighting methods aligns well with the increasing global emphasis on environmentally responsible practices, contributing substantially to the expanding market presence of PLEDs.
US PLED Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Lighting
Fastest Growth
Lighting
Growth Rate
2.40% CAGR
Global PLED Market ($ Bn)
Country Share for Asia Pacific Region (%)
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PLED Market Segmental Analysis
Global PLED Market is segmented on the basis of product type, application and region. By product type, the market is segmented into displays, lighting, signage and others. By application, the market is segmented into consumer electronics, automotive, aerospace & defense, healthcare, industrial and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
PLED Market Analysis by Application
The automotive segment is expected to grow at a CAGR of 20.8% in 2021. The automotive segment is expected to grow at a significant rate during the forecast period. PLEDs are increasingly being used in automotive applications such as headlights, taillights, and interior lighting due to their energy efficiency, durability, and design flexibility
The consumer electronics segment is expected to grow at a CAGR of 17.5% in 2021.The consumer electronics segment is also expected to grow at a significant rate during the forecast period. PLEDs are being used in various consumer electronics applications such as smartphones, wearables, and laptops.
PLED Market Analysis by Product Type
The lighting segment is expected to dominate at a CAGR of 18.5% in 2021.The lighting segment is expected to grow at a significant rate during the forecast period. PLEDs are energy-efficient and have a longer lifespan than traditional lighting technologies, making them ideal for use in various lighting applications such as indoor and outdoor lighting, automotive lighting, and street lighting.
The displays segment is expected to grow at a CAGR of 17.9% in 2021.The displays segment is expected to be growing the PLED market during the forecast period. PLED displays are used in various applications such as smartphones, televisions, computer monitors, and wearable devices. The increasing demand for high-quality displays and the development of flexible and transparent displays are driving the growth of this segment.
Global PLED Market By Product
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PLED Market Regional Insights
The Asia Pacific region is expected to dominate at a CAGR of 19.5% in 2021. The Asia Pacific region is expected to dominate the PLED market during the forecast period due to the presence of major manufacturers and suppliers of PLED materials and technologies in the region. The increasing demand for PLED displays and lighting in countries such as China, Japan, South Korea, and India is also driving the growth of this market.
The North American region is expected to grow at a CAGR of 16.9% in 2021. The North American region is expected to show significant growth during the forecast period due to the increasing demand for PLED displays and lighting in various applications such as automotive, consumer electronics, and healthcare. The presence of major manufacturers and suppliers of PLED materials and technologies in the region is also driving the growth of this market.
Global PLED Market By Region
- Largest
- Fastest
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PLED Market Dynamics
PLED Market Drivers
Growing demand for Energy-Efficient Lighting Solutions to Bolster Market Growth
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PLEDs are known for their energy efficiency, as they consume less power compared to traditional lighting solutions. With the growing demand for energy-efficient lighting solutions to reduce energy consumption and greenhouse gas emissions, the demand for PLEDs is expected to increase.
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PLED displays are widely used in smartphones, laptops, and other consumer electronics due to their low power consumption, thin form factor, and high contrast ratio. With the growing demand for smartphones and other consumer electronics, the demand for PLED displays is also expected to increase
PLED Market Restraints
Limited Lifetime and Stability to Hinder Market Growth
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PLEDs have a limited lifetime compared to traditional lighting solutions, which can result in higher replacement costs. Additionally, PLEDs can be sensitive to environmental factors such as heat and moisture, which can affect their stability and performance.
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PLED Market Competitive Landscape
These companies are involved in research and development activities to develop more efficient and cost-effective PLEDs. They also focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and increase their customer base. In addition to these major players, there are also several smaller players and startups in the market that focus on niche applications and specialized products. These players often compete based on innovation, flexibility, and customization capabilities.
Top Player’s Company Profiles in PLED Market
- Universal Display Corporation (United States)
- Osram GmbH (Germany)
- Novaled GmbH (Germany)
- Konica Minolta, Inc. (Japan)
- Samsung SDI Co., Ltd. (South Korea)
- BASF SE (Germany)
- DuPont de Nemours, Inc. (United States)
- Panasonic Corporation (Japan)
- Dow Inc. (United States)
- Covestro AG (Germany)
- Idemitsu Kosan Co., Ltd. (Japan)
- Henkel AG & Co. KGaA (Germany)
- Mitsubishi Chemical Corporation (Japan)
- AGC Inc. (Japan)
- Heraeus Holding GmbH (Germany)
- Kaneka Corporation (Japan)
- Toray Industries, Inc. (Japan)
- Sumitomo Bakelite Co., Ltd. (Japan)
- The Chemours Company (United States)
PLED Market Recent Developments
- In January 2023, TCL indicated that due to the market's too-slow growth, it will not be releasing any 8K TVs in 2023. Instead, it will concentrate on offering better-performing premium 4K UHD Mini-LED and subsequently QD-OLED TVs with a significant value-added.
- In March 2021, LG Display announced that it has started mass production of its 48-inch Bendable Cinematic Sound OLED (CSO) panel, which combines a flexible display with a speaker. This technology could also be used in PLED displays.
PLED Key Market Trends
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PLEDs offer several advantages over traditional automotive lighting solutions, including improved energy efficiency and design flexibility. The increasing demand for energy-efficient and aesthetically appealing automotive lighting solutions is driving the adoption of PLEDs in the automotive industry.
PLED Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global PLED (Polymer Light Emitting Diode) market is a growing market that is driven by several factors, including the increasing demand for energy-efficient lighting solutions, the growing adoption of PLEDs in various applications, and advancements in PLED technology. The market is expected to grow significantly in the coming years, driven by the growing demand for flexible displays, the increasing adoption of PLEDs in automotive lighting, and the focus on sustainability. The dominant and fastest-growing region is Asia-Pacific, driven by the growing demand for energy-efficient lighting solutions, the increasing adoption of PLEDs in various applications, and the presence of major players in the region. The companies are involved in research and development activities, strategic collaborations, and partnerships to expand their market reach and customer base. The global PLED market is a growing market that is expected to experience significant growth in the coming years, driven by the increasing demand for energy-efficient lighting solutions, the growing adoption of PLEDs in various applications, and advancements in PLED technology.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 23.24 Billion |
| Market size value in 2031 | USD 28.77 Billion |
| Growth Rate | 2.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on PLED Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on PLED Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the PLED Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the PLED Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the PLED Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the PLED Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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