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Global Automotive OLED Market 2015-2019
January 14, 2016 | PRNewswireEstimated reading time: 1 minute
Research and Markets has announced the addition of the "Global Automotive OLED Market 2015-2019" report to their offering.
Market outlook of automotive OLEDs
OLED lighting is an expensive technology to incorporate, and thereby it is likely to be introduced only in high-end models. The market research analysts predict the global automotive OLED market to grow at a CAGR of over 14% until 2019.
The global automotive OLED market is still in its nascent stage of growth, and it is expected witness exponential demand during the forecast period. However, OLED displays have several issues, especially concerning their short lifespan and high initial manufacturing costs. Despite this, OLED displays are advanced, and when produced on a massive scale they can be priced competitively.
The market is expected to witness steady growth during the forecast period. Emerging trends such as the increasing adoption of fuel-efficient, as well as luxury, vehicles would help to increase market growth in the near future. The rapid commercialization of OLED lighting is another major trend in this market.
According to the report, the major driver is design flexibility. There are several benefits of OLED displays, such as flexible designs with ultra-thin layers that enable manufacturers to provide various lighting combinations for automotive interiors. This results in the adoption of OLED technology across various applications in the interior lighting of a vehicle. The inherent advantages of OLEDs, which makes them an energy-efficient lighting option, is another crucial driver in the market.
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