The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on PMOLED Screen Market. The growth sectors of the PMOLED Screen Market are identified with precision for a better growth perspective.
Market Research Future (MRFR), in its latest “PMOLED Market” report, published several factors that influence the market. As per MRFR study, the PMOLED screen market value can rise from USD 1.8 Bn in 2018 to USD 6.3 Bn by Bn by 2025. The global PMOLED market can surge at 19.7% CAGR, reveals MRFR study. The type of OLED that uses a simple system for controlling each row of display is termed as Passive Matrix Organic Light Emitting Diode (PMOLED).
PMOLED pixels are compact due to lack of storage capacitors. Hence, they are widely used in small gadgets, wearable devices, and sub displays. Over a few years, PMOLED displays are observed to win high popularity due to its unique contrasts, color vibrancy, and high resolution. Moreover, PMOLEDs are making proving its usefulness in industrial applications.
They are actively replacing passive LCDs in displays. They run on self-illuminating technology. This eliminates display module backlighting requirement. PMOLED display offer same level of contrast along all sides, i.e. 2000:1 pixel ratio. In addition, the high energy efficiency feature of PMOLEDs serve its purpose effectively in low-power applications.
Advancements in OLED technology and rise in investments to make such developments can drive the expansion of the global PMOLED market across the forecast period. On the contrary, the low level of awareness about PMOLED technology can restrain the rise of the PMOLED market in the forecast period. The high rate of adoption in AR or VR headsets can generate several opportunities for the PMOLED market to surge in the coming years.
The world PMOLED market study by MRFR is based on end user, type, and application. The type-based segments of the PMOLED market are flexible PMOLED and transparent PMOLED. The end user-based segments of the PMOLED market are commercial, residential, and industrial. The application-based PMOLED market segments are display and lighting. The display segments are smartphone, television, automotive displays, tablets & laptop, and others.
MRFR conducted regional based analysis of the market. According to MRFR. Asia Pacific can head the PMOLED market in the forecast period. The high presence of global PMOLED players in APAC, such as Panasonic Corporation, Sony Corporation, and WiseChip Semiconductor Inc. can cause the expansion of the PMOLED market in the region. The high population and rise in wearable technologies adoption can drive the PMOLED market through the evaluation period.
North America PMOLED screen market can secure the second position and thrive due to numerous infrastructure developments and the early adoption of modern technologies in this region. The US, followed by Canada, can lead the PMOLED market through the forecast period due to high adoption. Europe PMOLED market can surge as governments are launching initiatives that can boost the production threshold of lighting control systems. The growing PMOLED industrial applications can shoot EU market growth.
The rise in regional, global, and local PMOLED service providers is observed to cast a significant effect on the market. The continuous evolution of the product portfolio can enhance the market position. The reputed players are noted to strengthen their presence across the globe via mergers and acquisitions with and among local and regional marketers. This can cause the rise of the PMOLED market in the review period.
PMOLED Market is supposed to reach USD 6.3 billion by the end of the Predicted Years at a CAGR of…
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