OLED lighting has potential as a promising next generation technology.
The global OLED lighting market was valued at $12.7m in 2010 and is
further expected to grow at a CAGR of 92% during 2011-2020 to reach
$8.3 billion by 2020. OLED lighting has potential applications in
specialty lighting, architecture lighting, back lighting, signage and
general illumination. The primary revenue driver for OLED lighting is
expected to be specialty lighting, which is expected to contribute
almost 38% of the overall OLED revenues by 2020. Some of the
applications that OLED lighting is targeting are also served by
fluorescent lamps, which make OLED a replacement technology; the new
technology is also expected to be competitive with light emitting
diodes (LED).
The innovation in technology and mass production volume are expected to
cause a decline in OLED prices. Industry experts expect a huge decline
in OLED prices once they are being produced in certain volumes. OLED
manufactures across the globe are involved in the research and
development (R&D) and expansion of their production line, which
will help in attaining economies of scale and reducing prices. The
unique features of OLED, such as weight, flexibility, color tunability,
low power consumption and durability; show the competitiveness of this
technology and its edge over others. OLEDs are also expected to
penetrate into the non-lighting market with niche applications due to
novel form factors.
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