Aptos, CA, May 18, 2018 --(PR.com
)-- ElectroniCast Consultants, a leading market & technology forecast consultancy, today announced their market forecast of the worldwide consumption of organic light emitting diodes (OLEDs) in lighting applications.
According to the ElectroniCast market study results, the worldwide consumption value of selected lighting OLEDs reached and estimated $187.6 million ($0.188 billion) last year; consumption value is forecast to increase at an average annual growth rate of 49.7 percent to $1.4 billion in 2022. The total consumption value is forecast an increase to nearly $8.14 billion in 2027 (see Figure). All values and prices in this report are at factory as-shipped levels, and are in current dollars, which include the effect of a forecasted 5 percent annual inflation rate over the forecast period.
In the early years of the forecast period, a large percentage of the use of OLEDs in lighting is associated with Research and Development. R&D costs are non-capitalized labor, which is used for research, design engineering, manufacturing development, and start-up, costs of new production lines. It does not include capital equipment and associated setup costs, marketing support, or normal production support; however it does include expense incurred while prototyping and developing a new process or production line.
According to market research report, there was enough overall OLED interest and activity in 2017 by substantial leading lighting competitors with existing capable manufacturing capabilities, working with evolving technology, to push for “mass-production.” Also, industry players have been very active in establishing the required strategic supplier and intellectual property (IP) agreements, as well as progress in sales/distribution channel (planning) strategy.
Therefore, the stage is set for a “Build-it and They Will Come” marketing strategy. The question is, how many customers will come and when. At the same time, other (competing) lighting solutions already work, have substantial customer base and established sales/distribution channels, occupying store footprint; therefore, OLED will need to find unique style/designs to provide a common-sense approach to providing lighting solutions that the other technologies do not currently provide.
The OLED panel market should not be limited to (only) lamps and typical (conventional) lamp fixtures for general lighting (table lamps, wall/ceiling fixtures). ElectroniCast assumes that the OLED panel general-lighting market will grow beyond the “light-bulb” mentality to a broad base of applications, which currently may not even be in the idea-stage.