According to Omdia's latest OLED Display Market Tracker, small- and medium-sized OLED shipments are expected to exceed 1 billion units for the first time. This milestone includes display panels ranging from 1" to 8 inches, covering a wide range of applications such as gaming consoles, AR/VR/MR headsets, near-eye glasses and headsets, automotive display panels, smartphones, secondary display panels, smartwatches, and industrial display panels.

In the smartphone market, OLED technology has grown significantly, driven by OLED-Chinese mainland manufacturers such as BOE, CSOT, Hehui Optoelectronics (688538.SH), Visionox (002387.SZ) and Tianma Microelectronics, while the growth has also been fueled by huge technological advancements from South Korean giants Samsung Display and LG Display. In addition, OLED display panels are expanding into new application areas, including AR/VR and automotive display panels.

David Hsieh, general manager of display research at Omdia, noted, "Despite the higher cost and more complex manufacturing, OLEDs have proven to be ideal for small to medium-sized display panels due to their thin and light design, light weight, excellent image quality, efficient energy consumption and flexibility. In addition to replacing TFT LCDs in these applications, OLEDs also support innovative form factor designs, such as ultra-light and foldable designs. It is expected that by 2025, shipments of small and medium-sized OLED display panels will reach a peak of 1 billion units. ”

At the same time, display panel manufacturers are optimizing OLED production processes while expanding production capacity through innovations such as Gen 8.6, LTPO+ backplanes, COE, under-display fingerprint technology, under-display cameras, hybrid OLEDs, tandem RGB OLEDs, maskless OLED lithography deposition, and inkjet printing. These new developments are designed to elevate the value proposition of OLEDs, not just increase the numbers.

Xie added: "However, new manufacturers are starting to challenge the dominance of OLED. Samsung Display and LG Display have launched stretchable Micro LED display panels, while display manufacturers like AUO Optronic and Tianma are starting mass production of small and medium-sized Micro LED display panels, benefiting from the gradual improvement in cost and product maturity. After reaching their peak, small and medium-sized OLED display panels are expected to enjoy a decades-long golden age, although they may eventually be influenced by the advent of Micro LED display panels. ”