Monitors and Cars Expand the Large- and Medium-Sized OLED Market, Led by K-Display

[Financial News] Monitors and automotive displays are expected to drive growth in the global large- and medium-sized organic light-emitting diode (OLED) market. The market is projected to grow by more than 50% by 2030, supported by higher specifications for gaming monitors and larger displays inside vehicles. Korean display companies are also expanding their product portfolios to respond to changing demand.
According to UBI Research on the 11th, global large- and medium-sized OLED market revenue is expected to grow by approximately 51%, from $10.01 billion this year to $15.15 billion in 2030.
Liquid crystal displays (LCDs) still dominate the large- and medium-sized display market, but OLED adoption is rapidly increasing as demand grows for higher resolution, faster refresh rates and higher contrast ratios.
Monitors and automotive displays are considered the key product categories driving the expansion of the large- and medium-sized OLED market. As demand for high resolution and fast refresh rates rises with the growth of gaming and content consumption, OLED adoption is also increasing because of its superior response times and contrast ratios. UBI Research forecasts that monitor OLED revenue will more than triple, rising from $1.52 billion this year to $4.69 billion in 2030.
OLED adoption in automotive displays is expected to expand as premium vehicles increasingly feature larger, curved and multi-screen displays. Automotive OLED revenue is projected to grow from $660 million this year to approximately $1.38 billion in 2030. Another growth factor is that displays account for a relatively small share of vehicle costs, making the transition to more expensive OLED panels comparatively less burdensome.

Korean display companies are also expanding their IT and automotive OLED product lines in response to market changes. In June, Samsung Display unveiled a 4K 360Hz monitor QD-OLED panel for gaming monitors for the first time and is preparing for full-scale mass production in the second half of the year. QD-OLED panels combine quantum dots with OLED elements to improve color reproduction and brightness, and are mainly used in gaming monitors that require rapid screen transitions. Since July, the company has also begun full-scale shipments of tandem OLED panels for laptops, which stack two light-emitting layers to improve brightness and power efficiency.
LG Display is accelerating the diversification of its automotive OLED products. In its semiannual report for this year, the company said it had developed five types of automotive hybrid OLED (ATO) panels, ranging from 7.2 inches to 24.2 inches. ATO products use thin-film encapsulation on glass substrates, simplifying the process and lowering manufacturing costs compared with conventional plastic OLEDs. LG Display plans to expand its automotive OLED customer base and application areas through a product lineup with improved price competitiveness.
According to industry sources, Samsung Display and LG Display are estimated to have held a combined revenue share of more than 90% of the global large- and medium-sized OLED market in the first half of this year. Chinese companies still account for a single-digit share, but they are moving quickly to enter the market by increasing investment in OLED production for information technology (IT) applications.
BOE began mass production and customer shipments from its 8.6-generation IT OLED line in Chengdu, China, in June. The move is part of its effort to expand beyond smartphone OLEDs into laptops and tablets. However, because the new line is still in the early stages of operation, the key question is whether yield stabilization and customer acquisition will translate into an actual increase in market share.
UBI Research analyzed, "The growth drivers of the large- and medium-sized OLED market are diversifying from TVs to monitors, laptops and automobiles. In particular, the expansion of 8.6-generation OLED mass production and the rapid growth of the monitor OLED market will be major factors determining the market positions of individual companies going forward."
[email protected] Park Ji-yeon Reporter