Global Automotive OLED Market In-depth Growth Outlook Feb-2017

Global Automotive OLED Market 2017-2021
The Automotive OLED market report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors for 2017-2021. The following companies are the key
players in the global automotive OLED market: Astron FIAMM, LG Chem, OSRAM, and Philips. Other
Prominent Vendors in the market are GE, KONICA MINOLTA, NIPPON SEIKI, WINSTAR, and Visteon.
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One trend in automotive OLED market is increase in the adoption of fuel-efficient vehicles. The global
automotive OLED market is expected to witness increased demand from fuel-efficient vehicles. OLED
lighting panels provide OEMs with increased opportunities in fuel-efficient vehicles that feature
advanced technologies such as hybrids, clean diesel engines, flexible-fuel ethanol vehicles, and
turbocharged direct injection systems.
Thus, with unconventional hybrid vehicles becoming a mainstay in the future automotive market, OLED
manufacturing companies will find huge opportunities by developing efficient lighting technologies.
According to the report, one driver in automotive OLED market is design flexibility. The invention of
OLED lighting panels has changed the lighting panel market significantly. OLED lighting products have
properties such as design flexibility, low power consumption, bright light, and thin size. Design flexibility
is one of the attributes driving the OLED lighting panel market. The flexible, ultra-thin OLED panels are
suitable for lighting the interior of automobiles.
Thus, internal automotive lighting applications of OLEDS such as OLED dashboards, digital rear-view
internal mirror, and internal mood lighting will evolve faster than external automotive lighting
applications of OLEDS during the forecast period. The demand for flexible OLEDs is expected to grow
during the forecast period, resulting in an increase in the sales of automotive OLED panels. Customers
are becoming attracted toward OLEDs as they help in catering to the functional and aesthetic needs of
cars.
Further, the report states that one challenge in automotive OLED market is high cost of production.
OLEDs are currently being used in luxury and high-end vehicles. The global automotive OLED market can
grow significantly only if the use of OLEDs in the mid-priced vehicles segment increases. However, the
cost of manufacturing OLED lighting products is high as the plants required for manufacturing OLED
lighting products are expensive. This limits the scope of installation of OLEDs in these vehicles as the
budget for the lighting segment of these vehicles is quite low in comparison to the budget required for
installing OLEDs.
The cost of installing OLEDs is expected to decrease in the near future but is currently acting as a
challenge for the manufacturers. Strategic acquisitions are quite common among the vendors in the
global automotive LED market. This is because, with rising competition, it has become crucial for
vendors to have a diversified geographical and product portfolio. Setting up new units or businesses is
expensive, and it takes some time to realize the gains from new businesses. Thus, strategic acquisitions
are often preferred to setting up of new businesses.