The global OLED automotive lighting market is anticipated to grow at a significant CAGR 5% during the forecast period (2022-2028). The global OLED automotive lighting market is growing due to the rising demand for cost-effective and energy-saving OLED lighting globally. The rising government initiative for the adoption of organic LED lighting is also boosting the market growth. The rising government awareness to decrease environmental pollution by adopting OLED automotive lighting is significantly supporting the market growth. For instance, the German government provides subsidies to municipalities to replace lighting in publicly owned facilities with new OLED technology. The increasing demand for eco-friendly solutions and the rising adoption of smart lighting systems is further boosting the growth of the global OLED automotive lighting market.
The Asia-Pacific region is anticipated to hold the major share in the global OLED automotive lighting market. The increasing urbanization, as well as high demographic growth in this region, is boosting the market growth. The changing consumer lifestyle in emerging economies, such as China and India is also boosting the market growth in this region. The rise in disposable income, as well as high sales and production of vehicles in this region, is further boosting the growth of the Asia-Pacific OLED automotive lighting market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-
- In November 2021, Continental AG announced as earned its first major order for OLED displays in a production vehicle from a global vehicle manufacturer, with a total order value of around $1.1 billion.
- In October 2021, CCS Inc. announced the launch of the OLB-LT series of bendable OLED lights which will accelerate the release of advanced technologies to the market through special quality control standards.
- In October 2019, STMicroelectronics announced its collaborative efforts with Audi AG to deliver the next generation of innovative automotive exterior OLED lighting.
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Market Coverage
- The market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape – Eaton, General Electric, LG Innotek, UNIVERSAL DISPLAY), and Panasonic Holdings Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global OLED Automotive Lighting Market is available at: https://orionmarketreports.com/global-oled-automotive-lighting-market/110256/
Global OLED Automotive Lighting Market Report by Segment
By Type
- Exterior Lighting
- Interior Lighting
By Application
- Passenger Vehicle
- Commercial Vehicle
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