October 30, 2015: With the advancements in organic LED (OLED) technology, demand for OLED lighting has started rising, says an IHS Inc?s market report. The report added that the market for OLED panels will grow ten-fold by 2020?from $2.7m in 2014 to about $26m in 2020.
The key factor for this market growth is the fast technical advancements of OLED technology. The main limitation of OLED lighting products? adoption is its high manufacturing costs. An LED fixture costs much less than an OLED lighting fixture, and even with all the benefits that OLEDs offers, they are still far behind LED lighting products in terms of cost, and hence, in terms of its usafe in applications like general lighting.
The average selling price of OLED panels in 2013 was less than $31. However, prices are expected to fall by about 40% over the next seven years, says the HIS report.
While price wise it will be difficult for OLED to compete with LED, OLED has advantages in panel weight, light quality, stylistic effects and heat distribution.
For more info: www.ihs.com
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