Omdia OLED display shipments will increase by 123% year-on-year in 2024

According to Omdia\’s \”Display Panel and OEM Market Tracking Report\” data, Omdia said that OLED display shipments will grow by 123% in 2024, with shipments reaching 1.84 million units. This significant growth is mainly driven by industry giants Samsung Display and LG Display.

According to Omdia\’s \”Display Panel and OEM Market Tracking Report\” data, Omdia stated that OLED display shipments will grow by 123% in 2024, with shipments reaching 1.84 million units.
This significant growth is mainly driven by industry giants Samsung Display and LG Display.
The popularity of OLED displays can largely be attributed to their rapid adoption in gaming applications.
Nick Jiang, chief analyst of Omdia\’s display research practice, said, \”OLED displays are mainly used for games. With the 2023 Hangzhou Asian Games incorporating e-sports into the competition for the first time, OLED displays have gained further attention.
Omdia said that as consumer demand for higher display specifications and the trend of larger display sizes continues, the price of liquid crystal display (LCD) panels is expected to increase.
This will narrow the price gap between LCD and OLED displays, indirectly making OLED technology more accessible.
In addition, the COVID-19 epidemic has impacted consumer behavior, triggering trends such as multi-screen interaction between laptops and monitors and growing consumer demand for higher monitor specifications, including high resolution and refresh rates.
Taking into account the product management cycle of display products and the three-year after-sales service time, Omdia expects that the replacement cycle will gradually begin from 2024.
LCD display panel prices are expected to increase as consumers pursue better display specifications and the trend of increasing display sizes continues.
This will reduce the price difference between LCD and OLED displays and indirectly make OLED technology more popular.
In addition, top display brands such as Dell, HP, Lenovo, Samsung, LG Electronics, AOC/Philips, Asus, Acer, MSI, and Gigabyte are adding more OLED displays to their product lineups in 2024.
From a supply chain perspective, this trend will help reduce the cost of complete machines and panels.
By increasing production through OLED displays, panel companies can evenly share panel costs and reduce costs.
For OLED display OEM companies, production costs can be reduced as multiple OLED display brand customers share mold costs.

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