Passive Matrix OLED Market

Updated On : 22 September 2024

PASSIVE MATRIX OLED MARKET REPORT OVERVIEW

The global Passive Matrix OLED Market Size is USD 326.9 million in 2024 and the market is projected to touch USD 376.9 million by 2031, exhibiting a CAGR of 2.40% during the forecast period.

Passive matrix OLED is the arrangement of the driving electrodes in an OLED display also called PMOLED and it is an array of vertical conductors with the OLED material between them which leads to the formation of pixels where the vertical and horizontal conductors intersect. It is used in electronic devices such as wearable devices, small screens, and some old-generation smart phones and it has simpler construction compared to AMOLED displays as they consist of a matrix of organic light-emitting diodes which are arranged in rows and columns with each OLED pixel controlled by individual row and column electrodes.

PMOLED displays need less power as compared to AMOLED displays because of the thin-film-transistor (TFT) backplane for each pixel which results in lower power consumption mainly for static and low-motion content and slower refresh rates as compared to AMOLED displays.

COVID-19 IMPACT: Market Growth Restrained by Pandemic Impact on Electronics Industry

The global COVID-19 pandemic has been unprecedented and staggering with the market experiencing higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Due to COVID-19, the electronics companies faced difficulty making strategic decisions and recovering business from loss and evolving demand for products led to a major impact on growth of the industry.

Due to the pandemic the reduced workforce, the slowdown and halting of supply chains, and the fall in demand for electronic products and fall in demand for electronics products led to an impact on market growth. There was a mass disruption in the electronics industry as this disruption threw the industry into a state of uncertainty and full recovery from them may take time to recover from the loss.

LATEST TRENDS

"Advancement in Technology Leads to Market Boost"

With advancements in technology, Passive matrix OLED has also been influenced by the latest technology as increasing demand for AR and VR devices has boosted the market for PMOLED as it provides better color reproduction and contrast ratio compared to other display technologies which makes it the right fit for AR/VR applications and with advancement in PMOLED technology such as the development of transparent and flexible displays that are anticipated to create new and good opportunities in the market as flexible PMOLED can be used as curved or bent to fit various form factors while transparent PMOLED displays enable new design possibilities for innovative applications which also create a good market for this product and increases the Passive Matrix OLED Market Growth.

PASSIVE MATRIX OLED MARKET SEGMENTATION

By Type

Based on type, the Passive matrix OLED market is segmented into:

Transparent Type: This type of PMOLED displays are made to see through, allowing light to pass through them which makes them suitable for applications such as heads-up displays and smart glasses.

Ultra-Thin: The ultra-thin type of PMOLED is significantly slim and lightweight which enables them to be integrated into compact devices such as wearable fitness trackers or smart watches.

By Application

Based on application, the Passive matrix OLED market is segmented into:

Wearable: In the market of wearable PMOLEDs are mainly used in smart watches, fitness tracker, and other portable devices due to their low power consumption and flexible display capabilities.

Small Accessories: In accessories such as key chains or jewelry in which PMOLED is incorporated it adds visual appeal or simple notifications as it is easy to fit in small accessories.

Sub-display: PMOLEDs are usually utilized as sub-displays in electronic devices such as smart phones which provide users additional information such as battery status and notifications.

Others: The PMOLED has various applications used in industries such as advertising signage, automotive displays, and medical devices so it has multiple applications that make it a right fit for the electronics market.

DRIVING FACTORS

"Increasing Adoption of Passive Matrix OLED Leads to Market Growth"

The rise in adoption of Passive Matrix OLED in several consumer electronic devices such as smartphones and wearable which drives the market growth due to multiple applications related electronics market as there is demand for lightweight and compact displays with low power consumption has driven the adoption of PMOLED technology in these devices as these displays offer advantages such as high contrast ratio, wide viewing angles and fast response time which contributes to its popularity as this technology consists of a matrix of organic LED pixels that are controlled by passive circuitry which lead to increase in demand as consumers demand these type of displays which has low power consumptions and it leads to manufacturing good quality of PMOLED by the manufacturer with investing more in R&D and it increases competition and also it increases the Passive Matrix OLED Market Share.

"Cost Effectiveness & Energy Efficiency Has Positive Impact on Market"

The Passive matrix OLED is usually more cost-effective to produce as compared to AMOLED displays due to their simpler structure and manufacturing process which results in cost-conscious manufacturers going for PMOLED displays as it is required for applications where fast refresh rates and high resolution are not necessary which drives demand in the cost-sensitive market. These PMOLED displays are best-suited for small-size displays such as wearable devices, fitness trackers, smart watches, and portable electronics, and to compact size and simplicity of PMOLED technology make it a perfect choice for manufacturers as they consume less power compared to AMOLED displays especially in low-motion and static content and it is efficient for battery-powered devices where minimizing power consumption is critical for extending battery life so it drives the market of electronic gadgets.

RESTRAINING FACTORS

"Limited Resolution & Limited Color Reproduction Lead to Negative Impact on Market"

Passive matrix OLED displays have lower resolution and slower refresh rates compared to AMOLED as the limitations restrict their suitability for applications that require high-definition visuals or fast-motion graphics such as high-end smart phones and gaming consoles which impact this market growth and ultimately decrease the use of these products by the manufacturer in the assembly of this type of display also impact as they switch over to the more advanced type of products to deliver in the market. This type of display has major limitations in color reproduction which results in reduced color accuracy and saturation as compared to AMOLED displays and it limits the suitability of PMOLED for applications where vibrant and accurate color representation is critical.

PASSIVE MATRIX OLED MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa.

"North America To Dominate The Region Due To Technological Innovations And Early Adoption Of Innovation"

This region is the largest market for passive matrix OLED as this region is the frontrunner for technological innovations and early adoption of emerging display technologies this region has a strong presence of leading display manufacturers, technology companies, and research institutions which fuels advancement in passive matrix OLED technology and product development in this region and this region is home of tech-savvy customers and large consumers for electronic products which includes wearable, smartphones, tablets and other portable devices such as fitness trackers, smart watches and other small-size displays which are popular among this region consumers and it ultimately boosts the electronics market in this region.

KEY INDUSTRY PLAYERS

"Key players  transforming the Electronic Market landscape through innovation, new development, and advancement of technology"

Major industry players are pivotal in shaping the Passive Matrix OLED market, driving change with innovation and technologies and it leads to making a product that has a global presence. By consistently introducing new and effective solutions that help to stay at the forefront of technological progress key players redefine the industry’s standards.

Expansive global reach enables market penetration, addressing diverse needs across countries. The groundbreaking and seamless innovation with the help of strategic footprint positioning leads to establishing quality and effective standards to make the market more competitive.

List of Market Players Profiled

• AU Optronics Corp. (Taiwan)
• BOE Technology Group Co., Ltd (China)
• CEC Panda LCD Technology Co. Ltd (China)
• Denistron Technologies plc (U.K)
• Hantronix Inc. (U.S)

INDUSTRIAL DEVELOPMENT

2022: Anders company launched passive matrix OLED for medical devices for hospitals and homes for personal healthcare, fitness, and wearable devices as it is a reliable and trusted healthcare brand that solves their most complex product design and developmental challenges so they now brings this product which has exceptional readability interface and responsive touch operation even with gloved hands and it can easily get connected with IoT devices and equipped with AI and cyber security.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Passive Matrix OLED market from multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.  This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies, and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.