Institution: Expected year-on-year increase of 123% in OLED panel shipments in 2024
The latest report from Omdia shows that OLED display shipments increased significantly in 2023 after a year-on-year increase of 415% in 2022. This trend will continue, and Omdia expects OLED shipments to increase by 123% year-on-year in 2024, reaching 1.84 million units, driven by industry leaders Samsung Display and LG Display.
Nick Jiang, Chief Analyst of Omdia Display Research Practice, said, "OLED displays are mainly used for gaming, and with the first inclusion of esports in the 2023 Hangzhou Asian Games, OLED displays have gained further attention."
In addition, the COVID-19 epidemic has affected the behavior of consumers, leading to the trend of multi screen interaction between laptops and displays, as well as the growing demand of consumers for higher display specifications (including high resolution and refresh rate). Considering the management cycle and three-year after-sales service time of display products, Omdia expects the replacement cycle to gradually emerge from 2024.
Omdia stated that as consumers continue to demand higher display specifications and larger display sizes, the price of liquid crystal display (LCD) panels is expected to rise. This will narrow the price difference between LCD and OLED displays, indirectly making OLED technology easier to popularize. In addition, top display brands such as Dell, HP, Lenovo, Samsung, LG Electronics, AOC/Philips, Asus, Acer, MSI, and Gigabyte are all incorporating an increasing number of OLED displays into their 2024 product lineup. From a supply chain perspective, this trend helps to reduce costs for OEM and panel companies. The increase in OLED displays by panel companies can be evenly allocated to panel costs, leading to a decrease in panel costs. For OLED display OEM companies, due to multiple OLED display brand customers sharing mold costs, production costs can be reduced.
In addition, the COVID-19 epidemic has affected the behavior of consumers, leading to the trend of multi screen interaction between laptops and displays, as well as the growing demand of consumers for higher display specifications (including high resolution and refresh rate). Considering the management cycle and three-year after-sales service time of display products, Omdia expects the replacement cycle to gradually emerge from 2024.
Omdia stated that as consumers continue to demand higher display specifications and larger display sizes, the price of liquid crystal display (LCD) panels is expected to rise. This will narrow the price difference between LCD and OLED displays, indirectly making OLED technology easier to popularize. In addition, top display brands such as Dell, HP, Lenovo, Samsung, LG Electronics, AOC/Philips, Asus, Acer, MSI, and Gigabyte are all incorporating an increasing number of OLED displays into their 2024 product lineup. From a supply chain perspective, this trend helps to reduce costs for OEM and panel companies. The increase in OLED displays by panel companies can be evenly allocated to panel costs, leading to a decrease in panel costs. For OLED display OEM companies, due to multiple OLED display brand customers sharing mold costs, production costs can be reduced.