The global AMOLED display market is likely to experience a rapid growth over the next couple of years as demand for the panel technology grows at an exponential rate, according to a new report by BusinessKorea, citing industry sources. In terms of the number of AMOLED panel units expected to be shipped over the next five years, the report projects the total shipments to reach 1.5 billion by 2022 up from 422 million last year. This year alone, industry reports indicate that a total of 473.8 million AMOLED panel units are set to be shipped, which translates to a 12.3 percent increase in the market growth rate compared to the previous year. Additionally, the growth rate of the AMOLED display market is projected to hit 23.1 percent in 2022.
There are a couple of major contributors to the market's projected growth, chief of which is the popular trend of incorporating AMOLED displays into smartphones. Further to that, manufacturers are also aiming to incorporate this type of display tech into hybrid tablets, smartwatches, and automobiles, thus creating additional demand for AMOLED displays. By the same token, display makers are increasingly growing their stake in the AMOLED panel market, with LG Display, BOE Technology, and Tianma Micro-electronics having reportedly kicked off mass production for their small-sized flexible AMOLED panels in the second half of the year. The move is believed to be part of a concerted effort to up the ante in the AMOLED display segment amid growing competition with existing market leaders like Samsung Display.
In April of this year, South Korean rivals Samsung and LG announced their plans to ramp up their AMOLED display manufacturing capacities. For its part, Samsung aims for the increased AMOLED production to meet the demand for AMOLED displays for the future generation of iPhones after the South Korean tech giant inked a two-year contract with Apple which has been rumored to be fully transitioning its iPhone line of mobile devices to AMOLED displays in the near future. On the other hand, LG plans to incorporate flexible OLED panels into its next-generation smartphone products, as well as supply OLED panels for Sony's TVs.