Organic LEDs are expected to find niche applications in task lighting and decorative features
A new report from Navigant Research analyzes the global market for organic LED (OLED) lighting in residential and commercial buildings, with forecasts for unit shipments and revenue, segmented by vertical, product type, construction type, and region, through 2025.
Since mid-2015, OLED prices have been falling at a pace that is reminiscent of LED pricing trends. While OLEDs are not expected to ever beat LEDs in terms of price in the general market, price declines do signal that OLEDs will reach a low enough point that the benefits they offer in lighting quality and design aesthetic will make for a reasonable choice between the two. Click to tweet: According to a new report from @NavigantRSRCH, global unit shipments of OLED luminaires are expected to grow from an estimated 150,000 in 2016 to nearly 300,000 in 2025.
“OLEDs hold the promise to revolutionize architectural lighting through their superior aesthetic quality and new form factors,” says Benjamin Freas, principal research analyst with Navigant Research. “As prices have declined, OLED adoption has made inroads into the applications where a premium is placed on quality.”
Further reductions in the cost of OLEDs will make them more competitive and need to be the primary focus of manufacturers if the market share is to grow, according to the report. In the meantime, significant niches are expected to be carved out in task lighting, decorative fixtures, and accent lighting, where higher-priced products are acceptable to consumers when the perceived quality is worthwhile.
The report, OLED Lighting for Residential and Commercial Buildings, examines the global market for OLED lighting in residential and commercial buildings. The study provides an analysis of the market issues, technological developments, and regional trends, with a focus on task lighting, decorative fixtures, accent lighting, and general space lighting. Global market forecasts for unit shipments and revenue, segmented by vertical, product type, construction type, and region, extend through 2025. The report also examines the key technologies related to OLED lighting, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Lorenz
* The information contained in this press release concerning the report, OLED Lighting for Residential and Commercial Buildings, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.