Global shipments of organic light-emitting diodes (OLEDs) totaled $3.2 billion in 2011 and $4.9 billion in 2012, according to a new technical market research report from BCC Research. Total OLED shipment value is expected to reach $20.3 billion in 2017 after increasing at a five-year compound annual growth rate (CAGR) of 32.6%.

The market for OLEDs can be broken down into three segments: displays, lighting, and sensors.

Displays, the largest segment in terms of cost, claimed $4.9 billion in 2012 and should total $19.6 billion in 2017, a CAGR of 31.8%. Lighting and sensors accounted for negligibly small shares in 2011 and 2012, and are expected to be worth $700 and $2.5 million, respectively, in 2017.

OLEDs are thin film devices that consist of organic layers sandwiched between electrodes. The basic principle behind organic light-emitting devices is electroluminescence; the material emits light in the presence of an electric current. This structure is different from the inorganic LED semiconductor approach, but both types are used for lighting, displays and microelectronic applications.

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