OLED screens are rapidly becoming the favorite among consumers and businesses alike: smaller, lower-power and with incredible color depth. Even with that in mind, it’s still surprising to see an unprecedented 131% year-by-year increase in OLED tablet panel sales, for the first quarter of 2024 alone. The trend is set to continue, with Q2 2024 set to smash the record set yet again.
Whilst OLED technology has been present for some time, it hasn’t been considered commercially viable until recently. As a lighting source, they are more expensive than traditional LEDs to manufacture, but are easily comparable in terms of efficiency and lifetime – and offer superior color quality. This means that smaller devices, such as tablets, are beginning to experiment with them as premium alternatives to LCD and IPS displays.
OLED sales stats are on the up
According to Display Supply Chain Consultants, a research company specializing in market trends for screen displays, 1.72 million OLED panels were shipped in Q1 2024. This was primarily thanks to Apple, making up 47% of that figure, using the units for the two new iPad models undergoing production. Other companies such as Huawei, Samsung and Microsoft made up the bulk of other shipments, manufacturing units such as the new Copilot+ PCs with OLED screens. The report states:
“There were 15 OLED tablet models procuring panels in Q1’24, up from 13 in Q4’23. The 13” M4 iPad Pro had the highest share on a procurement basis at 35% followed by the 11.1” M4 iPad Pro at 12.5% and the Mate Pad Pro 11 at 11%.”
Source: Digital Supply Chain Consultants (DSCC)
Though these figures are impressive in their own right, it doesn’t stop there – these figures are expected to keep climbing. The report predicts OLED uses will continue to climb, and estimates sales up until 2028. Though they are predicted figures, they truly highlight the market dominance of OLED. From 2023 to 2024, OLED market share went from less than 10% to just shy of 40%, and DSCC estimates that this will grow to more than half market-share by 2028.
Is OLED taking over?
As more and more screen-based platforms switch to OLED, from TVs to consoles, adopt OLED technology, this estimate may seem conservative. However, it’s easy to get caught up in the OLED craze. There is still a major market for IPS and LCD screens, which are more affordable to manufacture, and for customers. As such, the widespread adoption of OLED is unlikely to happen soon – but DSCC believes it almost certainly will happen. Their report predicts that reduced costs will bring OLED technology into the mainstream, and it will come to dominate the market in the years to come:
“The report also reveals total tablet units and revenues and OLED penetration of each out to 2028. DSCC expects OLED tablets to grow to 16% of the global tablet market on a unit basis and 55% on a revenue basis as prices fall and consumers recognize the visual performance advantages of OLEDs. DSCC expects OLED tablet display revenues to grow at a 72% CAGR vs. 10% overall with OLED tablet unit volumes growing at a 51% CAGR vs. 2% for the overall market.”
Source: Digital Supply Chain Consultants (DSCC)
What does this mean for consumers? If OLED becomes the dominant display format by 2028, as DSCC predicts, then we will likely see an accompanying price rise in tablets, TVs and other technology alongside it. Though this should hopefully be counterbalanced by a price fall in LCD screens for those needing budget-friendly options. We don’t think a time where LCD screens go the way of CRT is anytime soon, but this unprecedented rise in OLED shows that it is on the cards…
