The OLED market is expected to grow by a compound annual growth rate of 14% from 2019 to 2023, according to a report by Technavio. It will also reach $22.41 billion during the forecasted period.

The OLED market is concentrated with only a few key players controlling the market such as LG Electronics Inc. and Samsung Electronics Co. Ltd. The growing popularity of digital signage is the primary market driver for OLED.

During the forecasted period, 78% of the growth will come from the Asia-Pacific region, according to the report.

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