With LED light bulbs becoming more mainstream, companies have begun to look into developing OLED (Organic Light Emitting Diode) technology as the new ‘breakthrough’ lighting. It is energy efficient like LED light bulbs but smaller and therefore more flexible meaning even greater possibilities. OLED has some other advantages over LED in terms of light quality, panel weight and heat distribution. With recent advancements in OLED technology the market is beginning to rise, according to IHS,
Another reason the market will rise is due to the gradually reducing cost of manufacturing the product, which was OLED light bulbs main disadvantage. However, prices of OLED light bulbs are expected to decrease by 40% over the course of the next 7 years. IHS estimate that the OLED market will be about $26 million in 2020, nearly 10 times greater than the current market which is worth $2.7 million.
However, OLED light bulbs remain more costly than their LED counterparts and though prices are falling, manufacturers are facing challenges in terms of efficiency, life expectancy and brightness.
It is most likely that LED light bulbs will remain more dominant in the market than OLED light bulbs and the ever-increasing technology development means OLED light bulbs may never catch up to the advantages of LED light bulbs.