Market research company DSCC has updated their OLED models, as the company sees more capital spending then before and a larger OLED market going forward.
The OLED market in general will grow 57% in 2017, according to DSCC, to reach $23.2 billion. Growth will continue to be strong with a 50% increase in 2018 (to $34.9 billion) and a CAGR of 27% from 2016 to 2022. In 2022 the market will surpass $60 billion.
Specifically for the OLED TV market, DSCC sees LG increasing its capacity and shifting its product mix to meet demand. OLED TV panel shipments will grow at a CAGR of 49% between 2016 to 2022 to reach 9.5 million units (and $5.9 billion in sales).
The main market for OLED displays will remain smartphone displays - in 2022 this market segment alone will generate $54 billion in revenues - with a market share of at least 85%. OLED technology will overtake LCD in 2020 and by 2027 all smartphones will adopt OLED displays - apparently DSCC does not believe in any next-gen display technology that may replace OLED or at least compete with OLEDs in the future...
DSCC sees a small oversupply situation situation developing, where there will be about 11% surplus capacity in 2018 and 16% in 2019. But apparently this won't stop OLED makers from increasing capacity all through 2022. In the chart above, DSCC shows its forecast for OLED equipment spending share by producer.