According to a report by IDTechEx, OLED lighting will account for just 1.3 percent of the market size of LED lighting in 2023.
The difference between the two lighting technologies is that OLED lighting is a surface emission device. While OLED lighting offers unique design features, it may only find a niche market for certain applications due to it being less efficient and more costly than LED.
Right now, OLED lags behind LED in terms of efficiency with 20-50 lumens per watt (lm/W) compared to 90-100 lm/W in LEDs. OLED lights also offer fewer hours than LED.
Of course, OLED is still in its developing stages. “The growth of the OLED display industry will aid the OLED lighting sector with cheaper, higher performance devices over time.”