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The consumer electronics industry is characterized by a high level of diversity, creativity and flexibility. It includes technological solutions ranging from commercially viable and mass-produced devices to experimental technologies that are in the early stages of being transferred from academic and private research institutions and consortiums to viable profit-seeking enterprises.
Solid-state lighting products such as LED and OLED have a wide array of application in consumer electronics. The current OLED technology provides remarkable color fidelity, high efficiency and operational stability. Many mobile phone manufacturers have introduced OLED screens in recent years. Television display technology has evolved from LED to OLED and QLED (quantum dot light emitting diode). At present, all companies are working on OLED displays to make their products smart.
The OLED technology enables the ultra-thin displays to reach dark black levels, while remaining more efficient and eco-friendlier than other display technologies. OLED displays are also widely used in digital camera screens or electronic viewfinders. Manufacturers of wearable technologies have also started using OLED technology, as it can bring the advantages of thinner and curved display form factor to wearable devices.
Smart home devices, AI, AR and VR are some of the major trends which are going to drive the consumer electronics industry in the coming future. The evolution in cellular communication is set to introduce a prominent niche for these devices. The developing and developed economies such as China, Japan, U.S., U.K., Germany, Australia, Canada, and India, are expected to see an increasing demand for these devices. With some of the eminent players concentrating on developing these technologies the consumer electronics market is expected to grow at a significant rate during the forecast period.