New Delhi, Mar 26 (IANS): The global smartphone display panel market recorded a revenue of $46 billion in 2021 and OLED display led the market.

OLED display panels saw increased adoption in the supply chains of leading smartphone OEMs (original equipment manufacturers), according to Strategy Analytics.

"We note more than 600 million OLED panels for smartphones were shipped to OEMs," said senior analyst Jeffrey Mathews.

The smartphone display panel recorded more than 5 per cent annual revenue growth.

Samsung Display dominated the market with 49 per cent revenue share, followed by BOE Technology with 16 per cent and LG Display with 8 per cent in 2021.

The top-three display panel vendors captured nearly 72 per cent revenue share in the global smartphone display panel market.

"The OLED segment continued to see strong momentum in terms of customer demand. However, the shortage of display driver ICs and increasing BOM restricted the growth of the OLED segment and allowed LCD panels to capture volumes," said Mathews.

Smartphone Display Panel technology is set to be a strong point of differentiation this year.

"We forecast intense competition for OLED displays as leading smartphone OEMs continue to seek more display suppliers to counter cost and supply challenges," said Stephen Entwistle, Vice President of the Strategic Technologies Practice.