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24-11-27
South Korea is leading the global market for low-temperature polysilicon oxide (LTPO) OLED panel technology, ranking first worldwide in both the number of patent applications and the average annual growth rate over the past decade.
LTPO OLED panel technology is a core technology that significantly reduces power consumption in electronic devices such as smartphones and smartwatches, playing a vital role in extending battery life and enhancing power efficiency.
According to the Korea Display Industry Association, global LTPO OLED panel sales totaled $17.6 billion in 2023 and are projected to reach $22.2 billion in 2024, reflecting a year-on-year growth rate of 26.1%. In particular, LG Display and Samsung Display dominate the global market, together accounting for 86.8% of the global LTPO OLED panel market share.
According to the statistical data from the Korean Intellectual Property Office, the number of patent applications related to LTPO OLED panel technology filed with the IP5 patent offices grew at an average annual growth rate of 23.7% over the past 10 years (2013 - 2022), reaching 440 filings in 2022, compared to 65 filings in 2013. South Korea ranks first in the number of patent applications for LTPO OLED panel technology, accounting for 40.4% (1,052 filings) of the applications filed worldwide, followed by China with 27.9% (728 filings), Japan with 21.8% (568 filings), the US with 6.0% (156 filings), and the EU with 0.6% (16 filings). The average annual growth rate over the same period was highest in Korea (70.9%), followed by China (29.8%), the US (9.2%), Japan (4.3%), and the EU (0%). LG Display (24.9%, 649 filings) was the leading applicant, followed by Samsung Display (14.4%, 376 filings), BOE (14.3%, 373 filings), Semiconductor Energy Laboratory (SEL) (13.6%, 355 filings), and Apple (4.5%, 116 filings).