Market Dynamics- Restraints
High cost associated with LED and OLED displays has shifted consumer preference towards LCDs. Although LED and OLED displays offer superior performance, consumers are choosing LCD due to its satisfactory performance at lower price. This, in turn, is expected to restrain growth of the Africa LED & OLED displays and lighting products market during the forecast period. Moreover, lack of awareness regarding benefits of modern lighting solutions among consumers is expected to hinder the market growth over the forecast period.
Market Opportunities
OLEDs are expected to pose conducive growth opportunities for market players. OLEDs offer flexibility, transparency, and surface light source. Key players in the market and startups are offering LED and OLED products, which in turn, is expected to pose excellent growth opportunities for them. Furthermore, proliferation of LED lighting products is increasing though its market share is less than fuel-based lighting system. This offers excellent opportunities for LED lighting products manufactures. According to Lighting Africa, as of 2012, off-grid lighting products accounted for 4% with growth rate of 90-95% annually and sales of 4.4 million unit.
Africa LED & OLED Displays and Lighting Products Market Report Snapshots
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