The global micro-LED market accounted for a value of USD 376 million in 2019 and is projected to register growth at a CAGR of 71.3% during forecast period.
COVID-19 has impacted the micro-LED market. The manufacturing have to halt its production due to lockdown and the supply chain of raw material and finished products is disrupted due to travel restriction. The demand from end-user industry is declining due to increasing cases of corona virus. The consumption and use of smartphones, TV and notebooks is decreasing and this decreases the market for micro-LED. The market growth is likely to boost post COVID-19.
For more details, visit: Global Micro-LED Market By Panel Size (Microdisplay, Large Panel, Others), By Application (Display and Lighting), By End-Users (Consumer Electronics, Aerospace & Defense, Others) By Region, Forecast & Opportunities to 2026
The demand for power efficient and brighter display panels is increasing. Various devices such as smart watches, VR, TV and smartphones uses display panels at large scale. The commercialization and development of micro-LED display technology is increasing to wide adoption around the globe. This drives growth in micro-LED market during forecast period.
On the basis of application, the micro-LED market is segmented into display and lighting. The display application is estimated to dominate the market during forecast period. The mico-LED display is widely used in various devices such as smartphones, television, smart watches, tablet, signage, head-up-display, laptop and others. The display technologies such as OLED, LED, dot LED and LCD are optimizing rapidly around the world. The use of various electronics gadgets such as laptop, smart watches, smartphones, VR and others are increasing in the world and this increases demand for display panel. Thus, drives growth in display application segment during forecast period.
On the basis of end-users, the micro-LED market is segmented into automotive, consumer electronics, aerospace & defense, advertising and others. The consumer electronics segment is estimated to hold largest market share during forecast period. The micro-LED display is widely used in consumer electronics segment. This display is used in various electronic gadgets which are widely adopted by the population around the world. The rapidly increasing technological advancement is widely adopted by consumer electronics. This drives growth in consumer electronics segment during forecast period.
North America region is estimated to hold largest market share during forecast period. The penetration of smartphones is widely increasing in this region and this increases demand for micro-LED. The use of smart watches and VR is also increasing rapidly in this region and this increases demand for micro-LED. There are various market players present in this region whose main focus is towards improving the micro-LED products and launching new and innovative products in the market. This drives growth in North America region during forecast period.
The key market players in micro-LED industry are Apple, Sony, Oculus VR, Samsung Electronics, X-Celeprint, Epistar, GLO AB, Verlase Technologies, Jade Bird Display Inc., Aledia, Lumens, Lumiode, Cooledge, Rohinni, CSOT, Nichia and Konka.
- What are the expected industry trends over the next three to five years?
- Which of the micro-LED application is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?