ID: MRFR/SEM/5508-HCR | February 2021 | Region: Global | 100 pages
Micro-LED Display Market Size is estimated to grow by 82.7%. The micro-LED is an emerging advanced lighting technology with high growth potential. The traditional lighting systems are becoming outdated. The micro-LED is used in various devices such as Smartphone displays, watches, notebooks and TVs. The micro-LED is designed with an array of pixels that comes with light-emitting diodes.
Today, most OLED TVs can come with light-emitting features due to micro-LED. The display segment of the micro LEDA market is witnessing high demand in the forecast period. With high picture quality, power consumption and display feature that factors affect the micro-LED display market positively. Lighting with higher brightness is possible with lower costs in this advanced lighting technology. The wider benefits of this technology incline many end-users to utilise this technology.
Many electronics manufacturers benefits from using micro-LED for various purposes. More benefits of this technology are enhanced colour saturation, ultra definition and ultimate picture quality. The adoption of this advanced lighting system will be prevalent among electronic giants. Its features and wide applications are factors driving demand for the micro-LED display market. All these factors will lead to a high market value of 19,000 million in 2027.
The industries worldwide are suffering from the impacts of covid 19. This situation is slowing down the production rate of the micro-LED display market. There is short term disruption in the MICRO LED DISPLAYS. It is due to the lockdowns and restrictions the supply chain is facing difficulties. The demand from the end-users has reduced in this period. Especially, the demand from the electronics sector is less.
The micro-LED display market is unable to meet the demands due to restrictions in transport and delays in delivery. All these factors cause a declining trend in the micro-LED display market. The covid 19 is leading to uncertain activities in the market. All these factors are estimated to get better with less spread of the virus. In the upcoming years, the demand and supply of micro-LEDs will gradually rise. Also, massive development is expected post covid 19.
The rising demand for brighter and energy-efficient displays is a crucial driver of the micro-LED display market. The general use of LED light is growing in many regions. The traditional lights are less efficient and come at a high cost. From automotive to general lighting these LED display lights are suitable. Today, many electronic manufacturers prefer micro led display technology. For smartphones, cameras, television and AR/VR devices the use of micro-LED displays is increasing. Commercialization of the display technology will bring more demand and profitability to this market.
Especially, the big tech giants such as Apple and Samsung will have higher adoption of this technology. It will create more awareness for the product among key end-users. The smart watch segment of the micro-LED display market will have more commercialization in the upcoming years. Also, the adoption of micro-LED in premium smartphones will cause a more expansion rate for the micro-LED display market. Further, a wide range of applications of the micro-LED display will raise demand in various verticals. All these factors will increase the adoption rate of the technology.
Further, the rising Micro-LED Display Market Research is a factor that will lead to growth opportunities in the market. Today, LED displays to have a wide range of applications. Research investment by the key players leads to more growth prospects. The developments and product variations attract plenty of end-users toward this product. With higher research, the power-efficient and cost benefits will be higher for the micro-LED display market. The supply chain of the market will become stronger for the market in the forecast period.
The increased demand will lead to immense supply for the micro-LED display market. The launch of innovative products will lead to a demand from various verticals. Further, the inclination of premium brands to use transparent micro led display is leaving too many growth prospects. This inclination of the tech giants creates more awareness for the micro-LED display market. The growth opportunities will bring favourable changes in the overall LED market. Further, the revenue rates of the market are accepted to be exceptional in the forecast period.
The high cost of the micro led display companies is a factor restricting the market growth. Some of the LED micro displays come at a high cost. However, their life span and features are exceptional than the traditional displays. Many need users of the market to require cost-effective and high end technologies.
However, the cost of the light can have a declining effect on the market. As these LED displays are used in high-cost consumer electronics slight increase in the price makes the end product expensive. In many developing regions the adoption rate of the micro-LED display market can slow down due to cost issues.
The high investment required for the product is a significant market challenge. To adopt the micro-LED displays the manufacturers need to modify this production process. For every industry the micro-LED display manufacturing process is different. Even the material and fabrication of the LED displays are different for every industry. Also, the complexities in manufacturing micro LEDs are another challenge.
The production of these requires Mini LED display. The RGB based LED displays are mass-produced but are complex with small pixels. When mass-producing the technology for industries the market witnesses plenty of difficulties. These factors can affect the overall growth of the market. Also, the demand of the market can decline due to these factors.
The Micro-LED Display Market Trends is positive in the forecast period. Many factors continuously propel the growth of the market. Crucial market drivers such as the need for energy-efficient lights and high demand from consumer electronics will lead to more growth.
The Smartphone segment of the market is witnessing the highest demand in the forecast period. Further, the consumer electronics sectors are expected to record the fastest growth rate. Micro LED manufacturers are surging in the upcoming years. It will lead to high production and supply rates in the market. Furthermore, rising research and development investments will bring plenty of remarkable changes to the market.
The high cost of the product can bring a slight disturbance in the demand. Also, complexities in manufacturing can hamper the production rate. Amidst all these factors the growth rate is stable for the micro-LED display market.
North America is expected to witness a high growth rate in the forecast period. It is a region with the highest amount of micro-LED display market shares. The key contributors in this region are US and Canada. The US alone holds the maximum share in the North American region.
The consumer electronics sector has the highest demand for the micro-LED display market. The need for energy-efficient LED displays is higher in various industries of the market. Many tech giants in the region have higher adoption of micro-LED. In upcoming years, the investment rate is expected to be massive in North America.
The competition in the micro-LED display market is intensifying in the forecast period. There are plenty of innovations in the micro-LED market in the upcoming years. Product variation and cost-cutting measures are taken by key players.
The key regional players of the micro led display market in Asia Pacific, Europe and North America. The North American region will continue to outgrow another regional market in the forecast period. With high investments, the innovation in the market is higher. Also, the presence of top Micro LED manufacturers will bring plenty of remarkable developments in the market.
Asia Pacific region is another fastest-growing region in the micro-LED display market. Also, the expansion rate of the market is high in Asia pacific. The consumer electronics manufacturers are massive in this region. India, Japan and China are key end-users of the market. The profitability of the market will increase due to the performance of regional players.
The key players of the micro-LED display market are
|Market Size||USD 19,000 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, Panel Size, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), LG Electronics Inc. (South Korea) Sony Corporation (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France)|
|Key Market Opportunities||Growing demand of wearable displays for smartwatches and head mounted displays (HMDs).|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global market of micro-LED display is rising at 82.7% CAGR value to cross USD 19,000 Mn by 2027.
LG Electronics Inc. (South Korea), Samsung (South Korea), Sony Corporation (Japan), and X-Celeprint (Ireland) are some prominent players of the micro-LED display market.
In 2017, the micro-LED display market was recorded to be at worth USD 90.7 Mn.
The increase demand for consumer electronic with high power efficiency can cause the market of micro-display to thrive in the near future.
The high concentration of LED producers in APAC is expected to cause the micro-LED display market growth to spur.