Micro-LED Display Market Analysis, Growth, Share, Industry Trends, Supply Demand, Forecast and Sales to 2023
Market Highlights
Market Research Future (MRFR) announces the publication of its half-cooked research report micro-LED display market 2018–2023
According to Market Research Future, the market for Micro-LED Display Market is segmented on the basis of application, panel type, vertical and region.
The increasing digital signage applications integrated with micro-LED components is expected to enhance the growth of this market during the forecast period. Most of the manufacturers are continuously investing in the R&D to enhance the functionality of electronic components, thereby boosting the growth of micro LED display market. Moreover, growing trend of miniaturization of electronics such as mobile phones, smart watches among others is encouraging manufacturers to adopt micro-LED component. However, the cost of micro-LED display is high as compared to OLEDs, which in turn is hampering the growth of this market. The micro-LED display market is in its nascent stage and thus lacks standardization in manufacturing procedures. In july 2018, Samsung announced that, it is ready for mass production of micro-LED displays for both commercial and home entertainment use. The Samsung micro-LED display uses flip-chip bonding technology which interconnects semiconductor devices like integrated circuit chips to external circuitry.
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Key Players
The prominent players in the micro-LED display market are 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), among others.
Industry Segmentation
In the study, the micro-LED display market has been segmented based on application, panel size, and vertical.
In terms of application, this market segment includes smartwatch, NTE devices, television, a head-up display, smartphone and tablet, monitor and laptop and digital signage.
In terms of panel size, this market segment includes micro-display, small- and medium-sized panel and large panel.
In terms of vertical, this market segment includes consumer electronics, entertainment & advertisement, automotive, aerospace & defense, and others.
Regional Outlook
According to the study, the market for micro-LED display globally has been studied under the key regions of North America, Europe, Asia-Pacific, and the Rest Of the World.
The Asia-Pacific’s market is leading and is being the fastest growing market with the presence of major leading LED component and display panel manufacturers here. The countries such as China, Japan, and South Korea are the key players who are into manufacturing micro-LED display products at a great extent. With this, the swelling investments of multinational companies in developing their manufacturing facilities in the Asia-Pacific region is also highly driving the growth of this market.
North American region for the market is booming considerably with the use of micro-LED in wearables, which is enhancing the growth of the market over the forecast period. Whereas, the increasing demand for electronic devices such as smartphones, tablets, and smartwatches have promoted the use of micro-LED display among the consumers have also helped the market to launch.
Europe is also leading with the micro-LED display market and following up the factors similar to the market of North America.
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Market Drivers & Trends
The market for micro-LED display is trending due to factors such as increasing demand for brighter display panels for electronic devices such as smartwatches, mobile devices, and AR/VR devices. These devices are enhancing the display, which enables an individual to enjoy many decent features with adequate brightness, clear, and modified without hurting the eye vision. In concern with this, the market is booming with more production demand over the years, which is also anticipated to surge in the assessment period.
As an add on, the Micro-LED Displays Market are more efficient and successful than LEDs and OLEDs in terms of power consumption and longer span of life, which is yet another crucial factor leading the market growth in the current time. On the other hand, rising demand for wearable displays for smartwatches and head-mounted displays (HMDs) are creating enough opportunities for the market to introduce and contribute to its growth rate.
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