PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070396
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070396
The Micro LED Display market is estimated to be worth US$ 160.4 million in 2020. Micro LED Display market is expected to expand at a 51.3% CAGR during the forecast period.
Market Introduction
Micro-LED displays are a type of display in which each pixel is made up of a series of minuscule light-emitting diodes. For fine pixel pitch displays, micro-LED displays provide great wavelength uniformity. In comparison to OLEDs and LCDs, it also has the advantages of high brightness, better picture quality, lower power consumption, faster response time, and improved color saturation.
Market Dynamics
The rise in demand for power-efficient display panels, as well as the preference of electronic giants for micro-LED displays, are major influencing factors in the micro-LED display market. The expensive cost of micro-LED displays, on the other hand, is projected to stifle the market's growth. In contrast, an increase in consumer electronics demand is expected to create high growth market opportunities for micro-LED displays market opportunity. The COVID-19 pandemic had a negative impact on the global micro-LED display sector. New projects have been halted around the world, affecting demand in a variety of industries, including manufacturing, industrial, and retail. Although due to the supply chain disruption the key market players faced little difficulty obtaining raw materials on time and transportation costs remained a major problem.
Segmentation Analysis
The Micro LED Display Market is segmented by the display, application, industrial vertical, regional distribution, and competitive landscape. Based on application, Smartphone and Tablet segment occupy the largest share of the market followed by PC. One of the main contributors to the adoption of micro-LEDs globally is the increasing penetration of smartphones. Smartphone sales have been steadily increasing in the United States in recent years. According to Statista, more than 25 million people in Canada possessed a smartphone in 2018. In addition to this, according to a March 2021 survey of internet users in Canada, 86& of the total respondents access the internet with a PC or laptop. The smartwatch segment is expected to witness a growth of 7.5% during the forecast period. The growing popularity of smartwatches is projected to boost the micro-LED market's adoption. In order to capitalize on the expanding potential of these gadgets in the region, companies like LG Electronics are preparing to debut a new smartwatch alongside its distinctive LG V40 ThinQ smartphone in the United States.
Apple Inc. was also given patents by the US Patent and Trademark Office, with improved Micro LED displays accounting for 99.9% of the patent. Manufacturers of smart wearables are aiming to expand their product line by introducing small screens devices in response to rising demand. Small display panels are used by smart wearable makers in products such as watches, bracelets, and smart eyewear.
Competitive Landscape
The global micro-LED Display market is dominated by a few players in the market, it is expected that development and research in the manufacture of tiny LEDs will result in disrupting the future of display technologies. Owing to this, the quantity of patents as well as market participant acquisitions of microLED developers/foundries has increased in recent years. As a result, there is a moderate level of competitive rivalry, which is likely to increase over time. Innolux Corporation, Sony Corporation, and LG Display are some of the market's major companies. The key market players in the market are adopting various strategies such as new product launches, mergers, acquisitions, and partnerships to strengthen their presence in the market. For instance, in 2018, Sony demonstrated its recent advancement in microLED display technology at the NAB 2018 conference in Las Vegas.
Key features of the study:
This proposed research study on Micro LED Display market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Micro LED Display market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Micro LED Display market.
Impact of COVID-19 on Micro LED Display market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Micro LED Display market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Micro LED Display market, we have also included competitive landscape and key innovator analysis for the Micro LED Display market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Micro LED Display market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The Micro LED Display market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Micro LED Display Market Key Players
Sony Corporation
PlayNitride Inc.
Samsung Electronics Co. Ltd.
Apple Inc.
eLux Inc.
Aledia
Glo AB
Rohinni LLC
LG Display
Micro LED Display Market by Display
Micro Display
Small and Medium-sized Display
Large scale Display
Micro LED Display Market by Application
PC and Laptop
Smartphone and Tablet
TV
Smart devices
Others
Micro LED Display Market by Industry Vertical
Consumer electronics
Automotive
Entertainment and Sports
Retail
Government
Others
Micro LED Display Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa