Micro-LED Display Market: Current Analysis and Forecast (2022-2028)

The global Micro-LED Display Market is expected to grow at a growth rate of around 80% during the forecast period. Micro-LED is a display technology based on tiny (and thus micro-) LED devices used to directly generate color pixels. micro-LED displays have the potential to create highly efficient and attractive flexible displays that challenge current high-end OLED displays. Furthermore, micro-LEDs have a contrast ratio of 1,000,000:1, making them much brighter than OLED displays.

The global micro-LED display market is growing rapidly on the account of the increasing demand for brighter and more power-efficient display panels for consumer electronic devices, and the high adoption rate of micro-LED displays in premium smartphones. Moreover, factors such as the growing demand for wearable displays for smartwatches and head-mounted displays and the quickly growing consumer electronics industry are also contributing to the growth of the market. For instance, a total of 275 Mn units of wearable devices shipped globally in 2021 and this number is expected to grow exponentially due to the rising trend of using wearable devices.

Some of the major players operating in the market include: Apple Inc., Sony Group Corporation, Samsung Electronics Co. Ltd., Nanosys Inc., LG Corporation, AUO Corp., Meta Platforms Inc., PRP Optoelectronics Ltd, Tianma Europe GmbH, and VueReal Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst product, on-premises deployment segment to witness robust CAGR during the forecast period"

Based on product, the market is classified into large-scale displays, small and medium-sized displays, and micro displays. Among these, the small and medium-sized display segment captured a commendable share of the market and is expected to grow at a robust CAGR during the forecast period mainly owing to the high demand in the market for AR/VR devices, wearable devices, and wide range of smartphones. Further, micro-LEDs are preferred for small and medium-sized displays because they provide best-in-class picture quality compared to other display technologies.

"Amongst application, the smart and tablet segment to hold a significant share in the market in 2020"

Based on application, the market is divided into smartphones and tablets, PC and laptops, TV, smartwatches, and others. The smart and tablet segment catered to a prominent share of the global micro-LED display market mainly due to the increasing adoption of micro-LED displays among major smartphone and tablet manufacturers and a quickly growing smartphone industry. Further on, increasing investment in research and development activities and rising disposable income of consumers worldwide are some other factors contributing to the growth of this segment.

"Asia-Pacific to hold a significant share in the market"

Asia-Pacific is expected to grow at a strong growth rate during the forecast period. Rapid technological advancement in the electronics industry is one of the major factors driving the growth of the micro-LED display market in the region. In addition, major companies such as Sony Group Corporation, Samsung Electronics Co. Ltd., and others are investing heavily to expand their manufacturing capabilities to provide quality display panels at low prices.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

• The report presents a quick review of overall industry performance at one glance.

• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

• Deep dive regional level analysis of the industry.

Customization Options:

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