Micro-LED technology is a method of getting a brighter, higher contrast images from a device compared to conventional technologies. Till now, LEDs were used as a backlight for LCD screens. Rather than OLED technology, every device uses this technology of shining light through its pixels. But Micro-LED technology introduced system where they use LEDs which are very tiny that they are able to function as individual pixels. Pixel that is its own light source does not require any backlighting addition. This allows screens to be slimmer and images to be better controlled across the board. Some of the benefits of Micro-LED technology include greater color fidelity, wider contrasts, increased brightness, long lifespan, lower power conception etc. Microscopic LEDs are used to directly create color pixels. Micro-LED displays have higher potential to create efficient and attractive displays, to challenge the current OLED displays. Content can look different depending on which display technology a device has. Micro-LED technology has self-lit pixels that turn on and off to achieve perfect black and infinite contrast.
According to the research report “Global Micro-LED Market" published by Actual Market Research, Micro-LED market is projected to have higher growth with 81.49% CAGR by forecasted period. Increasing penetration of consumer electronics and network technologies are driving factors for rapid growth of Micro-LED market.
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Global Micro-LED market is segmented into different regions which are North America, Europe, Asia-Pacific and Latin America, Middle East Africa. Asia-Pacific region is expected to have higher market value share in forecast region. The growth of Micro-LED market in Asia-Pacific region is mainly driven by the rising demand for smart phones, smart watches, near-to-eye devices and the advertisement industry which require high definition displays. Micro LED technology encourages potential industrialists to invest in the new market. Micro-LED has become an attracting emissive display technology and pursued by players from various industries. As more and more players are plunging into the Micro-LED technology, they gradually choose to work with each other directly or in a large network. Many supply chain clusters are formed based on geography, with cross-continental collaboration increasing common.
Global Micro-LED market is segmented into major two applications which are display and lighting. Lighting technology is an emerging technology across the globe. Many companies and industries are applying lighting application into various innovations. Micro-LED technology has many options based on LED sizes for various purposes. This segmentation includes micro display, small medium display and large display. Small or mini display segment is expected to increase with more than 75% CAGR. Increasing adoption of wearable displays such as smart watches, near-to-eye devices etc is acting as driving force for the rapid increase of Micro-LED small display technology. With players holding various fields, they have different entry markets to target. In this report, various applications are explained such as augmented/virtual (AR/VR), large video displays (digital signage), television, smart watches, smart phones, monitors, head-up displays, laptop and emerging displays. Television segment is expected to have increasing market share by the forecast region. Impact of Covid-19 on Global Micro-LED market:
The Micro-LED market has been witnessing prominent growth over the years. The Covid-19 pandemic has impacted the demand for Micro-LED based products, especially in 2020. The pandemic has forced companies to adopt remote working services. The implementation of lockdown in almost all the major all the major countries to curb the spread of Covid-19 has disrupted the supply chain, halted manufacturing activities, impacted research and development activities which resulted into delayed production.
Major Companies present in the market:
LuxVue Technology (Apple Inc.), Oculus VR Inc. (Meta Inc.), Sony Corporation, Samsung Electronics Co., Limited, LG Display Co. Limited, Innolux Corporation, Epistar Corporation, Ostendo Technologies, Inc, JBD Inc., Rohinni LLC, Opt ovate Limited, Aledia SA, Plessey Semiconductors Limited, VueReal Inc. and ALLOS Semiconductors GmbH.
Considered in this report
- Geography: Global
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Aspects covered in this report
- Global market with its value and forecast along with its segments
- Region-wise Micro-market analysis
- Various drivers and challenges
- On-going trends and developments
- Top profiled companies
- Strategic recommendation
Regions covered in the report
- North America
- Europe
- Asia-Pacific
- Latin America, Middle East Africa
By Panel Size in the report:
- Micro Display
- Small Medium-sized
- Large Panel
By Application in the report:
- Display
- Smart watch
- Near-to-eye Devices (AR and VR)
- Television
- Smartphone and Tablet
- Monitor and Laptop
- Head-up Display
- Digital Signage
- Others
- Lighting
By End User in the report:
- Consumer Electronics
- Automotive
- Aerospace and Defense
- Other End Users
Table of Contents List of Tables
- Executive Summary
- Report Methodology
- Market Structure
3.1. Market Considerate
3.2. Market Definition
- Economic /Demographic Snapshot
- Global Micro-LED Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By End User
5.2.4. By Application
5.2.5. By Panel Size
….. Continue
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