Global Micro-LED Market Size to grow USD 35470 Million by 2030 | CAGR of 80.8%Category: Semiconductors & Electronics
Global Micro-LED Market Value to Exceed $35,470 million by 2030
According to a research report published by Spherical Insights & Consulting, The Global Micro-LED Market Size is to grow from USD 610.7 million in 2021 to USD 35,470 million by 2030, at a Compound Annual Growth Rate (CAGR) of 80.8% during the forecast period. The increasing use of micro-LED displays or panels in various industries such as consumer electronics, entertainment & advertisement, retail, automotive, aerospace & defence, and others will boost the demand for the micro-LED market.
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Browse key industry insights spread across 198 pages with 121 market data tables and figures & charts from the report on the "Global Micro-LED Market Size, Share, and COVID-19 Impact Analysis, By Display Size (Large Display, Small & Medium Display, Micro Display), By Application (Display [Smartwatch, NTE Device, Smartphone & Tablet, Television, Digital Signage, Monitor & Laptop, Others], Lighting [General Lighting, Automotive Lighting]), By End-Use (Consumer Electronics, Entertainment & Advertisement, Retail, Automotive, Aerospace & Defense, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030” Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/micro-led-market
Micro-LED displays consume significantly less energy than normal LCD panels while delivering high-resolution light control and a high contrast ratio. Because of its inorganic nature, it has a longer lifespan than OLEDs, allowing devices to display brighter images with less risk of screen fire. The improved eye comfort provided by this display technology over other display technologies is driving the rising demand for it. This is accomplished by the use of surface light, which allows for the flat scattering of light beams. Rising demands for high-end and technologically advanced audio and visual products, as well as energy-saving displays, as well as the growing popularity of electronic gadgets from key companies such as Apple, Sony, L.G., and Panasonic, are drivers driving the expansion of the micro-LED market. GaN Micro-LED is projected to become a popular product in the long term because to the high rate of technical advancement and changes in client demand. Furthermore, the rise in new consumer needs is expected to have an impact on the global GaN Micro-LED market over the forecast period.
The micro display segment accounted the largest market share over the forecast period.
On the basis of display size, the global micro-LED market is segmented into large display, small & medium displays, and micro display. Among these, the micro display segment is dominating the market and is going to continue its dominance over the forecast period owing to its widespread use in applications such as smartwatches, smartphones, and near-to-eye gadgets. Micro-LED devices are much smaller in size, allowing them to be used in compact devices such as smartphones and tablets. Furthermore, the growing popularity of smart display systems is a primary driver of revenue development in this market.
The NTE device segment is dominating the market with the largest revenue share over the forecast period.
On the basis of protocol type, the global micro-LED market is segmented into the display – smartwatch, NTE device, smartphone & tablet, television, digital signage, monitor & laptop, and others, as well as lighting – general lighting and automotive lighting. Among these, the NTE device segment is dominating the market with the largest revenue share of 31.5% over the forecast period, owing to increased applications in near-to-eye devices which include AR and VR headsets. With AR/VR technologies becoming more widely used in video games, healthcare, and multimedia technologies, modular and comparatively small displays with great brightness and low cost become more attractive.
The consumer electronics segment accounted the largest revenue share of more than 65% over the forecast period.
On the basis of end-use, the global micro-LED market is segmented into consumer electronics, entertainment & advertisement, retail, automotive, aerospace & defense, and others. Among these, the consumer electronics is dominating the market with the largest revenue share of 65% over the forecast period. Increasing policy actions in various countries is a significant factor driving revenue growth in the micro-LED market. A substantial number of start-ups with significant R&D investments have lately developed in the consumer electronics industry, which is expected to raise market demand for micro-LEDs over the projection period. Furthermore, the rise of automated and user-friendly domestic equipment has increased consumer electronics' global expansion.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 58.3% market share over the forecast period. Increasingly expanding smartphone penetrations, as well as substantial technological developments in the technology business, are important elements driving this region's market commercial growth. Furthermore, the presence of numerous manufacturers in the area allows for a cost-effective transition from standard panels to micro-LED screens.
On the other hand, North America is predicted to expand the fastest during the forecast period. Europe is expected to have the third-highest market growth in 2021. The expanding automotive market is a major source of market revenue growth.
Major vendors in the Global Micro-LED Market include Aledia SA, Mikro Mesa, Apple Inc., VueReal Inc, Sony Corporation, Samsung Electronics, X-Celeprint, Nanosys, eLux, Inc., Oculus VR, PlayNitride Inc., VueReal, Ostendo Technologies, Inc., MICLEDI, Avicena, Microluce, Epistar Corporation, Innolux Corporation, Jade bird display, Verlase Technologies, Rohinni, Nanosys, Inc., LG Display Co. Ltd, Allos Semiconductors, Plessey Semiconductors Ltd., Nanosys, Lumens.com, Inc., and many others.
Key Market Developments
- On January 2023, Samsung unveiled its 2023 micro-LED TV collection, which includes models ranging in size from 50 to 140 inches. The TVs will remain pricey, but Samsung is likely to lower its costs, and it will also be able (finally) to self-install the TVs. MicroLED CX TVs will be available in 50-, 63-, 77-, 89-, 101-, 104-, and 140-inch sizes. The key advantage of these Televisions over current OLED TVs is believed to be brightness - it will be interesting to discover about the peak brightness of the CV TVs, as LG's latest OLEDs and Samsung's own and latest QD-OLED panels hit over 2,000 units in brightness.
- On August 2022, Rohinni, a leading provider of sophisticated component placement solutions, announced a collaboration with BOE Pixey, a joint venture between Rohinni and BOE, a global leader in the semiconductor display business. This collaboration represents both firms' firm commitment to elevating display production to new heights. The miniLED and microLED placement market is quickly expanding, and we are committed to capitalizing on Rohinni's leadership in developing the most advanced placement equipment available.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Micro-LED Market based on the below-mentioned segments:
Micro-LED Market, Display Size Analysis
- Large Display
- Small & Medium Display
- Micro Display
Micro-LED Market, Application Analysis
- NTE Device
- Smartphone & Tablet
- Digital Signage
- Monitor & Laptop
- General Lighting
- Automotive Lighting
Micro-LED Market, End-Use Analysis
- Consumer Electronics
- Entertainment & Advertisement
- Aerospace & Defense
Micro-LED Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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