Micro LED Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029

Increasing demand from automotive HUDs to bolster the market growth

The Micro LED market worldwide is expected to grow with a CAGR of 81.9% during the forecast period from 2021 to 2029. A developing flat display technology is called a micro-LED display, which provides invincible contrasts as well as supreme energy efficiency via microscopic LED arrays. It operates on the gallium nitride principle, which delivers extraordinary brightness, even more than an OLED display. Micro-LED display provides 30 times higher brightness and invincible efficiency than conventional OLED displays. Other advantages offered by micro-LED display include compact display size, improved contrast as well as exceed response time. Micro-LED display's global demand is still in its emerging state. It is anticipated that rising demand for energy efficient and brighter displays will drive the micro-LED display market over the timeframe. There is a worldwide flourishing demand for micro-LED displays which are extensively compact in size with excellent viewing angle. Micro-LED display implementation is currently at its peak, providing a brighter picture with high pixel resolution and unsurpassed energy efficiency.


VR headsets to lead the global micro LED display demand

The demand for highly efficient HMDs and functionality improvements to support the ongoing roll-out of high-quality VR content is currently pushing the acceptance of micro LEDs in comparison with traditional DLP and LCOS technologies. Increasing this trend has acquired an InfiniLED from Oculus, an Irish micro LED company, the virtual reality headset provider owned by Facebook. As per Intel, the AR / VR market's revenue opportunity remains strong, with headset hardware sales projected to exceed $48 billion by 2022. Such trends give the market studied over the forecast period a strong growth potential.

Asia Pacific to Register the Fastest Growth

Because of the flourishing consumer electronics industry, Asia Pacific is projected to witness speedy market growth in the coming years. Conventional light is being replaced by LED lighting in emerging economies such as India and China, which contributes significantly to the region's market. In addition, awareness of the benefits of micro-LED displays has fascinated many manufacturers of lighting. Rising investments done by LED manufacturers to improve LED display technology are expected to drive the micro-LED display market significantly in the future.

The growing number of advanced smartphones in Latin America plays a crucial role in driving the display market for micro-LEDs. This regional growth can be attributed to the compact size and high micro-LED display resolutions as well as enormous investments made by various smartphone manufacturers to integrate micro-LED displays.

Some of the prominent players operating in the micro LED market include Sharp Electronics, Samsung Electronics, Sony, LG Display, VerLASE Technologies, AU Optronics, Apple, Inc., Lumiode, Rohinni, X-Celeprint, Epistar, Oculus VR, Aledia, Lumens, Nichia, Cooledge Lighting, Plessey Semiconductors, JBD, VueReal, Ostendo Technologies, Uniqarta, ALLOS Semiconductors, PlayNitride and Mikro Mesa Technology among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What are the major impacts on micro LED market of increasing demand for AR and VR devices?
• What are the major, innovative & emerging technologies in the global display industry?
• What is the major vertical in which micro LED plays a significant role?
• How are millennial expanding the demand for micro LEDs through different applications?

Unique data points of this report

• Major drivers, challenges, restraints and key trends of the global micro LED market
• Segmentation by application, and lighting is provided with its regional shares.
• The study provides thorough market size and forecasts for all the above mentioned segments.
• The study comprise of the company profiles of key players in the micro LED market.

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