The global Micro-LED Display Market size was valued at $56.0 million in 2020, and is projected to reach $23.38 billion by 2030, growing at a CAGR of 77.1% from 2021to 2030. Micro-LED display is an emerging technology, which provides high luminance in a small format. This display is preferred over TFT, LCD, and OLED displays, owing to the quality of image offered by it. Moreover, it offers reduced energy consumptions as compared to the conventional LCD and OLED display systems. In addition, micro-LED display is considered to have innate potential performance advantages over OLED and LCD displays such as lower latency, high contrast ratio, and high color saturation.
Rise in demand for bright and power-efficient display panels and increase in preference of electronic giants towards micro-LED displays are the significant factors that impact the growth of the global micro-LED display market. High price of micro LED display are expected to hinder the market growth. On the contrary, rise in demand for consumer electronics is anticipated to provide lucrative growth opportunities for the market.
The market is segmented based on product, application, industry vertical, and region. On the basis of product, the market is divide into small- & large-scale display, small- & medium-sized display, and micro display. By application, it is categorized into smartphone & tablet, TV, PC & laptop, smartwatch, and others. Depending on industry vertical, it is fragmented into consumer electronics, entertainment & sports, automotive, retail, government & defense, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Aledia, Apple Inc., eLux, Inc., Glo AB, LG Display, PlayNitride Inc., Rohinni LLC, Samsung Electronics Co. Ltd., Sony Corporation, and VueReal.
Rise in demand for bright and power-efficient display panels and increase in preference of electronic giants towards micro-LED displays are the significant factors that impact the growth of the global micro-LED display market. High price of micro LED display are expected to hinder the market growth. On the contrary, rise in demand for consumer electronics is anticipated to provide lucrative growth opportunities for the market.
The market is segmented based on product, application, industry vertical, and region. On the basis of product, the market is divide into small- & large-scale display, small- & medium-sized display, and micro display. By application, it is categorized into smartphone & tablet, TV, PC & laptop, smartwatch, and others. Depending on industry vertical, it is fragmented into consumer electronics, entertainment & sports, automotive, retail, government & defense, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Aledia, Apple Inc., eLux, Inc., Glo AB, LG Display, PlayNitride Inc., Rohinni LLC, Samsung Electronics Co. Ltd., Sony Corporation, and VueReal.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the global micro-LED display size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall micro-LED display market outlook is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The micro-LED display market forecast is quantitatively analyzed from 2021 to 2030to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
- The report includes the micro-LED display market share of key vendors and market trends.
Key Market Segments
By Product
- Micro Display
- Large scale Display
- Small and Medium-sized Display
By Application
- Smartphone and Tablet
- PC and Laptop
- TV
- Smartwatch
- Others
By Industry Vertical
- Consumer Electronics
- Entertainment and Sports
- Automotive
- Retail
- Government and Defense
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Germany
- Russia
- Rest of Europe
- Asia-Pacific
- China
- South Korea
- India
- Japan
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Aledia
- Apple Inc.
- eLux Inc.
- Glo AB
- LG Display
- PlayNitride Inc.
- Rohinni LLC
- Samsung Electronics Co. Ltd.
- Sony Corporation
- VueReal
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MICRO-LED DISPLAY MARKET, BY PRODUCT
CHAPTER 5: MICRO-LED DISPLAY MARKET, BY APPLICATION
CHAPTER 6: MICRO-LED DISPLAY MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: MICRO-LED DISPLAY MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Micro-LED Display Market,' the micro-LED display market size was valued at $56.00 million in 2020, and is estimated to reach $23.4 billion by 2030, growing at a CAGR of 77.1% from 2021 to 2030. At present, North America dominates the global micro-LED display market and Asia-Pacific is expected witness highest CAGR during forecast period. In 2021, China is expected to register the highest growth rate in the Asia-Pacific market. However, Germany is expected to lead the overall market in Europe in 2020.Micro-LED display is an emerging technology, which provides high luminance in a small format. This display is preferred over TFT, LCD, and OLED displays, owing to the quality of image offered by it. Moreover, it offers reduced energy consumptions as compared to the conventional LCD and OLED display systems. In addition, micro-LED display is considered to have innate potential performance advantages over OLED and LCD displays such as lower latency, high contrast ratio, and high color saturation.
The global micro-LED display industry is projected to register significant growth during the forecast period due to rise in demand for bright & power-efficient display panels and increase in preference of electronic giants towards micro displays. However, high cost of microLED display is expected to restrain the growth of the market.
The micro-LED display market analysis is provided on the basis of product, application industry vertical, and region. The product segment includes small- & large-scale display, small- & medium-sized display, and micro display. The application segment includes smartphone & tablet, TV, PC & laptop, smartwatch, and others. The industry vertical segment consists of consumer electronics, entertainment & sports, automotive, retail, government & defense, and others. Region wise, the micro-LED display market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The large-scale display segment was the largest contributor of revenue in 2020 and is expected to grow at a CAGR of 13.2% from 2021 to 2030, owing to growth in demand from entertainment & sports industry. However, based on industry vertical, consumer electronics is projected to lead the global market in the same year.
The market share in Asia-Pacific is expected to grow at a faster rate as compared to other regions. Factor such as increase in demand for consumer electronics in Asia-Pacific and benefits of micro-LED displays over OLED are the major factors driving micro-LED display market Growth in this region.
COVID-19 Impact Analysis
The global micro LED display market has been significantly impacted by the COVID-19 outbreak. Production facilities of micro LED display have been halted, owing to the slowdown and unavailability of workforce across the globe. However, the IMPACT OF COVID-19 on this market is temporary as only production and supply chain were stalled in 2020. As the situation has improved, production, supply chains, and demand for these products are expected to gradually increase in 2021. The current scenario is expected to provide opportunities for companies to think about ways to increase their production, research about technologies, and improve current products.
Key findings of the Study
- On the basis of product, the large-scale display segment is anticipated to dominate the global micro-LED display market share, in terms of revenue.
- The consumer electronics segment dominated the global micro-LED display market share in year 2020, owing to increase in demand for devices such as microled tv and smartphones.
- North America held the majority of market share in 2020 and Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period.
Companies Mentioned
- Aledia
- Apple Inc.
- eLux Inc.
- Glo AB
- LG Display
- PlayNitride Inc.
- Rohinni LLC
- Samsung Electronics Co. Ltd.
- Sony Corporation
- VueReal
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 77.03 million |
| Forecasted Market Value ( USD | $ 23380 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
