The global micro-LED display market size reached US$ 455.3 Million in 2023. Looking forward, the publisher expects the market to reach US$ 37.45 billion by 2032, exhibiting a growth rate (CAGR) of 63.23% during 2023-2032.
A micro-light emitting diode (LED) display is a screen with microscopic LEDs of different colors arranged in an array. It is manufactured using gallium nitride, which allows the scattering of red, green, and blue (RGB) LED lights to glow brighter for a prolonged period. It offers high wavelength uniformity, increased brightness, ultra-high definition (UHD) picture quality, and improved color saturation. It also aids in reducing power consumption and offering a longer lifespan and better contrast and response time compared to other conventional technologies. As a result, micro-LED is widely used in smartwatches, micro-projectors, and ultra-high-definition (UHD) televisions (TVs).
In line with this, due to low power consumption characteristics, micro-LEDs are gaining immense attention in visible light communication (VLC) technology for marine exploration and underwater connectivity, which is offering lucrative growth opportunities to manufacturers. Besides this, leading manufacturers are extensively investing in research and development (R&D) activities to resolve the high-cost and complicated manufacturing processes. They are also focusing on miniaturizing size and minimizing inspection and repair time to enhance production yield. In addition, the adoption of highly efficient micro-LEDs suitable for augmented reality (AR) and virtual reality (VR) is anticipated to drive the market.
2. What is the expected growth rate of the global micro-LED display market during 2024-2032?
3. What are the key factors driving the global micro-LED display market?
4. What has been the impact of COVID-19 on the global micro-LED display market?
5. What is the breakup of the global micro-LED display market based on the product?
6. What is the breakup of the global micro-LED display market based on the application?
7. What is the breakup of the global micro-LED display market based on industry vertical?
8. What are the key regions in the global micro-LED display market?
9. Who are the key players/companies in the global micro-LED display market?
A micro-light emitting diode (LED) display is a screen with microscopic LEDs of different colors arranged in an array. It is manufactured using gallium nitride, which allows the scattering of red, green, and blue (RGB) LED lights to glow brighter for a prolonged period. It offers high wavelength uniformity, increased brightness, ultra-high definition (UHD) picture quality, and improved color saturation. It also aids in reducing power consumption and offering a longer lifespan and better contrast and response time compared to other conventional technologies. As a result, micro-LED is widely used in smartwatches, micro-projectors, and ultra-high-definition (UHD) televisions (TVs).
Micro-LED Display Market Trends:
At present, improving standards of living and inflating disposable income levels of individuals represent one of the key factors positively influencing the market. In addition, the escalating demand for consumer electronics and shifting consumer preferences toward bright power-efficient display panels for high-quality lighting and minimal maintenance and energy cost are increasing the sales of micro-LED displays. Apart from this, favorable government initiatives to promote electronic manufacturing are currently supporting the market growth.In line with this, due to low power consumption characteristics, micro-LEDs are gaining immense attention in visible light communication (VLC) technology for marine exploration and underwater connectivity, which is offering lucrative growth opportunities to manufacturers. Besides this, leading manufacturers are extensively investing in research and development (R&D) activities to resolve the high-cost and complicated manufacturing processes. They are also focusing on miniaturizing size and minimizing inspection and repair time to enhance production yield. In addition, the adoption of highly efficient micro-LEDs suitable for augmented reality (AR) and virtual reality (VR) is anticipated to drive the market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global micro-LED display market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on product, application and industry vertical.Breakup by Product:
- Micro Display
- Large Scale Display
- Small and Medium-sized Display
Breakup by Application:
- Smartphone and Tablets
- PC and Laptop
- TV
- Smartwatch
- Others
Breakup by Industry Vertical:
- Consumer Electronics
- Entertainment and Sports
- Automotive
- Retail
- Government and Defense
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aledia, eLux Inc., Innolux Corporation, Jade Bird Display, LG Display Co. Ltd. (LG Electronics Inc.), Lumens Co. Ltd., Nanosys Inc., PlayNitride Inc., Plessey Semiconductors Ltd., Samsung Electronics Co. Ltd., Sony Group Corporation and VueReal.Key Questions Answered in This Report
1. What was the size of the global micro-LED display market in 2023?2. What is the expected growth rate of the global micro-LED display market during 2024-2032?
3. What are the key factors driving the global micro-LED display market?
4. What has been the impact of COVID-19 on the global micro-LED display market?
5. What is the breakup of the global micro-LED display market based on the product?
6. What is the breakup of the global micro-LED display market based on the application?
7. What is the breakup of the global micro-LED display market based on industry vertical?
8. What are the key regions in the global micro-LED display market?
9. Who are the key players/companies in the global micro-LED display market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Micro-LED Display Market
6 Market Breakup by Product
7 Market Breakup by Application
8 Market Breakup by Industry Vertical
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Aledia
- eLux Inc.
- Innolux Corporation
- Jade Bird Display
- LG Display Co. Ltd. (LG Electronics Inc.)
- Lumens Co. Ltd.
- Nanosys Inc.
- PlayNitride Inc.
- Plessey Semiconductors Ltd.
- Samsung Electronics Co. Ltd.
- Sony Group Corporation
- VueReal.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 0.46 Billion |
| Forecasted Market Value ( USD | $ 37.45 Billion |
| Compound Annual Growth Rate | 63.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
