Micro-LED Display Market 2019 Key Country, Opportunities, Growth, Competitive Landscape, Opportunities, Emerging Technologies and Regional Forecast To 2023

Micro-LED Display Market Research Report, by Application, (Smartwatch, Television, Smartphone & Tablet), Panel Size (Micro display, Small- Medium-Sized Panel), Vertical (Consumer Electronics, Entertainment & Advertisement)— Forecast till 2023

Market Highlights

The micro-led display is the essence of the electronics sector, where these are increasingly called to be more power-efficient than any other displays. According to Marker Research Future, the global micro-LED display market is anticipated to mark its valuation to USD 2,782.5 million till 2023 from USD 90.7 million in 2017, during the forecast period. The market will surge to gain this valuation at 82.7% CAGR. Micro-LED display’s ability to offer high-quality & effective display is making the market to gain much traction in the foreseeable years as it is backed by most eminent factors prevailing in the semiconductor industry.

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Key Players

The protruding players in the micro-LED display market are named as Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), LG Electronics Inc. (South Korea) Sony Corporation (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), and many more.

Market Drivers & Trends

The market for micro-LED display market is trending due to factors such as increasing demand for brighter display panels for electronic devices such as smartwatches, mobile devices, and AR/VR devices. These devices are enhancing the display, which enables an individual to enjoy many decent features with adequate brightness, clear, and modified without hurting the eye vision. In concern with this, the market is booming with more production demand over the years, which is also anticipated to surge in the assessment period.

As an add on, the Micro-LED Displays Market are more efficient and successful than LEDs and OLEDs in terms of power consumption and longer span of life, which is yet another crucial factor leading the market growth in the current time. On the other hand, rising demand for wearable displays for smartwatches and head-mounted displays (HMDs) are creating enough opportunities for the market to introduce and contribute to its growth rate.

On the flip side, some factors such as lack of standard procedures for manufacturing the micro-LED components is somehow hampering the growth of this market. With this, the factors such as low yield, high cost, and need for improving micro-led production and mass transfer processes are also posing as challenges that are being faced by manufacturers in producing the product. However, key players such as Apple Inc. (LuxVue), Oculus VR (InfiniLED), Sony Corporation, Samsung, X-Celeprint, Epistar Corporation, and GLO AB are continually focusing on developing cost-effective & high-quality display component for producing the product. Also, the adoption of inorganic strategies such as mergers and partnerships is to expand their geographic presence to broaden their customer base.

Industry Highlights

The emerging technology of micro-LED display market consists of tiny LED devices that creates highly efficient and bright pictures more than OLEDs. These features of micro-LED are thus, encouraging the manufacturers of handheld devices to implement this component in the devices. Thus, growing fondness of consumers towards micro-LED display is boosting this market.

Apple Inc., Samsung, and Sony have recently demonstrated their rising production of micro-LED display technology, which is anticipated that by the end of 2019, there would be high-end micro-LED products entering the market and would become the next-generation display technology. In the league, LG Electronics is also planning to bring in new series of micro-LED displays that can be used in many electronic devices like smartphones, laptops, and tablets for offering an efficient display to the customers.

Industry Segmentation

In the study, the micro-LED display market has been segmented based on application, panel size, and vertical.
In terms of application, this market segment includes smartwatch, NTE devices, television, a head-up display, smartphone and tablet, monitor and laptop and digital signage.
In terms of panel size, this market segment includes micro-display, small- and medium-sized panel and large panel.

In terms of vertical, this market segment includes consumer electronics, entertainment & advertisement, automotive, aerospace & defense, and others.

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Regional Outlook

According to the study, the market for micro-LED display globally has been studied under the key regions of North America, Europe, Asia-Pacific, and the Rest Of the World.

The Asia-Pacific’s market is leading and is being the fastest growing market with the presence of major leading LED component and display panel manufacturers here. The countries such as China, Japan, and South Korea are the key players who are into manufacturing micro-LED display products at a great extent. With this, the swelling investments of multinational companies in developing their manufacturing facilities in the Asia-Pacific region is also highly driving the growth of this market.

North American region for the market is booming considerably with the use of micro-LED in wearables, which is enhancing the growth of the market over the forecast period. Whereas, the increasing demand for electronic devices such as smartphones, tablets, and smartwatches have promoted the use of micro-LED display among the consumers have also helped the market to launch.

Europe is also leading with the micro-LED display market and following up the factors similar to the market of North America.

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