Micro-LED Market

Micro-LED Market Overview

Micro-LED is a technology used in a display that consists of microscopic light-emitting diode (LEDs) arranged to form an individual pixel element. Each micro pixel of micro-LED emits light (pixel) to produce the picture and add a different color. One of the biggest advantage of microLED is that it is highly power-efficient. The Micro-LED is available in three panel size, including micro display, small & medium sized panel, and large panel. The MicroLED are brighter as compared to the ordinary OLEDS.

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Major Micro-LED Market Drivers

Increasing demand for more power-efficient display screens in smartwatches, smart devices, and AR/VR devices is the key factor contributing to the growth of the global Micro-LED market. Various multinational giants are focusing on technological development to capture the growing demand of the market. In addition to this, the drastic rise in the demand for consumer electronics will further create numerous growth opportunities in the market. The Micro-LED have significantly brighter light, provides ultrahigh definition picture quality, improves color saturation, and consumes less energy as compared to OLEDs and LCDs. Moreover, the increasing penetration of smart devices such as smartphones, iPad, laptops, and television, will further propel the demand for Micro-LED market at the global level. However, the easy availability of cheaper substitute products such as OLED will restraint the growth of the market globally.

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Based on the Application, the market is segmented into display and lighting. Among these, the lighting segment is anticipated to lead the market over the forecast period owing to the increasing demand for general lights, including lights used in kitchens, hallways, bathrooms, and other places of the home. This strong demand is driven by the rising population rate and the continuous infrastructural development in the world. Moreover, the rising emphasis of various governments towards the adoption of LED light to conserve energy and to reduce cost of the electricity bill is further surging the demand for general LED lights used in homes. The market players, including Philips and Cree, are developing attractive designs, thereby creating new opportunities.

Based on the Verticals, the market is segmented into Consumer Electronics, Advertisement, Automotive, Aerospace & Defence, Energy & Power, Architecture & Construction, Entertainment & Sports, Retail, Residential, and Others. Among these, the Automotive segment is projected to grow at a higher CAGR during the forecast period due to the increasing demand for smart headlights in personal cars and other type of vehicles. Micro-LEDs is used in vehicles to control the light beam while providing better level visibility to the driver in the night.

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Regional – Segment Analysis

Based on the region, Asia-Pacific region is anticipated to lead the market during the forecast period due. The Asian countries are the biggest producer and consumer of display panels. The rapid technological advancement in the display devices and the large presence of market players such as Apple and Sony Corporation, is the major factor surging the growth of the market. The increasing demand for smartphones, tablets, laptops, and television will have a positive impact on the growing demand of the market.

Top Market Players

Various notable players in the market includes Sony Corporation, Apple Inc., Philips Lighting N.V., Samsung Electronics Co., Ltd, LG Electronics Co., Ltd, Glo AB, JBD Inc., Aledia, Epistar Corp, X-Celeprint, among others.

Key Developments:

• • In 2019, Sony Corp launched the new 16K Crystal LED modular TV with Micro-LED panels. This Sony Crystal LED display system will provide an unforgettable home theatre experience to its viewers.
  • In 2020, Apple Inc., announced the launch of its Apple Watch Series 6 to be released in September 2020. This new series 6 has micro-LED, blood oxygen detection, and other innovative features.

Segments covered in the Report:

The global Micro-LED market has been segmented on the basis of application, panel size, vertical and region. Based on application, the market is segmented into Display and Lighting. Based on display, the market is segmented into Near-To-Eye (NTE) Devices, Smartwatch, Television, Head-Up Display (HUD), Smartphone & Tablet, Monitor & Laptops and Digital signage. Based on lighting, the market is segmented into General Lighting and Automotive Lighting. Based on the panel size, the market is segmented into microdisplay, small & medium sized panel and large panel. Based on the vertical, the market is segmented into Consumer Electronics, Advertisement, Automotive, Aerospace & Defense, Energy & Power, Architecture & Construction, Entertainment & Sports, Retail, Residential and Others.

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Key questions answered in this research report:

• • At what pace is global Micro-LED market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Micro-LED market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Micro-LED market?
  • Which vertical generated maximum revenues in 2019 and identify the most promising vertical during the forecast period?
  • What are the various application areas of global Micro-LED market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Application, By Panel Size, By Vertical, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Sony Corporation, Apple Inc., Philips Lighting N.V., Samsung Electronics Co., Ltd, LG Electronics Co., Ltd, Glo AB, JBD Inc., Aledia, Epistar Corp, X-Celeprint; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Micro-LED Market by Application

• • Display
    • Near-To-Eye (NTE) Devices
    • Smartwatch
    • Television
    • Head-Up Display (HUD)
    • Smartphone and Tablet
    • Monitor & Laptops
    • Digital signage
  • Lighting
    • General Lighting
    • Automotive Lighting

Global Micro-LED Market by Panel Size

• • Microdisplay
  • Small & Medium Sized Panel
  • Large Panel

Global Micro-LED Market by Vertical

• • Consumer Electronics
  • Advertisement
  • Automotive
  • Aerospace & Defense
  • Energy & Power
  • Architecture & Construction
  • Entertainment & Sports
  • Retail
  • Residential
  • Others

Global Micro-LED Market by Region

• • North America Micro-LED Market (Option 1: As a part of the free 25% customization)

    • North America Micro-LED Market by Application
    • North America Micro-LED Market by Panel Size
    • North America Micro-LED Market by Vertical
    • United States of America (US) Micro-LED Market All-Up
    • Canada Micro-LED Market All-Up

  • Europe Micro-LED Market (Option 2: As a part of the free 25% customization)

    • Europe Micro-LED Market by Application
    • Europe Micro-LED Market by Panel Size
    • Europe Micro-LED Market by Vertical
    • United Kingdom (UK) Micro-LED Market All-Up
    • Germany All-Up Micro-LED Market All-Up
    • France Micro-LED Market All-Up
    • Spain Micro-LED Market All-Up
    • Rest of Europe Micro-LED Market All-Up

  • Asia-Pacific Micro-LED Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Micro-LED Market by Application
    • Asia-Pacific Micro-LED Market by Panel Size
    • Asia-Pacific Micro-LED Market by Vertical
    • China Micro-LED Market All-Up
    • India Micro-LED Market All-Up
    • Japan Micro-LED Market All-Up
    • Rest of APAC Micro-LED Market All-Up

  • RoW Micro-LED Market (Option 4: As a part of the free 25% customization)

    • RoW Micro-LED Market by Service Type
    • RoW Micro-LED Market by Panel Size
    • RoW Micro-LED Market by Vertical
    • Brazil Micro-LED Market All-Up
    • South Africa Micro-LED Market All-Up
    • Saudi Arabia Micro-LED Market All-Up
    • UAE Micro-LED Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Micro-LED Market All-Up

Global Micro-LED Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Sony Corporation
  • Apple Inc.
  • Philips Lighting N.V.
  • Samsung Electronics Co., Ltd
  • LG Electronics Co., Ltd
  • Glo AB
  • JBD Inc.
  • Aledia
  • Epistar Corp
  • X-Celeprint