The Micro-LED market is expected to register a CAGR of over 61.3%, during the forecast period of 2018 - 2023. The report profiles the providers of micro led display and lighting products for numerous end users.
The increase in demand for bright and power efficient displays, along with growth in the consumer electronics industry, is boosting the growth of the micro LED market. Also, a rise in interest among leading brands, such as Samsung and Apple, has led to an increase in the number of micro-LED startup companies. Increase in demand for attractive and high-end specification display products is also boosting the growth of the consumer electronics verticals. Technological advancements in micro-LED technology is generating interest among different end users to use the micro LED-based products.
However, an increase in demand for OLED display by consumers is hampering the growth of the micro-LED market. Some of the other factors restraining growth in this market are the rising popularly of folded display in tabs and smartphones.
The Emergence of Micro-LED Technology May Drive Growth in the Consumer Electronics Vertical
Micro-LED is a display technology used to enhance the quality and brightness of an image. They are used in brighter and power-efficient display wearables, like smartwatches, which have a huge impact on the consumer electronics industry. For example, Samsung had developed a wall TV, known as mLED TV. This one of the factors driving the growth of the micro LED market. Tablets and Smartphones are high-volume applications of micro LEDs.
Asia-Pacific is Expected to Witness the Highest Growth Rate
The Asia-Pacific region is expected to witness the fastest growth rate, over the forecast period, due to the presence of leading product manufacturers, LED foundries, and display panel manufacturers. LED lighting in Asia has developed in the recent years and gradually replaced traditional lighting. It is anticipated that, along with the policy incentives and increasing demand for replacement, the demand for micro LED lighting will increase, during the forecast period. Moreover, recent technological advancements in micro LED have led to an increased focus on these products, worldwide. This is increasing the competition between among players in the micro LED market in this region. Thus, APAC-based display panel manufacturers have accelerated their R&D and investments in micro LED.
Partnerships among different players, innovation in products, and rising investments in micro LED technologies are major factors driving the growth of the micro LED market in the region. Also, an increase in disposable income and developing economies in the region may further drive the demand for micro LED based-products in Asia-Pacific.
Key Developments in the Market
¥ April 2018: Sony Corporation showcased its latest development, a huge 8K micro LED display at the NAB 2018 show in Las Vegas, in the micro LED display technology. It had also unveiled its new UHC-8300 broadcast camera that is capable of shooting video in 8K resolution at 120 frames per second, at NAB 2018.
¥ Jan 2018: Samsung Electronics Co. Ltd had introduced the Wall - the worldÕs first consumer modular MicroLED 146-inch TV - at its annual First Look CES event. The modular and self-emitting MicroLED 146 TV display was featured alongside SamsungÕs latest innovations in display technology, demonstrating the way television is evolving to offer consumers an outstanding viewing experience, while acting as a centralized connected smart hub to enhance everyday life.
Micro LED Market Major Players: APPLE, INC (LUXVUE), SONY CORPORATION, LG DISPLAY CO LTD, ALEDIA SA, EPISTAR CORPORATION, VERLASE TECHNOLOGIES, ROHINNI LLC, SAMSUNG ELECTRONICS CO LTD, JBD INC., GLO AB, OSTENDO TECHNOLOGIES, INC, VUEREAL ,INC, and ALLOS SEMICONDUCTORS, among others.
Reasons to Purchase Micro LED Market Report
¥ Analysis of various perspectives of the micro-LED market, with the help of PorterÕs five forces analysis
¥ Segments that are expected to dominate the market
¥ Regional analysis of the market, during the forecast period
¥ Latest developments, market shares, and strategies employed by major market players and key innovators
¥ 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of Micro LED Market Report
¥ This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
1.1. Key Study Deliverables
1.2. Market Definition
1.3. Study Assumptions
2. Research Methodology
3. Executive Summary
4. Micro LED Market Insights
4.1. Micro LED Market Overview
4.2. Industry Attractiveness - Porter's Five Forces Model
4.2.1. Bargaining Power of Suppliers
4.2.2. Bargaining Power of Consumers
4.2.3. Threat of New Entrants
4.2.4. Threat of Substitute Products and Services
4.2.5. Competitive Rivalry in the Industry
4.3. Industry Value Chain Analysis
4.4. Technology Roadmap
5. Micro LED Market Dynamics
5.1. Micro LED Market Drivers
5.1.1. Increase in Demand for Bright and Power-Efficient Display
5.1.2. Growth in Consumer Electronics
5.1.3. Longer Lifespan and Response Time
5.2. Micro LED Market Restraints
5.2.1. Increase in Demand for OLED
5.2.2. Rise in Popularity of Folded Display in Tabs and Smartphones
6. Global Micro LED Market - Segmentation
6.1. By Application
188.8.131.52. Smart Watches
184.108.40.206. Near-to-eye Devices (AR and VR)
220.127.116.11. Smartphone and Tablet
18.104.22.168. Monitor and Laptop
22.214.171.124. Head Up Display
126.96.36.199. Digital Signage
188.8.131.52. General Lighting
184.108.40.206. Automotive Lighting
6.2. By End User
6.2.1. Consumer Electronics
6.2.3. Aerospace & Defense
6.3. By Region
6.3.1. North America Micro LED Market Size (2018-2023)
6.3.2. Europe Micro LED Market Size (2018-2023)
6.3.3. Asia-Pacific Micro LED Market Size (2018-2023)
6.3.4. Latin America Micro LED Market Size (2018-2023)
6.3.5. Middle East & Africa Micro LED Market Size (2018-2023)
7. Competitive Intelligence - Company Profiles
7.1. Apple, Inc. (Luxvue)
7.2. Sony Corporation
7.3. LG Display Co. Ltd
7.4. Aledia SA
7.5. Epistar Corporation
7.6. VerLASE Technologies
7.7. Rohinni LLC
7.8. Samsung Electronics Co. Ltd
7.9. JBD Inc.
7.10. Glo AB
7.11. Ostendo Technologies Inc.
7.12. VueReal Inc.
7.13. Allos Semiconductors
*(List Not Exhaustive)
8. Investment Analysis
9. Future of the Micro LED Market
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.