Press release
Micro LED Display Market shipments to see a whopping growth rate of 115% to 2024 | Big Manufacturers: Apple, Cooledge, Epistar, Lumens, Oculus VR, Ostendo Technologies, Plessey Semiconductors, Samsung Electronics, Sony, VueReal Inc., X-Celeprint
Micro LED Display Market
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Small panel size in micro LED display market is anticipated to grow rapidly to reach revenue share of over 30% by 2024 due to the surging demand for small devices such as smartphones, near-to-eye devices and smartwatches. These components have several advantages over currently used OLED technology such as high degree of luminance, powerful contrast, and low operating temperatures. Furthermore, these devices owing to their low power consumption run for longer a life-span as compared to the traditional components. This is encouraging the manufacturers of handheld devices to increasingly implement these components in the devices.
World Micro LED Display Market is set to grow from its current market value of $250 million to more than $14 billion by 2024. The industry expects shipments of 1 million units in 2018 and are forecast to grow at a whopping 115% CAGR from 2018 to 2024.
Industry Growth drivers –
• Increasing demand for brighter and power-efficient displays for electronic devices
• Increasing penetration of near-to-eye devices in the U.S.
• Increasing usage of near-to-eye devices in healthcare and corporate sectors
• Adoption of advanced displays in HUD in automobile industry
• Growing penetration of technology in digital signage applications in Germany
• Increasing usage of wearable devices in France and Italy
• Increasing investment for technological advancements in Asia Pacific
• Penetration of smartphones in MEA
• Increasing use of AR/VR headsets in gaming in Latin America
The trend of electronics miniaturization is allowing manufacturers to reduce the size of the display panels that are used in several handheld devices such as tablets & smartphones, and near-to-eye devices including AR/VR headsets. The reduction in size between each pixel lowers the total cost of displays when compared with their traditional counterparts. This increases the usability of these components in small electronic devices, such as smartwatches and smartphones, thereby propelling the micro-LED display market growth.
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Small size and low power consumption ability of these devices make them suitable for the adoption in wearable devices, propelling the micro-LED display market growth. These devices are being largely adopted in AR/VR devices due to the factors such as low weight, small size, and high brightness. These benefits also encourage the adoption of the technology in devices such as smartwatches and smartphones.
The lack of standardization and design issues pertaining to small size are restraining the microdisplay LED market. Due to this, the manufacturers are facing issues in the mass manufacturing of large-size displays. The manufacturers and research entities in the industry are working on correcting the issues by developing flexible displays that can be adjusted in terms of the panel size.
Germany micro LED display market growth will witness a surge over the forecast timespan due to the increasing usage of wearable devices in the country. The consumers are demanding technologically-advanced and visually-appealing gadgets as wearable devices. Wearable device manufacturers are continuously innovating to develop the product according to the consumer requirements. Micro LED allow manufacturers to develop products, such as smartwatches, making them lightweight, compact, and energy-efficient.
Browse key industry insights spread across 270 pages with 204 market data tables & 22 figures & charts from the report, “Micro LED Display Market Size By Panel Size (Small [65”]), By Application (AR Headsets, VR Headsets, HUD, Smartwatch, Smartphone, TV, Digital Signage, Tablet, Laptop), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Taiwan, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/micro-led-display-market
The Asia Pacific micro LED display market is anticipated to ship over 250 thousand units in 2018 grow due to the manufacturers of electronic devices rapidly switching to these components from the traditional LED or OLED components. Furthermore, the presence of a large number of electronic device manufacturers encourages the display manufacturers in the region to adopt newer versions of technology to remain competitive in the industry.
The key players in the micro-LED display market include Apple, Inc., Cooledge, Epistar, Glo AB, Lumens, Mikro Mesa Technology, Oculus VR, Ostendo Technologies, Plessey Semiconductors, Samsung Electronics, Sony, Uniqarta, VueReal Technologies, X-Celeprint.
The industry is characterized by intense competition among the players for product development such as Apple and Sony. For instance, Leyard Optoelectronics launched a micro LED wall super small pitch of about P0.9. The main application of these components is projected to be indoor surveillance displays, unlike Sony and Apple that are focusing on wearable devices applications.
Browse Related Reports:
Display Market by Applications segmented: Display Size & Resolution 2018-2024
Display Market was over USD 7 billion, growing at CAGR of over 14% to exceed USD 20 billion by 2024.
Some of the major players in the display market include NCR Corporation, Fujitsu Limited, Epson America, Inc., Fametech, Inc., Displax SA, Diebold Nixdorf, Inc., and Ingenico Group.
https://www.gminsights.com/industry-analysis/display-market
Augmented Reality Market By Component, Application, Region, Forecast 2024
(AR) Augmented Reality Market exceeded USD 1 billion in 2016 and is predicted to grow at around 65% CAGR to exceed USD 50 billion by 2024. The global industry shipments were over 100,000 units in 2016 and are forecast to grow at over 75% CAGR to 2024.
Some of the key players in augmented reality market include Google Inc., Blippar, Daqri, PTC, Upskill, Magic Leap, Samsun Electronics Co. ltd., Facebook Inc., Apple Inc., Qualcomm, Wikitude GmbH, HTC Corporation, Microsoft Corporation, and Marxent Labs, LLC.
https://www.gminsights.com/industry-analysis/augmented-reality-ar-market
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