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Micro-LED Display Market by Product (Large Scale Display, Small & Medium-sized Display, and Micro Display), Application (Smartphone & Tablet, PC & Laptop, TV, Smartwatch, and Others), and Industry Vertical (Consumer Electronics, Entertainment & Sports, Au
Micro LED Display Market
Micro-LED Display Market by Product, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025, the global micro-LED display market was valued at $22.9 million in 2018, and is projected to reach at $1,945.6 million by 2025, growing at a CAGR of 89.2% from 2018 to 2025.
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Micro-LEDs are a class of displays in which individual pixels are formed by an array of microscopic light-emitting diodes (LEDs). Micro-LED display provides high wavelength uniformity for fine pixel pitch display. In addition, it has added advantages of less power consumption, increased brightness, ultrahigh definition picture quality, improved color saturation, and faster response rate as compared to OLEDs and LCDs.
The growth of the micro-LED market is driven by rise in demand for bright and power-efficient display panels and increase in preference of electronic giants such as Sony and Apple towards micro-LEDs display. However, high cost of these displays is expected to restrain the market growth. On the contrary, rise in demand for consumer electronics is anticipated to provide lucrative growth opportunities for the market.
Apple Inc., Samsung, Sony Corporation, Oculus, VueReal, LG Display, Play Nitride, eLUX, Rohinni LLC and Aledia are some of the key players operating in the global micro-LED display market.
The report segments the micro-LED display market based on product, application industry vertical, and region. On the basis of product, the market is divide into small- & large-scale display, small- & medium-sized display, and micro display. By application, it is categorized into smartphone & tablet, TV, PC & laptop, smartwatch, and others. Depending on industry vertical, it is fragmented into consumer electronics, entertainment & sports, automotive, retail, government & defense, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Rise in demand for bright and power-efficient display panels, increase in preference of electronic giants towards micro-LED displays, high cost of micro-LED display, and upsurge in demand for the consumer electronics are the significant factors that impact the growth of the global micro-LED display market. These factors are anticipated to either drive or hamper the market growth.
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Micro-LED display is an emerging technology, which is a collection of microscopic LEDs that form an individual pixel element. It offers enhanced contrast over the traditional OLED and LED display technologies. In addition, the consumption of the power by micro-LED display is less as compared to the other technologies such as LEDs and OLEDs. Thus, rise in demand for such brighter and power-efficient devices fuels the growth of the market.
Micro-LED display is an emerging, fourth-generation display technology. It combines the features of OLEDs and LCDs, thereby increasing the brightness and power efficiency. However, the cost of micro-LED display is considerably high as compared to the conventional display technologies such as OLEDs and LEDs, which is expected to impede the market growth. In addition, power leakage due to miniaturization of micro-LED display results in high power consumption, which hampers the growth of the market.
Key Benefits
• This study comprises analytical depiction of the global micro-LED display market with current trends and future estimations to portray the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current market is quantitatively analyzed from 2018 to 2025 to highlight the financial competency of the market.
• Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Analyst Review:
Micro-LED display is an emerging technology, which provides high luminance in a small format. Micro-LEDs are preferred over TFT, LCD, and OLED displays, owing to lower latency, high contrast ratio, high color saturation, and high quality of image. Moreover, micro-LED offers reduced energy consumptions as compared to the conventional LCD and OLED display systems.
By product, large-scale display segment was the dominant segment in 2018, and is anticipated to continue this trend during the forecast period. By application, smartwatch is anticipated to witness highest growth rate during forecasted period.
Asia-Pacific is expected to account for the majority market share of the micro-LED display market in 2018, owing to rise in demand for consumer electronics.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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