Micro-LED Display Market by Product, Application, Industry Vertical and Region, 2018-2025
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 dominate the global micro-LED display market during the forecast period owing to the rise in demand for consumer electronics. In 2018, China is projected to dominate the Asia-Pacific market. The U.S. is anticipated to lead the market in North America, whereas the UK is anticipated to lead the European market in 2018.
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According to a recent report published by Allied Market Research, titled, 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.
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.
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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.
Key Findings of the Micro-LED Display Market:
On the basis of product type large-scale display is expected to generate the highest revenue in 2018.
In 2018, the consumer electronics on the basis of industry vertical segment is projected to account the highest revenue in the micro-LED display market.
LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
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.
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