Press release
MicroLED Market To Grow With Sustainable Cagr During 2022 – 2027
The MicroLED Market research provides an in-depth analysis of industry dynamics, the competitive landscape, segments, and geographies to assist readers have a better understanding of the market. It focuses on market fluctuations, pricing structures, uncertainties, possible hazards, and development possibilities in order to assist firms in developing effective strategies for success in the MicroLED industry. It also offers participants to acquire comprehensive insights into top leading company development and industry progress in market.The MicroLED market is set to grow at a CAGR of 153.14 % over the forecast period (2022-2027).
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Top leading companies in the global MicroLED market include: Samsung Electronics, Apple, Sony, Jbd, Lumens
Recent Developments
In February 2021, Apple partnered with TSMC to manufacture micro-LED displays, which could be used for Apple VR glasses in the future.
In October 2019, Apple set up a new facility for developing micro-LED technology for Apple products in collaboration with the local supply chain in Taiwan; it is located next to Apple’s Taoyuan plant.
In October 2019, Apple was granted a new micro-LED patent; it is related to the future high-resolution displays, which are energy efficient.
MicroLED Market segmentation:
Market segment by Type:
Small Sized Panels
Medium Sized Panels
Large Size Panels
Market segment by Application:
Cellphone
Wearable Watch Device
AR/VR
TV
Others
Market Overview:
The micro-LED market is estimated to be valued at USD 592 million in 2022 and reach USD 21,169 million by 2027, at a CAGR of 81.5% between 2022 and 2027.
The expected penetration of micro-LED displays in NTE devices and premium smartphones are the key factors that will accelerate the growth of the micro-LED market during the forecast period. Likewise, growing demand for wearable displays for smartwatches and head-mounted displays (HMDs) are expected to create lucrative opportunities for the players in the micro-LED market. However, absence of patents and proper supply chain are expected to restraint market growth.
APAC is attributed to growing at the highest CAGR in micro-LED market during the forecast period (2022-2027)
APAC is expected to grow at the highest CAGR in the overall micro-LED market. The fastest growth of the APAC micro-LED market is expected to be driven by the increasing interest of electronic giants in APAC in adopting micro-LED technology. For instance, Samsung, one of the electronic giants, has commercialized a few products into the digital signage vertical. Samsung’s “The Wall” is one of the premium products in the micro: LED digital signage (advertising) vertical. Also, Sony has also launched a few products using micro-LED technology in the market.
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Investigator Observers Strong Growth in Specific Regions:
North America (United States, Canada, and Mexico)
Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
South America (Brazil, Argentina, Colombia, and Rest of South America)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and the Rest of the Middle East & Africa).
Some key questions answered in the MicroLED market report:
– What is the MicroLED market growth, sales, production, consumption, import and export, trends, latest developments, etc. of each region/country?
– Which key regions or MicroLED market segments will drive market development in the near future?
– The short-term and long-term factors affecting the industry due to COVID-19.
– Historical, current, and future market development, growth and market size during the forecast period.
– The detailed qualitative analysis and quantitative insights provided in the report contribute to future growth.
– Comprehensive mapping of key players and the latest strategies adopted by industry players, Manufacturer behaviors analysis.
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Important functions under the reported products and main highlights:
– Detailed overview of the MicroLED Market
– Changes in industry market dynamics
– History, current and projected market size in terms of volume and value
– Detailed MicroLED market segmentation by type, application, etc.
– Recent industry trends and developments
– Competition Situation The high-frequency inductor market
– key company and product strategies
– shows promising growth potential and niche segments/regions
The research includes historical data from 2016 to 2022 and forecasts to 2027, making the reports an invaluable resource for industry managers, marketing, sales, and product managers, consultants, analysts, and others looking for key industry data in easily accessible documents with clearly presented tables and graphs.
Impact of Covid-19 on micro-LED market:
The micro-LED market has been witnessing significant growth over the years. The sudden outbreak of the COVID-19 pandemic has impacted the demand for micro-LED-based products, especially in 2020 and 2021. The pandemic has forced companies to adopt remote working practices. The imposition of lockdown in almost all the major countries to curb the spread of COVID-19 has disrupted the supply chain, halted manufacturing activities, and impacted research and development activities, resulting in delayed production.
We offer customization on MicroLED market reports based on specific client requirements:
1: Market Report in PDF and Excel format.
2: Access to 20% free customization.
3: Access to our analyst’s facts for the following 1 year.
Please contact our sales experts ( sales@marketintelligencedata.com) and we will ensure that you get a report that suits your needs.
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Irfan Tamboli (Head of Sales) – MARKET INTELLIGENCE DATA
Phone: +1 (704) 266-3234
Mail to: sales@marketintelligencedata.com
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Market intelligence data is a global front-runner in the research industry, offering contextual and data-driven research services to customers. Customers are supported in creating business plans and attaining long-term success in their respective marketplaces by the organization. The industry provides consulting services, Market Intelligence Data research studies, and customized research reports.
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