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With 83.2% of (CAGR), Micro-LED Display Market Size To Reach US$ 8,825.3 Million by 2028 | IMARC Group
Micro-LED Display Market Forecast
A micro-light emitting diode (LED) display is a screen with microscopic LEDs of different colors arranged in an array. It is manufactured using gallium nitride, which allows the scattering of red, green, and blue (RGB) LED lights to glow brighter for a prolonged period. LED display offers extreme wavelength uniformity, increased brightness, ultra-high definition (UHD) picture quality, and improved color saturation. It also aids in reducing power consumption and offering a longer lifespan and better contrast and response time compared to other conventional technologies. As a result, micro-LED is widely used in smartwatches, micro-projectors, and ultra-high-definition (UHD) televisions (TVs).
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Micro-LED Display Market Trends and Drivers:
The inflating disposable income levels and improving the living standards of individuals are primarily augmenting the micro-LED display market. Furthermore, the escalating demand for consumer electronics and the shifting preferences of the masses toward bright power-efficient display panels for high-quality lighting, minimal maintenance, and energy cost are also bolstering the market growth. Apart from this, the launch of favorable government initiatives to promote mechanical manufacturing is further catalyzing the global market. Moreover, the growing popularity of micro-LEDs in visible light communication (VLC) technology for marine exploration and underwater connectivity, on account of low power consumption characteristics, is acting as another significant growth-inducing factor. Besides this, the increasing investments by leading manufacturers in research and development (R&D) activities to resolve the high-cost and complicated manufacturing processes are positively influencing the market growth. Additionally, the rising adoption of highly efficient micro-light emitting diodes suitable for augmented reality (AR) and virtual reality (VR) is expected to drive the micro-LED display market in the coming years.
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Micro-LED Display Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• Aledia
• eLux Inc.
• Innolux Corporation
• Jade Bird Display
• LG Display Co. Ltd. (LG Electronics Inc.)
• Lumens Co. Ltd.
• Nanosys Inc.
• PlayNitride Inc.
• Plessey Semiconductors Ltd.
• Samsung Electronics Co. Ltd.
• Sony Group Corporation
• VueReal
Breakup by Product:
• Micro Display
• Large Scale Display
• Small and Medium-sized Display
Breakup by Application:
• Smartphone and Tablets
• PC and Laptop
• TV
• Smartwatch
• Others
Breakup by Industry Vertical:
• Consumer Electronics
• Entertainment and Sports
• Automotive
• Retail
• Government and Defense
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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