Micro-LED Market Set to Grow at the Fastest Rate- Time to Grow your Revenue

The micro-LED market is estimated to be valued at USD 592 million in 2021 and reach USD 21,169 million by 2027; it is anticipated to grow at a CAGR of 81.5% during the forecast period. The major factors driving the growth of the micro-LED market are increase in demand for micro displays for NTE devices, and increasing interest of electronic giants in micro-LED technology. However, several factors, such as requirement of huge investment in infrastructure, equipment, and process development can act as a key challenge in the market during the forecast period.

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Consumer Electronics vertical is expected to dominate in the micro-LED market during the forecast period

Consumer Electronics is expected to dominate in terms of market share during the forecast period. The market for consumer electronics has seen the emergence of large number start-ups, with high R&D investments. Such developments are likely to lead to significant growth of micro-LED market.

Near-to-Eye (NTE) devices expected to witness the highest CAGR in the micro-LED display market during the forecast period

The Near-to-Eye (NTE) devices is estimated to grow at the highest CAGR from 2021 to 2027 during the forecast period, as the growth of this segment can be attributed because there is high demand for AR/VR devices. Also, there is need of brighter and more power-efficient LED for NTE devices. Micro-LED serves this need and hence NTE devices application is projected to grow at the highest CAGR during the forecast period.

Aerospace and Defense vertical is expected to grow at the highest CAGR in 2027

Aerospace and Defense is expected to grow at the highest CAGR during the forecast period. The market for Aerospace and Defense has seen the emergence of large number start-ups, with high R&D investments. Such developments are likely to lead to significant growth of micro-LED market

APAC is attributed to grow at the highest CAGR in micro-LED market during the forecast period (2021-2027)

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 few products into digital signage vertical. Samsung's "The Wall" is one of the premium product in micro:LED digital signage (advertising) vertical. Also, Sony has also launched few products using micro-LED technology in the market.

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Key Market Players

Apple (US), Sony (Japan), Samsung Electronics (South Korea), Oculus VR (US), X-Celeprint (Ireland) Epistar (Taiwan), Nanosys (US), and Aledia (EU) are among the key players in the micro-LED market.

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