Rising Adoption of Micro-LED Displays to Increase Micro-LED Market Growth Key Companies – Sony Corp., Apple Inc., Samsung Electronics Co., Ltd., VueReal, Epistar Corporation

Global Micro-LED Market, By Panel Size (Micro-Display, Small-Medium-Sized Panel, and Large-Panel), By Application (Display (Near-Eye (NTE) Device, Smartphone & Tablet, Smartwatch, Head-up Display (HUD), Laptop & Monitor, TV & Digital Signage), Lighting (Automotive & General Lighting), by Vertical (Automotive, Advertising, Consumer Electronics, Aerospace & Defense, and Others) and Region (South America North, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Size, Share, Prospects & Opportunity Analysis 2021 – 2028

The global micro-LED market is estimated at US$ 36.4 bmillion in 2019 and should show a CAGR of 29.8% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Micro-LED, also known as µLED and/or mLED, is an emerging flat panel display technology. Using millions of tiny, individually addressable LEDs, Micro-LED promises to rival the picture quality of OLED, but with better brightness and less risk of burn-in. Additionally, compared to popular LCD technology, micro-LED displays offer better contrast, response times and better energy efficiency. Micro-LED is important because it promises previously unavailable brightness levels, contrast ratios and color volumes. Micro-LED displays use ultra-thin LED devices to create beautiful, flexible, super-bright, and efficient displays. The micro-LED display will be the next-generation display that uses millions of tiny micro-LED chips arranged on the LTPS backplane. Micro-LED is a newly developed technology that uses microscopic LEDs as individual pixels in the display.

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Competitive Landscape:

Leading players operating in the global Micro LED Market are- Sony Corp., Apple Inc., Aledia, VueReal, Epistar Corporation, Uniqarta, Inc., GLO-USA, JBD Inc., ALLOS Semiconductors GmbH, Samsung Electronics Co., Ltd., VerLASE Technologies, Oculus, Sharp Corporation, Ostendo Technologies , Inc., Tianma Micro-electronics, Mikro Mesa Technology Co., Ltd. and Plessey Semiconductors Ltd, among others.

Key Market Drivers:

Rising demand for brighter and energy-efficient display panels is expected to increase the growth of the micro-LED market over the forecast period. For example, in July 2021, Samsung Electronics Co. planned to launch the highly anticipated QD-OLED TV, expanding its MicroLED TV lines to strengthen its presence in the high-end market. Next year (in 2022), Samsung plans to unveil new QLED and QD-OLED TVs in the quantum dot category as well as MicroLED TVs in various sizes.

Additionally, increasing adoption of micro-LED displays in high-end smartphones and growing interest of electronics giants in micro-LED technology is expected to increase the growth of micro-LED market. For example, in April 2019, Sony Corp. showcased its latest development in micro-LED display technology. The company showcased its massive 8K micro-LED display at the 2018 NAB Show in Las Vegas.

Geographically, the report examines the production, consumption, revenue, market share, growth rate and forecast for the following regions:

🔹North America (US, 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)

🔹The Middle East and Africa (Saudi Arabia, United Arab Emirates, Turkey, Egypt, South Africa, Nigeria)

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COVID-19 impact analysis:

The pandemic has heavily impacted the world as well as the tech industry with various disruptions occurring in the supply chain. Many companies around the world have temporarily closed their facilities due to supply chain disruptions. However, the pandemic has not stopped the development of micro-LED screens. It can be seen that the progress of micro-LED displays or prototypes and new launches are not greatly affected by the pandemic, as many events are happening online, such as the Consumer Electronics Show (CES). This in turn is expected to have a positive impact on the growth of the market.

Some of the important questions answered by this report include:

✅ Who are the top five players in the Micro-LED market?

✅ What will the Micro-LED market look like in the coming years?

✅ Which products and applications will dominate the Micro-LED market?

✅ What are the drivers and restraints of the Micro-LED market?

✅ Which regional market will represent the strongest growth?

✅ What will be the CAGR and market size of the Micro-LED market during the forecast period?

✅ What is the current market size, what will it be in 2029, and what will the growth rate be?

✅ What are the constraints to market growth?

✅ What market opportunities and risks do key companies face?

✅ Who are the main competitors and what is their strategic approach?

✅ What are the market entry challenges for new players?

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Market Scale and Segment Analysis:

The report focuses on the Micro-LED market size, segment size (mainly product type, application, and geography), competitive landscape, recent status and development trends. Additionally, the report includes detailed cost and supply chain analysis. Technological improvement and innovation will further optimize the performance of the product, making it more widely used in downstream applications. Furthermore, the assessment of consumer behavior and market dynamics (drivers, restraints, and opportunities) provide essential information for understanding the Micro-LED market industry.

On the basis of panel size, the global micro-LED market is segmented into:

On the basis of Application, the global micro-LED market is segmented into:

  • Display

    • Near-Eye Device (NTE)

    • Smartphone and Tablet

    • smart watch

    • Head-Up Display (HUD)

    • laptop and monitor

    • Television

    • Digital display

  • Lighting

    • automotive lighting

    • General lighting

On the basis of vertical, the global micro-LED market is segmented into:

  • Automotive

  • Advertising

  • Consumer electronics

  • Aerospace and Defense

  • Others

On the basis of region, the global micro-LED market is segmented into:

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

Key points to remember:

  • The micro-LED market is expected to grow at a CAGR of XX% during the forecast period owing to the growing penetration of smartphones and smartwatches across the world. For example, according to the Indian Brand Equity Foundation, in 2019 India had around 502 million smartphone users, and the Indian smartphone market reached 173 million units in 2021.
  • Among regions, North America, Europe, and Asia-Pacific are expected to witness robust growth in the micro-LED market owing to increasing adoption of micro-LED displays, increasing demand for displays devices, high penetration of micro-LED products, increased production of micro-LEDs and government initiatives. For example, in October 2019, Apple set up a new facility to develop micro-LED technology for Apple products. Additionally, in December 2019, Sanan Optoelectronics, China received local government grants for its Micro-LED project.

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About Us

Coherent Market Insights is global market intelligence and a consulting organization, focused on helping our plethora of clients achieve transformational growth by helping them make critical business decisions. Our head office is in India, we have offices in the world’s financial capital in the USA and sales advisers in the UK and Japan. Our client base includes players from various industries in more than 32 countries around the world. We are uniquely positioned to help businesses around the world achieve practical and lasting results through a variety of recommendations on operational improvements, technologies, emerging market trends and new ways of working. We are proud to serve clients across the length and breadth of the horizon, from Fortune 500 companies, to non-profit organizations and start-ups looking to establish a foothold in the market. We meticulously study emerging trends in various industries globally and regionally to identify new opportunities for our clientele.

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