The micro-LED market report segments the micro-LED market comprehensively and provides the closest market size estimation for major applications across regions.Micro-LED is an emerging display and lighting technology with the potential to disrupt the traditional LCD display and LED lighting markets. Micro-LED technology is being developed to offer high brightness at low power.
The micro-LED market is estimated to grow from USD 0.60 Billion in 2019 to USD 20.50 Billion by 2025, at a CAGR of 80.1% between 2019 and 2025.
Download PDF Brochure of Micro-LED Market spread across 154 Pages, Profiling Companies and Supported with 33 Tables and 59 Figures is now available at www.reportsnreports.com/contacts/r….aspx?name=961535 .
Increasing demand for brighter and more power-efficient display panels for smart watches, mobile devices, and NTE (AR/VR) devices is a major factor for the growth of the market. The rising interest of electronic giants—Apple, Samsung, and Sony—and interest shown by input/component suppliers in the supply chain also contribute to the market growth.
Rising demand for OLED displays and the lack of established supply chain for micro-LED, along with distributed patent portfolios, are the major restraints for the growth of the micro-LED market.
Micro-LED market for NTE devices to grow at highest CAGR during forecast period
Considering the current manufacturing capabilities, prototype development, and the involvement of leading players, micro-LED-based smart watches and NTE devices may enter the commercial phase in 2019. The micro-LED market for NTE devices is expected to grow at the highest CAGR between 2019 and 2025.
The luminosity (brightness) and resolution of micro-LED technology would be the key driving force for the adoption of the technology in NTE devices. AR devices require high resolution and brightness to match the real-world visibility.
The fast response time of micro-LED displays is also suited for AR applications. Micro-LED display-based VR solutions can be implemented for diverse end uses, such as entertainment, gaming, training, and research.
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APAC to dominate micro-LED market during forecast period
APAC is expected to dominate the micro-LED display market during the forecast period with the presence of leading brand product manufacturers, LED foundries, and display panel manufacturers in the region. Samsung, LG, Sony, Sharp, Panasonic, and several others will account for major demand for micro-LED display panels by 2025.
Extensive primary interviews have been conducted with industry leaders to determine and verify the market size of several segments and subsegments gathered through secondary research.
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The report profiles the key players in the market. Major companies operating in this market are Apple (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others.
Some of the key innovators in the micro-LED market include Mikro Mesa Technology (Taiwan), VueReal (Canada), Uniqarta (US), ALLOS Semiconductors (Germany), Plessey Semiconductors (UK), PlayNitride (Taiwan), and Ostendo Technologies (US). Some other prominent players in the micro-LED market include Lumens (South Korea), Lumiode (US), Rohinni (US), Cooledge Lighting (Canada), and Nichia (Japan).
Some of the prominent research institutes undertaking research in the micro-LED market are Industrial Technology Research Institute (ITRI) (Taiwan), Changchun Institute (China), III-V Lab (France), CEA Leti (France), Hong Kong University of Science and Technology (Hong Kong), and Fraunhofer-Gesellschaft (Germany). Some of the input suppliers developing related materials and components inmicro-LED market include Jasper Display (Taiwan), Crystalwise Technology (Taiwan), Unimicron (Taiwan), Luminit (US), Macroblock (Taiwan), and Max Technologies (Taiwan).