Market dynamics, value chain analysis, trade analysis, technology trends, key patents, standards and frameworks, case studies / use cases
Dublin, December 29, 2021 (GLOBE NEWSWIRE) – The “Global Micro-LED Market with Covid-19 Impact Analysis by Application (Display (Smartwatch, NTE Device, Smartphone & Tablet, TV, Digital Signage), Lighting (General, Automotive)), Display Panel Size, vertical and region – Forecast to 2027 “ the report was added to ResearchAndMarkets.com offer.
The global micro-LED market is estimated at USD 592 million in 2021 and will reach USD 21,169 million by 2027, with a CAGR of 81.5% between 2021 and 2027.
The expected penetration of micro-LED displays in NTE devices and high-end smartphones are the key factors that will accelerate the growth of the micro-LED market during the forecast period. Likewise, the growing demand for wearable displays for smartwatches and headsets (HMDs) is expected to create lucrative opportunities for players in the micro LED market. However, the lack of patents and a proper supply chain are expected to hold back the growth of the market.
Near-to-Eye (NTE) devices will see the greatest growth in the coming years
Near-to-Eye (NTE) device is expected to account for the largest share of the overall micro-LED display market by 2027. The growth of this segment can be attributed to the high demand for AR / VR devices. In addition, brighter, more energy-efficient LEDs are needed for NTE devices. Micro-LED fulfills this need and hence the application of NTE devices is expected to grow at the highest CAGR during the forecast period.
Consumer electronics vertical set to hold largest share in 2027
Consumer electronics is expected to dominate in terms of market share during the forecast period. The consumer electronics market has seen the emergence of a large number of start-ups, with significant investments in R&D. Such developments are likely to lead to significant growth in the micro LED market. In addition, there is an increasing demand for electronics with low power consumption, which is one of the advantages offered by micro LEDs.
APAC is expected to grow at the highest CAGR in the global 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 growing APAC micro-LED market is expected to be driven by the growing interest of electronics giants in APAC to adopt micro-LED technology.
This research report categorizes the Micro LED market by Application, Vertical, Panel Size, and Region. The report also describes the drivers, restraints, opportunities, and challenges in this market. Further, the report includes value chain analysis, carrier five force analysis, trade analysis, ecosystem, technology trends, key patents, standards and frameworks, and case studies / use cases.
Growing demand for brighter, more energy efficient billboards
Growing application of micro-LED displays in near-eye devices (NTE)
Growing adoption of micro-LED displays in high-end smartphones
Growing interest of electronics giants in micro-LED technology
Limited patents and inadequate supply chain
Growing demand for organic light emitting diodes (OLEDs)
Strong growth in flexible screens market and increasing adoption of folded screens for smartphones in near future
Manufacture of Micro-LEDs on Large Silicon Wafers
Growing demand for wearable displays for smartwatches and head-mounted displays (HMDs)
High penetration of micro-LED products in the display panel market
High investment requirement and need for different manufacturing processes and equipment calculability
Low efficiency, high cost and the need to improve micro-LED production and mass transfer processes
Trade-off between volume and pixel size
For more information on this report, visit https://www.researchandmarkets.com/r/344nhz
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