Micro LED Market Analysis 2024-2030: A $25 Billion Market by 2028, with 74% Compound Annual Growth Forecast During 2023-2028 - Growing Demand for Brighter and Better Display Solutions
DUBLIN, March 26, 2024 /PRNewswire/ -- The "Micro LED Market: Trends, Opportunities and Competitive Analysis [2024-2030]" report has been added to ResearchAndMarkets.com's offering.
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The future of the global micro LED market looks attractive with opportunities in the consumer electronics, automotive, advertisement, and aerospace & defense industries. The global micro LED market is expected to reach an estimated $25 billion by 2028 with a CAGR of 74.5% from 2023 to 2028. The major drivers for this market are growth in smartphones and wearable devices and increasing demand for brighter and better display solutions.
Micro LED Market Insight
-- Display is forecast to remain the largest application and it is also
expected to witness the highest growth over the forecast period as
increasing demand for better display solutions.
-- Large panel will remain the largest segment by panel size and micro
display segment is also expected to witness the highest growth over the
forecast period due to increasing demand for smart phone and wearables
devices.
-- Asia Pacific will remain the largest region due to increasing investment
by electronics giants in global micro led market. APAC is expected to
witness the highest growth over the forecast period supported by
increasing demand for consumer electronics devices such as smartwatches,
smart devices, and AR/VR devices, smartphones, televisions, and laptops.
Key Report Features
-- Market Size Estimates: Micro LED market size estimation in terms of
value ($M)
-- Trend and Forecast Analysis: Market trends (2017-2022) and forecast
(2023-2028) by various segments and regions.
-- Segmentation Analysis: Market size by various segments, such as end use
industry, application, panel size, and regions in terms of value.
-- Regional Analysis: Micro LED market breakdown by North America, Europe,
Asia Pacific, and the Rest of the World.
-- Growth Opportunities: Analysis of growth opportunities in different end
use industries, application, panel size, and regions for the micro LED
market.
-- Strategic Analysis: This includes M&A, new product development, and
competitive landscape for the micro LED market.
-- Analysis of competitive intensity of the industry based on Porter's Five
Forces model.
Micro LED Market by Segment
In this market, large panel is the largest by panel size, whereas consumer electronics is the largest market by end use industry. Growth in various segments of the micro LED market is given below:
The study includes trends and forecast for the global micro LED market by application, panel size, end use industry, and region as follows:
By End Use Industry:
-- Consumer Electronics
-- Automotive
-- Advertisement
-- Aerospace and Defense
-- Others
By Panel Size:
-- Micro-Display
-- Small Sized and Medium Sized Panel
-- Large Panel
By Application:
-- Display
-- Near to Eye Devices
-- AR HMD
-- VR HMD
-- Smartphones & Tablets
-- Smartwatches
-- Televisions
-- Head-up display
-- Monitors and Laptops
-- Digital Signage
-- Lighting
-- General Lighting
-- Automotive Lighting
List of Micro LED Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies micro LED companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Some of the micro LED companies profiled in this report include:
-- Apple Inc
-- Samsung Electronics
-- Sony Corporation
-- Epistar Corporation
-- Lumens
-- Plessy Semiconductor
-- X-Celeprint
-- PlayNitride
-- VerLASE Technologies LLC
-- Plessey Semiconductor Ltd.
-- JBD Inc.
-- Ostendo Technologies, Inc.
-- MICLEDI
-- Microluce
This report answers the following key questions
-- What are some of the most promising, high-growth opportunities for the
global micro LED market by micro LED end use industry (consumer
electronics, automotive, advertisement, aerospace & defense, and
others), Panel Size (micro-displays, small-sized & medium-sized, and
large panels), Application (display and lighting) by region (North
America, Europe, Asia Pacific, and the Rest of the World)?
-- Which segments will grow at a faster pace and why?
-- Which regions will grow at a faster pace and why?
-- What are the key factors affecting market dynamics? What are the drivers
and challenges of the market?
-- What are the business risks and threats to the market?
-- What are the emerging trends in this market and the reasons behind them?
-- What are the changing demands of customers in the market?
-- What are the new developments in the market? Which companies are leading
these developments?
-- Who are the major players in this market? What strategic initiatives are
being implemented by key players for business growth?
-- What are some of the competitive products and processes in this area and
how big of a threat do they pose for loss of market share via material
or product substitution?
-- What M & A activities have taken place in the last 5 years in this
market?
Companies Profiled:
-- Apple Inc.
-- Samsung Electronics Co. Ltd
-- Sony Corp
-- Oculus VR
-- Epistar Corporation
-- Lumens
-- Glo AB
-- X-Celeprint
-- PlayNitride
-- VerLASE Technologies LLC
-- Plessey Semiconductor Ltd.
-- JBD Inc.
-- Ostendo Technologies, Inc.
-- MICLEDI
-- Microluce
For more information about this report visit https://www.researchandmarkets.com/r/jnfq95
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