Micro-LED Market by Application (Display (Smartwatch, NTE Devices (AR, VR), Smartphone, Television, HUD, Digital Signage, Laptop & Monitor) and Lighting (General, Automotive)), Display Panel Size, Vertical, and Geography - Global Forecast to 2025
Micro-LED market projected to grow at a CAGR of 80.1% during forecast period
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. Increasing demand for brighter and more power-efficient display panels for smartwatches, 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 smartwatches 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.
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. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 – 25%, Tier 2 – 15%, and Tier 3 – 60%
• By Designation: C-Level Executives – 55%, Directors – 35%, and Others – 10%
• By Region: APAC – 25%, North America – 30%, and Europe – 45%
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 in micro-LED market include Jasper Display (Taiwan), Crystalwise Technology (Taiwan), Unimicron (Taiwan), Luminit (US), Macroblock (Taiwan), and Max Technologies (Taiwan).
This research report categorizes the market by application, display panel size, vertical, and geography. This report comprises drivers, restraints, opportunities, and challenges pertaining to the micro-LED market; and patent analysis, extensive value chain analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2025.
Key Benefits of Buying This Report
The report is expected to help leaders/new entrants in this market in the following ways:
1. This report segments the micro-LED market comprehensively and provides the closest market size estimation for major applications across regions.
2. The report is expected to help stakeholders understand the pulse of the market through information on drivers, restraints, challenges, and opportunities for the market.
3. This report is likely to help stakeholders better understand their competitors and gain insights on ways to improve their position in the business. The competitive landscape section includes the competitor ecosystem, with an overview of the strategies adopted by leading players in terms of new product or prototype developments, agreements, expansions, investments, and mergers and acquisitions.