Dublin, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The "Global Micro-LED Market with Covid-19 Impact Analysis by Application (Display (Smartwatch, NTE Device, Smartphone and Tablet, Television, Digital Signage), Lighting (General, Automotive)), Display Panel Size, Vertical and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global micro-LED market is estimated to be valued at USD 592 million in 2021 and reach USD 21,169 million by 2027, at a CAGR of 81.5% between 2021 and 2027.
The expected penetration of micro-LED displays in NTE devices and premium 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 head-mounted displays (HMDs) are expected to create lucrative opportunities for the players in the micro-LED market. However, the absence of patents and a proper supply chain are expected to restraint market growth.
Near-to-Eye (NTE) device will have the highest growth in coming years
Near-to-Eye (NTE) device is expected to account the largest share of the overall micro-LED display market by 2027. The growth of this segment can be attributed because there is high demand for AR/VR devices. Also, there is need of brighter and more power-efficient LED for NTE devices. Micro-LED serves this need and hence NTE devices application is projected to grow at the highest CAGR during the forecast period.
Consumer electronics vertical is expected to hold the largest share in 2027
Consumer Electronics is expected to dominate in terms of market share during the forecast period. The market for consumer electronics has seen the emergence of large number start-ups, with high R&D investments. Such developments are likely to lead to significant growth of micro-LED market. Also, there is increase on demand for power efficient electronics, which is one of the benefits provided by micro-LED.
APAC is attributed to grow at the highest CAGR in overall 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 growth of the APAC micro-LED market is expected to be driven by the increasing interest of electronic giants in APAC in adopting micro-LED technology.
Research Coverage
This research report categorizes micro-LED market by application, by vertical, by panel size, and by region. The report also describes the drivers, restraints, opportunities, and challenges of this market. Further, the report includes the value chain analysis, porter's five forces analysis, trade analysis, ecosystem, technological trends, key patents, standards and frameworks, and case studies/use cases.
Market Dynamics
- Drivers
- Increasing Demand for Brighter and Power-Efficient Display Panels
- Increasing Application of Micro-LED Displays in Near-To-Eye (NTE) Devices
- Growing Adoption of Micro-LED Displays in Premium Smartphones
- Increasing Interest of Electronics Giants in Micro-LED Technology
- Restraints
- Limited Patents and Inadequate Supply Chain
- Increasing Demand for Organic Light-Emitting Diodes (OLEDs)
- High Growth of Flexible Display Market and Rise in Adoption of Folded Displays for Smartphones in Near Future
- Opportunities
- Manufacturing of Micro-LEDs on Large Silicon Wafers
- Growing Demand for Wearable Displays for Smartwatches and Head-Mounted Displays (HMDs)
- High Penetration of Micro-LED-Based Products in Display Panel Market
- Challenges
- Requirement of High Investments and Need for Different Manufacturing Processes and Equipment Computability
- Low Yield, High Cost, and Need for Improving Micro-LED Production and Mass Transfer Processes
- Trade-Off Between Pixel Volume and Pixel Size
Companies Profiled
- Aledia
- Allos Semiconductors
- Apple (Luxvue)
- Cooledge
- CSOT
- Epistar
- Jade Bird Display
- Konka
- Lumens
- Lumiode
- Micledi
- Microluce
- Mikro Mesa Technology
- Nanosys
- Oculus VR (Infiniled)
- Ostendo Technologies
- Playnitride
- Plessey Semiconductors
- PRP Optoelectronics
- Rohinni
- Samsung Electronics
- Sharp Corporation (Elux)
- Sony
- Tianma
- Uniqarta
- University of Sheffield (Epipix)
- Verlase Technologies
- Visionox
- Vuereal
- X-Celeprint
For more information about this report visit https://www.researchandmarkets.com/r/344nhz
