Covina, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Micro LED offers better response times, energy efficiency and contrast while comparing with the widespread LCD technology. Further, the micro LED can be integrated easily to sensors and circuits and increase the sensing capacity such as to the identification of the fingerprint and control over the gesture.
Rising demand for bright and power-efficient display which is the major driving factor for the growth of the global market. Rising new and advanced development in the micro LED electronics is likely to propel target market growth. The growing continuous demand for smartphones in developing regions is anticipated to increase the demand for Micro LED market growth.
Key Highlights:
- In August 2023, Samsung launched new ultra-premium Micro LED TV with 110 inch for Rs. 1.15 crore. The Micro LED units used in premium Samsung TV are made from Sapphire material for delivering exceptional viewing experience to ensure that TV lasts for long.
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Some of the key trends that are shaping the microLED market today include:
- Mini-LEDs as a bridge technology: Mini-LEDs are a bridge technology between LCDs and microLEDs. Mini-LED displays offer some of the benefits of microLED displays, such as high brightness and contrast ratio, at a lower cost. This is making mini-LED displays a popular choice for a variety of applications, such as TVs and monitors.
- Development of new microLED manufacturing processes: Manufacturers are constantly developing new microLED manufacturing processes to reduce the cost of microLED displays and improve their yields. This is expected to make microLED displays more affordable and accessible in the coming years.
- Expanding range of microLED applications: MicroLED displays are being used in an expanding range of applications, such as wearable devices, augmented reality (AR) and virtual reality (VR) headsets, and automotive displays. This is expected to further drive the growth of the microLED market in the coming years.
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Analyst View:
Growing market consolidation activities, presence of major players and rising strategic partnerships across globe has fueled the demand for target market growth. Further, rising requirement for high brightness and low power-consuming display panels is expected to foster the demand for Micro LED market growth.
The prominent player operating in the global micro led market includes, Apple, Inc. (Luxvue), Sony Corporation, LG Display Co. Ltd Intuitive Surgical, Inc., Aledia SA, Epistar Corporation, VerLASE Technologies, Rohinni LLC, Samsung Electronics Co. Ltd., JBD Inc., and Glo AB.
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