Overview
Globally, the size of micro-LED Display market is set to grow at a CAGR of 81.5% from a value of USD 592 Million in 2020 to hit USD 21,169 Million by 2027 driven by Increasing Demand for Brighter and more Power-Efficient Display Panels for Consumers Electronic Devices. The micro-LED display market research report offers a comprehensive analysis of the global micro-LED display market and its panel size, region, vertical, and application segments. The need for improving micro-led production along with mass transfer processes are the elements that could influence the micro-LED display market advancement throughout the forecast period. The micro-LED display market research report by expert analysts is developed to assist organizations in the micro-LED display market.
Micro-LED (light-emitting diode) displays are a type of display technology that offer high brightness, contrast, and color gamut, while consuming low power. These displays consist of a large number of tiny LEDs that are individually controlled to produce images or video. The micro-LED display market is expected to grow rapidly in the coming years due to several factors.
One of the main drivers of the micro-LED display market is the increasing demand for high-resolution displays in various applications, such as smartphones, tablets, TVs, and smartwatches. Micro-LED displays are capable of producing extremely high pixel densities, which can result in very sharp and detailed images.
Another factor driving the growth of the micro-LED display market is the increasing demand for energy-efficient displays. Micro-LED displays consume much less power than traditional LCD and OLED displays, which can help to extend the battery life of mobile devices and reduce energy consumption in other applications.
The automotive industry is also expected to drive the growth of the micro-LED display market, as micro-LED displays can be used for head-up displays, rear-seat entertainment systems, and other applications.
Industry News
The 2021 range of Neo QLEDs, MICRO LEDs and Lifestyle TV displays was recently unveiled by Samsung Electronics Co., Ltd. during its first virtual First Look event before CES 2021. The new line emphasizes Samsung's dedication to connectivity, sustainable development and creativity, through new progress that helps redefine the role of TV in consumer households. Accessibility features in Samsung 2021 – now available on all QLED and Neo QLED 2021 versions – bring up to date technical and artificial intelligence (AI) developments to make more people enjoy their TV experience comfortable.
Market Segmentation
The global micro-LED display market has been segmented based on panel size, region, vertical, and application. On the basis of panel size, the market for micro-LED display is segmented based on large panel, small and medium-sized panel, and microdisplay. Additionally, the market on the basis of vertical, is segmented into aerospace defense, automotive, entertainment advertisement, consumer electronics, and others. The global market for micro-LED display is also covered based on the application segment which is further split into digital signage, head-up display, laptop, monitor, NTE devices, smartphone and tablet, television, and smartwatch.
Major elements such as low yield could obstruct the micro-LED display market growth. However, according to the micro-LED display market research report, growing preference of consumers towards micro-LED display along with high-end products entering the market will propel growth throughout the forecast period. The micro-LED display market is set to register growth at a high CAGR owing to these key factors. The exploration of panel size, region, vertical, and application segments along with regional markets has been given in the global micro-LED display market research report. The research analysts studying the micro-LED display market have put out market forecasts in the micro-LED display market research report in order to support micro-LED display market-based companies. The micro-LED display market research report provides an extensive understanding of the micro-LED display market based on the information and forecasts till 2027.
Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for micro-LED display are predominantly covered in the global micro-LED display market research report. Country-level micro-LED display markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level micro-LED display markets are covered in the report. In Asia-Pacific (APAC) region, the country-level micro-LED display markets covered are Japan, India, China, and others. The micro-LED display market research report also explores the regional market for micro-LED display present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The micro-LED display market research report also covers regional markets from the rest of the world alongside micro-LED display markets of Africa and the Middle East.
Competitive Landscape
Increasing demand for electronic devices and the use of micro-LED in wearables are presumed to drive the micro-LED display market growth worldwide. The global micro-LED display market could be challenged by high cost, nevertheless, organizations in the micro-LED display market will carry the growth rate forward. The micro-LED display market research report presents company profiles of major companies active in the micro-LED display market globally. Furthermore, the global micro-LED display market report offers an all-inclusive analysis of the market collected from the micro-LED display market’s primary and secondary sources covering both decision makers and thought leaders. The micro-LED display market research report highlights such key areas assisting businesses operating in the micro-LED display market to build better growth strategies.
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