The recently published report by QY Research, titled “Global Micro-LED Market Research Report 2019,” provides an overview of the market scenario. The report provides top-line data related to the players, consumer behavior, investments, and segments. The report also predicts the future of the market by making a thorough evaluation of the market drivers, restraints, threats, and opportunities.
According to the report, the global micro-LED market was valued at US$3.01 mn in the year 2018 and is likely to reach US$14 bn by 2025. The market will register an exponential CAGR of 115.48% between 2019 and 2030.
Global Micro-LED Market: Drivers and Restraints
The global market for micro-LED is gaining traction because of high uniformity of wavelength for fine pixel pitch display. Monitors, smartwatches, AR/VR, and laptops are the major application areas. The adoption is expected to remain high as the technology enhances the picture clarity and decreases power consumption. The increasing demand for LED products such as OLED and LED lights or bulbs and visual technologies is expected to remain on the rise as the consumers are vary about their carbon footprint. All of these factors are expected to propel the global micro-LED market in the coming years.
In addition, factors such as growing disposable income of the consumer is also projected to have a positive influence on the market. Moreover, the growing demand for bright and power-efficient display panels and the rising preference of electronic appliances equipped with micro-LED displays bode well for the market in the coming years.
However, the high cost of the micro-LED display will hamper the growth of the market during the predicted period.
Global Micro-LED Market: Regional Outlook
Asia Pacific is expected to dominate the market for micro-LED due to presence of key manufacturers and LED foundries in this region. The recent technological advancements have led to increasing the interest rate for the micro-LED in this region. The sheer number of consumers, especially in the developing economies of China and India, are also expected to boost the growth of the micro-LED market in this region.
Global Micro-LED Market: Segment Analysis
The global market for micro-LED is segmented into applications and product type. The product type segment includes large-size panels, small-sized panels, and medium-sized panels. Small and medium-sized panels are likely to grab the largest market share as they are predominantly used in the production of laptops, smartphones, monitors, and tablets.
The application segment includes TV, cellphone, AR/VR, wearable watches, and others such as automotive display.
Global Micro-LED Market: Leading Manufacturers
Some of the top players operating in the global market micro-LED are eLux, Inc., Samsung Electronics, Lumiode, Apple, AU Optronics, Sony, Plessey Semiconductors, Jbd, VueReal, Lumens, Innolux Corporation, and LG Display.
Global Micro-LED Market: Competitive Landscape
ELux presented 12 micro-LED color display at Display China 2019 at Shanghai in June 2019. In the meeting, the company’s CEO Dr. JJ Lee presented the fluidic assembly principal, which can complete the mass transfer on a 12-inch display within 15 minutes. Companies are participating in the events to display their new products and gain attraction of the consumer towards their products.
Full Report Overview@ https://www.qyresearch.com/index/detail/1214040/global-micro-led-market