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Micro LED Market Report
Micro LED Market, By Application (Display, Lighting), By End Use (Consumer Electronics, Automotive, Aerospace and Defense, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026.
Impact of COVID-19 on Micro LED Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Micro LED is an innovative and new flat panel display technology. It consists of arrays of microscopic LEDs which form the individual pixel elements. When compared to the widespread LCD technology, microLED displays provide better response times, contrast, and energy efficiency. The LED of small scale is an innovation that is being recognized in the level board show. When compared with LCD creativity, these LEDs furnishes a predominant display with an increased distinction.
The Micro LED Market is estimated to grow from USD 520.4 million in 2020 to USD 14,168.6 million by 2026 at a healthy CAGR of 75.3% during the forecast period.
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Micro LED Market- Research Scope |
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Base Year of Study |
2020 |
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Trend Period |
2015-2019 |
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Forecast Period |
2021-2026 |
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Market Size in 2020 |
US$ 520.4 million |
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Market Size in 2026 |
US$ 14,168.6 million |
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Market Growth (2021-2026) |
75.3% CAGR |
The Micro LED market is mainly driven by the growing penetration of micro-LED displays in NTE devices and premium smartphones. Moreover, the rising demand for brighter & more power-efficient display panels for mobile devices, smartwatches, and AR / VR products and robust interest in electronics giants and interest shown by suppliers in the supply chain boost the product demand in the coming years. In addition to this, the benefits of micro-LED such as improved brightness, lower power consumption, enhanced color saturation, ultrahigh definition picture quality, and a faster response time further bolsters the industry growth.
The outbreak of COVID-19 has negatively impacted the micro-LED industry mainly due to lockdowns imposed by governments around the world to prevent the spread of COVID-19. The pandemic has forced companies to adopt remote working practices. The imposition of lockdown has halted manufacturing activities, disrupted the supply chain, and impacted research and development activities, resulting in delayed production.
Based on end-use, the micro-LED market has been classified into consumer electronics, automotive, aerospace and defense, and others. The consumer electronics segment accounted for the largest market share in 2020. This is mainly attributed to the introduction of a large number of start-ups, with strong R&D investments as well growing sales of consumer electronics among millennials.
By region, the North American Micro LED market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The Micro LED market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the micro-LED. Also, increasing consumer spending as well as expanding the advertising sector further boosts the regional market growth.
The Asia-Pacific Micro LED market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to the growing interest of major consumer electronic giants in APAC in adopting micro-LED technology. For instance, Samsung commercialized a few products into the digital signage vertical. Samsung’s “The Wall” is one of the key products in the micro-LED digital signage vertical.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Micro LED market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026. Following are the critical questions answered in the report.
Key players operating in the global Micro LED Market are-
The target audience of Micro LED Market includes-
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The micro LED market is expected to witness an impressive growth of 75.3% CAGR in the coming years.
Semiconductor Wafer Inc (Taiwan), Innolux Corporation (Taiwan), Sony Corporation (Japan), LG Display Co Ltd. (South Korea), Aledia SA (France), Epistar Corporation (Taiwan), Optovate Limited (UK), Rohinni LLC (US), Samsung Electronics Co. Ltd. (South Korea), JBD Inc. (US), Plessey Semiconductors Limited (UK) are among the key players in the micro LED market.
The micro LED market size is expected to reach USD 14,168.6 million in the foreseeable future.
The consumer electronics segment accounted for the largest share in the micro LED market in 2020.
North America accounted for the largest share in the micro LED market in 2020.
Micro LED Vendors, Micro LED Manufacturers, Micro LED Distributors, Organizations, Government Bodies are the target audience in the micro LED market.
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