Micro LED Display Market Size to Grow by USD 11.50 billion, Rise in Demand For Bright and Power-efficient Display Panels to Boost Market Growth – Technavio

The “Micro LED Display Market by End-user (Consumer electronics, Automotive, Aerospace and defense, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa) – Forecast and Analysis 2022-2026″ report has been added to Technavio’s offering.

The potential growth difference for the micro LED display market size between 2021 and 2026 is USD 11.50 bn. To get the exact CAGR and the Y-O-Y growth rate, Request a FREE PDF Sample Report.

Key Market Dynamics

• Market Driver: The rise in demand for bright and power-efficient display panels is driving the growth of the market. The demand for brighter and more energy-efficient devices is rising, which is increasing the adoption of LED technology. A micro LED display consists of a group of tiny LEDs that make up a single pixel element. Micro LEDs can be used to create self-emitting screens, and they do not need a backlight panel. Hence, these displays have lower power consumption than other technologies such as LEDs and OLEDs.
• Market Challenge: The cyclical nature of the semiconductor industry is challenging the growth of the market. Forecasting the global semiconductor industry is difficult due to fluctuations in the demand for electronic products such as consumer electronic devices and mobile devices. Moreover, these fluctuations can lead to the oversupply or undersupply of semiconductor ICs. Such fluctuations can lead to high inventory and manufacturing costs. Hence, vendors would need high working capital. In addition, incorrect forecasts or cancellations can adversely affect the operating costs of vendors.

Market Segmentation

The micro LED display market report is segmented by end-user (consumer electronics, automotive, aerospace and defense, and others) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). APAC will be the leading region with 36% of the market’s growth during the forecast period. China, India, and South Korea are the key countries for the micro LED display market in APAC.

Vendor Landscape

The micro LED display market is fragmented. The market includes a substantial number of international and regional vendors. Some prominent vendors operating in the global micro LED display market are Apple Inc., Samsung Electronics Co. Ltd., Sony Group Corp., Aledia, eLux Inc., Nanosys Inc., LG Electronics Inc., and PlayNitride Inc. There are a lot of growth opportunities because of the growing demand for micro LED displays in developing countries of APAC, South America, and MEA. Vendors in the market are investing in R&D and product development activities, which is likely to intensify the competition among them during the forecast period.

Some Companies Mentioned

• Aledia
• Apple Inc.
• AU Optronics Corp.
• eLux Inc.
• Innolux Corp.
• Japan Display Inc.
• JBD
• LG Electronics Inc.
• Lumens Co. Ltd.
• Nanosys Inc.
• Optovate Ltd.
• PlayNitride Inc.
• Plessey Semiconductors Ltd.
• Rohinni LLC
• Samsung Electronics Co. Ltd.
• Sony Group Corp.
• VueReal Inc.

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