Global Micro-LED Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2024

Industry : Semiconductor & Electronics Date : May 4th, 2018
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The global micro LED market is expected to reach USD 10,345 million in 2024 at a CAGR of 61.8%. Factors that drive the growth of market are growing demand for most energy efficient and brighter display, and increasing demand for high luminance in a small format with near-to-eye display radiance. Moreover, rising need of small size electronic devices with high resolution, efficient luminance and longer battery life further augments the growth of the market. Although, it is an energy efficient technology, but mass production and complex manufacturing may sometimes hamper the growth of micro LED market. The years used for the assessment are as follows:

  • Historical year : 2014, 2015 and 2016
  • Base year : 2017
  • Forecast period : 2018 – 2024

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total micro-LED market and it various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the global micro-LED market
  • Finalizing the overall size and share for the global micro-LED market 

OBJECTIVES:  

  • To classify the global micro lighting emitting diode market, segments are classified in offerings, application, end-use, and region and analyze their growth prospects individually
  • To analyze market trends, opportunities, drivers and restraints associated with the global micro-LED market
  • Profiling key companies operating in the global micro-LED market
  • To study market response with respect to the mergers and acquisitions in the industry 

MARKET SCOPE

The research scope for global micro-LED market is as follows:

By Offering

  • Display Panel
  • Lighting Device 

By Application

  • As a display panel
  • Near-to eye (NTE) Devices
  • Smart watches
  • Smart phone and Tablets
  • Laptops and PC monitors
  • Heads-Up Displays(HUD)
  • Digital Signage Displays
  • Others
  • As a lighting device
  • Automotive Lighting
  • General Lighting
  • Others

By End-use

  • Consumer Electronics
  • Automotive
  • Education
  • Sports and Entertainment
  • Retail
  • Residential & Commercial
  • Others

By Region

  • Asia-Pacific (APAC)
  • Europe
  • North America
  • Middle East and Africa
  • Latin America

Micro-LED: A better display technology. Can it beat OLED?

The global micro-LED market is projected to witness a CAGR of 61.8% over the forecast period. The market is likely to reach USD 10,345 million by 2024. The growth of the market is attributed to the growing demand for most energy efficient and brighter display and increasing demand for high luminance in a small format with near-to-eye display radiance. Moreover, rising need of small size electronic devices with high resolution, efficient luminance and longer battery life further augments the growth of the market.

Micro-LED are increasingly gaining more popularity in different areas owing to its cutting edge technology. Unlike organic light emitting diode (OLED), micro-LED offers 30 times higher brightness than OLED can generate. On the basis of offering segment, micro-LED display market held the major  share owing to their better contrast and faster response time. On the basis of application, the smart phone held the major market share due to ease of portability with less power consumption. Furthermore, consumer electronics dominates the global Micro- LED market owing to increasing demand for attractive and high specification display.

Micro-LED market is prevalent in North America. The growth in this region is attributed to the increasing adoption of lighting and display technologies in various verticals including retail, consumer electronics and education sector. APAC region is expected to be the fastest growing market during the forecast period.

In terms of power consumption and better display quality, micro-LED is rapidly increasing its popularity among users. Adoption of the low-energy devices such as smart phones and watches are further augmenting the market growth. Therefore, micro-LED is offering a crystal clear display and can be applied onto a flexible substrate to uplift the demand of this technology.

micro led market

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology

1.1. Research methodology

1.2. Research scope & assumptions

1.3. List of data sources

CHAPTER 2. Executive Summary

2.1. Micro LED- Market Snapshot

CHAPTER 3. Industry Analysis

3.1. Market definition

3.2. Market segmentation

3.3. Key findings of the Micro-LED Market

3.4. Value chain analysis

3.5. Market opportunities & trends

3.6. Market dynamics

3.6.1. Market driver analysis

   3.6.1.1. Increasing demand for brighter and power efficient display panels for various applications

   3.6.1.2. Growing demand for most energy efficient and brighter display

3.6.2. Market restraint analysis

  3.6.2.1. Mass production and complex manufacturing

  3.6.2.2. High demand of flexible display market

3.6.3. Industry Analysis-Porters five forces of analysis

CHAPTER 4. Competitive Outlook

4.1. Competitive analysis

4.2. Competitive factors

4.3. Strategies adopted

CHAPTER 5. Global Micro-LED Market Size and Forecast (2014 – 2024)

5.1. Global Micro-LED Market, By Offering (USD Million)

5.1.1. Display Panel

5.1.2. Lighting Device

5.2. Global Micro-LED Market, By Application (USD Million)

5.2.1. As a display panel

5.2.1.1. Near-to eye (NTE) Devices

5.2.1.2. Smartwatches

5.2.1.3. Smart phone and Tablets

5.2.1.4. Laptops and PC monitors

5.2.1.5. Heads-Up Displays(HUD)

5.2.1.6. Digital Signage Displays

5.2.1.7. Others

5.2.2. As a lighting device

5.2.2.1. Automotive lighting

5.2.2.2. General lighting

5.2.2.3. Others

5.3. Global Micro-LED Market, By End-use (USD Million)

5.3.1. Consumer Electronics

5.3.2. Automotive

5.3.3. Education

5.3.4. Sports and Entertainment

  5.3.5. Retail

  5.3.6. Residential & Commercial

  5.3.7. Others

CHAPTER 6. Global Micro-LED Market Size and Forecast, By Geography

6.1. North America Micro-LED Market (USD Million)

6.1.1. North America Micro-LED Market, By Offering (USD Million)

6.1.2. North America Micro-LED Market, By Application (USD Million)

6.1.3. North America Micro-LED Market, By End-use (USD Million)

6.1.4. North America Micro-LED Market, By Country (USD Million)

  6.1.4.1. U.S.

  6.1.4.2. Canada

6.2. Europe Micro-LED Market (USD Million)

6.2.1. Europe Micro-LED Market, By Offering (USD Million)

6.2.2. Europe Micro-LED Market, By Application (USD Million)

6.2.3. Europe Micro-LED Market, By End-use (USD Million)

6.2.4. Europe Micro-LED Market, By Country (USD Million)

  6.2.4.1. Germany

  6.2.4.2. France

  6.2.4.3. U.K.

  6.2.4.4. Rest of Europe

6.3. Asia-Pacific Micro-LED Market (USD Million)

6.3.1. Asia-Pacific Micro-LED Market, By Offering (USD Million)

6.3.2. Asia-Pacific Micro-LED Market, By Application (USD Million)

6.3.3. Asia-Pacific Micro-LED Market, By End-use (USD Million)

6.3.4. Asia-Pacific Micro-LED Market, By Country (USD Million)

  6.3.4.1. China

  6.3.4.2. Australia

  6.3.4.3. Japan

  6.3.4.4. Singapore

  6.3.4.5. South Korea

  6.3.4.6. India

  6.3.4.7. Rest of Asia-Pacific

6.4. Middle East and Africa (MEA) Micro-LED Market (USD Million)

6.4.1. Middle East and Africa (MEA) Micro-LED Market, By Offering (USD Million)

6.4.2. Middle East and Africa (MEA) Micro-LED Market, By Application (USD Million)

6.4.3. Middle East and Africa (MEA) Micro-LED Market, By End-use (USD Million)

6.4.4. Middle East and Africa (MEA) Micro-LED Market, By Country (USD Million)

  6.4.4.1. South America

  6.4.4.2. Africa

6.5. Latin America Micro-LED Market (USD Million)

6.5.1. Latin America Micro-LED Market, By Offering (USD Million)

6.5.2. Latin America Micro-LED Market, By Application (USD Million)

6.5.3. Latin America Micro-LED Market, By End-use (USD Million)

6.5.4. Latin America Micro-LED Market, By Country (USD Million)

  6.5.4.1. Mexico

  6.5.4.2. Chile

  6.5.4.3. Rest of Latin America

CHAPTER 7. Key Players and Strategic Developments

7.1. Apple Inc.

7.1.1. Business Overview

7.1.2. Product and Service Offering

7.1.3. Financial Overview

7.1.4. Strategic Developments

7.2. Sony Corp.

7.2.1. Business Overview

7.2.2. Product and Service Offering

7.2.3. Financial Overview

7.2.4. Strategic Developments

7.3. Aledia

7.3.1. Business Overview

7.3.2. Product and Service Offering

7.3.3. Financial Overview

7.3.4. Strategic Developments

7.4. Oculus VR

7.4.1. Business Overview

7.4.2. Product and Service Offering

7.4.3. Financial Overview

7.4.4. Strategic Developments

7.5. X-Celeprint Ltd.

7.5.1. Business Overview

7.5.2. Product and Service Offering

7.5.3. Financial Overview

7.5.4. Strategic Developments

7.6. Ostendo Technologies, Inc.

7.6.1. Business Overview

7.6.2. Product and Service Offering

7.6.3. Financial Overview

7.6.4. Strategic Developments

7.7. Verlase Technologies LLC.

7.7.1. Business Overview

7.7.2. Product and Service Offering

7.7.3. Financial Overview

7.7.4. Strategic Developments

7.8. Rohini LLC

7.8.1. Business Overview

7.8.2. Product and Service Offering

7.8.3. Financial Overview

7.8.4. Strategic Developments

7.9. Epistar Corporation

7.9.1. Business Overview

7.9.2. Product and Service Offering

7.9.3. Financial Overview

7.9.4. Strategic Developments

7.10. Cooledge Lighting Inc.

7.10.1. Business Overview

7.10.2. Product and Service Offering

7.10.3. Financial Overview

7.10.4. Strategic Developments

7.11. Abbreviation

Global Micro-LED Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation and Forecast 2024