MICRO LED MARKET TO REACH USD 2.8 BILLION BY 2024 | CAGR 72% – FORENCIS RESEARCH

Micro LED Market Size, Share, Trends, Growth, Analysis, Research

Global Micro LED Market: Key Highlights

  • According to the new market research report Micro LED Market by Type (RGB Micro LED, Blue Micro LED, UV micro LED), by Panel Size (<2”, 2”-12”, 12”- 55”, 55”-100”, >100”), by End User (Consumer Electronics, Automotive, Others), by Region (Asia Pacific, Europe, Middle East and Africa, South America, North America) – Global Forecast 2017 to 2024”, the global Micro LED Market is estimated to reach USD 2.8 Billion by 2024 at a CAGR of around 72% during the review period.
  • Micro LEDs use small pixel size compared to conventional LEDs and they also have self-emissive technology which reduces its dependence on backlighting.
  • Owing to these features, micro LEDs display panels are slimmer and provide extremely high resolution for various end use applications. Micro LEDs are very power efficient and produce brighter pictures.

Micro LED Market

Global Micro LED Market: Key Market Dynamics

  • Growing demand for high resolution displays in smart devices which will lead to give high luminance and resolutions mostly for visual performance. Also it has the ability to provide the next generation technology for the industrial growth.
  • Growing demand of consumer electronics will advance the product by its features such as customization and help the user to reduce operational cost which may fuel the growth of the market.
  • The companies such as Apple, Sony and Samsung, is witness to result in the fast commercialization of micro-LED display technology which will lead to rise the market demand.
  • Defect management and repair technology may hinder the market grow as the micro LED chips are present in very tiny size and where Micro LED display makers face a great challenge for the testing and repairing process.

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Global Micro LED Market: Regional Overview

  • Asia-Pacific

According to the World economic forum, China is going a largest in the field of research and development by expecting 70% higher in 2017 as compare to 2012. According to the Australian Trade and Investment Commission, the Made in China 2025 and the Internet plus are planning to reach the China’s manufacturing sector with the value chain by advancing and growing innovative technology system.

Hence, the countries such as Japan and India government are also taken an initiative for the technologies adoption in the region for the economic growth and development.

  • Europe

Germany is one of the world major player in the field of technology, and research and development. Also, the UK is one of the leading market player in adoption new technologies to advance the public services. According to the World Economic Forum, in 2019 the USD 4.4 Billion which will represent 12% of the total capital for the development of the region. Its technologies innovation and development may lead to enhance the adoption rate and market growth in the forecast period.

Global Micro LED Market: Key Players Overview

  • Taiwan Semiconductor Mfg. Co. Ltd.:

Taiwan Semiconductor Mfg. Co. Ltd. Is a multinational semiconductor company. The company offers an integrated circuit fabrication processes to manufacture CMOS logic, on-volatile memory and BiCMOS chips. In 2018, the company is collaborating with Apple on the product Wearable/VR/laptop Micro-LED displays. Also the company and Apple are focusing on the small sized micro LED on silicon based backplane which will includes AR applications as well as wearable devices.

  • Japan Display Inc.:

Japan Display Inc. is design, develop, manufacture and sale of small and medium-sized display devices.  Also it is an electronic and electrical management company based out of Landic. The company has developed transparent display with 87% high transparency. The main advantaged of the Micro LED display is to view wide angles and high brightness. In 2019, the company has announced the development of prototype micro LED display which will enhance the next generation display.

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Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Published : 2020-01-21