Micro LED Display Market Expected To Reach US $ 24,307.4


New York, United States, January 12, 2022 (GLOBE NEWSWIRE) – Market Snapshot:
According to a comprehensive research report from Market Research Future (MRFR), “Micro-LED Display Market information by panel size, vertical, application and region – forecast to 2027The market size will reach $ 24,307.4 million, with a compound annual growth rate of 82.1% by 2027.

Market scope:
The global micro-LED display market is experiencing rapid traction. The rapid shift from quantum dot LEDs to micro LEDs and OLEDs describes the growing market landscape. Micro-LED displays are in huge demand due to their high energy efficiency and quality imaging qualities.

The Major Key Players in the Covered Micro LED Display Market are:

  • X-Celeprint (Ireland)
  • LG Electronics Inc (South Korea)
  • Epistar Corporation (Taiwan)
  • Elux Inc. (United States)
  • Nanosys Inc. (United States)
  • JBD (Shanghai)
  • Sony Corporation (Japan)
  • Aledia (France)
  • Samsung Electronics (South Korea)
  • PlayNitride Inc. (Taiwan)
  • Plessey (Devon)

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USP market exclusively encompassed:
Market factors
The major factors that boost the market demand include the increasing adoption of micro-LED display technology due to its dynamic displays with low power consumption and use in various applications. In addition, the growing demand for micro LED displays in smartphones, computer monitors, tablets and televisions is driving the growth of the market.

The increasing adoption and demand for energy efficient display solutions and improved display technologies offers significant market opportunities. In addition, the growing demand for head-up displays in the automotive industry to improve the consumer experience and ensure safety is acting as a major growth engine.

Increased investment in R&D and adoption of micro-LED displays in telecommunications, commerce, healthcare and defense sectors would increase market share. Despite lucrative growth opportunities, the micro LED display industry faces underlying challenges, such as technological complexities, which are significant headwinds for the market rise.

Moreover, the high costs and compatibility issues associated with installation are significant challenges which are slowing the market growth. The high initial investments required for technological developments, changing consumer preferences and manufacturing techniques are key factors that pose major challenges. Moreover, the low rate of adoption of the technology is a key factor hampering the growth of the market.

Nonetheless, large deployments of micro-LED displays in smartphones, PC monitors, tablets and TVs would support market growth throughout the evaluation period. In addition, the strong adoption of micro-LED screens in mobiles and smartphones would promote the growth of the market.

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Market segmentation covered by research:
The market report is segmented into panel size, applications, verticals, and regions. Among these, the panel size segment is divided into micro displays, small and medium size panels, and large panels. Further, the application segment is divided into smartphones and tablets, NTE devices, TVs, monitors and laptops, digital signage, smart watches, head-up displays and others.

The vertical segment is divided into consumer electronics, entertainment and advertising, automotive, aerospace and defense, and others. The regional segment is sub-segmented into Asia-Pacific, Americas, Europe and Rest of the World.

Regional analysis
The Asia-Pacific region dominates the global micro-LED display market. In 2020, the region accounted for the largest market share of 34.4%. The increasing penetration of connected mobile devices increases the need for LED displays directly. Besides, the growing demand for automotive HUD in this region and the gradual strengthening of the economy in India, China and countries in Southeast Asia are increasing the market value.

In addition, the major display manufacturers are moving their bases to the rapidly developing countries in the region, which is giving a huge boost to the market share of micro-LED displays. The advancement in automotive and display technologies, along with the growing number of OEM and aftermarket companies, justifies the size of the market. In addition, the growing demand for automotive HUD in the mid-range car segment and improving socio-economic conditions create significant market opportunities.

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Impact of COVID-19 on the Global Micro-LED Display Market
The recent COVID-19 pandemic has severely affected the micro-LED display industry. Logistics issues brought on by the pandemic posed major challenges, such as obtaining raw components and attracting manpower from quarantine and delivering end products to market. On the other hand, foreclosure and working from home have increased sales of various consumer electronics devices, such as computers, laptops, and televisions.
As a result, the micro LED display market is gradually preparing and witnessing various product launches. The market is expected to recover and grow exponentially in 2021 and beyond.

Competitive analysis
The market for micro-LED screens appears very competitive due to the presence of several leading players. Industry players seek integration opportunities across the extended value chain to gain greater momentum, focusing on the expansion of their production facilities, R&D investments and M&A activities .

For example, recently on December 9, 2021 Questex, the preeminent event and digital platform for the digital signage industry, announced Sony Electronics’ participation in Digital Signage Experience (DSE) as a sponsor. main for 2022. Sony offers professional displays, large-scale micro-LED displays, video walls and all-in-one solutions with software.

The updated event plans to showcase innovations and technological solutions from leading manufacturers in the market, providing educational training experiences and networking opportunities to attendees. Sony Electronics is reportedly the main sponsor of the DSE show, which will take place March 22-24, 2022 at the Las Vegas Convention Center.

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