DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Micro-LED Market by Offering (Display Panel and Lighting Device), Application (Smartwatch, NTE Device, Smartphone & Tablet, Laptop & PC Monitor, TV, HUD, Digital Signage Display, Lighting), Vertical, and Geography - Global Forecast to 2025" report to their offering.
The micro-LED market is estimated to be valued at USD 254.1 million in 2017 and is likely to reach USD 19,921.3 million by 2025, at a CAGR of 54.7% between 2019 and 2025
Increasing demand for brighter and more power efficient display panels for several applications and increase in applications as well as adoption rate of near-to-eye (NTE) devices are the major drivers for the market growth. Factors such as rising demand for OLED displays, high growth of the flexible display market, and adoption of folded displays for smartphones in the near future are restraining the growth of the market.
There is a huge market potential for micro-LED display devices in the consumer electronics vertical due to the increasing demand for devices such as smartphones and smart wearables. Smartphones are expected to witness high growth in shipments between 2021 and 2025. Premium smartphones in the display market usually incorporate the latest available display technology owing to superior quality pictures that it offers. Micro-LED technology, once commercialized for smartphones, is expected to penetrate into the premium smartphone market at a high rate.
North America is expected to hold the largest share of the micro-LED market owing to the high adoption rate of the latest display and lighting technologies, especially in the consumer electronics and retail verticals. The market in the APAC region is expected to grow at the highest rate due to the presence of major display panel manufacturers, LED foundries, and brand product manufacturers in the region-companies usually launch their new products or technologies in their native regions. Early exposure to the latest display and lighting products is expected to be the driving factor for the growth of the market in the consumer electronics and other industries in APAC.
- Increasing Demand for Brighter and More Power Efficient Display Panels for Several Applications
- Increase in Applications as Well as Adoption Rate of Near-To-Eye (NTE) Devices
- Increasing Interests From Electronics Giants-Apple and Sony
- Rising Demand for Oled Displays
- High Growth of the Flexible Display Market and Adoption of Folded Displays for Smartphones in the Near Future
- Saturated Shipment of TV and PC Monitors in 2015 and 2016
- Growing Smart Wearable Devices Market
- Manufacturing of LEDs on Silicon Wafers
- Penetration of Micro-LEDs Technology-Based Products in the Display Panel Market to A Large Extent
- Maintaining the Balance in Tradeoff Between Pixel Volume and Pixel Density
- Necessity to Adapt Different Manufacturing Processes as Well as Make the Equipment Compatible and Associated Costs
- Improve Mass Transfer of Micro-LEDs With High Yield
- ALLOS Semiconductors GmbH
- Apple Inc. (Luxvue)
- Cooledge Lighting Inc.
- Epistar Corporation
- GLO AB
- Hong Kong University of Science and Technology (HKUST)
- III-V Lab
- Industrial Technology Research Institute (ITRI)
- Lumiode, Inc.
- mLED Ltd.
- Mikro Mesa Technology Co., Ltd
- Oculus VR (Infiniled Ltd.)
- Ostendo Technologies, Inc.
- Rohinni LLC
- Sony Corp.
- Verlase Technologies LLC
- X-Celeprint Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/5vzhsd/microled_market