Global micro LED display market size is anticipated to gain remarkable traction over 2018-2024, driven by the escalating demand for bright and power-efficient display solutions across the globe.
The micro LED display technology delivers superior display along with a high-degree contrast as compared to the LCD technology. Moreover, these micro LED devices can provide lesser response time as well as are energy efficient as they consume low power. These aforementioned factors are likely to influence the adoption of the technology and in turn, add impetus to overall micro LED display market expansion over the forecast spell.
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Rising number of miniaturized electronic products has inspired manufactures to develop small size panels incorporating the micro LED technology, since an improved display not only signifies a product’s quality but also is safer for a consumer’s eyes. As such, adoption of the technology in daily encountered display devices such as screens, signages, near-to-eye devices, HMDs and automotive lights will enormously benefit the micro LED display market. Compared to OLED or other display technologies, the brighter micro LEDs do not lose their luster due to natural aging over time, maintaining the quality of picture and brightness whereas OLEDs manufactured at the same time start to fade. Placing of individual parabolic mirrors behind LEDs causes all of the light to be reflected towards the viewer, resulting in a very high brightness capability and makes the micro LEDs more power efficient. Owing to the long-life and highly-efficient characteristic, the market is gradually being embraced by the booming smartwatch segment.
The explosion of smartwatches across global markets is a direct result of the smartphone frenzy that has garnered the devotion of billions of consumers. A report estimates that within the next three years itself the sale of smartwatches could surpass 80 million units, showcasing the growth potential of the micro LED display market. A smartwatch is designed to perform numerous functions, ranging from displaying time & messages, picking up phone calls to GPS tracking, measure heart rates and other health factors. Having the need to communicate all this information throughout the day while consuming less energy to last a whole day, the smartwatches segment is an ideal consumer market for powerful and long-lasting small micro LED display panels. The tremendous opportunities for the market can be surmised by looking at the sales figures of smartphone giant Apple, which reportedly sold 8 million Apple watches in the fourth quarter of 2017.
Expounding further, Apple recently announced that it shipped out around 3.5 million smart watches in the second quarter of 2018, leading the smartwatch segment and the company is investing heavily in using the micro-LED technology in it’s smart watches. Fossil, which is primarily into analog and chronograph watches had ventured into the smartwatch domain and reported improved sales of USD 300 million from wearable devices. With a host of other players like Fitbit, Garmin, Xiaomi and Samsung looking to introduce better smartwatch products, and other near-to-eye display devices like AR/VR headsets gaining popularity at an immense rate, the small micro LED display market is anticipated to witness an incredible CAGR of over 105% from 2018 to 2024. The progress of the large market has also been extraordinary, ensuing from significant advancements achieved in developing innovative display panels that can fit together to create big screens or signages.
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From a regional perspective, the Asia Pacific micro LED display market is anticipated to witness a considerable growth rate over the coming years, which is attributable to the mounting demand for high-quality and low-cost smartphones.
Furthermore, the region has been observing high prominence of the smartphone industry owing to the increasing penetration of network infrastructures. Rising number of LED and display manufacturers in the region, coupled with the rapid shift of the traditional manufacturers towards new technologies and components, will make significant contributions to the regional market trends over the projected timeframe.
The competitive landscape of the micro LED display market comprises of companies such as VerLASE Technologies, Plessey Semiconductors, Aledia, X-Celeprint, Sony Corporation, Epistar, and Samsung Electronics, among others. These market players are focusing on gaining lucrative growth opportunities via strategies such as R&D, M&A, innovative product launches, and business expansions.
Major Key Points from Table of Content:
Chapter 4. Micro LED Display Market, By Application (Revenue, Shipment)
4.1. Key trends in market by application
4.2. AR headsets
4.2.1. Market estimates and forecast, 2018 – 2024
4.3. VR headsets
4.3.1. Market estimates and forecast, 2018 – 2024
4.4.1. Market estimates and forecast, 2018 – 2024
4.5.1. Market estimates and forecast, 2018 – 2024
4.6.1. Market estimates and forecast, 2018 – 2024
4.7.1. Market estimates and forecast, 2018 – 2024
4.8. Digital signage
4.8.1. Market estimates and forecast, 2018 – 2024
4.9.1. Market estimates and forecast, 2018 – 2024
4.10. Laptops & desktops
4.10.1. Market estimates and forecast, 2018 – 2024
Chapter 5. Micro LED Display Market, By Panel Size (Revenue, Shipment)
5.1. Key trends in market display by panel size
5.2. Small (less than 10.5”)
5.2.1. Market estimates and forecast, 2018 – 2024
5.3. Medium (between 10.5” and 65”)
5.3.1. Market estimates and forecast, 2018 – 2024
5.4. Large (more than 65”)
5.4.1. Market estimates and forecast, 2018 – 2024
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