Micro LED Market: Summary
The Global Micro LED Market is estimated to reach USD 2.8 Billion by 2024 at a CAGR of 72%, Predicts Forencis Research (FSR).Micro Light Emitting Diode (LED) is a technology used for displays made up of microscopic light emitting diodes. 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: Drivers & Restraints
Growing Demand for High Resolution Displays in Smart Devices
As there is a surge in demand for higher resolution displays in the smart devices, micro LEDs will fulfill the demand for better visual results in the near future. Micro LEDs are specifically used in smartphones, head-up displays (HUD), and smartwatches, for high resolution and better visual performance applications under variable luminous conditions.
Hence, this factor is expected to contribute towards the growth of micro LEDs market in the near future.
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Growing Demand of Consumer Electronics
Consumer electronic products are mass produced and are required in almost every aspect by consumers. The consumer electronics faces shift because of technological advancements. Across various electronic products such as televisions, smartwatches, laptops, technological advancements are on a rise owing to consumer buying behavior. Micro LEDs are expected to get integrated in the manufacturing of aforesaid consumer electronic products and this will pave the way for the manufacturing of advanced electronic products.
Thus, growing demand of consumer electronics may contribute in the growth of the micro LED market, during the forecast period.
Technical Barrier in the Manufacturing Process
In the manufacturing process of micro LEDs, mass transfer is done in which LED chip is transferred to the substrate and this process is quite complex to perform. When the chip is transferred from temporary substrate to the final substrate, extra precautions are required to save the chip from any damage. Equipment available to perform this task are time consuming and affect the yield quality and quantity of the micro LEDs produced. The equipment required to make the chips with an emphasis on good yields and mass production will be technologically complex to produce, at present few companies and researchers are striving to overcome this situation.
Thus, barrier in the manufacturing process may hinder the growth of the micro LED market, during the forecast period.
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Micro Led Market: Key Segments
- Segmentation based on type covers: RGB Micro LED, Blue Micro LED,and UV Micro LED
- Segmentation based on panel size covers:Below 2 inch, 2-12 inch, 12-55 inch, 55-100 inch and Above 100 inch
- Segmentation based on application covers: Smartphones, Television, Smartwatch, Laptop and Tablet, Virtual Reality (VR), Augmented Reality (AR)/ Mixed Reality, Commercial Billboards, Micro LED Lighting System
- Segmentation based on end user covers:Consumer Electronics, Automotive, Advertisement, Aerospace and Defense and Others
- Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa andSouth America, with individual country-level analysis.
Micro Led Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Micro LED Market, by Type
- RGB Micro LED
- Blue Micro LED
- UV Micro LED
Micro LED Market, by Panel Size
- Below 2 inch
- 2-12 inch
- 12-55 inch
- 55-100 inch
- Above 100 inch
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Micro LED Market, by Application
- Laptop and Tablet
- Virtual Reality (VR)
- Augmented Reality (AR)/ Mixed Reality
- Commercial Billboards
- Micro LED Lighting System
Micro LED Market, by End User
- Consumer Electronics
- Aerospace and Defense
Flow Meters Market, by Region
- South Korea
- Rest of Asia-Pacific
- The Netherlands
- Rest of Europe
Middle East and Africa
- Saudi Arabia
- Rest of Middle East & Africa
- Rest of South America
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