Global GaN Micro-LED Market: Overview
The global GaN Micro-LED market is anticipated to experience robust growth during the period of forecast, from 2019 to 2027. Much of the growth is attributed to the increasing number of consumers seeking top-notch inventions integrated with latest display technologies. These days, consumers demand for high-end display product with better brightness but without the need for backlight. This need for more efficacy with reduced power consumption acts in favor of global GaN Micro-LED market.
Based on the parameters of output power, function type, industry vertical, and region, the global GaN Micro-LED market has been segmented for analysis that spans from 2019 to 2027.
To gauge the scope of customization in our reports Ask for a Brochure
Global GaN Micro-LED Market: Notable Developments
The global GaN Micro-LED market has been through some changes in the past years. One such development that has left its mark in the market is as follows:
- In 2019, the U.S. removed the name of Sanan OptoElectronics Co., Ltd, leading manufacturer of light-emitting diode (LED) chips, from the list of foreign organizations that needed additional checks. Following the removal of Sanan OptoElectronics Co., Ltd’s name by the US Department of Commerce, it would now be easier for the Chinese company to operate in a hassle-free way. Such a move is expected to expand the market for GaN Micro-LED products as Sanan OptoElectronics is a leading producer of the same.
Some of the leading market vendors of the global GaN Micro-LED market are as follows
- Sanan Opto Electronics Co., Ltd
- Osram Opto Semiconductors
- Plessey Semiconductors
- Cree, Inc.
- Innolux Corporation
- Lumens Co., Ltd
Looking for Regional Analysis or Competitive Landscape in GaN Micro-LED market, ask for a customized report
Global GaN Micro-LED Market: Key Trends
The following drivers and trends are expected to define the global GaN Micro-LED market during the assessment timeframe.
The Unending Demand for Better Display Accentuates Demand in the Market
Demands stemming from newer consumers are expected to shape the growth trajectory of the global GaN Micro-LED market during the period of assessment. A case in point is growing use of near-eye display (NED) or wearable display to experience virtual reality. The emerging trend of infotainment in automobiles is another instance, which is likely to usher in rapid changes in the way we see normal displays in the automobile today. This is likely to amplify the growth opportunities of the global GaN Micro-LED market in times to come.
It is highly likely that GaN micro-LED will become a mainstream product soon owing to the pace at which technological advancements take place and consumer demand changes. Drop in the price of the products integrated with GaN micro-LED will lead to its use in various applications and wider acceptance among consumers.
Video-streaming services across various platforms are making consumers habituated to high-end home entertainment options, which leaves consumers demand for better display with every invention. Leveraging the consumer cravings for top-notch home entertainment solutions, GaN micro-LED is likely to make its way into the regular household.
On the other hand, the positioning of gallium nitride chemical onto a substrate poses a serious challenge for the manufacturers. Highly complicated design and high cost associated with its manufacturing are expected to restrain the growth of the market during the assessment period. In addition to that, growing consumer interest in flexible and foldable technologies is likely to obstruct the growth of the global GaN micro-LED market.
Global GaN Micro-LED Market: Geographical Analysis
Based on region, the global GaN Micro-LED market has been split into North America, Latin America, Asia-Pacific, Middle East and Africa, and Europe.
From the regional perspective, North America is likely to account for a large share of the the global GaN Micro-LED market, thanks to the presence of many leading technological organization in the region. These companies relentlessly make efforts to bring forth latest innovation into the North American market.
Asia Pacific is another rapidly growing region on the global GaN Micro-LED market. Market players operating from this region are making heavy investment in the development of high-end displays to cater to the market there. Increasing disposable income of the people is offering opportunities of growth for the market in Asia Pacific.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.