MicroLED Market - Snapshot
The MicroLED market, which is in the initial stage, is witnessing significant technological advancements across the industry. Developments in the LED industry include the introduction of upgraded MicroLED panels which are exceptionally thin and proficient for the purpose of delivering excellent viewing angle which allow brighter pictures to be delivered with less power consumption.With focus on enhancing consumer experience, MicroLED delivers quick response time and in a compact format. The market for MicroLED is forecast to grow to US$ 286.38 Mn by 2026 from US$ 51.47 Mn in 2017, recording a CAGR of 21.14%.
The MicroLED market has seen demand traction due to the high wavelength uniformity for fine pixel pitch display, with smartphone applications holding the largest share. Smart watches, monitors, laptops, and AR/VR are leading applications that adopt the technology so as to enhance picture clarity and reduce the power consumption.
MicroLED has off late gained traction, though LED & OLED have been long in demand and visual technologies already enjoy strong acceptance among industries and consumers. A close study of recent product launches and developments of key industry participants active in the MicroLED market reveals that in applications such as near to eye camera, VR and MR would continue to dominate the market throughout the forecast period. Non-commercial applications too such as laptops, smartphones, and home theaters are forecast to see demand surge, gaining significant uptake toward the second half of the forecast period of the MicroLED market study.This rise is due to further improvement in consumer acceptance and expected dip in the product prices which is mainly the MicroLED panel display price. Factors such as improvement in consumer spending on personal entertainment is seen as crucial to influence market growth trends for both commercial and non-commercial applications. The MicroLED market however still faces challenges since high volume consumer applications are still out of reach for full scale MicroLED deployment because of expensive price of MicroLED.
These existing technology integration and distribution related challenges offers possible opportunities for the MicroLED system. Any further development and exploration of MicroLED technology in the form of advanced sensing & visible light communication is expected to open new set of unexplored opportunities.
Attracted by this fast expanding market and underlying latent demand, many players are driven to invest in the market for MicroLED technology products and services. Right from display panel manufacturers to device manufacturers, there is a rush of companies across industries strengthening their foothold in the MicroLED market. However, with competition from established players such as Sony Corp., Apple and others, which already have a strong network in the market and technology expertise, new entrants may find it challenging to establish themselves without a unique value proposition. Some of the prominent players in the MicroLED market and profiled in the study include Apple, Inc., Sony Corp, Oculus VR, Ostendo Technologies, LG Electronics, JBD Inc., and Glo AB among others .
MicroLED Market: Overview
This comprehensive report by Transparency Market Research analyzes and forecasts the MicroLED market at the global and regional level. The report provides analysis over the period 2016–2026, wherein 2018 to 2026 is the forecast period and the base year is 2017. An in-depth and unbiased market assessment has been made to offer readers in-depth and accurate analysis. The report highlights all the major trends and services expected to play a key role in the growth of the MicroLED market during 2018 - 2026. It also focuses on market drivers, restraining factors, and opportunities of the MicroLED market during the said period. The study provides a complete perspective about the MicroLED market’s growth throughout the research study in terms of value (in US$ Mn) and Volume (Million Units) across various geographies, including Asia Pacific, South America, North America, Middle East & Africa (MEA), and Europe.
The report includes a detailed value chain analysis, which offers a comprehensive view of the global MicroLED market. Porter’s Five Forces analysis is also provided to understand the competitive scenario in the market. The study incorporates MicroLED market attractiveness analysis, wherein the market segments for display and lighting and significant applications are benchmarked based on their market size, growth rate, and attractiveness in terms of opportunity. In order to offer a complete analysis of the overall competitive scenario in the MicroLED market, every geographic region mentioned in the report is provided with attractiveness analysis.
A market overview chapter in the MicroLED market report explains the market trends and dynamics which include the market drivers, restraining factors, and opportunities for the current and future MicroLED market. A market outlook analysis has also been provided globally in the report. Additionally, the report provides analysis of different business strategies adopted by the key players of theMicroLED market. Market introduction chapter assists in gaining an idea of different trends and services related to MicroLED along with their types and applications.
Global MicroLED Market: Scope of the Report
The study provides a decisive view on the global MicroLED market, by segmenting the market on the basis of type into display and lighting. By application, the market has been classified into smartphone, smart watch, monitor, laptop, tablet, and others. The report provides a detailed breakdown of the MicroLED market region-wise and categorizes it at various levels, thus providing valuable insights at micro and macro levels.
The report highlights the competitive scenario within the MicroLED market, thus ranking all the major players according to the key recent developments and their geographic presence. The insights for the MicroLED market are the result of our extensive primary interviews, secondary research, and in-house expert panel reviews. These market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
On the basis of country, the North America market is bifurcated into Canada, the U.S., and Rest of North America. Furthermore, the Europe market is analyzed across France, Germany, U.K., and Rest of Europe. The APAC MicroLED market is also segmented at country level which includes China, Japan, India, and Rest of Asia Pacific. Middle East &Africa region covers the G.C.C. countries, South Africa, and Rest of Middle East & Africa. Similarly, the South America region includes Brazil and Rest of South America. This report provides all the strategic information required to understand the MicroLED market along with its types and applications. The report provides insights related to the types and different applications according to the various geographical regions mentioned above.
Global MicroLED Market: Research Methodology
The research methodology is a perfect combination of primary research, secondary research, and expert panel reviews. Secondary sources such as annual reports, company websites, SEC filings and investor presentations, national government documents, internal and external proprietary databases, statistical databases, relevant patent and regulatory databases, market reports, government publications, statistical databases, World Bank database, and industry white papers are usually referred. Further, for this report we have specifically focused on data from the SEMI, and WSTS among others.
Primary research involves telephonic interviews, e-mail interactions, and face-to-face interviews for detailed and unbiased reviews on the MicroLED market, across geographies. Primary interviews are usually conducted on an ongoing basis with industry experts and participants in order to get latest market insights and validate the existing data and analysis. Primary interviews offer new and fresh information on important factors such as market trends, market size, competitive landscape, growth trends, etc. These factors help to validate and strengthen secondary research findings. Moreover, the data collected and analyzed from secondary and primary research is again discussed and examined by our expert panel.
Global MicroLED Market: Competitive Dynamics
The research study includes profiles of leading companies operating in the global MicroLED market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Parameters such as MicroLED investment & spending and developments by major players of the market are tracked. Some of the key players in the MicroLED market are Apple, Inc., Sony Corp, Oculus VR, Ostendo Technologies, LG Electronics, JBD Inc., and Glo AB among others.
The MicroLED market has been segmented as follows:
MicroLED Market, by Type
MicroLED Market, by Application
- Smart watch
In addition, the report provides analysis of the MicroLED market with respect to the following geographic segments:
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America