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Micro LED Display Market Size

Report ID: GMI2713
Published Date: Jul 2018
Report Format: PDF

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Micro LED Display Market Size

Micro LED Display Market size exceeded USD 250 million in 2018 and is projected to grow at over 115% CAGR between 2018 and 2024. The rising demand for fine pitch panels is expected to propel the market growth.

The micro LED display panels are being increasingly used in applications, such as outdoor displays, for businesses due to their properties such as high-brightness, self-illumination, and vivid colors. These components provide high wavelength uniformity suitable for fine pitch panels.

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The growing trend of miniaturization of electronics is encouraging the manufacturers to reduce the panel size used in several applications including handheld devices and near-to-eye displays. Furthermore, miniaturization between each pixel lowers the cost of displays as compared to the traditional components. These components are expected to be increasingly used in small electronic devices such as smartwatches and smartphones.

The micro LED display market is in the development phase and lacks well-established distribution channels, making it difficult for the manufacturers to switch from traditional components to technologically advanced components. Additionally, due to the newness and lack of awareness regarding the technology, there exists no patent portfolio. This hampers the industry growth in the short term but provides opportunities to the players in the long run.

Micro LED Display Market Report Attributes
Report Attribute	Details
Base Year:	2018
Micro LED Display Market Size in 2018:	250 Million (USD)
Forecast Period:	2018 to 2024
Forecast Period 2018 to 2024 CAGR:	115%
2024 Value Projection:	14 Billion (USD)
Historical Data for:	2013 to 2017
No. of Pages:	270
Tables, Charts & Figures:	226
Segments covered:	Panel Size, Application and Region
Growth Drivers:	Increasing demand for brighter and power-efficient displays for electronic devices Increasing penetration of near-to-eye devices in the U.S. Increasing usage of near-to-eye devices in healthcare and corporate sectors Adoption of advanced displays in HUD in automobile industry Growing penetration of technology in digital signage applications in Germany Increasing usage of wearable devices in France and Italy Increasing investment for technological advancements in Asia Pacific Penetration of smartphones in MEA Increasing use of AR/VR headsets in gaming in Latin America
Pitfalls & Challenges:	High costs for mass production Lack of awareness among electronic component manufacturers Lack of standardization and patent registrations High costs required to manufactures large panel displays

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Authors: Suraj Gujar

Frequently Asked Questions (FAQ) :

The market size of micro led display exceeded USD 250 million in 2018.

The industry share of micro led display is projected to grow at over 115% CAGR between 2018 and 2024.

U.S. market size is anticipated to surpass USD 7 billion by 2024 impelled by the rising demand for electronic devices such as smartphones, tablets, and smartwatches.

The large micro LED display shipments will cross 35 million units by 2024 led by the growing use of the technology in the digital signages, particularly in indoor applications.

The key players operating in the market are LG, Apple, Inc., Samsung, Sony, Sharp Electronics, Epistar, Oculus VR, AU Optronics, X-Celeprint, JBD, VerLASE Technologies, and Aledia. The newness of the industry is encouraging investments from innovators such as ALLOS Semiconductors, Mikro Mesa Technologies, PlayNitride, Plessey Semiconductors, VueReal, and Ostendo Technologies.

According to the analysts at GMI, the smartwatches application segment will showcase growth of around 100% through 2024.