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Micro-LED Market by Application, Smartphone, Television, HUD, Digital Signage, Laptop and Monitor, Lighting, Display Panel Size, Vertical And Region - Global Forecast to 2026

Micro-LED Market by Application, Smartphone, Television, HUD, Digital Signage, Laptop and Monitor, Lighting, Display Panel Size, Vertical And Region - Global Forecast to 2026

  • May 2020
  • 163 pages
  • ID: 4837044
  • Format: PDF
  • MarketsandMarkets


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Growing demand for brighter and more power-efficient display panels is driving growth of micro-LED market
The global micro-LED market size is estimated to grow from USD 409 million in 2020 to USD 18,835 million by 2026, at a CAGR of 89.3% between 2020 and 2026. The most significant factor driving the growth of this market is the growing demand for brighter and more power-efficient display panels for smartwatches, mobile devices, and AR/VR devices.

High penetration of micro-LED-based products in display panel market
The display panel market is huge, and many leading industry players are working on optimizing the existing display technologies such as LED, LCD, OLED, quantum dot LED, and e-paper.Samsung is pursuing quantum dot LED and OLED, while LG Display is focusing on OLED technology.

The market is dominated by Samsung, LG Display, AU Optronics, Innolux, and Japan Display. These players may enter into partnerships or collaborations, or even acquire one of the many startups that are focusing on developing micro-LED technology.

Micro-LED technology, when mature, is expected to penetrate different display applications. The huge display market offers numerous opportunities for the development of micro-LED technology, which is much brighter and low-power-consuming compared with the existing technologies, such as LCD and OLED.

Various new patents are being registered in micro-LED market
The micro-LED market is witnessing various changes and technological innovations in chip manufacturing, chip transfer, and many other areas. Micro-LED -based products are not yet commercialized, and players are focusing primarily on prototype development and technology protection.

As 0f 2019, more than 1500 patents have been filled by 125 companies.Some players have filed patents, while others have acquired intellectual property via license agreements, mergers, and acquisitions.

Leading players filing patents for micro-LED technology are Apple (LuxVue) (US) and Ostendo Technologies (US). Many R&D labs/institutes, such as CEA-Leti (France), Hong Kong University of Science and Technology (HKUST, Hong Kong), and the University of Illinois (US), have also filed patents related to micro-LED technology.

More than 50% of micro-LED-related patents belong to mass transfer, interconnect, pixel & display architecture, and driver circuits.Around 15% of patents belong to chip structure and chip manufacturing.

The remaining ones are related to epitaxy, color conversion, yield management, testing, etc.
In North America, micro-LED market in US is expected to grow at highest CAGR during forecast period“
The US is expected to be the major contributor to the micro-LED display market in North America because of its well-established economy and the presence of prominent smartphone, AR/VR, television, and smart wearable suppliers in the country.The rapid adoption of the latest display technologies, along with the growing number of applications, is the main reason attributed to the expected prominent share of North America in the micro-LED display market.

Many leading brands, such as HP, Dell, and Apple, are headquartered in the US. These factors are expected to contribute to North America playing a key role in the growth of the micro-LED display market.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with the key experts.

The breakup of the profiles of primary participants is as follows:
• By Company Type: Tier 1 – 25 %, Tier 2 – 15%, and Tier 3 – 60%
• By Designation: C-Level Executives – 55%, Directors – 35%, Others – 10%
• By Geography: North America – 30%, Europe – 45%, APAC – 25%

The global micro-LED market is dominated by Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony Corp. (Japan), Samsung Electronics Co., Ltd. (South Korea), X-Celeprint Ltd. (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies LLC (US), JBD Inc. (JB-Display) (China), Aledia (France), Uniqarta, Inc. (US), ALLOS Semiconductors GmbH (Germany), Plessey Semiconductors Ltd. (UK), PlayNitride Inc. (Taiwan), Mikro Mesa Technology Co., Ltd. (Taiwan), VueReal Inc. (Canada), Ostendo Technologies, Inc. (US), Sharp Corporation (eLux Inc.) (Japan), University of Sheffield (EpiPix Ltd.) (UK), Micledi (Belgium), Microluce (Taiwan), Tianma (China), and Visionox (China). Other prominent players in the market are Lumens Co., Ltd. (South Korea), Lumiode, Inc. (US), Rohinni LLC (US), Cooledge Lighting Inc. (Canada), Nichia Corp. (Japan), PRP Optoelectronics (Wiltshire), CSOT (China), and Konka (China).

Research Coverage
This report covers the micro-LED market segmented based on vertical, panel size, application, and geography. A detailed analysis of the key industry players has been undertaken to provide insights into their business, products, and services, and key strategies such as product launches, product developments, partnerships, contracts, agreements, mergers & acquisitions, collaborations, and expansions associated with the micro-LED market.

Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the micro-LED market based on vertical, panel size, application, and region have been conducted to provide an overall view of the micro-LED industry.
• The major drivers, restraints, opportunities, and challenges for the micro-LED market have been detailed in this report.

The report includes a detailed competitive landscape of the key players in the market and their ranking.

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