Micro-LED Market Worth $20.50 billion by 2025
May 10, 2018 | PRNewswireEstimated reading time: 3 minutes
According to the new market research report "Micro-LED Market by Application (Display (Smartwatch, NTE Devices (AR, VR), Smartphone, Television, HUD, Digital Signage, Laptop & Monitor) and Lighting (General, Automotive)), Display Panel Size, Vertical, and Geography - Global Forecast to 2025", published by MarketsandMarkets, the market is estimated to grow from $0.60 Billion in 2019 to $20.50 Billion by 2025, at a CAGR of 80.1% between 2019 and 2025. Increasing demand for brighter and more power-efficient display panels for smart watches, mobile devices, and NTE (AR/VR) devices is a major factor for the growth of the market. The rising interest of electronic giants Apple, Samsung, and Sony and interest shown by input/component suppliers in the supply chain also contribute to the market growth.
Micro-LED market for NTE devices to grow at highest CAGR during forecast period
Considering the current manufacturing capabilities, prototype development, and the involvement of leading players, micro-LED-based smartwatches and NTE devices may enter the commercial phase in 2019. The micro-LED market for NTE devices is expected to grow at the highest CAGR between 2019 and 2025. The luminosity (brightness) and resolution of micro-LED technology would be the key driving force for the adoption of the technology in NTE devices. AR devices require high resolution and brightness to match the real-world visibility. The fast response time of micro-LED displays is also suited for AR applications. Micro-LED display-based VR solutions can be implemented for diverse end uses, such as entertainment, gaming, training, and research. Smartphones and tablets are high-volume applications, and once commercialized, the corresponding market share will rise to dominate the overall micro-LED display market.
Small and medium-sized display panels to account for largest market share by 2025
Small and medium-sized display panels are expected to dominate the micro-LED display market by 2025 in terms of share, while the market for microdisplays is expected to witness the highest growth during the forecast period. Small and medium-sized display panels will be consumed in applications such as smartphones, tablets, laptops, and monitors.
APAC to hold major share of micro-LED market by 2025
APAC is expected to dominate the micro-LED display market during the forecast period with the presence of leading brand product manufacturers, LED foundries, and display panel manufacturers in the region. Samsung, LG, Sony, Sharp, Panasonic, and several others will account for major demand for micro-LED display panels by 2025. The recent technological advancements in micro-LED have led to increased interest from large APAC-based display panel manufacturers such as Samsung Electronics (South Korea), LG Display (South Korea), AU Optronics (Taiwan), and BOE Technology (China). Demand for premium display devices may also increase in APAC during the forecast period, which would boost the growth of the micro-LED display market.
Major companies operating in this market are Apple (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others. Some of the key innovators in the micro-LED market include Mikro Mesa Technology (Taiwan), VueReal (Canada), Uniqarta (US), ALLOS Semiconductors (Germany), Plessey Semiconductors (UK), PlayNitride (Taiwan), and Ostendo Technologies (US). Some other prominent players in the micro-LED market include Lumens (South Korea), Lumiode (US), Rohinni (US), Cooledge Lighting (Canada), and Nichia (Japan).
Some of the prominent research institutes undertaking research in the micro-LED market are Industrial Technology Research Institute (ITRI) (Taiwan), Changchun Institute (China), III-V Lab (France), CEA Leti (France), Hong Kong University of Science and Technology (Hong Kong), and Fraunhofer-Gesellschaft (Germany). Some of the input suppliers developing related materials and components in micro-LED market include Jasper Display (Taiwan), Crystalwise Technology (Taiwan), Unimicron (Taiwan), Luminit (US), Macroblock (Taiwan), and Max Technologies (Taiwan).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Suggested Items
Keynote Preview: Reshaping our Engagement With the World
03/28/2024 | Shawn DuBravac, IPCThe widespread integration of AI across various sectors is broadening its impact, from revolutionizing healthcare with Smart solutions to transforming homes into intuitive spaces, highlighting its crucial role in boosting efficiency and addressing complex challenges. In healthcare, we're witnessing a trend toward personalized care with AI-driven devices like intelligent pillows to mitigate snoring, sophisticated sleep monitors, and innovative patient monitoring systems.
Indium Corporation to Present, Exhibit at EPP InnovationsFORUM
03/28/2024 | Indium CorporationIndium Corporation is set to present and exhibit at EPP InnovationsFORUM, one of Europe’s premier single-day electronics manufacturing forums, on April 17 in Leinfelden-Echterdingen, Germany. Topic areas for 2024 will include AI, automation, sustainability, and quality.
Accenture Invests in Sanctuary AI to Bring AI-Powered, Humanoid Robotics to Work Alongside Humans
03/27/2024 | BUSINESS WIREAccenture has made a strategic investment, through Accenture Ventures, in Sanctuary AI, a developer of humanoid general-purpose robots that are powered by AI and can perform a wide variety of work tasks quickly, safely and effectively.
AT&S Well Prepared to Benefit from AI Boom
03/26/2024 | AT&SThe rapid progress in the development of artificial intelligence promises to revolutionize all areas of daily life in the coming years. In order to operate such AI systems, an enormous amount of computing power is required, which is provided by a vast network of data centres.
The IMAPS Show: A Conversation with John Andresakis
03/26/2024 | Marcy LaRont, PCB007 MagazineOn the last day of the IMAPS Device Packaging Conference, Marcy LaRont sat down with industry veteran John Andresakis of Quantic Ohmega, who attended the conference this week. Not his first time at this event, he talked about the conference, advanced technology, and trying to get the word out about the advanced packaging substrates solution Quantic is offering.