The micro LED market is anticipated to grow at a CAGR of 32.5% during the forecast period. This market growth is attributed to the extensive investment in the field of micro led technology by tech giants such as Samsung and Apple. The development of expanded micro-LED panels has delivered an excellent viewing angle that provides brighter pictures and delivered with less power consumption. For enhancement of consumer experience, micro LED provides quick response time. Further, the market has significant growth opportunities owing to its high wavelength uniformity for fine pixel pitch display along with the growing application in consumer electronics such as smartphones, smartwatches, monitors, virtual reality/ augmented reality and laptops. The consumer electronics manufacturers are adopting micro LED displays to expand picture clarity and reduce power consumption.
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The global micro-LED market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is expected to have the largest share in the market due to the high penetration of advanced technology owing to which the region is considered as the biggest contributor toward the adoption of micro LED displays. Along with it, rising penetration of smartwatches is augmented the adoption of micro LED market. Different companies include LG electronics are planning to introduce a smartwatch with LG V40 ThinQ smartphone in the US. Europe has a significant market growth during the forecast period due to the increasing automotive application of micro LEDs and demand is trending in the automotive industry for different applications includes in-car entertainment systems, HUDs, dashboards, and rear-view windows.
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- Market Coverage
- Market number available for – 2024-2030
- Base year- 2023
- Forecast period- 2024-2030
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Micro LED Market Segmentation
By Application
- Display
o Television
o Smartwatches
o Smartphone and Tablet
o Monitor and Laptop
o Near to Eye Devices
o Head-up Display
o Digital Signage
- Lighting
o General lightning
o Automotive Lighting
By End-User
- Consumer Electronics
- Automotive
- Aerospace & Defense
- Others (Retail)
Global Micro LED Market – Segment by Region
North America
- US
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East Africa
The Report Covers
- Market value data analysis of 2018 and forecast to 2025.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global micro LED market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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