Stratview Research has launched a new report, titled Micro LED Market, By Application (Display, Lighting), By End Use (Consumer Electronics, Automotive, Aerospace and Defense, Others), and Region
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, The Micro LED Market is estimated to grow from USD 520.4 million in 2020 to USD 14,168.6 million by 2026 at a healthy CAGR of 75.3% during the forecast period.
Market Segments’ Analysis
Based on end-use, the micro-LED market has been classified into consumer electronics, automotive, aerospace and defense, and others. The consumer electronics segment accounted for the largest market share in 2020. This is mainly attributed to the introduction of a large number of start-ups, with strong R&D investments as well growing sales of consumer electronics among millennials.
By region, the North American Micro LED market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The Micro LED market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the micro-LED. Also, increasing consumer spending as well as expanding the advertising sector further boosts the regional market growth.
The Asia-Pacific Micro LED market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to the growing interest of major consumer electronic giants in APAC in adopting micro-LED technology. For instance, Samsung commercialized a few products into the digital signage vertical. Samsung’s “The Wall” is one of the key products in the micro-LED digital signage vertical.
The following are the key players in the Micro LED market
- Semiconductor Wafer Inc (Taiwan)
- Innolux Corporation (Taiwan)
- Sony Corporation (Japan)
- LG Display Co Ltd. (South Korea)
- Aledia SA (France)
- Epistar Corporation (Taiwan)
- Optovate Limited (UK)
- Rohinni LLC (US)
- Samsung Electronics Co. Ltd. (South Korea)
- JBD Inc. (US)
- Plessey Semiconductors Limited (UK)
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Micro LED market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Micro LED market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: https://www.stratviewresearch.com/2453/Micro-LED-Market.html
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