Micro-LED Display Market Other Key Strategies by Type & Geography Analysis & Forecast to 2023

Micro-LED display is an emerging technology consist of tiny LED devices having the potential to create highly efficient and bright pictures than OLEDs. It provides high wavelength uniformity that is suitable for fine pitch panels. These features of micro-LED are encouraging the manufacturers of handheld devices to increasingly implement this component in the devices. Thus, growing preference of consumers towards micro-LED display is boosting this market. Moreover, key players such as Apple Inc., Samsung, and Sony have demonstrated their rising interest in micro-LED display technology. Furthermore, it is expected that by the end of 2019, there would be high-end products entering the market and micro-LED has the potential to become the next generation display technology. For instance, LG Electronics is planning to bring a new series of micro-LED displays to the market that can be used in various electronic devices such as smartphones, laptops and tablets.

High penetration of micro-LED technology-based products in the display panel market is expected to create great opportunity in this market. Micro-LED-based smartwatches and near to eye (NTE) devices are expected to commercialize in coming years owing to the manufacturing capabilities and the involvement of leading players in this market. Moreover, the adoption rate of Micro-LED Displays Market in premium smartphones is expected to rapidly increase during the forecast period, which is expected to drive the growth of the micro-LED market in smartphones. The market is segmented on the basis of application, panel type, vertical and region. North America is dominating the market owing to the growing adoption of the latest display technologies in consumer electronics, retail, and education industries, especially in the US. Asia-Pacific is expected to be the fastest growing region due to increasing penetration of smartphones in this region.

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Key players

The prominent players in the micro-LED display market are Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), LG Electronics Inc. (South Korea) Sony Corporation (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others.

Regional Analysis

The global market for micro-LED display is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of micro-LED display market is done across North America, Europe, Asia-Pacific, and the rest of the world.

Asia-Pacific is expected to be the fastest growing region owing to the presence of major display panel and consumer-electronics manufacturers in this region, especially in the countries such as China, Japan and South Korea. Moreover, the increasing investments of multinational companies in developing their manufacturing facilities in the Asia-Pacific region driving the growth of this market. Also, high demand of smart electronic devices from countries like India is further fueling the growth of this market. North America followed by Europe is dominating the micro-LED display market. Increasing demand of micro-LED enabled wearables in the countries such US is fueling the growth of this market.

Segmentation

Micro-LED display market is segmented based on application, panel size, vertical and region.

Based on the application, the market is segmented into smartwatch, NTE devices, television, head-up display, smartphone and tablet, monitor and laptop and digital signage.

On the basis of panel size, the market is segmented into microdisplay, small- and medium-sized panel and large panel.

Based on vertical, the market is segmented into consumer electronics, entertainment & advertisement, automotive, aerospace & defense and others.

By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.

Competitive Analysis

The micro-LED display market has witnessed the trend of new product development across the world. Many key players have adopted new product development as their chief organic strategy to gain significant market share in the market. Product development accounted for a significant percentage of the total business growth strategy in the years 2016 and 2017. high of the total company developments were a part of partnership & collaboration whereas, merger & acquisition accounted for high of the total strategic developments adopted by the key players in the market.

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