March 28, 2020

Micro LED Market 2027 | Key Players are Sony Corp, Apple, Inc., Ostendo Technologies, Oculus VR, LG Electronics, among others.

According to a new market research report published by Credence Research “Micro LED Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, The global market for micro LED was valued at US$ 0.58 billion in 2018 and is set to grow with a CAGR of 81.9 per cent during the forecast period 2019 to 2027.

Market Insights

The Micro LED market, which is in the initial phase, is witnessing significant technological advances in the entire industry. Enhancements in the LED industry involve the launch of enhanced MicroLED panels that are remarkably efficient and thin to deliver an excellent viewing angle that allows brighter images to be delivered with less power consumption. MicroLED delivers fast response time in a compact format with a focus on improving consumer experience. Due to the high uniformity in wavelength for fine pixel display, demand traction was observed on the MicroLED market, with smartphones holding the largest share. Smart watches, monitors, laptops and AR / VR are leading technology-based applications that improve image clarity and reduce power consumption.

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Micro LED have been gaining traction late, although LED & OLED have been in demand for a long time, and visual tools already enjoy strong industry and consumer acceptance. A close study of recent product launches and developments of key industry participants active in the MicroLED market shows that VR and MR will continue to dominate the market in applications such as near-eye camera applications throughout the forecast period. Non-commercial applications such as smartphones, home theaters and laptops are also projected to see an increase in demand, with a significant increase in the second half of the MicroLED market forecast. This increase is mainly due to a rapid improvement in consumer acceptance and a projected drop in product prices, which is primarily the MicroLED display price. There are several factors vis. Improving consumer spending on personal entertainment is seen as crucial in influencing market growth trends for commercial and non-commercial applications.

Due to the presence of major manufacturers of micro-LED displays, North America held a significant share of the global market for micro-LED displays in 2018. This regional market is expected to dominate the U.S. as the corporate headquarters of a number of well-known market giants such as Oculus VR, Apple, Lumiode, VerLASE Technologies and Uniqarta, among others. In addition, the region anticipates a number of market-related business activities that will make a significant contribution to the overall market demand. The increasing use of micro-LED displays in automotive applications drives the market for micro-LED displays in European countries. For a number of applications, such as dashboards, rearview mirrors, car entertainment systems and HUDs, demand for micro-LEDs is experiencing rapid growth, particularly in the automotive industry. In addition, the automotive industry plays a vital role in the growth of Europe’s GDP. In 2018, the automotive sector accounted for almost 5% of Europe’s overall GDP. Many automotive manufacturers are involved in research and development activities in order to strengthen their overall competitiveness.

Some of the prominent players in the MicroLED market and profiled in the study include Sony Corp, Apple, Inc., Ostendo Technologies, Oculus VR,  JBD Inc., Glo AB  and LG Electronics among others.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Application Segment

 • AR

 • VR

 • Smartphone

 • Television

 • HUD

 • Monitor and Laptop

 • Digital Signage

By Lighting Segment

 • General

 • Automotive

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

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