HOME Top Market Reports Micro-LED Market by Offering (Display Panel and Lighting Device), Application (Smartwatch, NTE Device, Smartphone & Tablet, Laptop & PC Monitor, TV, HUD, Digital Signage Display, Lighting), Vertical, aqnd Geography - Global Forecast to 2025

Micro-LED Market by Offering (Display Panel and Lighting Device), Application (Smartwatch, NTE Device, Smartphone & Tablet, Laptop & PC Monitor, TV, HUD, Digital Signage Display, Lighting), Vertical, aqnd Geography - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: April 2017
Report Code: SE 5168

 

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The micro-LED market is estimated to be USD 254.1 Million in 2017 and is likely to reach USD 19,921.3 Million by 2025, at CAGR of 54.7% between 2019 and 2025. The base year considered for this study is 2016; however, only a few micro-LED based products are commercialized in 2017, namely fine-pixel based digital signage displays (video wall), the market size is estimated for 2017 onwards. Major applications such as smartwatches, NTE devices, and smartphones are expected to be commercialized 2019 onwards owing to which the forecast period for the report is considered to be 2019–2025.

Objectives of the study:

  • To define, describe, and forecast the micro-LED market segmented on  the basis of offering, vertical, application, and four main regions (along with countries), namely North America, Europe, Asia-Pacific, and Rest of the World
  • To identify and analyze the major factors influencing the growth of the micro-LED market (drivers, restraints, opportunities, and challenges)
  • To analyze the key trends related to offering and application that are likely to shape and influence the micro-LED market
  • Analyze strategic developments such as joint ventures, mergers and acquisitions, prototype developments, and research and development in the micro-LED market
  • To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, along with detailing the competitive landscape for the market leaders

Research Methodology:

The research methodology includes the use of primary and secondary data. Both top-down and bottom-up approaches have been used to estimate and validate the size of the market as well as the other dependent submarkets. Key players in the market have been identified through secondary research. Secondary sources include references such as annual reports, company press releases, Factiva, and investor presentations of companies; white papers, consumer electronics exhibitions, certified publications (such as IEEE, Science Direct, and articles from recognized authors); websites (such as Consumer Technology Association (CES), CS International Conference, SEMI, International Signs & LED Exhibition, Computex, Display Taiwan, OLED-Info, Integrated Systems Europe, qled-info, FlexTech Alliance, Touch Taiwan); directories; and databases. All the percentage shares and breakdowns have been determined by using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The breakdown of the profiles of the primaries has been depicted in the figure below:

Micro-LED Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of micro-LED market involves three important player types: micro-LED manufacturers, TFT backplane manufacturers, and chip transfer technology developers. Other players such as raw material providers and brand customers manufacturing the end products are also considered in the value chain. LED markers include Epistar Corp. (Taiwan), Nichia Corp. (Japan), Osram Licht AG (Germany), Cree Inc. (U.S.), Genesis Photonics Inc. (Taiwan), Soraa (U.S.), Lumileds Holding B.V. (Netherlands), and others. TFT panel suppliers include AU Optronics Corp. (Taiwan) and BOE Technology Group Co., Ltd., (China), among many others. OEMs include Apple Inc. (U.S.), Sony Crop. (Japan), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Co., Ltd. (South Korea), and others. Wafer and sapphire glass suppliers include Crystalwise Technology Inc. (Taiwan), Monocrystal (Russia), Namiki Precision Jewel Co., Ltd. (Japan), SUMCO Corporation (Japan), Shin-Etsu Chemical Co., Ltd. (Japan), Okmetic (Finland), and others. Manufacturing equipment suppliers include Taiyo Nippon Sanso Corporation (Japan), Veeco Instruments, Inc. (U.S.), Aixtron SE (Germany), Daitron Co., Ltd. (Japan), and SPTS Technologies (U.K.), among many others.

Leading micro-LED technology developers in the market are Apple, Inc. (U.S.), Sony Corp. (Japan), and Oculus VR (U.S.). The other leading players in the micro-LED market include VerLASE Technologies LLC (U.S.), X-Celeprint Ltd. (Ireland), Ostendo Technologies Inc. (U.S.), Cooledge Lighting Inc. (Canada), Aledia (France), GLO AB (Sweden), Rohinni LLC (U.S.), and Epistar Corp. (Taiwan) among others.

Key Target Audience:

  • LED supply chain
    • LED manufacturers
    • Sapphire makers
    • MOCVD suppliers
    • Epi-houses
  • Display panel manufacturers
  • Brand customers/OEMs/ODMs
  • OSAT and foundries
  • Display-related service providers
  • Display-related associations, organizations, forums, and alliances
  • Government bodies such as regulating authorities and policy makers
  • Venture capitalists, financial and strategic investors, and start-ups
  • Semiconductor component suppliers
  • Display panel and device distributors and sales firms
  • Display and lighting device end users
  • Research institutes, organizations, and consulting companies

“The study answers several questions for the target audience; this primarily includes the market segments to focus on over the next two to eight years for prioritizing efforts and investments.”

Report Scope:

In this report, the market has been segmented as follows:

Micro-LED Market, by Offering:

  • Display Panels
    • Microdisplay
    • Small- and Medium-Sized Display
    • Large-Scale Display
  • Lighting Devices

Micro-LED Market, by Application:

  • Display
    • Near-to-Eye (NTE) Device
    • Smartwatch
    • Smartphone and Tablet
    • PC Monitor and Laptop
    • TV
    • Heads-Up Display (HUD) 
    • Digital Signage Display
  • Lighting
    • Automotive Lighting
    • General Lighting

Micro-LED Display Market, by Vertical:

  • Consumer Electronics
  • Automotive
  • Retail and BFSI
  • Government and Defense
  • Sports and Entertainment
  • Education

Micro-LED Lighting Market, by Vertical:

  • Residential and Commercial
  • Automotive

Micro-LED Market, by Geography:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Company Profiles: Detailed analysis of the major companies in the market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Company Information

Detailed analysis and profiling of additional market players (up to five)

  • Industry-specific Data

Detailed analysis of specific industries and respective use cases or applications of micro-LED technology

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Micro-LED Market: Scope
           2.1.1 Research Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
                    2.2.1.1 Approach for Capturing Market Share By Bottom-Up Analysis
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing the Market Share By Top-Down Analysis
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Opportunities for the Growth of the Micro-LED Market
    4.2 North America to Capture the Largest Share of the Micro-LED Display Market By 2025
    4.3 Consumer Electronics to Hold the Largest Size of the Micro-LED Display Market Between 2019 and 2025
    4.4 Micro-LED Market in APAC Expected to Grow at the Highest Rate During the Forecast Period
    4.5 Display Devices to Hold A Larger Size of the Micro-LED Market

5 Market Overview (Page No. - 35)
    5.1 Market Dynamics
           5.1.1 Drivers
                    5.1.1.1 Increasing Demand for Brighter and More Power Efficient Display Panels for Several Applications
                    5.1.1.2 Increase in Applications as Well as Adoption Rate of Near-To-Eye (NTE) Devices
                    5.1.1.3 Increasing Interests From Electronics Giants—Apple and Sony
           5.1.2 Restraints
                    5.1.2.1 Rising Demand for Oled Displays
                    5.1.2.2 High Growth of the Flexible Display Market and Adoption of Folded Displays for Smartphones in the Near Future
                    5.1.2.3 Saturated Shipment of TV and PC Monitors in 2015 and 2016
           5.1.3 Opportunities
                    5.1.3.1 Growing Smart Wearable Devices Market
                    5.1.3.2 Manufacturing of LEDs on Silicon Wafers
                    5.1.3.3 Penetration of Micro-LEDs Technology-Based Products in the Display Panel Market to A Large Extent
           5.1.4 Challenges
                    5.1.4.1 Maintaining the Balance in Tradeoff Between Pixel Volume and Pixel Density
                    5.1.4.2 Necessity to Adapt Different Manufacturing Processes as Well as Make the Equipment Compatible and Associated Costs
                    5.1.4.3 Improve Mass Transfer of Micro-LEDs With High Yield

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Patent Analysis

7 Micro-LED Market, By Offering (Page No. - 48)
    7.1 Introduction
    7.2 Micro-LED Display Market
           7.2.1 Microdisplay
           7.2.2 Small- and Medium-Sized Display
           7.2.3 Large-Scale Display
    7.3 Micro-LED Lighting Market

8 Micro-LED Market, By Application (Page No. - 55)
    8.1 Introduction
    8.2 Display
           8.2.1 Near-To-Eye (NTE) Device
           8.2.2 Smartwatch
           8.2.3 Smartphone and Tablet
           8.2.4 TV
           8.2.5 PC Monitor and Laptop
           8.2.6 Heads-Up Display (HUD)
           8.2.7 Digital Signage Display
    8.3 Lighting Application
           8.3.1 Automotive Lighting
           8.3.2 General Lighting

9 Micro-LED Market, By Vertical (Page No. - 79)
    9.1 Introduction
    9.2 Verticals in the Display Market
           9.2.1 Consumer Electronics
           9.2.2 Automotive
           9.2.3 Retail and BFSI
           9.2.4 Government and Defense
           9.2.5 Sports and Entertainment
           9.2.6 Education
    9.3 Verticals in the Lighting Market
           9.3.1 Residential and Commercial
           9.3.2 Automotive

10 Micro-LED Market, By Geography (Page No. - 91)
     10.1 Introduction
     10.2 North America
             10.2.1 Us
             10.2.2 Canada
             10.2.3 Mexico
     10.3 Europe
             10.3.1 Uk
             10.3.2 Germany
             10.3.3 France
             10.3.4 Italy
             10.3.5 Spain
             10.3.6 Rest of Europe
     10.4 Asia Pacific (APAC)
             10.4.1 China
             10.4.2 Japan
             10.4.3 South Korea
             10.4.4 India
             10.4.5 Australia
             10.4.6 Rest of APAC
     10.5 Rest of the World (RoW)
             10.5.1 Middle East
             10.5.2 Africa
             10.5.3 South America

11 Competitive Landscape (Page No. - 114)
     11.1 Introduction
     11.2 Market Ranking Analysis: Micro-LED Market, 2017
     11.3 Vendor Dive Overview
             11.3.1 Vanguards
             11.3.2 Dynamic
             11.3.3 Innovator
             11.3.4 Emerging
     11.4 Business Strategies Adopted By Major Players in the Micro-LED Market (25 Companies)
     11.5 Analysis of the Product (Technology) Offerings of Major Players in Micro-LED Market (25 Companies)

*Top 25 Players Analysed in This Study are - Apple Inc. (Luxvue), Oculus VR (Infiniled), Sony Corp., Aledia, X-Celeprint Ltd., GLO AB, Ostendo Technologies, Inc., Verlase Technologies LLC, Rohinni LLC, Epistar Corporation, Cooledge Lighting Inc., CEA/Leti, ALLOS/Azzurro Semiconductors GmbH, Mikro Mesa Technology Co., Ltd., mLED Ltd., Insiava (Pty) Ltd., Lumiode, Inc., Exalos Ag, Deepsky Corp., ITRI (Taiwan), III-N Technology, Vuereal Inc., Vuzix Corp., Boe Technology Group, Emagin Corporation

12 Company Profiles (Page No. - 121)
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View)*
     12.1 Introduction
     12.2 Apple Inc. (Luxvue)
     12.3 Oculus VR (Infiniled Ltd.)
     12.4 Sony Corp.
     12.5 Aledia
     12.6 X-Celeprint Ltd.
     12.7 GLO AB
     12.8 Ostendo Technologies, Inc.
     12.9 Verlase Technologies LLC
     12.10 Rohinni LLC
     12.11 Epistar Corporation
     12.12 Cooledge Lighting Inc.
     12.13 Key Innovators
             12.13.1 Mikro Mesa Technology Co., Ltd
             12.13.2 CEA/Leti
             12.13.3 III-V Lab
             12.13.4 Hong Kong University of Science and Technology (HKUST)
             12.13.5 Industrial Technology Research Institute (ITRI)
             12.13.6 Lumiode, Inc.
             12.13.7 mLED Ltd.
             12.13.8 ALLOS Semiconductors GmbH

*Details on Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 157)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Related Reports
     13.5 Author Details


List of Tables (32 Tables)

Table 1 List of Major Secondary Sources
Table 2 Micro-LED Market, By Offering, 2017–2025 (USD Million)
Table 3 Micro-LED Display Market, By Display Panel Size, 2017–2025 (USD Million)
Table 4 Micro-LED Display Market, By Application, 2017–2025 (Million Units)
Table 5 Micro-LED Display Market, By Application, 2017–2025 (USD Million)
Table 6 Comparison of Properties of Different Microdisplay Technologies
Table 7 Micro-LED Display Market for NTE Devices, By Region, 2019–2025 (USD Million)
Table 8 Micro-LED Display Market for Smartwatches, By Region, 2019–2025 (USD Million)
Table 9 Micro-LED Display Market for Smartphones, By Region, 2021–2025 (USD Million)
Table 10 Micro-LED Display Market for Tablets, By Region, 2017–2025 (USD Million)
Table 11 Micro-LED Display Market for Televisions, By Region, 2023–2025 (USD Million)
Table 12 Micro-LED Display Market for PC Monitors, By Region, 2023–2025 (USD Million)
Table 13 Micro-LED Display Market for Laptops, By Region, 2022–2025 (USD Million)
Table 14 Micro-LED Display Market for Heads-Up Display (HUD), By Region, 2021–2025 (USD Million)
Table 15 Micro-LED Display Market for Digital Signage Displays, By Region, 2017–2025 (USD Million)
Table 16 Micro-LED Lighting Market, By Application, 2017–2025 (USD Million)
Table 17 Micro-LED Lighting Market for Automotive Lighting Application, By Region, 2019–2025 (USD Million)
Table 18 Micro-LED Lighting Market for General Lighting Application, By Region, 2017–2025 (USD Million)
Table 19 Micro-LED Display Market, By Vertical, 2017–2025 (USD Million)
Table 20 Micro-LED Lighting Market, By Vertical, 2017–2025 (USD Million)
Table 21 Micro-LED Market, By Region, 2017–2025 (USD Million)
Table 22 Micro-LED Display Market, By Region, 2017–2025 (USD Million)
Table 23 Micro-LED Lighting Market, By Region, 2017–2025 (USD Million)
Table 24 Micro-LED Market in North America, By Application, 2017–2025 (USD Million)
Table 25 Micro-LED Market in North America, By Country, 2017–2025 (USD Million)
Table 26 Micro-LED Market in Europe, By Application, 2017–2025 (USD Million)
Table 27 Micro-LED Market in Europe, By Country, 2017–2025 (USD Million)
Table 28 Micro-LED Market in APAC, By Application, 2017–2025 (USD Million)
Table 29 Micro-LED Market in APAC, By Country, 2017–2025 (USD Million)
Table 30 Micro-LED Market in RoW, By Application, 2017–2025 (USD Million)
Table 31 Micro-LED Market in RoW, By Region, 2017–2025 (USD Million)
Table 32 Key Player Market Ranking, 2017


List of Figures (93 Figures)

Figure 1 Market Segmentation
Figure 2 Market, By Geography
Figure 3 Micro-LED Market: Process Flow of Market Size Estimation
Figure 4 Micro-LED Market: Research Design
Figure 5 Data Triangulation
Figure 6 Assumptions of the Research Study
Figure 7 Micro-LED Market Size, 2017–2025 (USD Billion)
Figure 8 APAC Market Expected to Grow at the Highest Rate Between 2019 and 2025
Figure 9 Consumer Electronics Vertical to Hold the Largest Size of the Micro-LED Display Market During the Forecast Period
Figure 10 Micro-LED Market Expected to Grow at Significant Rate Between 2019 and 2025
Figure 11 Smartphones to Hold the Largest Share of the Micro-LED Display Market Between 2019 and 2025
Figure 12 Micro-LED Display Market for Smartphones Expected to Grow at the Highest Rate Between 2019 and 2025
Figure 13 Micro-LED Display Market for Consumer Electronics Expected to Grow at the Highest Rate During the Forecast Period
Figure 14 South Korean Micro-LED Market to Grow at the Highest CAGR Between 2019 and 2025
Figure 15 Display Devices to Dominate the Micro-LED Market Between 2019 and 2025
Figure 16 Micro-LED Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Flexible Display Panel Market, 2014–2022 (Million Units)
Figure 18 TV Market, 2014–2022 (Million Units)
Figure 19 Smart Wearables Market, 2015, 2016, and 2020 (Million Units)
Figure 20 Display Panel Market, 2014 to 2022 (USD Billion)
Figure 21 Micro-LED Market: Value Chain Analysis
Figure 22 Micro-LED Market: Patent Analysis
Figure 23 Micro-LED Market, By Offering
Figure 24 Micro-LED Display Market, By Display Panel Size
Figure 25 Micro-LED Display Market for Microdisplays, 2019–2025 (USD Million)
Figure 26 Micro-LED Display Market for Small- and Medium-Sized Displays, 2019–2025 (USD Million)
Figure 27 Micro-LED Display Market for Large-Scale Displays, 2017–2025 (USD Million)
Figure 28 Micro-LED Lighting Market, 2017–2025 (USD Million)
Figure 29 Micro-LED Display Market, By Application
Figure 30 Micro-LED Display Panel Market, By Application, 2017–2025 (Million Units)
Figure 31 Micro-LED Display Market for Near-To-Eye (NTE) Devices, 2019–2025 (USD Million)
Figure 32 Smart Wearables Market, 2014–2022 (Million Units)
Figure 33 Micro-LED Display Market for Smartwatches, 2019–2025 (USD Million)
Figure 34 Smartphone and Tablet Market, 2014–2022 (Million Units)
Figure 35 Micro-LED Display Market for Smartphones, 2021–2025 (USD Million)
Figure 36 Micro-LED Display Market for Tablets, 2021–2025 (USD Million)
Figure 37 TV Market, 2014–2022 (Million Units)
Figure 38 Micro-LED Display Market for Televisions, 2023–2025 (USD Million)
Figure 39 PC Monitor and Laptop Market, 2014–2022 (Million Units)
Figure 40 Micro-LED Display Market for PC Monitors, 2023–2025 (USD Million)
Figure 41 Micro-LED Display Market for Laptops, 2022–2025 (USD Million)
Figure 42 Micro-LED Display Market for Heads-Up Display (HUD), 2021–2025 (USD Million)
Figure 43 Micro-LED Display Market for Digital Signage Displays, 2017–2025 (USD Million)
Figure 44 Micro-LED Lighting Market, By Application
Figure 45 Micro-LED Display Market, By Vertical
Figure 46 Micro-LED Display Market for Consumer Electronics, 2019–2025 (USD Million)
Figure 47 Micro-LED Display Market for Automotive, 2021–2025 (USD Million)
Figure 48 Micro-LED Display Market for Retail and BFSI, 2017–2025 (USD Million)
Figure 49 Micro-LED Display Market for Government and Defense, 2017–2025 (USD Million)
Figure 50 Micro-LED Display Market for Sports and Entertainment, 2017–2025 (USD Million)
Figure 51 Micro-LED Display Market for Education, 2017–2025 (USD Million)
Figure 52 Micro-LED Lighting Market, By Vertical
Figure 53 Micro-LED Lighting Market for Residential and Commercial, 2017–2025 (USD Million)
Figure 54 Micro-LED Lighting Market for Automotive, 2017–2025 (USD Million)
Figure 55 Micro-LED Market Segmentation , By Geography
Figure 56 Micro-LED Market, By Region, 2019 vs 2025 (USD Million)
Figure 57 APAC Expected to Be the Fastest-Growing Region in Micro-LED Market During 2019–2025
Figure 58 Geographic Snapshot of the Micro-LED Market: Rapidly Growing Markets Emerging as New Hotspots
Figure 59 Micro-LED Market in North America, By Country, 2019 vs 2025 (USD Million)
Figure 60 Us to Hold A Major Share of the North American Micro-LED Market Between 2017 and 2025
Figure 61 Micro-LED Market in Europe, By Country, 2019 vs 2025 (USD Million)
Figure 62 UK to Hold A Major Share of the European Micro-LED Market Between 2017 and 2025
Figure 63 Micro-LED Market in APAC, By Country, 2019 vs 2025 (USD Million)
Figure 64 China to Hold A Major Share of the APAC Micro-LED Market Between 2017 and 2025
Figure 65 Micro-LED Market in RoW, By Region, 2019 vs 2025 (USD Million)
Figure 66 Companies Adopted M&A and New Product, Technology, and Prototype Development as the Key Growth Strategies Between 2014 and 2017
Figure 67 Battle for Market Share: M&A and New Product, Technology, and Prototype Developments Were the Key Strategies Adopted During 2014–2017
Figure 68 Dive Chart
Figure 69 Apple Inc.: Company Snapshot
Figure 70 Apple Inc. (Luxvue): Product (Technology) Offerings
Figure 71 Apple Inc. (Luxvue): Business Strategies
Figure 72 Oculus VR (Infiniled Ltd.): Product (Technology) Offerings
Figure 73 Oculus VR (Infiniled Ltd.): Business Strategies
Figure 74 Sony Corp.: Company Snapshot
Figure 75 Sony Corp.: Product (Technology) Offerings
Figure 76 Sony Corp.: Business Strategies
Figure 77 Aledia: Product (Technology) Offerings
Figure 78 Aledia: Business Strategies
Figure 79 X-Celeprint Ltd.: Product (Technology) Offerings
Figure 80 X-Celeprint Ltd.: Business Strategies
Figure 81 GLO AB: Product (Technology) Offerings
Figure 82 GLO AB: Business Strategies
Figure 83 Ostendo Technologies, Inc.: Product (Technology) Offerings
Figure 84 Ostendo Technologies, Inc.: Business Strategies
Figure 85 Verlase Technologies LLC: Product (Technology) Offerings
Figure 86 Verlase Technologies LLC: Business Strategies
Figure 87 Rohinni LLC: Product (Technology) Offerings
Figure 88 Rohinni LLC: Business Strategies
Figure 89 Epistar Corp.: Company Snapshot
Figure 90 Epistar Corporation: Product (Technology) Offerings
Figure 91 Epistar Corporation: Business Strategies
Figure 92 Cooledge Lighting Inc.: Product (Technology) Offerings
Figure 93 Cooledge Lighting Inc.: Business Strategies

The micro-LED market is estimated to be USD 254.1 Million in 2017 and is likely to reach USD 19,921.3 Million by 2025, at CAGR of 54.7% between 2019 and 2025. Increasing demand for brighter and more power efficient display panels for several applications is the main driver of the market. The market is also driven by factors such as increase in applications, high adoption rate of near-to-eye (NTE) devices, and increasing interests from electronics giants Apple and Sony. Devices based on micro-LED technology are expected to be used in various sectors such as consumer electronics, retail, automotive, education, and others in the near future.

The report covers the market in terms of offering, vertical, application, and geography. The cconsumer electronics vertical is expected lead the micro-LED market in terms of market share in 2019, and same trend is likely to continue till 2025. The high acceptance rate of newer display technology in consumer electronics devices (such as smartphones, tablets, TVs, PC monitors, laptops, and smart wearables), which are always in high demand, is the main reason for the largest market share of consumer electronics. The retail industry is also expected to capture a significant share in the micro-LED display market.

North America is expected to hold the largest share of the market between 2019 and 2025 owing to high adoption rate of newer display and lighting technology, especially in the US, which is a major contributor to the growth of the market in the region. APAC is expected to grow at the highest rate between 2019 and 2025 due to the presence of major panel, LED, and brand product manufactures in this region. Due to this and the large consumer population in the region, companies usually launch their new display and lighting products in APAC.

Micro-LED Market

Rising demand for OLED displays, high growth of the flexible display market and adoption of folded displays for smartphones in the near future, and saturated shipment of TV and PC monitors in 2015 and 2016 are the major restraints for the growth of the micro-LED market. Maintaining the balance in tradeoff between pixel volume and pixel density, necessity to adapt different manufacturing processes as well as make the equipment compatible and associated costs, and improve mass transfer of micro-LEDs with high yield are the key challenges faced by micro-LED technology developers. This report comprises drivers, restraints, opportunities, and challenges pertaining to the micro-LED market; analysis of the current market scenario; and market size forecasts till 2025.

Major companies operating in this market are Apple, Inc. (U.S.), Sony Corp. (Japan), and Oculus VR (U.S.). The other leading players in the micro-LED market include VerLASE Technologies LLC (U.S.), X-Celeprint Ltd. (Ireland), Ostendo Technologies Inc. (U.S.), Cooledge Lighting Inc. (Canada), Aledia (France), GLO AB (Sweden), Rohinni LLC (U.S.), and Epistar Corp. (Taiwan), among many others.

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