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Micro LED Market Trends and Forecast

The future of the global micro LED market looks attractive with opportunities in the consumer electronics, automotive, advertisement, and aerospace & defense industries. The global micro LED market is expected to reach an estimated $25.0 billion by 2028 with a CAGR of 74.5% from 2023 to 2028. The major drivers for this market are growth in smartphones and wearable devices and increasing demand for brighter and better display solutions.
A total of 87 figures / charts and 87 tables are provided in this 183-page report to help in your business decisions. A sample figure with insights is shown below. 
Micro LED Market by Application, Panel Size, and End Use Industry

Micro LED Market by Segment

In this market, large panel is the largest by panel size, whereas consumer electronics is the largest market by end use industry. Growth in various segments of the micro LED market is given below:
Micro LED Market by Segments
The study includes trends and forecast for the global micro LED market by application, panel size, end use industry, and region as follows:

By End Use Industry [$M shipment analysis from 2017 to 2028]:

  • Consumer Electronics
  • Automotive
  • Advertisement
  • Aerospace and Defense
  • Others                       

By Panel Size [$M shipment analysis from 2017 to 2028]:

  • Micro-Display
  • Small Sized and Medium Sized Panel
  • Large Panel

By Application [$M shipment analysis from 2017 to 2028]:

  • Display
    • Near to Eye Devices
      • AR HMD
      • VR HMD
    • Smartphones & Tablets
    • Smartwatches
    • Televisions
    • Head-up display
    • Monitors and Laptops
    • Digital Signage
  • Lighting
    • General Lighting
    • Automotive Lighting

By Region [$M shipment analysis for 2017 to 2028]:

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • United Kingdom
    • Germany
    • Italy
  • Asia Pacific
    • Japan
    • China
    • India
  • The Rest of the World

List of Micro LED Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies micro LED companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the micro LED companies profiled in this report includes.

Micro LED Market Insight

  • Lucintel forecasts that display will remain the largest application and it is also expected to witness the highest growth over the forecast period as increasing demand for better display solutions.
  • Large panel will remain the largest segment by panel size and micro display segment is also expected to witness the highest growth over the forecast period due to increasing demand for smart phone and wearables devices.
  • Asia Pacific will remain the largest region due to increasing investment by electronics giants in global micro led market.  APAC is expected to witness the highest growth over the forecast period supported by increasing demand for consumer electronics devices such as smartwatches, smart devices, and AR/VR devices, smartphones, televisions, and laptops.

Features of Micro LED Market

  • Market Size Estimates: Micro LED market size estimation in terms of value ($M)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Market size by various segments, such as end use industry, application, panel size, and regions in terms of value.
  • Regional Analysis: Micro LED market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different end use industries, application, panel size, and regions for the micro LED market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the micro LED market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the micro LED market size?
Answer: The global micro LED market is expected to reach an estimated $25.0 billion by 2028.
Q2. What is the growth forecast for micro LED market?
Answer: The micro LED market is expected to grow at a CAGR of 74.5% from 2023 to 2038.  
Q3. What are the major drivers influencing the growth of the micro LED market?
Answer: The major drivers for this market are growth in smartphones and wearable devices and increasing demand for brighter and better display solutions.
Q4. What are the major applications or end use industries for micro LED?
Answer: Display will remain the largest application and it is also expected to witness the highest growth over the forecast period as increasing demand for better display solutions in smartphones, smartwatches, and AR/VR devices.
Q5. What are the emerging trends in micro LED market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include use of hyaluronic acid and retinols for anti-aging properties, micellar waters for water management, cannabis skincare as antioxidants, and probiotic skincare for delivering good bacteria to the skin.
Q6. Who are the key micro LED companies?
Answer: Some of the key micro LED companies are as follows:
  • Apple Inc
  • Samsung Electronics
  • Sony Corporation
  • Epistar Corporation
  • Lumens
  • Plessy Semiconductor
  • X-Celeprint
  • PlayNitride
  • VerLASE Technologies LLC
  • Plessey Semiconductor Ltd.
  • JBD Inc.
  • Ostendo Technologies, Inc.
  • MICLEDI
  • Microluce
Q7: In micro LED market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising, high-growth opportunities for the global micro LED market by micro LED end use industry (consumer electronics, automotive, advertisement, aerospace & defense, and others), Panel Size (micro-displays, small-sized & medium-sized, and large panels), Application (display and lighting) by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

For any questions related to micro LED market or related to micro LED market share, micro LED market analysis, and micro LED market size, write to Lucintel analysts at helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary

2. Micro LED Market Background and Classification
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends and Forecast
3.2: Global Micro LED Market Trends and Forecast
3.3: Global Micro LED Market by End Use Industry
3.3.1: Consumer Electronics
3.3.2: Automotive
3.3.3: Advertisement
3.3.4: Aerospace & Defense
3.3.5: Others
3.4: Global Micro LED Market by Panel Size
3.4.1: Micro Display
3.4.2: Small-Sized and Medium-Sized Panels
3.4.3: Large Panel
3.5: Global Micro LED Market by Application
3.5.1: Display
3.5.1.1: Near-to-Eye (NTE) Devices
3.5.1.1.1: AR HMD:
3.5.1.1.2: VR HMD:
3.5.1.2: Smartwatches
3.5.1.3: Televisions
3.5.1.4: Head-up-Displays (HUD)
3.5.1.5: Smartphones & Tablets
3.5.1.6: Monitor & Laptop
3.5.1.7: Digital Signage
3.5.2: Lighting
3.5.2.1: General Lighting
3.5.2.2: Automotive Lighting

4. Market Trends and Forecast Analysis by Region
4.1: Global Micro LED Market by Region
4.2: North American Micro LED Market
4.2.1: Market by End Use Industry: Consumer Electronics, Automotive, Advertisement, Aerospace and Defense, and Others
4.2.2: Market by Panel Size: Micro-Display, Small Sized and Medium Sized Panel, and Large Panel
4.2.3: Market by Application: Near-to-Eye Devices, Smartwatches, Televisions, Head-Up Displays, Smartphones and Tablets, Monitors and Laptops, Digital Signage, General Lighting, and Automotive Lighting
4.2.4: United States Micro LED Market
4.2.5: Mexican Micro LED Market
4.2.6: Canadian Micro LED Market
4.3: European Micro LED Market
4.3.1: Market by End Use Industry: Consumer Electronics, Automotive, Advertisement, Aerospace and Defense, and Others
4.3.2: Market by Panel Size: Micro-Display, Small Sized and Medium Sized Panel, and Large Panel
4.3.3: Market by Application: Near-to-Eye Devices, Smartwatches, Televisions, Head-Up Displays, Smartphones and Tablets, Monitors and Laptops, Digital Signage, General Lighting, and Automotive Lighting
4.3.4: German Micro LED Market
4.3.5: Italian Micro LED Market
4.3.6: United Kingdom Micro LED Market
4.4: APAC Micro LED Market
4.4.1: Market by End Use Industry: Consumer Electronics, Automotive, Advertisement, Aerospace and Defense, and Others
4.4.2: Market by Panel Size: Micro-Display, Small Sized and Medium Sized Panel, and Large Panel
4.4.3: Market by Application: Near-to-Eye Devices, Smartwatches, Televisions, Head-Up Displays, Smartphones and Tablets, Monitors and Laptops, Digital Signage, General Lighting, and Automotive Lighting
4.4.4: Chinese Micro LED Market
4.4.5: Japanese Micro LED Market
4.4.6: Indian Micro LED Market
4.5: ROW Micro LED Market
4.5.1: Market by End Use Industry: Consumer Electronics, Automotive, Advertisement, Aerospace and Defense, and Others
4.5.2: Market by Panel Size: Micro-Display, Small Sized and Medium Sized Panel, and Large Panel
4.5.3: Market by Application: Near-to-Eye Devices, Smartwatches, Televisions, Head-Up Displays, Smartphones and Tablets, Monitors and Laptops, Digital Signage, General Lighting, and Automotive Lighting

5. Competitive Analysis
5.1: Product Portfolio Analysis
5.2: Geographical Reach
5.3: Porter’s Five Forces Analysis

6. Growth Opportunity and Strategic Analysis
6.1: Growth Opportunities Analysis
6.1.1: Growth Opportunities for the Global Micro LED Market by End-Use Industry
6.1.2: Growth Opportunities for the Global Micro LED Market by Panel Size
6.1.3: Growth Opportunities for the Global Micro LED Market by Application
6.1.4: Growth Opportunities for the Global Micro LED Market by Region
6.2: Emerging Trends in Global Micro LED Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Micro LED Market
6.3.3: Mergers, Acquisitions and Joint Ventures in the Global Micro LED Market

7. Company Profiles of Leading Players
7.1: Apple Inc.
7.2: Samsung Electronics Co. Ltd
7.3: Sony Corp
7.4: Oculus VR
7.5: Epistar Corporation
7.6: Lumens
7.7: Glo AB
7.8: X-Celeprint
7.9: PlayNitride
7.10: VerLASE Technologies LLC
7.11: Plessey Semiconductor Ltd.
7.12: JBD Inc.
7.13: Ostendo Technologies, Inc.
7.14: MICLEDI
7.15: Microluce
.

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87 figures/charts and 87 tables are provided in this 183 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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