Micro-LED Display Market: Current Analysis and Forecast (2022-2028)

Report Description

The global Micro-LED Display Market is expected to grow at a growth rate of around 80% during the forecast period. Micro-LED is a display technology based on tiny (and thus micro-) LED devices used to directly generate color pixels. micro-LED displays have the potential to create highly efficient and attractive flexible displays that challenge current high-end OLED displays. Furthermore, micro-LEDs have a contrast ratio of 1,000,000:1, making them much brighter than OLED displays.

The global micro-LED display market is growing rapidly on the account of the increasing demand for brighter and more power-efficient display panels for consumer electronic devices, and the high adoption rate of micro-LED displays in premium smartphones. Moreover, factors such as the growing demand for wearable displays for smartwatches and head-mounted displays and the quickly growing consumer electronics industry are also contributing to the growth of the market. For instance, a total of 275 Mn units of wearable devices shipped globally in 2021 and this number is expected to grow exponentially due to the rising trend of using wearable devices.

Some of the major players operating in the market include Apple Inc., Sony Group Corporation, Samsung Electronics Co. Ltd., Nanosys Inc., LG Corporation, AUO Corp., Meta Platforms Inc., PRP Optoelectronics Ltd, Tianma Europe GmbH, and VueReal Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst product, on-premises deployment segment to witness robust CAGR during the forecast period”

Based on product, the market is classified into large-scale displays, small and medium-sized displays, and micro displays. Among these, the small and medium-sized display segment captured a commendable share of the market and is expected to grow at a robust CAGR during the forecast period mainly owing to the high demand in the market for AR/VR devices, wearable devices, and wide range of smartphones. Further, micro-LEDs are preferred for small and medium-sized displays because they provide best-in-class picture quality compared to other display technologies.

“Amongst application, the smart and tablet segment to hold a significant share in the market in 2020”

Based on application, the market is divided into smartphones and tablets, PC and laptops, TV, smartwatches, and others. The smart and tablet segment catered to a prominent share of the global micro-LED display market mainly due to the increasing adoption of micro-LED displays among major smartphone and tablet manufacturers and a quickly growing smartphone industry. Further on, increasing investment in research and development activities and rising disposable income of consumers worldwide are some other factors contributing to the growth of this segment.

“Asia-Pacific to hold a significant share in the market”

Asia-Pacific is expected to grow at a strong growth rate during the forecast period. Rapid technological advancement in the electronics industry is one of the major factors driving the growth of the micro-LED display market in the region. In addition, major companies such as Sony Group Corporation, Samsung Electronics Co. Ltd., and others are investing heavily to expand their manufacturing capabilities to provide quality display panels at low prices.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global micro-LED display market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Micro-LED Display Market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global micro-LED display market were the three major steps undertaken to create and analyze the adoption of micro-LED displays in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global micro-LED display market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the micro-LED display market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the micro-LED display market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, application, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the micro-LED display market. Further, we conducted factor analysis using dependent and independent variables such as product, application, and industry of micro-LED display. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the micro-LED Display market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global micro-LED display market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the micro-LED display market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global micro-LED display market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global micro-LED display market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the product, application, and industry in the global micro-LED display market.

The main objective of the Global Micro-LED Display Market Study

The current & future market trends of the global micro-LED display market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the micro-LED display market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product, application, and industry
• Define and analysis of the regulatory framework for the micro-LED display industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the micro-LED display market for the major region
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the micro-LED display market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team