Consumer Eelectronics Hold the Largest Share Micro-LED Market
April 17, 2017 | MarketsandMarketsEstimated reading time: 2 minutes
According to the new research report "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", the micro-LED market, the market is expected to reach USD 19,921.3 Million by 2025 from USD 254.1 Million in 2017, at a CAGR of 54.7% between 2019 and 2025.
Increasing demand for brighter and more power efficient display panels for several applications, increase in applications as well as adoption rate of near-to-eye (NTE) devices, and increasing interests from electronics giants Apple and Sony are the major drivers for the market growth. As of 2017, large format digital signage displays based on fine pixels are already commercialized.
Consumer electronics to hold the largest share of the micro-LED market between 2019 and 2025
Devices such as TV, smartphone, tablet, laptop, PC monitor, and smart wearables come under consumer electronics. These applications account for a significant share of the micro-LED market, thereby the consumer electronics industry. Rising demand for attractive and high specification display products is the main driver for the high growth and large market share of the consumer electronics vertical.
Smartphone devices to achieve highest market growth between 2021 and 2025
Smartphone is a high-volume application in terms of display panel shipments. Smartphones enabled with micro-LED displays are expected to be commercialized by 2021. Between 2021 and 2025, the shipment for micro-LED technology-based smartphones is expected to be largest compared to any other application. The adoption rate of micro-LED displays in premium smartphones is expected to rapidly increase over time, which is expected to drive the growth of the micro-LED market in smartphones. However, micro-LED display manufacturers are expected to face challenges to meet the demand–supply ratio, mainly due to the limited manufacturing capabilities during commercialization.
North America to hold the major market share of the micro-LED market between 2017 and 2025
North America, comprising the U.S., Canada, and Mexico, is expected to hold the largest share of the micro-LED market between 2017 and 2025. The U.S. is a major contributor to the growth of the North American market. Large market share in North America can be attributed to the fast adoption of the latest display and lighting technologies in consumer electronics, retail, and education industries, especially in the US. Due to the large population in economies, such as Japan, South Korea, China, and India, coupled with the thriving consumer electronics and retail sectors, there are immense opportunities for high growth of the micro-LED market in the APAC region. Presence of various display panel manufacturers, LED foundries, and brand customers are also likely to propel e the growth of market in APAC in the near future.
Major players 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).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Suggested Items
Book Excerpt: The Printed Circuit Assembler’s Guide to... Factory Analytics
04/24/2024 | I-Connect007 Editorial TeamIn our fast-changing, deeply competitive, and margin-tight industry, factory analytics can be the key to unlocking untapped improvements to guarantee a thriving business. On top of that, electronics manufacturers are facing a tremendous burden to do more with less. If you don't already have a copy of this book, what follows is an excerpt from the introduction chapter of 'The Printed Circuit Assembler’s Guide to... Factory Analytics: Unlocking Efficiency Through Data Insights' to whet your appetite.
Listen Up! The Intricacies of PCB Drilling Detailed in New Podcast Episode
04/25/2024 | I-Connect007In episode 5 of the podcast series, On the Line With: Designing for Reality, Nolan Johnson and Matt Stevenson continue down the manufacturing process, this time focusing on the post-lamination drilling process for PCBs. Matt and Nolan delve into the intricacies of the PCB drilling process, highlighting the importance of hole quality, drill parameters, and design optimization to ensure smooth manufacturing. The conversation covers topics such as drill bit sizes, aspect ratios, vias, challenges in drilling, and ways to enhance efficiency in the drilling department.
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Winner of The Science Show Rakett 69 Receives Incap Scholarship
04/24/2024 | IncapThe winner of the Rakett 69 science show, Andri Türkson, who stood out as an electronics enthusiast, received a scholarship from Incap Estonia, along with an internship opportunity in Saaremaa.
Alternative Manufacturing Inc. Awarded QML Requalification to IPC J-STD-001 and IPC-A-610
04/24/2024 | IPCIPC's Validation Services Program has awarded an IPC J-STD-001 and IPC-A-610 Qualified Manufacturers Listing (QML) requalification to Alternative Manufacturing Inc (AMI).