Micro-LED Display Market Size will foresee more than 100% growth rate to 2024: GMI Report concludes

The micro-LED display market growth is propelled by the small size and low power consumption ability of these devices make them suitable for the adoption in wearable devices.

Selbyville, Delaware , USA - May 15, 2019 /MarketersMedia/ —

The Asia Pacific micro-LED display market is anticipated to ship over 250 thousand units in 2018 grow due to the manufacturers of electronic devices rapidly switching to these components from the traditional LED or OLED components. Furthermore, the presence of many electronic device manufacturers encourages the display manufacturers in the region to adopt newer versions of technology to remain competitive in the industry.

Germany micro-LED display market growth will witness a surge over the forecast timespan due to the increasing usage of wearable devices in the country. The consumers are demanding technologically advanced and visually appealing gadgets as wearable devices. Wearable device manufacturers are continuously innovating to develop the product according to the consumer requirements. Micro LED allow manufacturers to develop products, such as smartwatches, making them lightweight, compact, and energy efficient.

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Micro-LED display market in digital signage applications is projected to grow significantly due to the increasing demand for the equipment in the retail sector. These components are suitable for digital signages due to their low cost and low power consumption. Digital signage demand is increasing in retail and advertising sectors. High demand from small retailers with low budgets is contributing towards the market growth.

Small panel size in micro-LED display market is anticipated to grow rapidly to reach revenue share of over 30% by 2024 due to the surging demand for small devices such as smartphones, near-to-eye devices and smartwatches. These components have several advantages over currently used OLED technology such as high degree of luminance, powerful contrast, and low operating temperatures. Furthermore, these devices owing to their low power consumption run for longer a lifespan as compared to the traditional components. This is encouraging the manufacturers of handheld devices to increasingly implement these components in the devices.

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The micro-LED display market expects shipments of approximately 1 million units by the end of 2018 and with shipments set to grow at over 115% CAGR from 2018 to 2024. Small size and low power consumption ability of these devices make them suitable for the adoption in wearable devices, propelling the market growth. These devices are being largely adopted in AR/VR devices due to the factors such as low weight, small size, and high brightness. These benefits also encourage the adoption of the technology in devices such as smartwatches and smartphones.

The key players in the micro-LED display market include Samsung Electronics, Epistar, Sony Corporation, X-Celeprint, Aledia, Plessey Semiconductors, and VerLASE Technologies. The manufacturers are increasingly investing in the technology development to enhance the functionality of these components, thus aiding the market size.

Browse key industry insights spread across 270 pages with 204 market data tables & 22 figures & charts from the report, “Micro-LED Display Market Size By Panel Size (Small [65”]), By Application (AR Headsets, VR Headsets, HUD, Smartwatch, Smartphone, TV, Digital Signage, Tablet, Laptop), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Russia, China, Japan, South Korea, India, Taiwan, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/micro-led-display-market

Table of Contents (ToC) of the report:
Chapter 5. Micro-LED Display Market, By Panel Size (Revenue, Shipment)
5.1. Key trends in the market display by panel size
5.2. Small (less than 10.5”)
5.2.1. Market estimates and forecast, 2018 – 2024
5.3. Medium (between 10.5” and 65”)
5.3.1. Market estimates and forecast, 2018 – 2024
5.4. Large (more than 65”)
5.4.1. Market estimates and forecast, 2018 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/micro-led-display-market

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