Apr 24, 2017: Smartphones are expected to grow at the highest rate in the micro-LED market. There is a huge market potential for micro-LED display devices in the consumer electronics vertical due to the increasing demand for devices such as smartphones and smart wearables.
Smartphones are expected to witness high growth in shipments between 2021 and 2025. Premium smartphones in the display market usually incorporate the latest available display technology owing to superior quality pictures that it offers. Micro-LED technology, once commercialized for smartphones, is expected to penetrate into the premium smartphone market at a high rate.
North America is expected to hold the largest share of the micro-LED market owing to the high adoption rate of the latest display and lighting technologies, especially in the consumer electronics and retail verticals. North America holds the largest market size and APAC witness the highest growth in the micro-LED market. The market in the APAC region is expected to grow at the highest rate due to the presence of major display panel manufacturers, LED foundries, and brand product manufacturers in the region – companies usually launch their new products or technologies in their native regions. Early exposure to the latest display and lighting products is expected to be the driving factor for the growth of the market in the consumer electronics and other industries in APAC.
The rising demand for OLED displays, high growth of the flexible display market, and adoption of folded displays for smartphones in the near future are restraining the growth of the market. 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.
The consumer electronics hold the largest share of the micro-LED market between 2019 and 2025. This report segments the micro-LED market comprehensively and provides the closest market size estimation for major industry verticals and applications across various regions. This report is likely to help stakeholders better understand their competitors and gain insights on ways to improve their position in the business. The competitive landscape section includes the competitor ecosystem, overview of the business strategies of Top 25 players and respective product (technology) offerings, new product or prototype developments, partnerships, and mergers and acquisitions.