Micro LED Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2028)

 

Micro Led Market

Micro-LED is a matrix-based LED that offers superior energy efficiency, colour, brightness, and response time. It is also referred to as a microLED or mLED. Micro-LED technology is used in smartphones, tablets, laptop computers, televisions, smart watches, head-up displays, and other near-to-eye (NTE) devices. The growing demand for low-energy and small devices such as smartphones and smart watches is propelling the micro-LED market forward. The growing number of smartphone users worldwide is expected to drive market growth during the forecast period. According to the Australian Communications and Media Authority, the number of smartphone owners in Australia in May 2012 was 8.67 million, a 104 percent increase from 2018.

Furthermore, rising demand for OLED (Organic Light Emitting Diodes), a flat light emitting technology, is one of the factors limiting the global micro-LED market's growth. Another major trend driving the growth of the Micro-LED Market is strategic alliances with e-commerce platform providers. Manufacturers are focusing on digital marketing practises to expand their consumer base and generate revenue. Key market players are focusing on strategic alliances and partnerships with online retailers in order to easily provide architectural micro-LED products to consumers at affordable prices. For example, in July 2014, Phillips Lighting Limited formed a strategic alliance with Amazon.com, Inc. to strengthen its global market presence.

The expected penetration of micro-LED displays in NTE devices and premium smartphones is one of the key factors driving the micro-LED market during the forecast period. Similarly, rising demand for wearable displays for smartwatches and head mounted displays (HMDs) is expected to create lucrative opportunities for micro-LED market participants. However, the lack of patents and a proper supply chain is expected to limit market growth.

Every day, the proportion of the urban population grows, causing traffic congestion. In 2000, cities housed only 46.72 percent of the world's population; by 2007, cities housed more than half of the world's population (50.14 percent) for the first time. In urban areas, private and professional mobility poses significant challenges. The increasing urbanisation and population have increased traffic density levels, making commuting difficult for the general public. Furthermore, as the urban population expands, so will the volume of business conducted within cities and with business partners located outside of cities. As the urban population grows, so does the volume of transportation. For example, as cities' populations grow, so will traffic, as businesses like e-commerce, postal and logistics, and restaurants expand.

Micro-LED Market Panel Size-

·        Micro-display

·        Small and Medium-sized Panel

·        Large Panel

Applications of Micro-LED Market-

Display

·        Near-to-Eye (NTE) Device

·        Smartphone and Tablet

·        Smart Watch

·        Head-up Display (HUD)

·        Laptop and Monitor

·        Television

·        Digital Signage

Lighting

·        Automotive Lighting

·        General Lighting

 

Major Companies involved are- Apple Inc., Sony Corp., Tianma Micro-electronics, Ostendo Technologies, Inc., Oculus, VerLASE Technologies, Samsung Electronics Co., Ltd., ALLOS Semiconductors GmbH, JBD Inc, GLO-USA, INC., Uniqarta, Inc, Epistar Corporation, VueReal, Aledia, Plessey Semiconductors Ltd, Mikro Mesa Technology Co., Ltd., Sharp Corporation

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