The new report by Expert Market Research titled, ‘Global Micro Light-Emitting Diode Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the global micro light-emitting diode market, assessing the market based on its segments like type, application, sector, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026):
• Forecast CAGR (2021-2026): 85%
A micro-LED display is a new technology that consists of a cluster of small LEDs that make up a single pixel element. In comparison to typical OLED and LED display technologies, it provides better contrast. Furthermore, as compared to other technologies such as LEDs and OLEDs, the power consumption of micro-LED displays is lower. As a result, the market is growing due to increased demand for brighter, more energy-efficient devices.
Industry Definition and Major Segments
A micro light-emitting diode (LED) is a display technology that consists of small light-emitting diodes of various colors arranged in a set. Micro-LEDs, mLEDs, and LEDs are all terms used to describe these LEDs. A micro light-emitting diode (LED) is an emissive display technology in which the light source is the photographic components, also known as pixels. As a result, emissive display systems do not require a separate backlight panel, allowing them to be thinner than LCDs.
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The types of micro light-emitting diode (LED) can be divided into:
The display can be further categorised based on its applications into:
• Smartphone and Tablet
• PC and laptop
• TV
• Smartwatch
• Others
The sectors can be divided into the following:
• Commercial
• Residential
• Industrial
Based on region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The integration of micro-LEDs into televisions is a major element driving the global micro light-emitting diode market forward (LED). Several television manufacturers have begun developing mini-LED TV prototypes with enhanced brightness and an extraordinarily wide range of HDR colours. Because there is no natural deterioration, such LEDs are expected to live longer than OLED panels. These advantages are projected to grow as micro-LEDs become more widely used in televisions. Micro-LEDs, like OLEDs, are designed for compact, low-power devices like smartwatches and smartphones. When compared to traditional LCD systems, both OLED and Micro-LED need significantly less energy. Micro-LED, unlike OLED, is based on traditional GaN LED technology, which provides up to 30 times the overall brightness of OLED while also having a greater lux/W efficiency. Even after years of R&D, micro-LEDs are still too expensive and not ready for commercial manufacture. Samsung and Apple have been promoting Micro LED technology, which has sparked interest in the industry and attracted a slew of new entrants. Plessey Semiconductors, AU Optronics, LG Display, Lumiode, and others, for example. Samsung technology is currently the most advanced with a consumption market share of over 52 percent, Asia-Pacific is the largest consumer region. With a 44 percent consumption market share, North America is the second largest consumption region after Asia-Pacific.
Key Market Players
The major players in the market are LG Electronics Inc., PlayNitride Inc., Plessey Semiconductors Ltd., Samsung Electronics Co. Ltd., VueReal Inc., Sony Corporation (NYSE: SNE), Tianma Microelectronics Co. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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