Micro-LED Display Market to Reach $23.4 Bn, Globally, by 2030 at 77.1% CAGR: Allied Market Research
Increase in demand for bright and power-efficient display panels and rise in preference of electronic giants toward micro-LED displays drive the global micro-LED display market.
PORTLAND, Ore., April 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Micro-LED Display Market by Product (Large scale Display, Small and Medium-sized Display, Micro Display), by Application (Smartphone and Tablet, PC and Laptop, TV, Smartwatch, Others), by Industry Vertical (Consumer Electronics, Entertainment and Sports, Automotive, Retail, Government and Defense, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global micro-LED display industry generated $56.00 million in 2020, and is expected to reach $23.4 billion by 2030, witnessing a CAGR of 77.1% from 2021 to 2030.
Drivers, Restraints, and Opportunities
Increase in demand for bright and power-efficient display panels and rise in preference of electronic giants toward micro-LED displays drive the global micro-LED display market. However, high cost of micro-LED displays restrains the market growth. On the other hand, upsurge in demand for consumer electronics products presents new opportunities in the coming years.
Download Sample Report (Get Full Insights in PDF - 260 Pages) @ https://www.alliedmarketresearch.com/request-sample/2322
Covid-19 Scenario
- Production facilities in the electronics and semiconductors sector have been stopped due to lockdown measures, disrupted supply chain, and unavailability of the workforce across the globe. This affected the production volumes of micro-LED displays.
- The demand from applications sectors such as manufacturing, industrial, retail, and others decreased significantly due to stoppage of daily operation during the lockdown. However, the demand is projected to regain post-lockdown.
- Owing to reduced advertising expenditure and postponement or cancellation of a few projects, the micro-LED display market has been negatively impacted.
The Large Scale Display Segment to Maintain its Leadership Status Throughout the forecast period
Based on product, the large scale display segment contributed the highest share in 2020, accounting for nearly half of the global micro-LED display market, and is projected to maintain its leadership status throughout the forecast period. This is due to its application in control rooms, stadiums, and other large public venues along with benefits such as minimization in the energy consumption and high contrast & brightness. However, the micro display segment is projected to witness the largest CAGR of 84.9% from 2021 to 2030, owing to the development of high-definition displays to provide enhanced viewing experience.
The Consumer Electronics Segment to Maintain its Lead Position during the Forecast Period
Based on industry vertical, the consumer electronics segment accounted for the highest share in 2020, holding nearly one-fifth of the global micro-LED display market, and is estimated to maintain its lead position during the forecast period. This is attributed to rise in demand for consumer electronics products such as televisions, digital camera, personal computers, video game consoles, smartphones, and others.
However, the entertainment and sports segment is expected to manifest the highest CAGR of 82.5% from 2021 to 2030, owing to preference for micro-LED displays over OLED and LCD display technologies for their low power consumption, high contrast range & brightness, prolonged service life, and environmental stability.
Interested to Procure the Data? Inquire Here @ https://www.alliedmarketresearch.com/purchase-enquiry/2322
North America to Continue its Dominance in Terms of Revenue by 2030
Based on region, North America held the highest market share in 2020, accounting for more than one-third of the global micro-LED display market, and is expected to continue its dominance in terms of revenue by 2030. This is attributed to surge in demand for consumer electronics across various countries, rise in purchasing power of its citizens, and increase in demand for smartphone & smartwatches. However, Asia-Pacific is projected to portray the fastest CAGR of 79.3% from 2021 to 2030, owing to the benefits of micro-LED displays over OLED and massive demand from countries such as China, India, and Indonesia.
Leading Market Players
- Aledia
- Apple Inc.
- eLux Inc.
- Glo AB
- LG Display
- PlayNitride Inc.
- Rohinni LLC
- Samsung Electronics Co. Ltd.
- Sony Corporation
- VueReal
Access AVENUE - A Subscription-Based Library (Premium On-Demand, Subscription-Based Pricing Model) @ https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Enquire for Customization with Detailed Analysis of COVID-19 Impact in Report @ https://www.alliedmarketresearch.com/request-for-customization/2322?reqfor=covid
Avenue Library Subscription | Request For 14 Days Free Trial of Before Buying:
https://www.alliedmarketresearch.com/avenue/trial/starter
Similar Reports:
Smart Display Market By Type (Signage, Mirror, and Home Display), Resolution (UHD, FHD, and HD), Display Size (Below 32 Inch, Between 32 to 52 Inch and Above 52 Inch) and End User (Automotive, Residential, Retail, Healthcare, and Sports and Entertainment): Global Opportunity Analysis and Industry Forecast, 2021–2028
Head-up Display Market by Type (Windshield-based and Combiner-based), Technology (Conventional and AR-based), End User (Aerospace and Automotive), and Sales Channel (OEMs and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027
Organic LED Market by Product Type (Display and Lighting), Technology (PMOLED, AMOLED, Transparent OLED, Top-Emitting OLED, Foldable OLED, and White OLED)and End Use (Consumer Electronics, Automotive, Retail, Industrial, Commercial, Aerospace & Defense, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027
3D Display Market by Type (Volumetric Display, Stereoscopic, and HMD), Technology (DLP RPTV, PDP, OLED, and LED), Access Method (Screen Based Display and Micro Display), and Application (TV, Smartphones, Monitor, Mobile Computing Devices, Projectors, HMD, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
Digital Out of Home Market By Format Type (Billboard, Transit, Street Furniture, and Others), Application (Indoor and Outdoor), and End User (Automotive, Personal Care & Households, Entertainment, Retail, Food & Beverages, Telecom, BFSI, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
Pre-Book Now with 10% Discount:
Large Format Display (LFD) Market- Opportunities and Forecasts, 2022-2028
Narrow Pixel Pitch LED Displays Market - Opportunities and Forecasts, 2022-2028
Curved Display Market: Global Opportunity Analysis and Industry Forecast, 2021–2027
World Embedded Display Market - Opportunities and Forecasts 2022-2030
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow us on: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article