The global micro light-emitting diode (LED) market attained a value of about US$ 2984.42 million in 2022 and is estimated to reach a valuation of US$ 119744.72 million by 2028, growing at a CAGR of nearly 85% during the forecast period from 2023 to 2028.
Since micro-LEDs may be individually regulated and emit light, they are much simpler than LCDs. Due to the lack of filters in LCDs, displays, as a result, offer much-improved image quality (response time, contrast) while also being more effective. Organic emissive materials are used to make the tiny subpixels that makeup OLEDs. Although micro-LEDs have an inorganic LED structure, they are substantially comparable. Micro-LEDs are likely to outperform OLEDs in terms of efficiency and brightness, durability (longer lifetime), and color spectrum.
Factors Influencing the Growth of the Global Market
Impact Analysis of COVID-19
The COVID-19 epidemic has influenced the global micro-LED market. The delay of new projects across the globe has impacted demand in a number of sectors, including manufacturing, industry, and retail. Although raw material sourcing had little impact on market participants, time and transportation costs remained significant issues.
Although the COVID-19 epidemic has temporarily halted the fieldwork of numerous significant projects, the market is likely to continue healthy, with a cumulative number of shipments being only slightly impacted in the following three years, starting in 2020.
Regional Analysis
North America dominated the global market. One of the main factors in the region's adoption of micro-LED is the rising use of smartphones. Sales of smartphones have increased steadily in recent years in the US. Zippia estimates that roughly 294.15 million Americans, or about 89% of the entire population, are smartphone owners.
Asia Pacific is likely to grow at the highest CAGR over the forecast period. This is due to the presence of top LED foundries, display panel makers, and consumers. Additionally, the micro light emitting diode (LED) market in the region will expand due to the most recent technical advancement in micro-LEDs.
Prominent Competitors
Some of the leading companies profiled in the global micro light emitting diode (LED) market are:
Segmentation Outline
The global micro light emitting diode (LED) market segmentation focuses on Type, Application, Sector, and Region.
By Type
By Application
By Sector
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
4 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE MODEL
4.4 VALUE CHAIN ANALYSIS
5 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET, BY TYPE
5.1 OVERVIEW
5.2 DISPLAY
5.3 LIGHTING
6 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET, BY APPLICATION
6.1 OVERVIEW
6.2 SMARTPHONE
6.3 TABLET
6.4 PC
6.5 LAPTOP
6.6 TV
6.7 SMARTWATCH
6.8 OTHERS
7 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET, BY SECTOR
7.1 OVERVIEW
7.2 COMMERCIAL
7.3 RESIDENTIAL
7.4 INDUSTRIAL
8 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL MICRO LIGHT-EMITTING DIODE (LED) MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
10 COMPANY PROFILES
10.1 LG ELECTRONICS INC.
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.2 PLAYNITRIDE INC.
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.3 PLESSEY SEMICONDUCTORS LTD.
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.4 SAMSUNG ELECTRONICS CO., LTD.
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.5 VUEREAL INC.
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.6 SONY CORPORATION
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
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