Micro LED Display Market by End-user and Geography - Forecast and Analysis 2022-2026

Published: Aug 2022

Pages: 125

SKU: IRTNTR73811

Snapshot

The micro LED display market share is expected to increase by USD 11.50 billion from 2021 to 2026, at a CAGR of 78.61%.

This micro LED display market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers micro LED display market segmentation by end-user (consumer electronics, automotive, aerospace and defense, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The micro LED display market report also offers information on several market vendors, including ALEDia, Apple Inc., AU Optronics Corp., eLux Inc., Innolux Corp., Japan Display Inc., JBD, LG Electronics Inc., Lumens Co. Ltd., Nanosys Inc., Optovate Ltd., PlayNitride Inc., Plessey Semiconductors Ltd., Rohinni LLC, Samsung Electronics Co. Ltd., Sony Group Corp., and VueReal Inc. among others.

What will the Micro LED Display Market Size be During the Forecast Period?

Download Report Sample to Unlock the Micro LED Display Market Size for the Forecast Period and Other Important Statistics

Micro LED Display Market: Key Drivers, Trends, and Challenges

The rise in demand for bright and power-efficient display panels is notably driving the micro LED display market growth, although factors such as the cyclical nature of the semiconductor industry may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the micro LED display industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Micro LED Display Market Driver

The rise in demand for bright and power-efficient display panels is one of the key drivers fueling the micro LED display market growth. A micro-LED display is a new technology that consists of a group of tiny LEDs, which make up a single pixel element. Furthermore, the power consumption of micro-LED displays is lower when compared to other technologies such as LEDs and OLEDs. There is a rising demand for brighter and more energy-efficient devices, which is leading to LED technology becoming widely adopted. Micro-LEDs, on the other hand, are LEDs that have a diameter of a few micrometers, which can be utilized to create self-emitting screens. As a result, micro-LEDs do not require a backlight panel, making them brighter and more energy-efficient. Thus, a rise in demand for such brighter and power-efficient devices fuels the growth of the market during the forecast period.

Key Micro LED Display Market Trend

The increasing number of M&A and partnerships among vendors is one of the key micro light-emitting diode (LED) display market trends propelling the market growth. Various local and global vendors operating in the global micro-LED display market are focusing on new acquisition and partnership deals. This will help the vendors penetrate regional and global markets easily, thereby increasing their customer base. This will also allow vendors in the market to diversify their product portfolios, thereby providing consumers with a wide range of options to choose from. Furthermore, the rise in the number of acquisitions by established and well-known regional and global players will result in their inorganic growth. Such factors will propel the market growth in the forecasted period.

Key Micro LED Display Market Challenge

The cyclical nature of the semiconductor industry is one of the factors limiting the micro LED display market growth. The fluctuations in demand for electronic products, such as consumer electronic devices and mobile devices, make forecasting in the global semiconductor industry extremely difficult. These fluctuations can also lead to the oversupply or undersupply of semiconductor ICs. Meanwhile, vendors might manufacture products based on the forecasts of customer demand, which may fluctuate significantly. Such fluctuations may lead to high inventory and manufacturing costs before actual sales. Hence, vendors would require high amounts of working capital to meet these costs. Also, incorrect forecasts or cancellations in orders for products can adversely affect the operating costs of vendors, which can be a huge discouragement for the vendors in the market.

This micro LED display market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global micro-light-emitting diode (LED) display market as a part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the micro LED display market during the forecast period.

Who are the Major Micro LED Display Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

This statistical study of the micro light-emitting diode display market encompasses successful business strategies deployed by the key vendors. The micro LED display market is fragmented and the vendors are deploying investing in R&D and product development activities to compete in the market.

Product Insights and News

aledia.com - Under the unified segment, the company develops and manufactures an LED display technology based on a unique 3D architecture.
aledia.com - The company offers unique microLED technology for applications such as smartwatches and laptops.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The micro LED display market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Micro LED Display Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the micro light emitting diode display market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Micro LED Display Market?

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36% of the market’s growth will originate from APAC during the forecast period. China, India, and South Korea are the key markets for the micro LED display market in APAC. Market growth in this region will be slower than the growth of the market in South America.

The increased interest of electronic device manufacturers in adopting micro-LED technology will facilitate the micro LED display market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of COVID-19 in 2020 had a negative impact on the regional market. However, in 2021, due to the availability of COVID-19 vaccines and the large-scale vaccination drives carried out by the governments of countries in APAC, operations in end-user industries gradually returned to normal. Therefore, the demand for micro-LED displays increased, which will lead to the growth of the market during the forecast period.

What are the Revenue-generating End-user Segments in the Micro LED Display Market?

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The micro LED display market share growth in the consumer electronics segment will be significant during the forecast period. One of the primary reasons for the growth of consumer electronics is the increasing penetration of smartphones due to the growing investments in 4G or 5G telecommunication network infrastructure. In 2022, the number of smartphone users in the world is 6.6 billion, or 84% of the global population. Moreover, the smartphone industry is driven by innovations that compel users to upgrade their devices frequently. Thus, the increasing penetration of smart homes globally is also positively impacting the growth of the global micro-light emitting diode display market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the micro LED display market size and actionable market insights on post-COVID-19 impact on each segment.

Micro LED Display Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Decelerate at a CAGR of 78.61%
Market growth 2022-2026	$ 11.50 billion
Market structure	Fragmented
YoY growth (%)	140.0
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 36%
Key consumer countries	US, China, India, South Korea, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ALEDia, Apple Inc., AU Optronics Corp., eLux Inc., Innolux Corp., Japan Display Inc., JBD, LG Electronics Inc., Lumens Co. Ltd., Nanosys Inc., Optovate Ltd., PlayNitride Inc., Plessey Semiconductors Ltd., Rohinni LLC, Samsung Electronics Co. Ltd., Sony Group Corp., and VueReal Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Micro LED Display Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive micro LED display market growth during the next five years
Precise estimation of the micro LED display market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the micro LED display industry across APAC, North America, Europe, South America, and Middle East and Africa
A thorough analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of micro LED display market vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by End-user

5.1 Market segments
- Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user
- Exhibit 26: Chart on Comparison by End-user
- Exhibit 27: Data Table on Comparison by End-user

5.3 Consumer electronics - Market size and forecast 2021-2026
- Exhibit 28: Chart on Consumer electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Consumer electronics - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Consumer electronics - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Consumer electronics - Year-over-year growth 2021-2026 (%)

5.4 Automotive - Market size and forecast 2021-2026
- Exhibit 32: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Automotive - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Automotive - Year-over-year growth 2021-2026 (%)

5.5 Aerospace and defense - Market size and forecast 2021-2026
- Exhibit 36: Chart on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Aerospace and defense - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Aerospace and defense - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Aerospace and defense - Year-over-year growth 2021-2026 (%)

5.6 Others - Market size and forecast 2021-2026
- Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
- Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
- Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.7 Market opportunity by End-user
- Exhibit 44: Market opportunity by End-user ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 46: Chart on Market share by geography 2021-2026 (%)
- Exhibit 47: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 48: Chart on Geographic comparison
- Exhibit 49: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.5 Europe - Market size and forecast 2021-2026
- Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)

7.10 UK - Market size and forecast 2021-2026
- Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.11 India - Market size and forecast 2021-2026
- Exhibit 82: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on India - Year-over-year growth 2021-2026 (%)

7.12 South Korea - Market size and forecast 2021-2026
- Exhibit 86: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 87: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 88: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 89: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 90: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 91: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 92: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 93: Overview on factors of disruption

9.4 Industry risks
- Exhibit 94: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 95: Vendors covered

10.2 Market positioning of vendors
- Exhibit 96: Matrix on vendor position and classification

10.3 Aledia
- Exhibit 97: Aledia - Overview
- Exhibit 98: Aledia - Product / Service
- Exhibit 99: Aledia - Key offerings

10.4 eLux Inc.
- Exhibit 100: eLux Inc. - Overview
- Exhibit 101: eLux Inc. - Product / Service
- Exhibit 102: eLux Inc. - Key offerings

10.5 JBD
- Exhibit 103: JBD - Overview
- Exhibit 104: JBD - Product / Service
- Exhibit 105: JBD - Key offerings

10.6 LG Electronics Inc.
- Exhibit 106: LG Electronics Inc. - Overview
- Exhibit 107: LG Electronics Inc. - Business segments
- Exhibit 108: LG Electronics Inc. - Key news
- Exhibit 109: LG Electronics Inc. - Key offerings
- Exhibit 110: LG Electronics Inc. - Segment focus

10.7 Lumens Co. Ltd
- Exhibit 111: Lumens Co. Ltd - Overview
- Exhibit 112: Lumens Co. Ltd - Product / Service
- Exhibit 113: Lumens Co. Ltd - Key offerings

10.8 Nanosys Inc.
- Exhibit 114: Nanosys Inc. - Overview
- Exhibit 115: Nanosys Inc. - Product / Service
- Exhibit 116: Nanosys Inc. - Key offerings

10.9 PlayNitride Inc.
- Exhibit 117: PlayNitride Inc. - Overview
- Exhibit 118: PlayNitride Inc. - Product / Service
- Exhibit 119: PlayNitride Inc. - Key offerings

10.10 Plessey Semiconductors Ltd.
- Exhibit 120: Plessey Semiconductors Ltd. - Overview
- Exhibit 121: Plessey Semiconductors Ltd. - Product / Service
- Exhibit 122: Plessey Semiconductors Ltd. - Key offerings

10.11 Samsung Electronics Co. Ltd.
- Exhibit 123: Samsung Electronics Co. Ltd. - Overview
- Exhibit 124: Samsung Electronics Co. Ltd. - Business segments
- Exhibit 125: Samsung Electronics Co. Ltd. - Key news
- Exhibit 126: Samsung Electronics Co. Ltd. - Key offerings
- Exhibit 127: Samsung Electronics Co. Ltd. - Segment focus

10.12 Sony Group Corp.
- Exhibit 128: Sony Group Corp. - Overview
- Exhibit 129: Sony Group Corp. - Business segments
- Exhibit 130: Sony Group Corp. - Key offerings
- Exhibit 131: Sony Group Corp. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 132: Inclusions checklist
- Exhibit 133: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 134: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 135: Research methodology
- Exhibit 136: Validation techniques employed for market sizing
- Exhibit 137: Information sources

11.5 List of abbreviations
- Exhibit 138: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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