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VANCOUVER, BC , June 7, 2022 /PRNewswire/ -- According to Emergen Research, the global microLED display market size was USD 592.0 Million in 2021 and is expected to reach USD 123,039.6 Million in 2030 and register a revenue CAGR of 80.9% during the forecast period, 2021-2030.
Rapid advancements in microLED displays, increasing advantages of microLED display over LED displays, and growing demand for brighter and better viewing experiences are some key factors expected to drive microLED display market growth.
Market Size – USD 592.0 Million in 2021, Market Growth – at a CAGR of 80.9%, Market Trends – Increasing use of microLED displays in next-generation electronics
MicroLED displays comprise numerous microscopic LEDs that can self-illuminate per display pixel. MicroLED uses inorganic material that offer benefits of ultra-low black levels with higher peak brightness. MicroLED displays deliver numerous benefits such as a broad range of colours, high luminance, lower power consumption, long lifetime, excellent stability, wide view angle, high contrast, faster refresg rare, and seamless connection, among others.
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Increasing introduction of microLED commercial products, rising research and development activities to develop advanced consumer electronics, and the ability of microLED displays to create highly efficient and better looking flexible displays are some key factors expected to drive market revenue growth over the forecast period. MicroLED displays ensure increased brightness, long-life span, and a lower power consumption as compared to convention OLED displays and these are some other factors expected to boost demand for televisions with microLED displays and contribute to revenue growth of the market going ahead.
MicroLED uses LEDs that are smaller than normal and have the ability to function as individual pixels – which do not require backlighting. This, in turn, ensures the screens are slimmer and images are effectively controlled across the broad and makes greater colour fidelity, wider contrasts, and increased brightness available readily. Since microLEDs do not use organic components, the deterioration of performance that generally affects OLED screens are not application to MicroLED displays and these are some other factors that can boost revenue growth of the market going ahead. However, lack of knowledge regarding advanced technology and its use, high costs of microLED displays and expensive production processes, and complexities of supply chain are some key factors that can hamper revenue growth of the market to a certain extent going ahead.
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Small & Medium-Sized Display Segment to Account for Largest Revenue Share:
Small & medium-sized display segment accounted for largest revenue share in 2021 and is expected to account for a significantly larger share over the forecast period. Increasing demand for smart displays, introduction of novel and advanced televisions and touchscreen devices, and rising demand for displays with enhanced clarity and contrast due to rising popularity of immersive experiences are some key factors boosting revenue growth of the segment.
Smartphones & Tablets Segment Revenue to Support Market Growth:
Smartphones and tablets segment is expected to dominate other application segments in terms of revenue share over the forecast period attributable to increasing purchase of advanced smartphones due to rising disposable income among individuals, growing investment in research and development activities to develop new products, and increasing availability of smartphones and tablets equipped with microLED displays.
North America to Account for a Significantly Large Revenue Share:
North America is expected to account for a significantly large revenue share in the global market over the forecast period attributable to increasing penetration of smartphones, rising demand for innovative electronic products, increasing introduction of advanced and smart feature-enabled consumer devices, and presence of key companies in the market.
Major Companies in the Market Include:
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Revenue in USD Million and CAGR in % from 2022 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, application, industry, and region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Apple Inc., Sony Corporation, Aledia, eLux, Inc., LG Electronics, EPISTAR Corporation, PlayNitride Inc., VueReal, Samsung Electronics, Rohinni, Nanosys, Inc., and Jade Bird Display
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For the purpose of this report, Emergen Research has segmented the global microLED market based on product, application, industry, and region:
Product Outlook (Revenue, USD Million; 2019-2030)
Application Outlook (Revenue, USD Million; 2019-2030)
Industry Outlook (Revenue, USD Million; 2019-2030)
Regional Outlook (Revenue, USD Million; 2019-2030)
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