The Micro Led Market is Estimated To Witness High Growth Owing To Increasing Demand for Energy Efficient Displays

MICRO-LED MARKET


 The Micro Led Market is estimated to be valued at US$ 273.15 Mn in 2023 and is expected to exhibit a CAGR of 82.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


The Micro Led Market Market is estimated to witness high growth owing to increasing demand for energy efficient displays. Micro LEDs are tiny LEDs with inorganic structure made from materials like gallium nitride and indium phosphide. They are self-emitting like OLEDs but are more durable and energy efficient. They allow for high dynamic range images and unlike OLEDs, do not suffer from issues like burn-in. Growing demand for large screen displays in automotive, consumer electronics and entertainment industries is propelling growth of the micro LED market.

Market Overview:
Micro LEDs are tiny LEDs used in displays as an alternative to LCD and OLED displays. They have inorganic structure and use materials like gallium nitride and indium phosphide. Micro LED displays offer higher contrast, improved brightness and are more energy efficient than LCDs. They offer longer lifespan without issues like image retention and burn-in seen in OLEDs.

Market key trends:
The micro LED market is witnessing high growth driven by increasing demand for energy efficient displays. Micro LED displays consume 80% less power than LCDs and last much longer without degradation in image quality. They also allow for high dynamic range (HDR) images and have faster response time than OLEDs. Growing applications of large screens in automotive, consumer electronics and smart watches is fueling adoption of micro LED displays. Major players are focusing on development of flexible and transparent micro LED displays to expand application scope in wearables and AR/VR devices. Mass transfer techniques like inkjet printing are being developed to enable low-cost mass production of micro LED displays.

Porter’s Analysis

Threat of new entrants: The micro LED market faces low threat from new entrants due to high capital investment required for micro LED display production. Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like OLED and LCD displays. Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of alternative suppliers for materials like gallium nitride. Threat of new substitutes: Threat from new substitutes is low as micro LED displays offer superior features like high brightness, contrast, response time and lifespan compared to existing displays. Competitive rivalry: Intense competitive rivalry is expected due to presence of major players like Apple, Sony and Samsung investing heavily in micro LED display technology.

SWOT Analysis

Strengths: High brightness, contrast and lifespan; Low power consumption; Potential to replace LCD and OLED displays. Weaknesses: High production costs; Small scale manufacturing challenges. Opportunities: Growing demand for large size displays; Increased adoption in premium products. Threats: Supply constraints of materials like gallium nitride; Competition from established LCD and OLED display technologies.

Key Takeaways

The global micro LED market is expected to witness high growth, exhibiting CAGR of 82% over the forecast period, due to increasing adoption in large displays for consumer electronics. The Asia Pacific region currently dominates the micro LED market and is expected to maintain its leading position during the forecast period, owing to presence of electronic display manufacturing hubs and key players like Samsung and Apple in countries like China, South Korea and Japan.

Key players operating in the micro LED market include Apple, Oculus VR, Sony, Samsung Electronics, X-Celeprint, Nanosys, Jade bird display, aledia, mikro mesa, verlase technologies, and allos semiconductors. Apple and Samsung account for majority of the share due to aggressive investments and strategic partnerships to commercialize micro LED displays for premium consumer devices. Other players are collaborating to develop efficient micro LED manufacturing processes to cater to growing demand.

Explore more trending article on this topic: 

https://www.newswirestats.com/the-emergence-of-micro-leds-is-anticipated-to-openup-the-new-avenue-for-the-global-micro-led-market/

Comments

Post a Comment

Popular posts from this blog

Rising Adoption Of Non-Invasive Screening Techniques Is Anticipated To Open Up New Avenues For The Leukemia Screening Market

Image
The leukemia screening market The leukemia screening market is estimated to be valued at US$ 17.04 Bn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview : Leukemia screening refers to diagnostic tests used to detect presence of leukemia in blood or bone marrow. Leukemia is a type of cancer affecting the blood and bone marrow. The key products used in leukemia screening include next-generation sequencing tests, ELISA tests, immunohistochemistry, molecular diagnostic tests, and flow cytometry. These tests help detect specific leukemia cells and classify the disease subtype. They play a vital role in disease diagnosis and treatment planning. Market Dynamics : Rising prevalence of leukemia across the globe is a key factor driving the market growth. According to data by WHO, leukemia accounted for 3.5% of total cancer cases and 2.8% of cancer deaths worldwide...
Read more

GCC Air Purifier Market Estimated to Witness High Growth Owing to Rising Pollution Levels

Image
  GCC Air Purifiers  Air purifiers are household electronic appliances that help remove airborne pollutants from indoor spaces such as homes and offices. Air purifiers come equipped with HEPA filters that capture dust, pollen, smoke, bacteria and other microbes, as well as activated carbon filters that absorb chemical vapors, odors, and volatile organic compounds. The devices help improve indoor air quality by reducing exposure to particulate matter that originates from outdoor sources as well as gaseous pollutants from indoor activities. The global GCC air purifier market is estimated to be valued at US$ 127.3 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: One of the major drivers for the growth of the GCC air purifier market is the rising levels of air pollution across cities in the region. Rapid industrialization and urbanization, couple...
Read more

Global Naphthenic Base Oil Market Estimated to Witness High Growth Owing to Rising Adoption in Various End-Use Industries

Image
Global Naphthenic Base Oil Market   Paragraph: Naphthenic base oils are petroleum-based lubricant oils that are refined from crude oil. They have excellent viscosity-temperature properties and thermal stability. Naphthenic base oils find wide applications as process oils in industrial applications such as rubber and polymer production. They are also extensively used as lubricating oils for industrial machinery, engines, and transmissions. Moreover, naphthenic base oils have emerged as an environment-friendly alternative to conventional base oils owing to their low toxicity. The global naphthenic base oil market is estimated to be valued at US$ 1.26 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Dynamics: The global naphthenic base oil market is expected to witness significant growth over the forecast period owing to the rising adoption of naphthenic base oi...
Read more