The adoption of Micro-LED technology is estimated to grow rapidly during the forecast period
The recent study on the micro-LED market covers an in-depth analysis of the market on the basis of application, industry vertical, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. According to the report titled “Micro-LED Market – Forecast from 2019 to 2024”, the market is estimated to witness an exponential growth throughout the course of the forecast period. The report has segmented the Micro-LED market by application (display, lighting), by industry vertical (consumer electronics, automotive, advertising, others) and by geography such as Americas (United States, Canada, Brazil, others), Europe Middle East and Africa (Germany, France, United Kingdom, Italy, others), and Asia Pacific (China, Japan, India, Taiwan, others). Micro LED is expected to change the sphere of screening technology and is considered superior to the existing technologies. The growing focus on miniaturization of devices and an anticipated increase in the number of wearable devices is significantly expected to drive the demand for micro-LED modules. Moreover, the ability of the technology to produce more brightness per watt is further expected to push its adoption. Furthermore, since the micro-LED requires no lead frame and metal wire, it reduces the cost of packaging, which is further estimated to supplement the growth of the market.
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Micro-LED is the next generation display technology.
Micro-LED technology has the ability to offer more accurate color adjustability, high brightness, longer luminous, and lower power consumption than existing OLED and TFT-LCD display technologies. In fact, in January 2019, Samsung Electronics Co., Ltd introduced its latest innovation in the modular micro-LED display technology during its annual First Look CES event in Las Vegas which included a new 75” display, a 219” The Wall as well as other various groundbreaking sizes, shapes and configurations for a next-generation modular Micro-LED display. Similarly, the Lextar Electronics Corporation released its new micro-LED chip technology at the Touch Taiwan 2018 exhibition held in August 2018. Thus, the commercial adoption of the micro-LED technologies for display application is estimated to grow at a very high rate.
Some of the major players discussed in the reports are Samsung Electronics Co., Ltd., LG Electronics, Inc., and Sony Corporation, among others.
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