Stratview Research has published a new report titled “Micro LED Market” which is segmented By Application (Display, Lighting), By End Use (Consumer Electronics, Automotive, Aerospace and Defense, Others), and Region.
As per the study, the Micro LED Market is estimated to grow from USD 520.4 million in 2020 to USD 14,168.6 million by 2026 at a healthy CAGR of 75.3% during the forecast period.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on end-use, the micro-LED market has been classified into consumer electronics, automotive, aerospace and defense, and others. The consumer electronics segment accounted for the largest market share in 2020. This is mainly attributed to the introduction of a large number of start-ups, with strong R&D investments as well growing sales of consumer electronics among millennials.
By region, the North American Micro LED market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The Micro LED market growth is mainly propelled by increasing penetration of smartphones, tablets, and laptops, which will increase the adoption of the micro-LED. Also, increasing consumer spending as well as expanding the advertising sector further boosts the regional market growth.
The Asia-Pacific Micro LED market is expected to grow at a healthy CAGR during the review period. The regional growth is ascribed to the growing interest of major consumer electronic giants in APAC in adopting micro-LED technology. For instance, Samsung commercialized a few products into the digital signage vertical. Samsung’s “The Wall” is one of the key products in the micro-LED digital signage vertical.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Micro LED Market:
Key questions answered by the report
- What is the projected CAGR for revenue from the Micro LED Market during the forecast period?
- What would be the market be valued at by 2026?
- What is a major driving factor for growth of the market?
- Which region accounted for largest revenue share in the Micro LED Market?
- Which are the major market players?
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