Micro LED Market is Projected to Reach USD 34,944.12 million in 2028
Stratview Research
Updated 4 min read
Stratview Research
Micro LED Market is expected to reach USD 34,944.12 million in 2028, growing at a CAGR of 79.5% during 2022- 2028, reports Stratview Research.
Raipur, Nov. 07, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Micro LED Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Micro LED Market is driven by a host of factors, some of which are noted below:
Growing penetration of micro-LED displays in NTE devices and premium smartphones.
Rising demand for brighter & more power-efficient display panels for mobile devices, smartwatches, and AR / VR products.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Micro LED Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
By Application Type
By End-use Type
By Region
Micro LED Market Insights
Market Trends by Application Type
Based on Application, the micro-LED market has been classified into display & lighting. Display is expected to be the largest application segment in the market during the forecast period. Increasing demand for smart phone and wearables devices, increasing demand for better display solutions are some of the factors driving the growth of the segment in the market.
Market Trends by End Use Trends
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 2021. 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.
Which region offers the best opportunity and growth?
By region, the North American Micro LED market accounted for the largest share in 2021 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.
COVID-19 Impact on the Micro LED Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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