Lucintel Anticipates that Asia Pacific will be the Fastest Growing Region in the Micro-LED Market
DALLAS, TX / ACCESSWIRE / December 8, 2020 / According to a new market report published by Lucintel, the future of the micro LED market looks promising with opportunities in the consumer electronics, automotive, advertising, and aerospace & defense industries. The global micro LED market is expected to reach an estimated $5.3 billion by 2025 with a CAGR of 69%-71% from 2019 to 2025. The major drivers for this market are growth in smartphones and wearable devices and increasing demand for brighter and better display solutions.
To download report brochure, please go to https://www.lucintel.com/micro-led-market.aspx and click "report brochure" tab from the menu.
In this market, display and lighting are the two major applications of micro LED system. Lucintel forecasts that display will remain the largest application segment, and it is also expected to witness the highest growth over the forecast period driven by increasing demand for better display solutions.
Within the micro LED market, large panels will remain the largest panel size segment, and the micro display segment is expected to witness the highest growth over the forecast period due to increasing demand for smartphones and wearable devices.
Asia Pacific will remain the largest region due to increasing investment by electronics giants in the global micro led market. APAC is also expected to witness the highest growth over the forecast period, supported by increasing demand for consumer electronic devices, such as smartwatches, smart devices, and AR/VR devices, smartphones, televisions, and laptops.
Apple, Samsung Electronics, Sony Corporation, Epistar Corporation Lumens, and Plessy Semiconductor are among the major micro LED manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the micro-LED market by application, panel size, end use industry, and region. Lucintel has prepared a comprehensive research report entitled "Micro-LED Market 2019-2024: Trends, Forecast, and Opportunity Analysis." This Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the micro-LED market by application, panel size, end use industry, and region as follows:
By Application [$M shipment analysis for 2013 - 2024]:
Display
Near-to-Eye (NTE) Devices
AR HMD
VR HMD
Smartwatch
Television
Head-up Display (HUD)
Smartphone and Tablet
Monitor and Laptop
Digital Signage
Lighting
General Lighting
Automotive Lighting
By Panel Size [$M shipment analysis for 2013 - 2024]:
Micro display
Small- and Medium-sized Panel
Large Panel
By End Use Industry [$M shipment analysis for 2013 - 2024]:
Consumer Electronics
Automotive
Advertisement
Aerospace & Defense
Others
Micro-LED Market By Region [$M shipment analysis for 2013 - 2024]:
North America
United States
Canada
Mexico
Europe
UK
Germany
Italy
Asia Pacific
China
Japan
India
Rest of the World
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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SOURCE: Lucintel
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