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Micro-LED Display Market is projected to reach USD 33.03 BN by 2032, at a CAGR of 82.10% during the forecast period 2023-2032.

Nov 10, 2023 3:00 PM ET

Micro-LED Display Market is projected to reach USD 33.03 BN by 2032, at a CAGR of 82.10% during the forecast period 2023-2032.

The global micro-LED display market is likely to garner significant traction. The rising adoption of these displays in the premium flat-screen TV lineup drives the market growth. Market Research Future (MRFR) asserts that the global micro-LED display market value is poised to escalate from USD 0.15 BN in 2022 to USD 33.03 BN by 2032, growing at an 82.10% CAGR throughout the assessment period (2023-2032).

Major Players

Leading micro-LED display market players are

  • X-Celeprint
  • Epistar Corporation
  • LG Electronics Inc
  • Elux, Inc.
  • JBD
  • Nanosys Inc.
  • Sony Corporation
  • Samsung Electronics
  • Aledia
  • Plessey
  • PlayNitride Inc. among others. 

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Due to their highly energy-efficient and quality imaging features, Micro light-emitting diode (MicroLED) displays witness significant demand. The shift from quantum-dot LED to micro-LED and OLED and the vast demand for micro-LED displays describe the growing market landscape. These displays also witness a vast uptake in smartphones, computer monitors, tablets, and TVs, driving the market demand.

The increasing adoption of micro-LED display technology for its vibrant color displays and low-energy consumption in various applications is a major factor bolstering the market growth. The growing adoption and demand for energy-efficient display solutions and enhanced display technologies define the growing market landscape. 

Additionally, the increasing demand for head-up displays (HUDs) in automotive to help improve consumer experiences and ensure safety is a major growth driver. Increasing R&D investments and micro-LED displays adoption in telecommunication, commercial, healthcare, and defense sectors would escalate the market shares. The high adoption of micro-LED displays in mobile and smartphones would foster the market size. 

Global Micro-LED Display Market – Segments

The micro-LED display market is segmented into panel size, applications, verticals, and regions. The panel size segment comprises micro-display, small & medium-sized panels, and large panels. The application segment comprises smartphones & tablets, NTE devices, televisions, monitors & laptops, digital signage, smartwatches, and heads-up displays. The vertical segment comprises consumer electronics, entertainment & advertisement, automotive, aerospace & defense, and others. By region, the micro-LED display market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and others.

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Global Micro-LED Display Market – Regional Analysis

APAC dominates the global micro-LED display market due to the increasing penetration of mobile-connected devices. Besides, the rising demand for automotive HUD directly augments the need for LED displays in the region. Also, leading display manufacturers are shifting their bases to rapidly developing countries, providing vast impetus to the region’s micro-LED display market share.

Global Micro-LED Display Market – Competitive Analysis

Highly competitive, the micro-LED display market appears fragmented, with the presence of several well-established players. Display manufacturers strengthen their business structure by establishing new production units in rapidly growing countries. Such new plants expand their product manufacturing & service and support production capabilities to meet local product demand.

Industry/ Innovation/ Related News

Aug.02, 2023 — Samsung Electronics launched its ultra-luxurious TV with a micro-LED display in India. The new Samsung TV has a massive screen size of 110 inches, standing for absolute splendor and next-level technology. The Micro LED is unbelievably striking and boasts a sleek device designed for consumers seeking for ultra-premium viewing experience. This Micro LED is made from sapphire material, the second hardest material on Earth, allowing vivid colors on the screen that never fade.

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About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

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