MicroLED Display Market Size to Reach USD 123,039.6 Million in 2030 | Emergen Research

VANCOUVER, BC, June 7, 2022 /PRNewswire/ -- According to Emergen Research, the global microLED display market size was USD 592.0 Million in 2021 and is expected to reach USD 123,039.6 Million in 2030 and register a revenue CAGR of 80.9% during the forecast period, 2021-2030.

Rapid advancements in microLED displays, increasing advantages of microLED display over LED displays, and growing demand for brighter and better viewing experiences are some key factors expected to drive microLED display market growth.

Market Size – USD 592.0 Million in 2021, Market Growth – at a CAGR of 80.9%, Market Trends – Increasing use of microLED displays in next-generation electronics

Market Dynamics:

MicroLED displays comprise numerous microscopic LEDs that can self-illuminate per display pixel. MicroLED uses inorganic material that offer benefits of ultra-low black levels with higher peak brightness. MicroLED displays deliver numerous benefits such as a broad range of colours, high luminance, lower power consumption, long lifetime, excellent stability, wide view angle, high contrast, faster refresg rare, and seamless connection, among others.

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Increasing introduction of microLED commercial products, rising research and development activities to develop advanced consumer electronics, and the ability of microLED displays to create highly efficient and better looking flexible displays are some key factors expected to drive market revenue growth over the forecast period. MicroLED displays ensure increased brightness, long-life span, and a lower power consumption as compared to convention OLED displays and these are some other factors expected to boost demand for televisions with microLED displays and contribute to revenue growth of the market going ahead.

MicroLED uses LEDs that are smaller than normal and have the ability to function as individual pixels – which do not require backlighting. This, in turn, ensures the screens are slimmer and images are effectively controlled across the broad and makes greater colour fidelity, wider contrasts, and increased brightness available readily. Since microLEDs do not use organic components, the deterioration of performance that generally affects OLED screens are not application to MicroLED displays and these are some other factors that can boost revenue growth of the market going ahead. However, lack of knowledge regarding advanced technology and its use, high costs of microLED displays and expensive production processes, and complexities of supply chain are some key factors that can hamper revenue growth of the market to a certain extent going ahead.

COVID-19 Impact Analysis 

• Social distancing and restrictions severely disrupted businesses and operations
• Lockdowns caused disruptions in transportation and logistics
• Impacted manufacturing activities and mining operations globally
• Took a toll on economy of various countries
• Caused sudden and drastic downturn in economic activity
• Disrupted agriculture, fisheries, dairy, and other sectors
• Caused loss of employment and financial crisis
• Supply impacts were further compounded owing to reduced disposable income
• Emergence of variants continue to cause concerns and impact normal routines

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Small & Medium-Sized Display Segment to Account for Largest Revenue Share:

Small & medium-sized display segment accounted for largest revenue share in 2021 and is expected to account for a significantly larger share over the forecast period. Increasing demand for smart displays, introduction of novel and advanced televisions and touchscreen devices, and rising demand for displays with enhanced clarity and contrast due to rising popularity of immersive experiences are some key factors boosting revenue growth of the segment.

Smartphones & Tablets Segment Revenue to Support Market Growth:

Smartphones and tablets segment is expected to dominate other application segments in terms of revenue share over the forecast period attributable to increasing purchase of advanced smartphones due to rising disposable income among individuals, growing investment in research and development activities to develop new products, and increasing availability of smartphones and tablets equipped with microLED displays.

North America to Account for a Significantly Large Revenue Share:

North America is expected to account for a significantly large revenue share in the global market over the forecast period attributable to increasing penetration of smartphones, rising demand for innovative electronic products, increasing introduction of advanced and smart feature-enabled consumer devices, and presence of key companies in the market.

Major Companies in the Market Include:

• Apple Inc.
• Sony Corporation
• Aledia
• eLux, Inc.
• LG Electronics
• EPISTAR Corporation
• PlayNitride Inc.
• VueReal
• Samsung Electronics
• Rohinni
• Nanosys, Inc.
• Jade Bird Display

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Scope of Research

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For the purpose of this report, Emergen Research has segmented the global microLED market based on product, application, industry, and region:

Product Outlook (Revenue, USD Million; 2019-2030)

• Large-Scale Display
• Small & Medium-Sized Display
• Micro Display

Application Outlook (Revenue, USD Million; 2019-2030)

• Smartwatches
• Televisions
• Head-Up Display
• Smartphones & Tablets
• Monitors & Laptops
• Digital Signage

Industry Outlook (Revenue, USD Million; 2019-2030)

• Consumer Electronics
• Entertainment & Advertisement
• Retail
• Automotive
• Aerospace & Defense
• Others

Regional Outlook (Revenue, USD Million; 2019-2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Benelux
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Turkey
• Rest of Middle East & Africa

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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