Micro LED Display Market to cross USD 14 billion by 2024

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Global Micro LED Display Market to hit 14bn by
2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Micro LED Display Market

• Micro LED Display Market size is projected to
  surpass USD 250 million in 2018, and is set to
  exceed USD 14 billion by 2024 according to a new
  research report by Global Market Insights, Inc.
  The industry expects shipments of approximately 1
  million units by the end of 2018. Increasing
  demand for high-performance display solutions in
  advanced applications, such as wearable devices
  and automotive, will drive the micro LED display
  market growth. These energy-efficient devices
  potentially reduce the size of the wearable
  devices, thus encouraging the device
  manufacturers to adopt these components.
• The manufacturers are increasingly investing in
  the technology development to enhance the
  functionality of these components, thus aiding
  the micro LED display market size. For instance,
  to produce these components, gallium nitride LED
  wafers are grown on sapphire substrates. However,
  some of the manufacturers are investing in
  research for developing gallium nitride on
  silicon technology to increase the uniformity in
  wavelength and lower the inspection costs. This
  will aid in the industry growth.

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Continued...

• The lack of awareness and inadequate patents in
  the industry are expected to restrict the micro
  LED display market growth in the short-term.
  Inadequate patents in the industry will lead to
  the emergence of a large number of counterfeit
  products. Due to the newness of the technology
  and lack of standard procedures for manufacturing
  these components, the threat of the counterfeit
  products is low in the short-term but is expected
  to increase in the long-term.
• Lack of cost-effective procedure for the mass
  production of these components is expected to be
  one of the major restraining factors in the
  market. Currently, the manufacturing process is
  only cost-effective for the small-size displays.
  However, the manufacturers are working
  incessantly to develop a methodology for the mass
  production of these devices in variable sizes.
• The development of hybrid OLED technology is
  expected to hamper the industry growth. In
  February 2018, Samsung announced that it is
  developing a hybrid QD OLED technology for TV
  panels.

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UK micro LED display market size, by panel size,
2018 - 2024 (USD Million)

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Continued...

• The technology, according to the company is
  highly efficient for mid-sized video panels such
  as TV screens. OLED micro display companies, such
  as eMagin, are also investing in research in this
  field. This will restrict the growth of the large
  micro LED display market.
• Small panel size in micro LED display market is
  anticipated to grow rapidly to reach revenue
  share of over 30 by 2024 due to the surging
  demand for small devices such as smartphones,
  near-to-eye devices and smartwatches. These
  components have several advantages over currently
  used OLED technology such as high degree of
  luminance, powerful contrast, and low operating
  temperatures.
• Furthermore, these devices owing to their low
  power consumption run for longer a life-span as
  compared to the traditional components. This is
  encouraging the manufacturers of handheld devices
  to increasingly implement these components in the
  devices.

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Continued...

• The Asia Pacific micro LED display market is
  anticipated to ship over 250 thousand units in
  2018 grow due to the manufacturers of electronic
  devices rapidly switching to these components
  from the traditional LED or OLED components.
  Furthermore, the presence of a large number of
  electronic device manufacturers encourages the
  display manufacturers in the region to adopt
  newer versions of technology to remain
  competitive in the industry.
• Germany micro LED display market growth will
  witness a surge over the forecast timespan due to
  the increasing usage of wearable devices in the
  country. The consumers are demanding
  technologically-advanced and visually-appealing
  gadgets as wearable devices.
• Wearable device manufacturers are continuously
  innovating to develop the product according to
  the consumer requirements. Micro LED allow
  manufacturers to develop products, such as
  smartwatches, making them lightweight, compact,
  and energy-efficient.

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Industry Coverage

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Companies

• Some of the major companies in the micro LED
  display market include Sony, Samsung Electronics,
  Apple, Inc., Epistar, Micro Mesa Technologies,
  Plassey Semiconductor Technology, VerLASE
  Technology, and Glo AB.
• The industry is characterized by intense
  competition among the players for product
  development such as Apple and Sony. For instance,
  Leyard Optoelectronics launched a micro LED wall
  super small pitch of about P0.9.
• The main application of these components is
  projected to be indoor surveillance displays,
  unlike Sony and Apple that are focusing on
  wearable devices applications.

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Table OF Content
Chapter 1. Methodology and Scope 1.1.
Methodology 1.1.1. Initial data
exploration 1.1.2. Statistical model and
forecast 1.1.3. Industry insights and
validation 1.1.4. Definition and forecast
parameters 1.1.4.1. Definitions 1.1.4.2.
Assumptions, methodology forecast
parameters 1.2. Data Sources 1.2.1.
Primary 1.2.2. Secondary Chapter 2. Executive
Summary 2.1. Micro LED display industry 3600
synopsis, 2018 - 2024 2.1.1. Business
trends 2.1.2. Regional trends 2.1.3. Application
trends 2.1.4. Panel size trends
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