GaN Micro LED Market to Represent a Significant Expansion at ~43% CAGR During 2019 - 2029

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GaN Micro-LED Market

• February 2020

Report Id REP-GB-10289 Published On
August-2019 Category Electronics,
Semiconductors, and ICT
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Research Methodology (1/2)

• Systematic Research Approach

In-depth secondary research is used to ascertain overall market size, top industry players, top products, industry associations, etc.
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GaN Micro-LED Market Analysis

• GaN Micro LED Market to Record CAGR of 43 Rise
  in Growth by 2029
• Future Market Insights (FMI), in its new study,
  predicts the worldwide sales of GaN micro-LED
  will increase 33 year-over-year to reach US
  197,000 in 2019, up from US 150,000 in 2018.
• GaN micro-LED has been in the research
  laboratories for years, and the launch of
  Samsung's Micro-LED displays, featuring
  self-emissive technology and modular
  capabilities, left consumers curious about the
  emerging technology. FMI report expects that GaN
  micro-LED will soon be a mass market proposition,
  as an array of millions of microscopic LEDs is
  set to replace incumbent technologies such as
  LCDs and OLEDs and penetrate major digital
  displays markets.
• Despite their extremely high price tag and
  significant complexity in design, GaN micro LEDs
  are gradually finding acceptance in a wide range
  of applications, in the view of greater
  efficiency, improved brightness, and lower power
  consumption. As the war of innovation supremacy
  continues in the display markets, GaN micro-LED
  market players are putting greater emphasis on
  bringing the production challenges under control
  and costs down. 
• FMI's analysis projects the sales of GaN
  micro-LED to ramp up at an impressive CAGR of
  43.5 during the period, 2019-2029, as the
  technology promises to offer better and brighter
  displays as well as lighting than the current
  solutions.

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GaN Micro-LED Market Analysis

• Sensing the application potential of GaN
  micro-LED in newer models of TVs, smartwatches,
  AR devices, and head-mounted systems such as
  Google Glass, stakeholders are making rigorous
  investments in RD and deepening their
  collaborations with technology solution
  providers.
• Mid Power Micro-LEDs for Lighting Applications to
  Capture Robust Share
• As indicated by the study, the consumption of
  mid-power GaN micro-LEDs, which accounted for
  75 share in 2018, will become a mainstream for
  lighting applications in the years ahead.
  However, significantly large percentage of the
  cost of mid power micro-LEDs goes to packaging,
  thereby limiting the advantage of lowering its
  overall costs. On the hand, demand for low power
  micro-LEDs is likely to garner significant
  traction in the future, in the view of
  maintaining full brightness without the loss of
  noticeable display brightness over the entire
  illumination time.
• Greater demand for GaN micro-LED displays will
  continue to influence the growth strategies,
  accounting for 79 share in 2018. As identified
  by the FMI analyst, gains will remain driven by
  growing demand for visual aspects in modern-day
  devices, increasing need for high luminance in
  small format for near-to-eye display devices, and
  the demand for high resolution and efficient
  luminance in battery-powered consumer
  electronics.
• Market Gains Underpinned by Greater Innovations
  in Sports Entertainment Space

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GaN Micro-LED Market Analysis

• In recent years, high application potential of
  GaN micro-LEDs has been identified sports
  entertainment space, on the account of a spike in
  number of video-streaming services, rapid
  innovation in television to enhance the viewing
  experience, and increased penetration of
  new-generation video-gaming products and
  accessories, says the report.
• While consumer electronics are likely to account
  for major share of the manufacturers' bottom
  lines, capitalizing on ever-expanding sports
  entertainment space will remain a key focus area
  of the market players. On the one hand,
  consumption of GaN micro-LEDs by the automotive
  industry will increase 39 y-o-y in 2019, backed
  by the emergence of 'in-car ambience' and
  'auto-infotainment' trends leading to innovations
  in automotive displays units as well as interior
  automotive lighting.
• North America in the Vanguard, APEJ to Outdo
  European Market
• Accounting for 26 share in 2018, North America
  is anticipated to remain at the forefront of GaN
  micro-LED market. According to the study,
  European market is likely to lose its second
  position to Asia Pacific in the foreseeable
  future, as many players in the latter region are
  constantly demonstrating their progress and
  latest breakthroughs in the GaN micro-LED
  technology.
• Unprecedented evolution in number of industry
  verticals has pushed stakeholders to redefine
  their growth strategies to retain and attract new
  segment of customers. In addition to focusing
  entirely on the new technology while ceasing the
  launch of conventional solutions, stakeholders
  are centered on collaborating with research
  institutes to synchronize their advances.

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GaN Micro-LED Market Analysis

• Press-Release Source - https//www.prnewswire.com/
  news-releases/gan-micro-led-market-will-be-increas
  ing-at-a-cagr-of-43-during-the-period-of-forecast-
  for-2019-to-2029--future-market-insights-300907478
  .html
• More Related Press-Release -
• Oracle Services Market is Expected to Grow at a
  CAGR of 15.2 During the Forecast Period of 2019
  to 2029
• Salesforce Services Market is Expected to Grow at
  a CAGR of Approximately 14 During the Forecast
  Period of 2019 to 2029
• Mobile CRM Market is Expected to Grow at an
  Approximate CAGR of 13 Over 2019 to 2029
• About Us
• Future Market Insights (FMI) is a leading market
  intelligence and consulting firm. We deliver
  syndicated research reports, custom research
  reports and consulting services which are
  personalized in nature. FMI delivers a complete
  packaged solution, which combines current market
  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.

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GaN Micro-LED Market Analysis

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