High penetration of micro-LED technology-based products in the display panel market is expected to create great opportunity in this market. Micro-LED-based smart watches and near to eye (NTE) devices are expected to commercialize in coming years owing to the manufacturing capabilities and the involvement of leading players in this market. The global market for micro-LED display is estimated to grow at a significant rate during the forecast period from 2018 to 2023.
The market is segmented on the basis of application, panel type, vertical and region.
North America is dominating the market owing to the growing adoption of the latest display technologies in consumer electronics, retail, and education industries, especially in the US.
Asia-Pacific is expected to be the fastest growing region due to increasing penetration of smartphones in this region.
The prominent players in the micro-LED display market are Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), LG Electronics Inc. (South Korea) Sony Corporation (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others.
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The geographical analysis of micro-LED display market is done across North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to be the fastest growing region owing to the presence of major display panel and consumer-electronics manufacturers in this region, especially in the countries such as China, Japan and South Korea. Moreover, the increasing investments of multinational companies in developing their manufacturing facilities in the Asia-Pacific region driving the growth of this market.
Also, high demand of smart electronic devices from countries like India is further fueling the growth of this market.
North America followed by Europe is dominating the micro-LED display market. Increasing demand of micro-LED enabled wearables in the countries such US is fueling the growth of this market.