The growing of micro LED in various applications such as a smart watch, smartphone, and tablet, near to eye devices, television, a head-up display, and monitor and laptop are boosting the growth of the micro LED market during the forecast period. Micro LED display in smartwatches has major benefits includes requiring less power as compared to OLED display and much more energy efficient. They have brighter, high contract ratio and to tune colours to be more vibrant and richer and thinner. Micro LED display in a smartwatch is more slender, vitality proficient and more brilliant and has inorganic gallium nitride-based LED that has a life expectancy as compared to natural compound utilized in OLED panels.
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Micro LED is most considered as the Apple next step after OLED that is currently utilized for the iPhone and smartwatch. Micro LED has improved colour accuracy, faster response time, and true blacks and enhanced contrast ratio. In 2017, in Santa Clara, California, Apple is believed to have a secretive manufacturing plant for designing and producing display test samples through the use of Micro LED technology. The major companies including Samsung, Apple, and LG will be investing highly in R&D activities for the applications and commercialization of Micro LEDs for portable devices. In 2018, Sony Corp in Las Vegas had shown its development in Micro LED display technology with its large 8K Micro LED display. The presence of key vendors in the market is anticipated to grow the Micro LED market during the forecast period.
In February 2019, Samsung introduced wall-size TV which uses a technology known as Micro LED. It is a new version of the wall and first brand new display technology to be commercialized. Samsung was the first to launch a Micro LED in the market and LG is working on it. LG displays its first Micro LED TV at IFA in 2018 and that is based on the novel Micro LED display technology and announced that it’s Micro LED TV is larger than Samsung 146 Inch TV. LG Electronics are planning to introduced a new smartwatch with LG V40 ThinQ smartphone in the US is the growing opportunity of these devices in the Micro LED market during the forecast period.
Current Market Trends Covered in the Report
- The strategic development such as mergers & acquisitions, prototype development, R&D, joint ventures among the Micro LED market.
- North America is anticipated to hold the largest market share in the Micro LED market during the forecast period.
- Asia-Pacific is expected to be the fastest-growing region in the Micro LED market during the forecast period.
- The product launches and developments of key industry market players active in the Micro LED market.
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Global Micro LED Market Segmentation
By Application
Display
- Television
- Smartwatches
- Smartphone and Tablet
- Monitor and Laptop
- Near to Eye Devices
- Head-up Display
- Digital Signage
Lighting
- General lightning
- Automotive Lighting
By End-User
- Consumer Electronics
- Automotive
- Aerospace & Defence
- Others (Retail)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
