Micro LED Market Report 2022: Lower Power Consumption Drives Adoption – Yahoo Finance | Wonder Mind Kids

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DUBLIN, Nov. 18, 2022 (GLOBE NEWSWIRE) — The Micro LED Market – Forecasts from 2022 to 2027 report has been added ResearchAndMarkets.com Offer.

Micro-LED is an emerging display technology that aims to provide a flat panel display with a wide viewing angle, fast response time while reducing power consumption compared to existing technologies. Micro-LED offers better display and higher brightness than LCD and OLED and other existing technologies.

This is expected to increase its popularity and application in devices such as TVs, smart watches, tablets, laptops, PCs and others. Micro-LED consumes less power than other technologies, which is expected to further fuel demand. Also, as disposable income increases and people’s living standards change, the demand for digital products is expected to increase over the years. With better upgrading of devices like smartphones, laptops, smart watches, TVs, etc., the demand for technologies like micro-LED is in a favorable position.

One of the main barriers to this market is the high investment cost and high product price, which can not only hamper the entry of new companies in this field, but also hamper customer demand due to the high price associated with the product. Apart from that, the existing technologies are expected to serve as a significant competitor especially in terms of affordability for the market and impact on its growth.

growth factors

Demand for high display capabilities

With increasing development and urbanization around the world, factors such as disposable income and standard of living are being impacted. Over the years, trends indicate that there has been an increased demand for high-tech products to adapt to automation and technological advances while driving better outcomes for their businesses. Therefore, the ever-increasing demand and our growing reliance on digital products with high display performance, such as smartwatches, TVs, laptops, etc., along with better display results than LCDs and OLEDs, are expected to fuel the demand for micro-LEDs in the years to come.

Low power consumption thanks to micro LEDs

The biggest highlight of micro-LED products is that they consume less power than other existing technologies, which are expected to bring significant market share to this market in the years to come. This is due to the color filters and backlights of micro-LEDs, and as this developing technology advances, the number of polarizing filters it incorporates is expected to be halved, which can further reduce energy consumption.

North America is expected to hold a significant share

Based on geographic segmentation, Micro LED market is segmented into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Of these, North America is expected to expand due to various factors such as the large-scale adoption of technological advances in the region, people’s high disposable income, which increases the demand for expensive technology such as micro-LED, growing demand for smart watches, smartphones, etc. For example Apple Inc., an American company, shares its know-how in the field of micro-LED and may soon launch some products under this domain. In 2020, the company wanted to invest around $330 million in a Taiwanese factory to produce LED and micro-LED displays for future iPhones, iPads, MacBooks, and other devices. Apart from that, big working micro-LED technology companies such as VueReal etc. are already based here, giving the region a great advantage.

Apart from that, the APAC region is expected to grow the most due to increasing digital transformation accompanied by the presence of big players like Epistar Corporation, Sony Corporation, Samsung Electronics, etc. in the region.

Market segmentation:

By product type

  • Smartphones & Tablets

  • PCs & laptops

  • TV

  • smartwatch

  • Other

By Industry

  • consumer electronics

  • automobile

  • Government & Defense

  • Other

By display size

  • micro panel

  • Small and medium panel

  • Big slab

through application

According to geography

  • North America

  • United States of America

  • Canada

  • Mexico

  • South America

  • Brazil

  • Argentina

  • Other

  • Europe

  • United Kingdom

  • Germany

  • France

  • Other

  • Middle East and Africa

  • UAE

  • South Africa

  • Israel

  • Saudi Arabia

  • Other

  • Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Taiwan

  • South Korea

  • Other

Main topics covered:

1 INTRODUCTION

2. RESEARCH METHOD

3. SUMMARY

4. MARKET DYNAMICS

5. MICRO LED MARKET ANALYSIS BY PRODUCT TYPE

6. MICRO LED MARKET ANALYSIS BY INDUSTRY VERTICAL

7. MICRO LED MARKET ANALYSIS BY DISPLAY SIZE

8. MICRO LED MARKET ANALYSIS BY APPLICATION

9. MICRO LED MARKET ANALYSIS BY GEOGRAPHY

10. COMPETITIVE ENVIRONMENT AND ANALYSIS

11. COMPANY PROFILES

companies mentioned

For more information about this report, visit https://www.researchandmarkets.com/r/7xwyjg

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