Micro-LED Market Growth Accelerated By Increasing Demand For Energy Efficient Devices

 

MICRO-LED MARKET
Micro-Led Market


Micro-LEDs are energy efficient displays that have exceptional brightness, high contrast ratios, and improved energy efficiency. Micro-LEDs deliver self-emitting inorganic LEDs with high resolution and pixel densities. They eliminate the need for backlights and provide precise control of individual LEDs to produce truly vibrant colors. Enhanced display quality, ambient light rejections, wide viewing angles, and ability to create transparent displays are the key advantages of Micro-LED displays.

The global Micro-Led Market is estimated to be valued at US$ 314.67 Mn in 2024 and is expected to exhibit a CAGR Of 6.6% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:


The increasing demand for energy efficient displays from various end-use industries such as consumer electronics, automotive, and advertisement is a key trend fueling the growth of the micro-LED market. Micro-LED displays consume significantly less power as compared to traditional display technologies and provide over a million active light sources on a single chip. Also, their self-emitting nature means micro-LED screens can be made as thin as an OLED display while delivering higher resolutions with greater brightness. With advancements in micro-LED technology, the market is expected to witness mass adoption in smartwatches, AR/VR devices, and large format direct-view LED displays over the forecast period.

Segment Analysis

The global micro-LED market is segmented by type, application and geography. By type, the market is divided into display and lighting. Among these, the display segment accounted for the largest market share in 2021. This is mainly because micro-LED displays deliver benefits like improved contrast ratios, response times and pixel densities compared to traditional displays. By application, the micro-LED market is bifurcated into consumer electronics, automotive, commercial, aerospace & defense and others. Among them, consumer electronics dominated in 2021 on account of wide use of micro-LEDs in smartphones, televisions and smartwatches.

Key Takeaways


The Global Micro-LED Market Demand  is expected to witness high growth over the forecast period.

Regional analysis shows that Asia Pacific currently holds the largest share and is expected to retain dominance through 2031. This is owing to presence of major electronics manufacturers in countries like China, Taiwan and South Korea.

Key players operating in the micro-LED market are Samsung Electronics, Apple Inc., Sony Corporation, X-Celeprint Limited, Ostendo Technologies Inc, Oculus VR (Infiniled Ltd.), Rohinni LLC, PlayNitride Inc., Epistar Corporation and Micro LED-Commissariat à l'énergie atomique et aux énergies alternatives (CEA).

Get more insights on this topic :


Check more trending articles on this topic: 

https://techaxen.com/beyond-batteries-navigating-the-landscape-of-stationary-energy-storage-technologies/

Comments

Post a Comment

Popular posts from this blog

The Global Ebola Vaccine Market Is Estimated To Grow At Highest Pace Owing To Rising Ebola Cases

Image
  Ebola Vaccine Market   Ebola vaccines help in preventing Ebola virus disease which is a severe, often fatal illness in humans. The virus is transmitted to people from wild animals and spreads in the human population through human-to-human transmission. Ebola vaccines provide protection by training the immune system to recognize and fight the Ebola virus. The need for Ebola vaccines has been increased recently owing to rising cases of Ebola outbreaks across Africa. The global  Ebola Vaccine Market  is estimated to be valued at  Us$ 6.72 Bn  in 2024 and is expected to exhibit a  CAGR Of 9.4%  over the forecast period  2024 To 2030 . Key Takeaways Key players operating in the  Ebola Vaccine Market   are 10x Genomics, Akoya Bioscience Inc., Biognosys AG, BioSpyder Technologies, Bio-Techne, Bruker, Brooks Automation Inc., Danaher Corporation, Diagenode. Key players are focused on developing improved and more effective Ebola vaccines to...
Read more

Aseptic Processing Market Is Estimated To Witness High Growth Owing To Increasing Demand For Sterile Products

Image
  Aseptic Processing Market The global Aseptic Processing Market is estimated to be valued at US$ 85 Billion in 2022 and is expected to exhibit a CAGR Of 9.2% over the forecast period 2023-2030 , as highlighted in a new report published by Coherent Market Insights. Market Overview: Aseptic processing involves the sterilization of products and packaging materials to eliminate the risk of contamination. It is widely used in the healthcare industry for the production of sterile pharmaceuticals, vaccines, and medical devices. The advantages of aseptic processing include extended shelf life, preservation of nutritional value, and maintenance of the overall quality and integrity of the products. With the increasing demand for safe and effective healthcare products, the need for aseptic processing is also growing. Market Key Trends: One key trend driving the aseptic processing market is the rising demand for sterile products. The healthcare industry, particularly pharmaceutical a...
Read more

Growing Demand Accelerated By Enhanced Customer Support. Chatbots Are Intelligent Artificial Assistant Designed To Have Natural Conversations To Provide Support To Customer

Image
Chatbot Market Chatbots can be used by any organization across different sector to provide 24/7 customer assistance, improve customer satisfaction and reduce operational cost. The global  Chatbot Market  is estimated to be valued at  Us$ 6.04 Billion  in 2024 and is expected to exhibit a  CAGR Of 6.3%  over the forecast period  2023 To 2030 , as highlighted in a new report published by Coherent Market Insights. Market key trends: Customer demand for engaging digital customer support services has been a key factor driving the growth of chatbot market. Chatbots are AI powered solution that offers 24/7 support to customers through messaging platform. They can understand customer queries, respond instantly and provide solution for common issues without any wait time. This has enabled organizations to enhance customer satisfaction levels and retain existing customers by offering immediate support. Chatbots also learn from past customer interactions which he...
Read more