Allied Market Research reports that the global micro-LED display market will be valued at $22.9 million in 2018. The research firm projects that the micro-LED market will reach $1,945.6 million by 2025. This increase translates to an impressive CAGR of 89.2% from 2018 to 2025. The key players in the market include Apple Inc., Samsung, Sony Corporation, LG Display, Oculus, Play Nitride, VueReal, eLUX, Rohinni LLC, and Aledia.
Allied Market Research asserts that currently, the Asia-Pacific region dominates the global micro-LED display market. In 2018, the firm expects that China will post the highest growth rate within the Asia-Pacific market. However, Germany forecast to lead the overall market demand in Europe in 2018. Also during 2018, the firm predicts that the U.S. will drive the North American market.
Desire for Bright, and Power-Efficient Displays to Fuel Demand Increase, According to Allied Market Research
The company predicts that the significant growth in the global micro-LED display market will be the result of the increasing demand for bright & power-efficient display panels and the growing preference of electronic giants towards micro-LED displays. However, the firm anticipates that the high cost of micro-LED displays will restrict the growth of the market.
In 2018, Allied Market Research predicts that the large-scale display segment will hold the largest market share of global micro-LED display market, in revenue. However, among vertically integrated industrial segment, consumer electronics will lead the global market in revenue in 2018.