The Asia Pacific Micro-LED Market would witness market growth of 77.4% CAGR during the forecast period (2021-2027).
Micro-LED displays are a category of displays in which each pixel is made up of a series of minuscule light-emitting diodes (LEDs). For fine pixel pitch displays, micro-LED displays offer high wavelength uniformity. In comparison to OLEDs and LCDs, it also has the advantages of lower power consumption, enhanced brightness, improved color saturation, ultrahigh definition picture quality, and a faster response time. Due to this, display panel makers such as LG, Innolux, Samsung, and AU Optronics are expected to benefit from the rising market for smart wearables. These companies are likely to incorporate with GaN micro-LED startups to invest in such applications.
Due to the rising demand for energy-efficient lighting systems in the residential sector, the LED lighting and accessories market in the Asia Pacific is likely to increase in the near future. The burgeoning construction market, together with increasing government investment in infrastructure initiatives like Smart Cities initiatives in various countries across the APAC region, will drive the LED lighting and fixture market to new heights.
Several government programs in the region aimed at increasing energy efficiency have aided the growth of the regional LED lighting industry significantly. Several government projects in India are underway to increase energy efficiency.
The China market dominated the Asia Pacific Micro-LED Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,074.8 million by 2027. The Japan market is estimated to grow at a CAGR of 76.2% during (2021 - 2027). Additionally, The India market would exhibit a CAGR of 78.6% during (2021 - 2027).
Based on Application, the market is segmented into Display and Lighting. Based on Display Type, the market is segmented into Smartphones & Tablets, Smartwatch, Television, Near-to-Eye Devices, Head-up-displays, Digital Signage, and Others. Based on Lighting Type, the market is segmented into General Lighting and Automotive Lighting. Based on Panel Size, the market is segmented into Small & Medium-sized Panel, Large Panels and Micro Display. Based on Vertical, the market is segmented into Consumer Electronics, Advertising, Automotive, Aerospace & Defense and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Micro-LED Market is Projected to reach USD 19.8 Billion by 2027, at a CAGR of 76.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Apple, Inc., Ostendo Technologies, Inc., Lumens.com, Konka Group Co., Ltd., Tianma Microelectronics Co., Ltd., X-Celeprint Limited (Xtrion N.V.), Nanosys, Inc., and Visionox Technology, Inc.
By Application
By Display Type
By Lighting Type
By Panel Size
By Vertical
By Country
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