The Europe Micro-LED Market would witness market growth of 75.9% CAGR during the forecast period (2021-2027).
Nowadays, micro-LEDs are being adopted over traditional LCOS and DLP technologies due to the desire for higher-quality HMDs and functionality upgrades to enable the ongoing development and commercialization of high-quality AR/VR solutions. InfiniLED, an Irish micro-LED business, was recently bought by Oculus, a virtual reality headgear maker owned by Facebook. Moreover, according to Intel, the AR/VR market's revenue potential remains robust. Such tendencies indicate that the market under consideration has a great development potential throughout the forecast period.
GaN micro-LED has greater tendencies to penetrate into the average household, leveraging customer demand for high-quality home entertainment options. Consumers are becoming accustomed to high-end home entertainment alternatives as a result of video-streaming services across many platforms, resulting in a desire for greater display with each invention. 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.
The European Union's legislative regulations prohibiting the sale of insufficient lighting technologies have been a major driver of LED product demand in Europe. In Europe, incandescent bulbs were discontinued in 2009. Directional halogen bulbs were discontinued in 2016. Similarly, the sale of non-directional halogen bulbs was prohibited in the region in September 2018. Consumers have been able to gradually replace old lighting items with LED technology-based goods thanks due to these policy actions. Moreover, moving to energy-efficient LED lights has given significant environmental benefits in addition to financial savings for consumers. The rise of the regional automobile and IT industries has boosted the European commercial and industrial sector. The region has also recovered from the 2008 financial crisis, with most afflicted industries experiencing consistent growth over time.
The Germany market dominated the Europe Micro-LED Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1,279.4 million by 2027. The UK market anticipated to grow at a CAGR of 74.5% during (2021 - 2027). Additionally, The France market would witness a CAGR of 77.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Micro-LED Market Size will Hit $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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