The Latin America, Middle East and Africa Micro-LED Market would witness market growth of 81.3% CAGR during the forecast period (2021-2027).
The market players across the micro-LED industry have to tackle various cutting-edge technologies such as OLED and LCD displays. The competition across the industry would also encourage the market players to focus on innovating and developing various new and advanced technologies, which would significantly benefit the micro-LED market over the forecast period.
Moreover, micro-LEDs are the latest type of display. Importantly, micro LEDs are a far brighter source than OLEDs, which can only give roughly 1000 Nits (cd/m2) for the same amount of power consumption, but micro LEDs can deliver hundreds of thousands of Nits for the same amount of power consumption. Additionally, as GaN-based LED technology matures, the focus of many research organizations has switched to the fabrication of higher-power, higher-efficiency LEDs, boosting demand for tiny LEDs due to their characteristics.
The Gulf Cooperation Council countries are taking measures towards implementing overall energy-efficiency norms and further expanding LED lighting technology and solutions. Progress in R&D is expected to result in significant solution and product innovations, which would improve the quality as well as efficiency of LED lamps, due to which, the adoption of LED lamps would expedite.
The LED lighting sector across the United Arab Emirates is being driven by the rising infrastructural developments in the commercial, retail, and industrial sector. LED lights do not release any greenhouse gases like carbon dioxide, methane, nitrous oxide, and chlorofluorocarbons, due to which, they are observing a surge in the demand in the ongoing and impending green-building projects around the country.
The Brazil market dominated the LAMEA Micro-LED Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $373.5 million by 2027. The Argentina market is poised to grow at a CAGR of 82.2% during (2021 - 2027). Additionally, The UAE market would display a CAGR of 80.8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Micro-LED Market is Predict to reach $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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