Reports
Global Micro Light-Emitting Diode (Led) Market Size, Growth: Display, Lighting; By Application: Smartphone and Tablet, PC and Laptop, TV, Smartwatch, Others; By Sector: Commercial, Residential, Industrial; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032
Global Micro Light-Emitting Diode (LED) Market Outlook
The global micro light-emitting diode (LED) market attained a value of about USD 2984.42 million in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of nearly 85% to reach a value of approximately USD 119744.72 million by 2032.
The market is being driven by the rising demand for smartwatches and smartphones. The Asia Pacific region is dominating the global market.
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Market Segmentation
A micro light-emitting diode (LED) refers to a technology that is used in displays of microscopic light-emitting various colour diodes organised into a set. These LEDs are also referred to as micro-LED, mLED, or μLED. A micro light-emitting diode (LED) is a technology of emissive display where the photographic components, also called pixels, are the light source. It means that emissive display systems do not need a separate backlight plate so that the displays are thinner than LCDs.
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The types of micro light-emitting diode (LED) can be divided into:
- Display
- Lighting
The display can be further categorised based on its applications into:
- Smartphone and Tablet
- PC and laptop
- TV
- Smartwatch
- Others
The sectors can be divided into the following:
- Commercial
- Residential
- Industrial
The EMR report looks into the regional markets of micro light-emitting diode (LED) like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Market Analysis
The introduction of micro LEDs into TVs is a major factor driving the development of the global micro light-emitting diode (LED). Various TV companies have begun to develop micro LED TV prototypes that offer increased brightness as well as an incredibly wide range of HDR colours. Such LEDs are supposed to last longer than OLED panels because no natural deterioration is involved. The adoption of micro LEDs for TVs is expected to increase these benefits.
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Competitive Landscape
The report presents a detailed analysis of the following key players in the global micro light-emitting diode (LED) market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- LG Electronics Inc. (KRX: 066570)
- Playnitride Inc.
- Plessey Semiconductors Ltd.
- Samsung Electronics Co., Ltd. (KRX: 005930)
- VueReal Inc.
- Sony Corporation (NYSE: SNE)
- Others
The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report:
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Application, Sector, Region |
| Breakup by Type | Display, Lighting |
| Breakup by Application | Smartphone and Tablet, PC and Laptop, TV, Smartwatch, Others |
| Breakup by Sector | Commercial, Residential, Industrial |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | LG Electronics Inc. (KRX: 066570), Playnitride Inc., Plessey Semiconductors Ltd., Samsung Electronics Co., Ltd. (KRX: 005930), VueReal Inc., Sony Corporation (NYSE: SNE), Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Micro Light-Emitting Diode (LED) Market Analysis
8.1 Key Industry Highlights
8.2 Global Micro Light-Emitting Diode (LED) Historical Market (2018-2023)
8.3 Global Micro Light-Emitting Diode (LED) Market Forecast (2024-2032)
8.4 Global Micro Light-Emitting Diode (LED) Market by Type
8.4.1 Display
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Lighting
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Micro Light-Emitting Diode (LED) Market by Application
8.5.1 Smartphone and Tablet
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 PC and Laptop
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 TV
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Smartwatch
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Micro Light-Emitting Diode (LED) Market by Sector
8.6.1 Commercial
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Residential
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Industrial
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global Micro Light-Emitting Diode (LED) Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Micro Light-Emitting Diode (LED) Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Micro Light-Emitting Diode (LED) Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Micro Light-Emitting Diode (LED) Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Micro Light-Emitting Diode (LED) Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Micro Light-Emitting Diode (LED) Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 LG Electronics Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Playnitride Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Plessey Semiconductors Ltd.
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Samsung Electronics Co., Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 VueReal Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Sony Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Micro Light-Emitting Diode (LED) Market: Key Industry Highlights, 2018 and 2032
2. Global Micro Light-Emitting Diode (LED) Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Micro Light-Emitting Diode (LED) Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Micro Light-Emitting Diode (LED) Historical Market: Breakup by Sector (USD Million), 2018-2023
7. Global Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Sector (USD Million), 2024-2032
8. Global Micro Light-Emitting Diode (LED) Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Micro Light-Emitting Diode (LED) Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Micro Light-Emitting Diode (LED) Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Micro Light-Emitting Diode (LED) Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Micro Light-Emitting Diode (LED) Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Micro Light-Emitting Diode (LED) Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Micro Light-Emitting Diode (LED) Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Micro Light-Emitting Diode (LED) Market Structure
Key Questions Answered in the Report
In 2023, the global micro light-emitting diode (LED) market attained a value of nearly 2984.42 million.
The market is projected to grow at a CAGR of 85% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 119744.72 million by 2032.
The major drivers of the market include the rising demand for smartwatches and smartphones, rising disposable incomes, the growing adoption of micro-LEDs for TVs, and rapid technological advancements.
The key trend guiding the market growth includes the development of GaN-on-Si technology.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Display and lighting are the leading types of the product in the market.
Smartphone and tablet, PC and laptop, TV, and smartwatch, among others, are the significant applications of the product.
Commercial, residential, and industrial are the major sectors of the product in the market.
The major players in the market are LG Electronics Inc., Playnitride Inc., Plessey Semiconductors Ltd., Samsung Electronics Co., Ltd., VueReal Inc., and Sony Corporation, among others.
Analyst Review
The global micro light-emitting diode (LED) market attained a value of USD 2984.42 million in 2023, driven by the rising demand for smartwatches and smartphones. Aided by the development of GaN-on-Si technology, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 85%. The micro light-emitting diode (LED) industry is projected to reach USD 119744.72 million by 2032.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the micro light-emitting diode (LED) industry can be segmented into display and lighting. On the basis of application, the industry is divided into smartphone and tablet, PC and laptop, TV, smartwatch, and others. On the basis of sectors, the industry is segregated into commercial, residential, and industrial. The major regional markets for micro light-emitting diode (LED) are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with the Asia Pacific accounting for the largest share of the market. The key players in the above market include LG Electronics Inc., Playnitride Inc., Plessey Semiconductors Ltd., Samsung Electronics Co., Ltd., VueReal Inc., and Sony Corporation, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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