Dublin, Sept. 06, 2024 (GLOBE NEWSWIRE) -- The "U.S. Micro LED Market Size, Share & Trends Analysis Report by Application (Display Lighting), Display Pixel Density (Less Than 3000ppi, 3000ppi to 5000ppi), End-use, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. micro LED market size is anticipated to reach USD 5.54 billion by 2030, growing at a CAGR of 76.7% from 2024 to 2030
The growing demand for micro LED displays, emerging semiconductor industry, and lucrative government support and initiatives drive the market. The U.S. government's Small Business Innovation Research (SBIR) program funds small businesses to develop innovative technologies, including micro LEDs.
The COVID-19 pandemic has significantly impacted the market, influencing various aspects of the industry, from production and supply chains to consumer demand and market dynamics. One of the primary effects of the pandemic on market was the disruption in manufacturing and supply chains, leading to delays in production, shortages of components, and logistical challenges. Restrictions on international trade, lockdown measures, and workforce limitations imposed to curb the spread of virus disrupted the flow of materials and components essential for micro LED production, affecting the overall supply chain and production timelines.
One of the primary drivers propelling the market growth is the increasing demand for micro LED displays across a wide range of applications such as smartphones, smartwatches, televisions, automotive displays, and wearable devices. Consumers are increasingly looking for devices with superior image quality, high brightness, energy efficiency, and vibrant colors, which are key features of micro LED technology. This rising demand for visually stunning displays is fueling the adoption of micro LEDs in consumer electronics and other industries, driving market growth and innovation.
In addition, the semiconductor industry's growth significantly drives the market forward. Micro LEDs are semiconductor-based light sources with advantages such as high-energy efficiency, long lifespan, fast response times, and small form factors. As the semiconductor industry continues to advance in manufacturing processes, materials innovation, and chip design, it enables the development of micro LEDs with higher pixel densities, improved performance, and cost-effective production methods. This synergy between the semiconductor industry and micro LED technology is driving advancements in display technology and expanding the market potential for micro LED applications.
U.S. Micro LED Market Report Highlights
- Based on application, the display segment accounted for the largest revenue share of 82.2% in 2023. It can be attributed to the proliferation of smart devices in various sectors. The lighting segment is expected to grow fastest, led by the increasing demand for energy-efficient lighting solutions
- Based on display pixel density, the segment greater than 5000ppi dominated the market in 2023 and is expected to grow at the fastest CAGR over the forecast period owing to the rising demand for crisp and high-quality displays
- Based on end-use, the healthcare segment is expected to grow at the fastest CAGR over the forecast period, owing to its advanced imaging capabilities and increasing demand for critical surgeries
Companies Featured
- eLux, Inc.
- Shoei Electronic Materials, Inc. (Nanosys)
- VerLase Technologies
- Alphabet, Inc.
- Lumiode
- Plessey Semiconductors
- VueReal
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.3. Research Methodology
1.4. Information Procurement
1.5. Research Scope and Assumptions
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. U.S. Micro LED Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. End-user Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Rising demand for high-quality displays
3.3.1.2. Increasing investments in research & development
3.3.2. Market Restraint Analysis
3.3.2.1. High manufacturing cost
3.3.3. Market Opportunity Analysis
3.3.3.1. Advent of augmented, virtual, and mixed reality technology
3.4. U.S. Micro LED Market Analysis Tools
3.4.1. End-user Analysis - Porter's
3.4.2. PESTEL Analysis
Chapter 4. U.S. Micro LED Market: Application Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. U.S. Micro LED Market: Device Movement Analysis, USD Million, 2023 & 2030
4.2.1. Display
4.2.1.1. Display market estimates and forecasts 2018-2030 (USD Million)
4.2.1.2. Television
4.2.1.3. AR & VR
4.2.1.4. Automotive
4.2.1.5. Smartwatch
4.2.1.6. Smartphone, Tablets, and Laptops
4.2.2. Lighting
4.2.2.1. Lighting market estimates and forecasts 2018-2030 (USD Million)
4.2.2.2. General lighting
4.2.2.3. Automotive lighting
Chapter 5. U.S. Micro LED Market: Display Pixel Density Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. U.S. Micro LED Market: Systems Movement Analysis, USD Million, 2023 & 2030
5.2.1. Less than 3000ppi
5.2.2. 3000ppi to 5000ppi
5.2.3. Greater than 5000ppi
Chapter 6. U.S. Micro LED Market: End-use Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. U.S. Micro LED Market: Industry Movement Analysis, USD Million, 2023 & 2030
6.2.1. Automotive
6.2.2. Consumer Electronics
6.2.3. Healthcare
6.2.4. BFSI
6.2.5. Aerospace & Defence
6.2.6. Others
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Company Market Positioning
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.5.1. Expansion
7.5.2. Mergers & acquisition
7.5.3. Partnerships & collaborations
7.5.4. New product launches
7.5.5. Research and development
7.6. Company Profiles
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Product benchmarking
7.6.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/sxrngo
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