Micro-LED technology, portable devices, lighting technology are some of the examples of the technology revolution which has changed the scenario worldwide. Not so long ago there were only two displays present in a typical household: television and computer monitor. Portable device technology is changing the traditional scenario by introducing smart phones, laptop, monitor etc. Despite today’s universality of portable digital technology, the development is still at emerging phase. Various appliances which are getting used daily are becoming smart and more convenient. As the communication with these smart appliance increases, need for displays which can present data more effectively is also increasing. These displays include variety of information in smallest of spaces. Demands for Micro-LED displays are increasing. The Micro-LED technology can be used effectively in consumer electronics especially in portable devices. Besides of lighting application, Micro-LED displays can work as an independent display of content in natural colors. Important attribute to consider about the Micro-LED display is low power consumption. As Micro-LED technology works on a self-emitting technology it does not require additional back light or any other input. This directs towards the lower energy consumption. Other important benefits of Micro-LED technology are durable, less screen burn, longer lifespan, more brightness, high contrast etc.
According to the research report “Europe Micro-LED Market Outlook, 2027" published by Bonafide Research, Micro-LED market is anticipated to register higher growth with 82.11% CAGR over the forecast period. Penetration of consumer electronic devices and higher adoption of technological advancements are some of the driving factor for prominent growth of this region. Europe Micro-LED market is segmented into six major countries which are Germany, United Kingdom, France, Italy, Spain and Russia. On the basis of countries, Germany is projected to register higher market share in overall Micro-LED market growth. Increasing demands for brighter and more power efficient display panels for various applications are expected to propel the Micro-LED market growth in Europe region. In Europe, many industries and developers are undertaking the research missions for the improvements of Micro-LED technology. They are focusing to produce the cost-effective manufacturing methods which can make technology easy to adopt for population.
Europe Micro-LED technology presents various applications of the developments which includes television, smart phones, smart watches, head-up displays, near-to-eye devices (AR & VR), digital signage etc. Penetration of smart phones has targeted a large number of populations to adopt the new technologies. Near-to-eye devices such as Virtual reality (VR) and augmented reality (AR) contributes for more than 25% of market share. Micro-LED technology has major three size options available for various purposes. Micro panel and small & medium panel are impacting the market growth with progressive amount. Major end users for Micro-LED technology can include consumer electronics, automotive, aerospace & defense etc. Automotive sector is participating with prominent market share for Micro-LED technology. By introducing head-up displays, lighting options and sensors for automotive sector, Europe Micro-LED market is projected to have progressing growth. At present, lack of established supply chain and distributed patent structure are restraining the growth of the Micro-LED market in Europe region. To overcome this situation, many industries are focusing on investing and proposing various supply chain structure to make Micro-LED technology more effective and adaptable.
Impact of Covid-19 on Europe Micro-LED market:
The Covid-19 pandemic has put the entire Europe region on a standstill, affecting major operations leading an industrial catastrophe. This pandemic led the Europe Micro-LED market to major serge. Outbreak of Covid-19 was widespread, which led to a significant impact on production and supply chain of the Micro-LED technology. Due to lockdown situation and ‘social distancing’ norms, many industries and manufactures were at halt. Though this was a temporary situation and by the end of 2021, many countries present in the region initiated their progress and became much more efficient for the Micro-LED technology.
Major Companies present in the market:
LuxVue Technology (Apple Inc.), Oculus VR Inc. (Meta Inc.) , Sony Corporation , Samsung Electronics Co., Limited , LG Display Co. Limited ,Innolux Corporation, Epistar Corporation, Ostendo Technologies, Inc, JBD Inc., Rohinni LLC , Optovate Limited, Aledia SA, Plessey Semiconductors Limited , VueReal Inc., ALLOS Semiconductors GmbH.
Considered in this report
• Geography: Europe
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Europe Micro-LED market with its value and forecast along with its segments
• Country-wise Micro-market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions covered in the report
• United Kingdom
By Panel Size in the report:
• Micro Display
• Small & Medium-sized
• Large Panel
By Application in the report:
• Smart watch
• Near-to-eye Devices (AR and VR)
• Smartphone and Tablet
• Monitor and Laptop
• Head-up Display
• Digital Signage
By End User in the report:
• Consumer Electronics
• Aerospace and Defense
• Other End Users
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Micro-led& LED industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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