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Global Micro Light-Emitting Diode (LED) Market 2019-2023 | 389% CAGR Projection Over the Next Five Years | Technavio

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The global micro light-emitting diode (LED) market is expected to post a CAGR of more than 389% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has announced its latest market research report titled global micro light-emitting diode (LED) market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global micro light-emitting diode (LED) market 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the global micro light-emitting diode (LED) market size is the integration of micro LED in TVs. Several TV manufacturers have started developing TV prototypes of micro LED that offer greater brightness and an incredible wide HDR color palette. These LEDs are anticipated to have a longer lifespan than OLED panels as there is no involvement of natural degradation. Such advantages are expected to increase the adoption of micro LEDs for TVs.

As per Technavio, the development of GaN-on-Si technology will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global micro light-emitting diode (LED) market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global Micro Light-Emitting Diode (LED) Market: Development of GaN-on-Si technology

The increasing market traction for micro LED is encouraging vendors to shift to gallium nitride-on-silicon (GaN-on-Si) technology for the production of micro LED. This technology helps achieve a larger wafer size, which is beneficial for micro LEDs because of the use of transfer stamps that allow maximum wafer surface area utilization and ensure cost savings. Thus, the development of GaN-on-Si technology is expected to be one of the key micro LED market trends during the forecast period.

“Apart from the development of GaN-on-Si technology, other factors such as the rapid technological advances, and the increasing number of strategic partnerships and collaborations will have a significant impact on the micro light-emitting diode (LED) market growth during the forecast period,” says a senior analyst at Technavio.

Global Micro Light-Emitting Diode (LED) Market: Segmentation Analysis

This market research report segments the global micro LED market size by product (display and lighting) and geographic regions (APAC, the Americas, and EMEA).

The APAC region led the micro light-emitting diode (LED) market in 2018, followed by the Americas, and EMEA respectively. The micro light-emitting diode (LED) market report identifies the factors such as the growing demand for TVs and large screen displays, and the increasing investments to improve production capacity to fuel the growth of the market in South America during the forecast period.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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