North America Micro-LED Market - Industry Size, Opportunity, Growth, Demand, & Forecast To 2027

Micro-LED is basically a technology which is used in displays consisting of microscopic LEDs (light emitting diodes) arranged into an array type structure of different colors. Micro-LED technology is expected to be a leading technology for the forecast period. It is also known as mLED or µLED. Comparing Micro-LED technology with organic LED or QLED, this technology is much more efficient and durable. In Micro-LED structure, microscopic LEDs form individual pixel elements. Pixel is considered as a unit to measure picture quality or resolution quality for any type of LEDs. Micro-LED display technology offers many benefits over OLED or LCD which includes high level of brightness, energy efficiency, increased eye comfort, pixel protection etc. Micro-LED is an emissive display technology where pixels or picture elements are also works as light source. So this technology does not require separate backlight layer and that directs technology towards thinner displays. Micro-LED is a self-emitting technology that means consumption of less power. According to the research report “North America Micro-LED Market Outlook, 2027" published by Actual Market Research, the Micro-LED market is projected to grow at a CAGR of 77.04% by the forecast period. Increasing penetration of consumer electronics in North America is expected to drive the Micro-LED market growth. North America Micro-LED market is segmented into three major countries which are United States, Canada and Mexico. United States is forecasted to have maximum market share in North America region. Increasing demands of higher quality displays, augmented reality (AR), virtual reality (VR) and head-up displays are pushing the adoption of Micro-LEDs in United States. Micro-LED displays provide attractive and high specification quality compared to any other LED technology. These attributes are accounted for fuelling the Micro-LED market growth as well as prominent market share in consumer electronics segment. The North America Micro-LED market is segmented based on the application in various fields which are display and lighting. Micro-LED lighting application is emerging technology in North America region. Based on the unique size of the Micro-LED display, there are mainly three types available which includes, micro panel, small & medium panel and large panel. Due to complex manufacturing methods, Micro-LED displays have higher cost compared to other LEDs. As for the mini LEDs or small LEDs, their manufacturing process is harder and lengthier than this which again restricts the market with high cost factor. Major applications for Micro-LED display in North America include television, near-to-eye devices, head-up displays, digital signage, laptop etc. For North America region, television, digital signage and near-to-eye devices accounts to have maximum market share for Micro-LED market. More than 60% market share is occupied with these applications. North America region is expected to acquire prominent market share in Micro-LED market due to high acceptance rate of the latest display and lighting technologies. Impact of Covid-19 on North America Micro-LED market: Due to Covid-19 pandemic, various industries and businesses have witnessed challenges related to the production as well as supply chain. The Micro-LED industry in North America was no exception. North America region is an important share of the raw materials for the Micro-LEDs. But the industry was significantly affected during the Covid-19 pandemic. The region was under severe clutches of the Covid-19 outbreak. The demand of Micro-LED technology is expected to remain low due to ongoing pandemic. It is expected that Micro-LED market in North America will peak up its pace by the second quarter of 2022. 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: North America • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • North America 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 States • Canada • Mexico By Panel Size in the report: • Micro Display • Small & Medium-sized • Large Panel By Application in the report: • Display • Smart watch • Near-to-eye Devices (AR and VR) • Television • Smartphone and Tablet • Monitor and Laptop • Head-up Display • Digital Signage • Others • Lighting By End User in the report: • Consumer Electronics • Automotive • 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, analysing 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. Intended audience 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.