PORTLAND, Oregon and PUNE, India, June 13, 2018 /PRNewswire/ --
According to a recent report published by Allied Market Research, titled, "Micro LED Display Market by Product, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global micro-LED display market was valued at $22.9 million in 2018, and is projected to reach at $1,945.6 million by 2025, growing at a CAGR of 89.2% from 2018 to 2025.
At present, Asia-Pacific dominates the global micro-LED display market. In 2018, China is expected to register the highest growth rate in the Asia-Pacific market. However, Germany is expected to lead the overall market in Europe in 2018. In the same year, the U.S. is estimated to dominate the North American market.
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The global micro-LED display market is projected to register significant growth during the forecast period, due to rise in demand for bright & power-efficient display panels and increase in preference of electronic giants towards micro-LED displays. However, high cost of micro-LED display is expected to restrain the growth of the market.
In 2018, based on product, the large-scale display segment is anticipated to dominate the global micro-LED display market, in terms of revenue. However, based on industry vertical, consumer electronics is projected to lead the global market in the same year.
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KEY FINDINGS OF THE STUDY
- On the basis of product type large-scale display is expected to generate the highest revenue in 2018.
- In 2018, the consumer electronics on the basis of industry vertical segment is projected to account the highest revenue in the micro-LED display market.
- LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
The key players profiled in the report include Apple Inc., Samsung, Sony Corporation, Oculus, VueReal, LG Display, Play Nitride, eLUX, Rohinni LLC, and Aledia.
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SOURCE Allied Market Research