The North America Micro-LED Market is expected to witness market growth of 75.5% CAGR during the forecast period (2021-2027).
The consumer electronics sector is one of the world's fastest-growing industries, due to the quick development and increased accessibility of new technologies. Rapid technology advancements in order to meet clients’ requirements is expected to open up opportunities for various new market entrants. In addition, due to increasing per capita income, rapidly growing population, and Internet penetration, consumer electronics, such as laptops and smartphones, are increasingly becoming popular in both developed and developing countries. Moreover, due to ongoing crucial technological advancements, the prevalence of these devices has increased in several economies. As a result, the utilization of micro-LED lights is increasing across the region.
LED lighting sales are increasing in North America owing to advancements in LED technology and constant innovations. Because LED technology regulates a diverse spectrum of light in accordance with many stages of plant growth, it has reduced energy waste in horticulture. Moreover, the introduction of smart light filling technologies is expected to offer new business opportunities. For instance, Signify Holding released the GreenPower LED interlighting Gen 3 technology for efficient crop development. Such developments is expected to bring more opportunities for the growth of the regional market.
The increase in the development and investments in the real estate infrastructure in Vancouver and Toronto can be attributed to the region's growth. Additionally, the Government of Canada has enacted regulations requiring the registration of energy-labeled products.
The US market dominated the North America Micro-LED Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $4,104.5 million by 2027. The Canada market is exhibiting a CAGR of 79.5% during (2021 - 2027). Additionally, The Mexico market is expected to experience a CAGR of 78% during (2021 - 2027).
Based on Application, the market is segmented into Display and Lighting. Based on Display Type, the market is segmented into Smartphones & Tablets, Smartwatch, Television, Near-to-Eye Devices, Head-up-displays, Digital Signage, and Others. Based on Lighting Type, the market is segmented into General Lighting and Automotive Lighting. Based on Panel Size, the market is segmented into Small & Medium-sized Panel, Large Panels and Micro Display. Based on Vertical, the market is segmented into Consumer Electronics, Advertising, Automotive, Aerospace & Defense and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Apple, Inc., Ostendo Technologies, Inc., Lumens.com, Konka Group Co., Ltd., Tianma Microelectronics Co., Ltd., X-Celeprint Limited (Xtrion N.V.), Nanosys, Inc., and Visionox Technology, Inc.
By Application
By Display Type
By Lighting Type
By Panel Size
By Vertical
By Country: US, Canada, Mexico, and Rest of North America.
The consumer electronics sector is one of the world's fastest-growing industries, due to the quick development and increased accessibility of new technologies. Rapid technology advancements in order to meet clients’ requirements is expected to open up opportunities for various new market entrants. In addition, due to increasing per capita income, rapidly growing population, and Internet penetration, consumer electronics, such as laptops and smartphones, are increasingly becoming popular in both developed and developing countries. Moreover, due to ongoing crucial technological advancements, the prevalence of these devices has increased in several economies. As a result, the utilization of micro-LED lights is increasing across the region.
LED lighting sales are increasing in North America owing to advancements in LED technology and constant innovations. Because LED technology regulates a diverse spectrum of light in accordance with many stages of plant growth, it has reduced energy waste in horticulture. Moreover, the introduction of smart light filling technologies is expected to offer new business opportunities. For instance, Signify Holding released the GreenPower LED interlighting Gen 3 technology for efficient crop development. Such developments is expected to bring more opportunities for the growth of the regional market.
The increase in the development and investments in the real estate infrastructure in Vancouver and Toronto can be attributed to the region's growth. Additionally, the Government of Canada has enacted regulations requiring the registration of energy-labeled products.
The US market dominated the North America Micro-LED Market by Country 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $4,104.5 million by 2027. The Canada market is exhibiting a CAGR of 79.5% during (2021 - 2027). Additionally, The Mexico market is expected to experience a CAGR of 78% during (2021 - 2027).
Based on Application, the market is segmented into Display and Lighting. Based on Display Type, the market is segmented into Smartphones & Tablets, Smartwatch, Television, Near-to-Eye Devices, Head-up-displays, Digital Signage, and Others. Based on Lighting Type, the market is segmented into General Lighting and Automotive Lighting. Based on Panel Size, the market is segmented into Small & Medium-sized Panel, Large Panels and Micro Display. Based on Vertical, the market is segmented into Consumer Electronics, Advertising, Automotive, Aerospace & Defense and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), Sony Corporation, Apple, Inc., Ostendo Technologies, Inc., Lumens.com, Konka Group Co., Ltd., Tianma Microelectronics Co., Ltd., X-Celeprint Limited (Xtrion N.V.), Nanosys, Inc., and Visionox Technology, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Display and
- Lighting
By Display Type
- Smartphones & Tablets
- Smartwatch
- Television
- Near-to-Eye Devices
- Head-up-displays
- Digital Signage, and
- Others
By Lighting Type
- General Lighting and
- Automotive Lighting
By Panel Size
- Small & Medium-sized Panel
- Large Panels
- Micro Display
By Vertical
- Consumer Electronics
- Advertising
- Automotive
- Aerospace & Defense
- Others
By Country: US, Canada, Mexico, and Rest of North America.
Key Market Players
List of Companies Profiled in the Report:
- Samsung Electronics Co., Ltd. (Samsung Group)
- Sony Corporation
- Apple, Inc.
- Ostendo Technologies, Inc.
- Lumens.com
- Konka Group Co., Ltd.
- Tianma Microelectronics Co., Ltd.
- X-Celeprint Limited (Xtrion N.V.)
- Nanosys, Inc.
- Visionox Technology, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. North America Micro-LED Market by Application
Chapter 4. North America Micro-LED Market by Panel Size
Chapter 5. North America Micro-LED Market by Vertical
Chapter 6. North America Micro-LED Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Samsung Electronics Co., Ltd. (Samsung Group)
- Sony Corporation
- Apple, Inc.
- Ostendo Technologies, Inc.
- Lumens.com
- Konka Group Co., Ltd.
- Tianma Microelectronics Co., Ltd.
- X-Celeprint Limited (Xtrion N.V.)
- Nanosys, Inc.
- Visionox Technology, Inc.
Methodology
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