The North America Micro-LED Market would 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 would 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 would 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 would 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 would 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.
Free Valuable Insights: The Global Micro-LED Market is Estimated to reach $19.8 Billion by 2027, at a CAGR of 76.6%
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
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