U.S. Micro LED Market Size, Share & Trends Analysis Report By Application (Display Lighting), By Display Pixel Density (Less Than 3000ppi, 3000ppi to 5000ppi), By End-use, And Segment Forecasts, 2024 - 2030
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U.S. Micro LED Market Growth & Trends
The U.S. micro LED market size is anticipated to reach USD 5.54 billion by 2030, growing at a CAGR of 76.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for micro LED displays, emerging semiconductor industry, and lucrative government support and initiatives drive the market. The U.S. government's Small Business Innovation Research (SBIR) program funds small businesses to develop innovative technologies, including micro LEDs.
The COVID-19 pandemic has significantly impacted the market, influencing various aspects of the industry, from production and supply chains to consumer demand and market dynamics. One of the primary effects of the pandemic on market was the disruption in manufacturing and supply chains, leading to delays in production, shortages of components, and logistical challenges. Restrictions on international trade, lockdown measures, and workforce limitations imposed to curb the spread of virus disrupted the flow of materials and components essential for micro LED production, affecting the overall supply chain and production timelines.
One of the primary drivers propelling the market growth is the increasing demand for micro LED displays across a wide range of applications such as smartphones, smartwatches, televisions, automotive displays, and wearable devices. Consumers are increasingly looking for devices with superior image quality, high brightness, energy efficiency, and vibrant colors, which are key features of micro LED technology. This rising demand for visually stunning displays is fueling the adoption of micro LEDs in consumer electronics and other industries, driving market growth and innovation.
In addition, the semiconductor industry's growth significantly drives the market forward. Micro LEDs are semiconductor-based light sources with advantages such as high-energy efficiency, long lifespan, fast response times, and small form factors. As the semiconductor industry continues to advance in manufacturing processes, materials innovation, and chip design, it enables the development of micro LEDs with higher pixel densities, improved performance, and cost-effective production methods. This synergy between the semiconductor industry and micro LED technology is driving advancements in display technology and expanding the market potential for micro LED applications.
U.S. Micro LED Market Report Highlights
U.S. Micro LED Market Growth & Trends
The U.S. micro LED market size is anticipated to reach USD 5.54 billion by 2030, growing at a CAGR of 76.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing demand for micro LED displays, emerging semiconductor industry, and lucrative government support and initiatives drive the market. The U.S. government's Small Business Innovation Research (SBIR) program funds small businesses to develop innovative technologies, including micro LEDs.
The COVID-19 pandemic has significantly impacted the market, influencing various aspects of the industry, from production and supply chains to consumer demand and market dynamics. One of the primary effects of the pandemic on market was the disruption in manufacturing and supply chains, leading to delays in production, shortages of components, and logistical challenges. Restrictions on international trade, lockdown measures, and workforce limitations imposed to curb the spread of virus disrupted the flow of materials and components essential for micro LED production, affecting the overall supply chain and production timelines.
One of the primary drivers propelling the market growth is the increasing demand for micro LED displays across a wide range of applications such as smartphones, smartwatches, televisions, automotive displays, and wearable devices. Consumers are increasingly looking for devices with superior image quality, high brightness, energy efficiency, and vibrant colors, which are key features of micro LED technology. This rising demand for visually stunning displays is fueling the adoption of micro LEDs in consumer electronics and other industries, driving market growth and innovation.
In addition, the semiconductor industry's growth significantly drives the market forward. Micro LEDs are semiconductor-based light sources with advantages such as high-energy efficiency, long lifespan, fast response times, and small form factors. As the semiconductor industry continues to advance in manufacturing processes, materials innovation, and chip design, it enables the development of micro LEDs with higher pixel densities, improved performance, and cost-effective production methods. This synergy between the semiconductor industry and micro LED technology is driving advancements in display technology and expanding the market potential for micro LED applications.
U.S. Micro LED Market Report Highlights
- Based on application, the display segment accounted for the largest revenue share of 82.2% in 2023. It can be attributed to the proliferation of smart devices in various sectors. The lighting segment is expected to grow fastest, led by the increasing demand for energy-efficient lighting solutions
- Based on display pixel density, the segment greater than 5000ppi dominated the market in 2023 and is expected to grow at the fastest CAGR over the forecast period owing to the rising demand for crisp and high-quality displays
- Based on end-use, the healthcare segment is expected to grow at the fastest CAGR over the forecast period, owing to its advanced imaging capabilities and increasing demand for critical surgeries
- In May 2021, Nanosys announced the acquisition of gl?, a micro LED display technology provider. This acquisition assisted Nanosys in expanding its capabilities, accelerating the development of micro-LED and nano-LED display technology, and expanding the company’s intellectual property portfolio
CHAPTER 1. METHODOLOGY AND SCOPE
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Application
1.2.2. Display Pixel Density
1.2.3. End-use
1.2.4. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Information Procurement
1.4.2. Information or Data Analysis
1.4.3. Market Formulation & Data Visualization
1.4.4. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.5.1. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Application Outlook
2.2.2. Display Pixel Density Outlook
2.2.3. End-use Outlook
2.3. Competitive Insights
CHAPTER 3. U.S. MICRO LED MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. End-user Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Rising demand for high-quality displays
3.3.1.2. Increasing investments in research & development
3.3.2. Market Restraint Analysis
3.3.2.1. High manufacturing cost
3.3.3. Market Opportunity Analysis
3.3.3.1. Advent of augmented, virtual, and mixed reality technology
3.4. U.S. Micro LED Market Analysis Tools
3.4.1. End-user Analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic landscape
3.4.2.3. Social landscape
3.4.2.4. Technological landscape
3.4.2.5. Environmental landscape
3.4.2.6. Legal landscape
CHAPTER 4. U.S. MICRO LED MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
4.1. Segment Dashboard
4.2. U.S. Micro LED Market: Device Movement Analysis, USD Million, 2023 & 2030
4.2.1. Display
4.2.1.1. Display market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.2. Television
4.2.1.2.1. Television market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.3. AR & VR
4.2.1.3.1. AR & VR market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.4. Automotive
4.2.1.4.1. Automotive market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.5. Smartwatch
4.2.1.5.1. Smartwatch market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.6. Smartphone, Tablets, and Laptops
4.2.1.6.1. Smartphone, tablets, and laptops market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2. Lighting
4.2.2.1. Lighting market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2.2. General lighting
4.2.2.2.1. General lighting market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2.3. Automotive lighting
4.2.2.3.1. Automotive lighting market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 5. U.S. MICRO LED MARKET: DISPLAY PIXEL DENSITY ESTIMATES & TREND ANALYSIS
5.1. Segment Dashboard
5.2. U.S. Micro LED Market: Systems Movement Analysis, USD Million, 2023 & 2030
5.2.1. Less than 3000ppi
5.2.1.1. Less than 3000ppi market estimates and forecasts 2018 - 2030 (USD Million)
5.2.2. 3000ppi to 5000ppi
5.2.2.1. 3000ppi to 5000ppi market estimates and forecasts 2018 - 2030 (USD Million)
5.2.3. Greater than 5000ppi
5.2.3.1. Greater than 5000ppi market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 6. U.S. MICRO LED MARKET: END-USE ESTIMATES & TREND ANALYSIS
6.1. Segment Dashboard
6.2. U.S. Micro LED Market: Industry Movement Analysis, USD Million, 2023 & 2030
6.2.1. Automotive
6.2.1.1. Automotive market estimates and forecasts 2018 - 2030 (USD Million)
6.2.2. Consumer Electronics
6.2.2.1. Consumer electronics market estimates and forecasts 2018 - 2030 (USD Million)
6.2.3. Healthcare
6.2.3.1. Healthcare market estimates and forecasts 2018 - 2030 (USD Million)
6.2.4. BFSI
6.2.4.1. BFSI market estimates and forecasts 2018 - 2030 (USD Million)
6.2.5. Aerospace & Defence
6.2.5.1. Aerospace & defence market estimates and forecasts 2018 - 2030 (USD Million)
6.2.6. Others
6.2.6.1. Others market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Company Market Positioning
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.5.1. Expansion
7.5.2. Mergers & acquisition
7.5.3. Partnerships & collaborations
7.5.4. New product launches
7.5.5. Research and development
7.6. Company Profiles
7.6.1. eLux, Inc.
7.6.1.1. Company overview
7.6.1.2. Financial performance
7.6.1.3. Product benchmarking
7.6.1.4. Strategic initiatives
7.6.2. Shoei Electronic Materials, Inc. (Nanosys)
7.6.2.1. Company overview
7.6.2.2. Financial performance
7.6.2.3. Product benchmarking
7.6.2.4. Strategic initiatives
7.6.3. VerLase Technologies
7.6.3.1. Company overview
7.6.3.2. Financial performance
7.6.3.3. Product benchmarking
7.6.3.4. Strategic initiatives
7.6.4. Alphabet, Inc.
7.6.4.1. Company overview
7.6.4.2. Financial performance
7.6.4.3. Product benchmarking
7.6.4.4. Strategic initiatives
7.6.5. Lumiode
7.6.5.1. Company overview
7.6.5.2. Financial performance
7.6.5.3. Product benchmarking
7.6.5.4. Strategic initiatives
7.6.6. Plessey Semiconductors
7.6.6.1. Company overview
7.6.6.2. Financial performance
7.6.6.3. Product benchmarking
7.6.6.4. Strategic initiatives
7.6.7. VueReal
7.6.7.1. Company overview
7.6.7.2. Financial performance
7.6.7.3. Product benchmarking
7.6.7.4. Strategic initiatives
1.1. Market Segmentation & Scope
1.2. Segment Definitions
1.2.1. Application
1.2.2. Display Pixel Density
1.2.3. End-use
1.2.4. Estimates and forecasts timeline
1.3. Research Methodology
1.4. Information Procurement
1.4.1. Information Procurement
1.4.2. Information or Data Analysis
1.4.3. Market Formulation & Data Visualization
1.4.4. Data Validation & Publishing
1.5. Research Scope and Assumptions
1.5.1. List of Data Sources
CHAPTER 2. EXECUTIVE SUMMARY
2.1. Market Outlook
2.2. Segment Outlook
2.2.1. Application Outlook
2.2.2. Display Pixel Density Outlook
2.2.3. End-use Outlook
2.3. Competitive Insights
CHAPTER 3. U.S. MICRO LED MARKET VARIABLES, TRENDS & SCOPE
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. End-user Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Rising demand for high-quality displays
3.3.1.2. Increasing investments in research & development
3.3.2. Market Restraint Analysis
3.3.2.1. High manufacturing cost
3.3.3. Market Opportunity Analysis
3.3.3.1. Advent of augmented, virtual, and mixed reality technology
3.4. U.S. Micro LED Market Analysis Tools
3.4.1. End-user Analysis - Porter’s
3.4.1.1. Supplier power
3.4.1.2. Buyer power
3.4.1.3. Substitution threat
3.4.1.4. Threat of new entrant
3.4.1.5. Competitive rivalry
3.4.2. PESTEL Analysis
3.4.2.1. Political landscape
3.4.2.2. Economic landscape
3.4.2.3. Social landscape
3.4.2.4. Technological landscape
3.4.2.5. Environmental landscape
3.4.2.6. Legal landscape
CHAPTER 4. U.S. MICRO LED MARKET: APPLICATION ESTIMATES & TREND ANALYSIS
4.1. Segment Dashboard
4.2. U.S. Micro LED Market: Device Movement Analysis, USD Million, 2023 & 2030
4.2.1. Display
4.2.1.1. Display market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.2. Television
4.2.1.2.1. Television market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.3. AR & VR
4.2.1.3.1. AR & VR market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.4. Automotive
4.2.1.4.1. Automotive market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.5. Smartwatch
4.2.1.5.1. Smartwatch market estimates and forecasts 2018 - 2030 (USD Million)
4.2.1.6. Smartphone, Tablets, and Laptops
4.2.1.6.1. Smartphone, tablets, and laptops market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2. Lighting
4.2.2.1. Lighting market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2.2. General lighting
4.2.2.2.1. General lighting market estimates and forecasts 2018 - 2030 (USD Million)
4.2.2.3. Automotive lighting
4.2.2.3.1. Automotive lighting market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 5. U.S. MICRO LED MARKET: DISPLAY PIXEL DENSITY ESTIMATES & TREND ANALYSIS
5.1. Segment Dashboard
5.2. U.S. Micro LED Market: Systems Movement Analysis, USD Million, 2023 & 2030
5.2.1. Less than 3000ppi
5.2.1.1. Less than 3000ppi market estimates and forecasts 2018 - 2030 (USD Million)
5.2.2. 3000ppi to 5000ppi
5.2.2.1. 3000ppi to 5000ppi market estimates and forecasts 2018 - 2030 (USD Million)
5.2.3. Greater than 5000ppi
5.2.3.1. Greater than 5000ppi market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 6. U.S. MICRO LED MARKET: END-USE ESTIMATES & TREND ANALYSIS
6.1. Segment Dashboard
6.2. U.S. Micro LED Market: Industry Movement Analysis, USD Million, 2023 & 2030
6.2.1. Automotive
6.2.1.1. Automotive market estimates and forecasts 2018 - 2030 (USD Million)
6.2.2. Consumer Electronics
6.2.2.1. Consumer electronics market estimates and forecasts 2018 - 2030 (USD Million)
6.2.3. Healthcare
6.2.3.1. Healthcare market estimates and forecasts 2018 - 2030 (USD Million)
6.2.4. BFSI
6.2.4.1. BFSI market estimates and forecasts 2018 - 2030 (USD Million)
6.2.5. Aerospace & Defence
6.2.5.1. Aerospace & defence market estimates and forecasts 2018 - 2030 (USD Million)
6.2.6. Others
6.2.6.1. Others market estimates and forecasts 2018 - 2030 (USD Million)
CHAPTER 7. COMPETITIVE LANDSCAPE
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company Categorization
7.3. Company Market Positioning
7.4. Company Heat Map Analysis
7.5. Strategy Mapping
7.5.1. Expansion
7.5.2. Mergers & acquisition
7.5.3. Partnerships & collaborations
7.5.4. New product launches
7.5.5. Research and development
7.6. Company Profiles
7.6.1. eLux, Inc.
7.6.1.1. Company overview
7.6.1.2. Financial performance
7.6.1.3. Product benchmarking
7.6.1.4. Strategic initiatives
7.6.2. Shoei Electronic Materials, Inc. (Nanosys)
7.6.2.1. Company overview
7.6.2.2. Financial performance
7.6.2.3. Product benchmarking
7.6.2.4. Strategic initiatives
7.6.3. VerLase Technologies
7.6.3.1. Company overview
7.6.3.2. Financial performance
7.6.3.3. Product benchmarking
7.6.3.4. Strategic initiatives
7.6.4. Alphabet, Inc.
7.6.4.1. Company overview
7.6.4.2. Financial performance
7.6.4.3. Product benchmarking
7.6.4.4. Strategic initiatives
7.6.5. Lumiode
7.6.5.1. Company overview
7.6.5.2. Financial performance
7.6.5.3. Product benchmarking
7.6.5.4. Strategic initiatives
7.6.6. Plessey Semiconductors
7.6.6.1. Company overview
7.6.6.2. Financial performance
7.6.6.3. Product benchmarking
7.6.6.4. Strategic initiatives
7.6.7. VueReal
7.6.7.1. Company overview
7.6.7.2. Financial performance
7.6.7.3. Product benchmarking
7.6.7.4. Strategic initiatives
LIST OF TABLES
Table 1 List of abbreviations
Table 2 U.S. micro LED market, by application, 2018 - 2030 (USD Million)
Table 3 U.S. micro LED market, by display pixel density, 2018 - 2030 (USD Million)
Table 4 U.S. micro LED market, by end-use, 2018 - 2030 (USD Million)
Table 1 List of abbreviations
Table 2 U.S. micro LED market, by application, 2018 - 2030 (USD Million)
Table 3 U.S. micro LED market, by display pixel density, 2018 - 2030 (USD Million)
Table 4 U.S. micro LED market, by end-use, 2018 - 2030 (USD Million)
LIST OF FIGURES
Fig. 1 Market research process
Fig. 2 U.S. micro LED market segmentation
Fig. 3 U.S. micro LED landscape
Fig. 4 Information procurement
Fig. 5 Data analysis models
Fig. 6 Market formulation and validation
Fig. 7 Data validating & publishing
Fig. 8 Market snapshot
Fig. 9 Segment snapshot (1/2)
Fig. 10 Segment snapshot (2/2)
Fig. 11 Competitive landscape snapshot
Fig. 12 U.S. micro LED market: End-user value chain analysis
Fig. 13 U.S. micro LED market: Market dynamics
Fig. 14 U.S. micro LED market: PORTER's analysis
Fig. 15 U.S. micro LED market: PESTEL analysis
Fig. 16 U.S. micro LED market: Application movement analysis
Fig. 17 U.S. micro LED market: Application outlook and key takeaways
Fig. 18 U.S. micro LED market: Display pixel density movement analysis
Fig. 19 U.S. micro LED market: Display pixel density outlook and key takeaways
Fig. 20 U.S. micro LED market: End-use movement analysis
Fig. 21 U.S. micro LED market: End-use outlook and key takeaways
Fig. 22 Key Company Categorization
Fig. 23 Company Market Positioning
Fig. 24 Strategic Framework
Fig. 1 Market research process
Fig. 2 U.S. micro LED market segmentation
Fig. 3 U.S. micro LED landscape
Fig. 4 Information procurement
Fig. 5 Data analysis models
Fig. 6 Market formulation and validation
Fig. 7 Data validating & publishing
Fig. 8 Market snapshot
Fig. 9 Segment snapshot (1/2)
Fig. 10 Segment snapshot (2/2)
Fig. 11 Competitive landscape snapshot
Fig. 12 U.S. micro LED market: End-user value chain analysis
Fig. 13 U.S. micro LED market: Market dynamics
Fig. 14 U.S. micro LED market: PORTER's analysis
Fig. 15 U.S. micro LED market: PESTEL analysis
Fig. 16 U.S. micro LED market: Application movement analysis
Fig. 17 U.S. micro LED market: Application outlook and key takeaways
Fig. 18 U.S. micro LED market: Display pixel density movement analysis
Fig. 19 U.S. micro LED market: Display pixel density outlook and key takeaways
Fig. 20 U.S. micro LED market: End-use movement analysis
Fig. 21 U.S. micro LED market: End-use outlook and key takeaways
Fig. 22 Key Company Categorization
Fig. 23 Company Market Positioning
Fig. 24 Strategic Framework
