The GaN micro-LED market refers to the market for micro-LEDs that use gallium nitride (GaN) material. GaN micro-LEDs are a new type of LED that offer advantages over traditional LEDs such as higher brightness, lower power consumption, and smaller size. The GaN micro-LED market is expected to grow rapidly in the coming years, driven by increasing demand for high-brightness and high-resolution displays in areas such as smartphones, wearable devices, and televisions. The market is also expected to benefit from the development of new applications such as augmented reality and virtual reality.
Global sales of GaN Micro-LEDs are anticipated to increase from US$ 514.4 million in 2022 to US$ 7,383.0 million by 2029. Between 2022 and 2029, the GaN Micro-LED market is projected to expand at a CAGR of 46.3%. Nearly 5% of the worldwide micro-LED market was made up of GaN Micro-LED demand.
Over the forecast period, the GaN Micro-LED market is anticipated to experience notable expansion. The demand is expected to increase as more people utilise near-eye displays (NED) or wearable screens to experience virtual reality. Another example is the growing use of wearable displays for smartwatches and head mounted displays (HMDs), which, when combined with the trend toward infotainment in cars, is projected to bring about swift changes in the global GaN Micro-LED market.
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What variables affect the development of the GaN Micro-LED market?
GaN Micro-LED market expansion is anticipated to be fueled by customer demand for high-end home entertainment systems, demand for video streaming, growth in infotainment systems in autos, growing trend in foldable displays, and flexible technologies.
GaN Micro-LED is quite likely to enter the mainstream in the near future given the rate of technology development and shifting customer preferences. Additionally, during the time of assessment, the global GaN Micro-LED market’s growth trajectory is anticipated to be shaped by demands coming from younger customers. GaN Micro-LED will be used in more applications and gain wider customer acceptability as the cost of products incorporating it falls.
Competitive Landscape
The global GaN Micro-LED industry serves a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on the development of solid distribution partnerships and joint ventures, thus targeting a firmer global footprint. With the use of technology, vendors also try to accelerate its business transformation and growth objectives by increasing its partner base.
GaN Micro-LED Market Survey by Category
By Output Power:
- Low Power GaN Micro-LED (0.15 to 0.7 W)
- Mid Power GaN Micro-LED (0.7 to 1 W)
- High Power GaN Micro-LED (1 to 6 W)
- Ultra-High Power GaN Micro-LED (>6 W)
By Function Type:
- GaN Micro-LED Display
- Near to Eye Devices: AR & VR
- Smartwatch
- Television
- Smartphones
- Laptops
- GaN Micro-LED Lighting
By Industry:
- Consumer Electronics
- Automotive
- Aerospace & Defense
- Sports & Entertainment
- Healthcare
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan
- Japan
- Middle East and Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. GaN Micro-LED Market Demand Analysis 2014-2021 and Forecast, 2022-2029
4.1. Historical Market Size (US$ Thousands) Analysis, 2014-2021
4.2. Current and Future Market Size (US$ Thousands) Projections, 2019-2028
4.3. Y-o-Y Growth Trend Analysis
5. Market Background
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