Micro LED is an emerging lighting and display technology used to replace LCD & LED display and lighting markets. GaN Micro LED is developed with the goal that the display panels can offer low power consumption and high brightness. They can be broadly classified into GaN Micro LED display and GaN Micro LED lighting. The display panels have many more applications than lighting panels. Thus, GaN Micro LED find their applications in TVs, smartwatch, monitor & laptop, smartphone & tablet, general lighting, digital signage, automotive lighting, and others in end uses such as automotive, aerospace & defense, consumer electronics, advertising, and others. The global GaN micro LED market size is experiencing a significant growth, and is anticipated to grow considerably in the next few years.
The global GaN micro LED market is segmented on the basis of Panel Size, Application, End User, and Region. Based on Panel Size, the GaN micro LED market is divided into Small & Medium Sized Panel, Microdisplay, and Large panel and others. On the basis of Application, the market is categorized into TV’s, smartwatch, Monitor & Laptop, Smartphone & Tablet, General Lighting, Digital Signage, Automotive Lighting, and Others. On the basis of End Users into Automotive, Aerospace & Defense, Consumer Electronics, Advertising, and Others Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global GaN micro LED industry include Osram Opto semiconductors, Cree Inc., Innolux Corporation, Sanan Opto Electronics Co. Ltd., Plessey Semiconductors, Lumens Co. Ltd., and Others. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global market.
COVID-19 Scenario Analysis:
- Global GaN micro LED market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled which in turn have significant demand for the GaN Micro LED.
- The global factories have struggled to manufacture, integrate and assemble new GaN Micro LED technologies as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules and regulations which in turn has disrupted the global supply chains.
- The impact of COVID-19 on GaN micro LED market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains and demand for these products are gradually going to increase.
- This will provide opportunities for companies to think about ways of increasing production, research about technologies, and improve the current products.
Top impacting factors: GaN Micro LED Market Trends, Scenario Analysis, Drivers and Impact Analysis
The major driver for the growth of the GaN Micro LED market is the never ending demand by the consumers for better display technologies as GaN Micro LED provides better brightness without backlight and reduced power consumption. But, its high cost and complicated design are anticipated to hinder the market growth. Moreover, rise in infotainment in automobiles, rise in video streaming services, consumers demand for high end home entertainment solutions, and surge in trend in foldable and flexible technologies are expected to fuel the GaN micro LED market growth further.
New product launches to flourish the GaN micro LED market
In February 2020, Compound Photonics and Plessey Semiconductors Ltd. introduced microLED display modules resulting from their earlier declared tactical partnership to introduce and develop GaN-on-Silicon microLED based micro display solutions. Also, the decision to co-develop a full HD 0.26-inch MicroLED display solution was taken. Plessey is expected to tie its micro LED array wafer on backplane silicon wafer of Compound Photonics for this display system. Compound photonics’ NOVA digital architecture with MIPI input will be the basis of the display module. Thus, this product will flourish the market.
Surge in usage in sports and automotive industry
Major Key players have been concentrating on manufacturing various new products for precise applications as there are changing demands based on the use. There has been a surge in the application of GaN micro LED in sports and entertainment industry in the recent years due to the increase in the number video streaming services, increased entry of new generation video gaming products and accessories and rapid innovations in televisions. Also, the trend for auto infotainment, automotive lighting, and emergence of in car ambience which has led to the innovations in the automotive displays and lighting has also led to the surge of GaN micro LED in the automotive industry.
Key benefits of the report:
- This study presents the analytical depiction of the global GaN micro LED industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global GaN micro LED market share.
- The current market is quantitatively analyzed to highlight the global GaN micro LED market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global GaN micro LED market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the GaN micro LED Market research report:
- What are the leading market players active in the GaN micro LED market forecast?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
GaN Micro LED Market Report Highlights
By Panel Size
By End users
Key Market Players
Lumens Co. Ltd., Osram Opto Semiconductors GmbH, Cree Inc., Soraa Inc., Stanley Electric Co. Ltd., Honglitronic (HK) Technology Ltd., Nichia Corporation, Epistar Corporation, Peiker Acustic GmbH & Co. KG, Guangzhou Rainbow Microelectronics Technology Corp.