Global Micro-LED Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

Micro-LED technology is a method of getting brighter, higher contrast images from a device compared to conventional technologies. Till now, LEDs have been used as a backlight for LCD screens. Rather than OLED technology, every device uses this technology of shining light through its pixels. But Micro-LED technology introduced a system that uses very tiny LEDs that can function as individual pixels. Pixel is its light source and does not require any backlighting addition. This allows screens to be slimmer and images to be better controlled across the board. Micro-LED technology's benefits include greater colour fidelity, wider contrasts, increased brightness, long lifespan, lower power conception, etc. Microscopic LEDs are used to create colour pixels directly. Micro-LED displays have higher potential to create efficient and attractive displays, to challenge the current OLED displays. Content can look different depending on which display technology a device has. Micro-LED technology has self-lit pixels that turn on and off to achieve perfect black and infinite contrast.

According to the research report “Global Micro-LED Market" published by Actual Market Research, the Micro-LED market is projected to have higher growth with 81.49% CAGR by 2027. Increasing penetration of consumer electronics and network technologies are driving factors for the rapid growth of the Micro-LED market. The Global Micro-LED market is segmented into different regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Asia-Pacific Micro-LED Market is expected to have a higher market value share in the forecast period. The Micro-LED market growth in the Asia-Pacific region is mainly driven by the rising demand for smartphones, smart watches, near-to-eye devices, and the advertisement industry, which requires high-definition displays. Micro-LED technology encourages potential industrialists to invest in the new market. Micro-LED has become an attractive emissive display technology and is pursued by players from various industries. As more and more players are plunging into the Micro-LED technology, they gradually choose to work with each other directly or in a large network. Many supply chain clusters are formed based on geography, with cross-continental collaboration increasing common.

Global Micro-LED market is segmented into two major applications: display and lighting. Lighting technology is an emerging technology across the globe. Many companies and industries are applying lighting applications to various innovations. Micro-LED technology has many options based on LED sizes for various purposes. This segmentation includes a micro, small & medium, and large display. Small or mini display segment is expected to increase with more than 75% CAGR. The increasing adoption of wearable displays such as smart watches, near-to-eye devices, etc is driving the rapid increase of Micro-LED small display technology. With players holding various fields, they have different entry markets to target. This report explains various applications, such as augmented/virtual (AR/VR), large video displays (digital signage), television, smart watches, smart phones, monitors, head-up displays, laptop, and emerging displays. The forecast region expects the television segment to have increased market share.

The demand for brighter and power-efficient display panels is growing as the urban population is increasing daily. Personal and professional mobility presents significant challenges in urban areas. A higher urban population tends to surge transportation volume as the business grows.The rise in consumer electronics demand is also a driving factor for micro-led market growth. Aspects such as an increase in disposable income and improvement in the standard of living among the middle class population boost the demand for consumer electronics. In addition, microLED display applications such as smartphones, microLED TV, laptops, smartwatches, and others in the consumer electronics segment are anticipated to rise speedily during the forecast period. Thus, the emergence of such applications is expected to fuel the need of micro displays in the future.

Rising demand for wearable displays for smart watches and head-mounted displays (HMDs) are giving the new opportunities to micro-led market. Smart wearable manufacturers use small display panels in devices such as watches, wristbands, and smart glasses. The growing market for smart wearables is projected to create well-paid opportunities for display panel manufacturers, such as Samsung, LG, AU Optronics, and Innolux. With the growing opportunities the market is also facing challenges such as demand for high investment and requirement for different manufacturing processes to produce micro-LED chips for different applications in bulk.

Impact of Covid-19 on Global Micro-LED market:
The Micro-LED market has been witnessing prominent growth over the years. The Covid-19 pandemic has impacted the demand for Micro-LED based products, especially in 2020. The pandemic has forced companies to adopt remote working services. The implementation of lockdown in almost all the major all the major countries to curb the spread of Covid-19 has disrupted the supply chain, halted manufacturing activities, and impacted research and development activities which resulted into delayed production.

Major Companies present in the market:
LuxVue Technology (Apple Inc.), Oculus VR Inc. (Meta Inc.), Sony Corporation, Samsung Electronics Co., Limited, LG Display Co. Limited, Innolux Corporation, Epistar Corporation, Ostendo Technologies, Inc, JBD Inc., Rohinni LLC, Opt ovate Limited, Aledia SA, Plessey Semiconductors Limited, VueReal Inc. and ALLOS Semiconductors GmbH.

Considered in this report
• Geography: Global
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Global market with its value and forecast along with its segments
• Region-wise Micro-market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• North America
• Europe
• Asia-Pacific
• Latin America, Middle East & Africa

By Panel Size in the report:
• Micro-Display
• Small & Medium-sized
• Large Panel

By Application in the report:
• Display
• Smartwatch
• Near-to-eye Devices (AR and VR)
• Television
• Smartphone and Tablet
• Monitor and Laptop
• Head-up Display
• Digital Signage
• Others
• Lighting

By End User in the report:
• Consumer Electronics
• Automotive
• Aerospace and Defense
• Other End Users

What's Inside a Actual Market Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

Make this report your own

We're excited to discuss your needs and our solutions. Let's schedule a call.

Ask an Expert

Kripa Shah

Senior Analyst

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now