The Global Micro LED Market is estimated to reach USD 2.8 Billion by 2024 at a CAGR of 72%.
Micro Light Emitting Diode (LED) is a technology used for displays made up of microscopic light emitting diodes. Micro LEDs use small pixel size compared to conventional LEDs and they also have self-emissive technology which reduces its dependence on backlighting. Owing to these features, micro LEDs display panels are slimmer and provide extremely high resolution for various end use applications. Micro LEDs are very power efficient and produce brighter pictures.
As there is a surge in demand for higher resolution displays in the smart devices, micro LEDs will fulfill the demand for better visual results in the near future. Micro LEDs are specifically used in smartphones, head-up displays (HUD), and smartwatches, for high resolution and better visual performance applications under variable luminous conditions.
Hence, this factor is expected to contribute towards the growth of micro LEDs market in the near future.
Consumer electronic products are mass produced and are required in almost every aspect by consumers. The consumer electronics faces shift because of technological advancements. Across various electronic products such as televisions, smartwatches, laptops, technological advancements are on a rise owing to consumer buying behavior. Micro LEDs are expected to get integrated in the manufacturing of aforesaid consumer electronic products and this will pave the way for the manufacturing of advanced electronic products.
Thus, growing demand of consumer electronics may contribute in the growth of the micro LED market, during the forecast period.
In the manufacturing process of micro LEDs, mass transfer is done in which LED chip is transferred to the substrate and this process is quite complex to perform. When the chip is transferred from temporary substrate to the final substrate, extra precautions are required to save the chip from any damage. Equipment available to perform this task are time consuming and affect the yield quality and quantity of the micro LEDs produced. The equipment required to make the chips with an emphasis on good yields and mass production will be technologically complex to produce, at present few companies and researchers are striving to overcome this situation.
Thus, barrier in the manufacturing process may hinder the growth of the micro LED market, during the forecast period.
The report on the micro LED market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2019-2024 (2019 estimated year, forecasted up to 2024)
Value (USD Million)
Type, Panel Size, Application, End User and Region
Asia-Pacific, Europe, Middle East and Africa, South Africa and North America
Key Companies Covered
For the scope of report, In-depth segmentation is offered by Forencis Research
Micro LED Market, by Type
Micro LED Market, by Panel Size
Micro LED Market, by Application
Micro LED Market, by End User
Micro LED Market, by Region
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Regional Coverage
1.5 Research Timeline
2 RESEARCH DESIGN & SCOPE
2.2 Primary Research
2.2.1 Key Industry Expert Insight
2.3 Secondary Research
2.3.1 Vital Data from Secondary Sources
2.4 Market Size Estimation
2.5 Data Validation & Triangulation
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.2.1 Growing Demand for High Resolution Displays in Smart Devices
4.2.2 Growing Demand of Consumer Electronics
4.3.1. Adopting Micro LEDs in Automotive Lightings
4.4.1. Defect Management and Repair Technology
5 INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
5.1.1. Power of Buyers
5.1.2. Power of Suppliers
5.1.3. Intensity of Competition
5.1.4. Challenges of Substitutes
5.1.5. Challenges of New Entrants
5.2 Macro-Economic Indicators
6 GLOBAL MICRO LED MARKET BY TYPE, Market Size in USD Million (2017—2024)
6.2 RGB Micro LED
6.3 Blue Micro LED
6.4 UV Micro LED
7 GLOBAL MICRO LED MARKET BY PANEL SIZE, Market Size in USD Million (2017—2024)
7.2 Below 2 inch
7.3 2-12 inch
7.4 12-55 inch
7.5 55-100 inch
7.6 Above 100 inch
8 GLOBAL MICRO LED MARKET BY APPLICATION, Market Size in USD Million (2017—2024)
8.5 Laptop and Tablet
8.6 Augmented Reality (AR)/Virtual Reality (VR)
8.7 Commercial Billboards
8.8 Micro LED Lighting System
9 GLOBAL MICRO LED MARKET BY END USER, Market Size in USD Million (2017—2024)
9.2 Consumer Electronics
9.5 Aerospace and Defense
10 GLOBAL MICRO LED MARKET BY REGION, Market Size in USD Million (2017—2024)
10.1 North America
10.2.6 Rest of Europe
10.3.5 South Korea
10.3.6 Rest of Asia-Pacific
10.4 Middle East and Africa
10.4.1 Saudi Arabia
10.4.3 Rest of Middle East and Africa
10.5 South America
10.5.3 Rest of South America
11 COMPETITIVE LANDSCAPE
11.2 Market Ranking/Share Analysis of Key Companies
11.3 Company Benchmarking
12 COMPANY PROFILES
12.1 Taiwan Semiconductor Mfg. Co. Ltd.
12.1.1 Company Overview
12.1.2 Financial Overview
12.1.3 Products/Solutions/Services Offered
12.1.4 Key Developments
12.1.5 SWOT Analysis
12.2 Facebook Inc.
12.3 glo AB
12.4 Japan Display Inc.
12.7 VerLASE Technologies LLC
12.8 Lextar Electronics Corp.
12.10 NITRIDE SEMICONDUCTORS Co. Ltd
12.11 Other Key Companies
13.1 Key Industry Expert Insights
13.2 Primary Discussion Guide
13.3 Customization Options
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain