Micro-LED Display Market - Global Outlook & Forecast 2023-2028

List of Tables

The global micro-LED display market size was valued at USD 43.62 million in 2022 and is expected to grow at a CAGR of 135.88% during the forecast period.

MARKET TRENDS & OPPORTUNITIES

Growing Popularity of Wearable Devices

Wearable devices, encompassing a wide range of products, including smartwatches and fitness trackers, have become increasingly prevalent in today's tech-savvy society. These devices have revolutionized how we monitor and manage our health, stay connected, and access information on the go. One critical aspect that enables the functionality and appeal of these wearables is the display technology they employ. Small, lightweight, and energy-efficient displays are paramount to meet this market segment's stringent demands. In this regard, the micro-LED display market has emerged as a highly suitable and promising solution, owing to their minuscule size and exceptionally low power consumption.

Rise in Adoption of Electronic Displays in Automotives

The increasing demand for automotive technology and features directly impacts the rising demand for Micro-LED displays. This surge in demand is driven by various factors that make Micro-LED displays a preferred choice for automotive applications. Moreover, as vehicles become more advanced and technologically sophisticated, the need for high-quality displays in automotive interiors has grown significantly. Consumers now expect modern vehicles to come equipped with state-of-the-art infotainment systems, digital cockpits, and advanced driver assistance systems (ADAS).

INDUSTRY RESTRAINTS

High Competition from Other Display Technologies

The micro-LED display market faces intense competition from well-established counterparts, notably OLED (Organic Light-Emitting Diode) and LCD (Liquid Crystal Display). This competitive environment presents various challenges and considerations within the display industry. For instance, LCD technology remains dominant due to its cost-effectiveness, scalability, and versatility. The high competition from OLED and LCD technologies exerts pressure on the micro-LED display market on multiple fronts, such as price sensitivity, market penetration, and many more.

SEGMENTATION INSIGHTS

INSIGHTS BY APPLICATIONS

The TV & home cinema applications segment dominated the global micro-LED display market in 2022. The burgeoning popularity of TV and home cinema systems, driven by the widespread adoption of streaming services like Netflix, Amazon Prime, Hulu, and others, has led to a significant surge in demand for Micro LED displays. These advanced displays offer exceptional image quality, durability, and versatility, making them ideal for consumers seeking an immersive viewing experience. As technology evolves and becomes more affordable, Micro LED displays are poised to play a pivotal role in shaping the future of home entertainment and commercial applications. Furthermore, the heightened awareness and exposure to technology in tier 1 and tier 2 cities contribute significantly to adopting micro-LED. Residents in these areas are more attuned to technological advancements and are thus more receptive to innovative displays like micro-LED.

Segmentation by Applications

TV & Home Cinema
Digital Signage & Video Walls
Wearable
Smartphone & Tablets
Monitors & Laptops
Others

INSIGHTS BY PANEL SIZE

The global micro-LED display market by panel size is segmented into large, small, and medium. The large panel segment holds the most significant market share in 2022, attributed to the rising popularity of large-screen displays in various applications, including televisions, digital signage, and consumer electronics. The heightened demand for large panels can be attributed to the active participation of prominent manufacturers, including industry leaders such as Samsung, LG Electronics, SNA Displays, and several others. Moreover, the small segment has the highest CAGR due to the rising popularity of wearable devices like smartwatches and AR glasses. This has driven the demand for small, high-resolution displays that can fit comfortably on these devices.

Segmentation by Panel Size

Large
Small
Medium

GEOGRAPHICAL ANALYSIS

The APAC region held the largest market share in the global micro-LED display market in 2022, driven by increasing demand for smartphones, automobiles, government support, and other factors. China, South Korea, and Japan are anticipated to play pivotal roles as significant growth drivers within the APAC region. The North American region contributed over 21% of the total revenue, primarily attributed to the presence of key manufacturers such as Samsung Electronics and Sony Corporation, along with a well-developed technological infrastructure. Moreover, Europe has several prominent micro-LED display manufacturers, including LG Electronics, Innolux Corporation, and AU Optronics Corporation.

Segmentation by Geography

APAC
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
North America
- The U.S.
- Canada
Europe
- Germany
- The U.K.
- France
- Italy
- Spain
Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Mexico
- Rest of Latin America

COMPETITIVE LANDSCAPE

The global micro-LED display market is in its early stages of development but is witnessing rapid growth, with several companies competing to develop and commercialize this transformative technology. Major players in the global micro-LED display market, including industry giants like Samsung Electronics, Sony, LG Electronics, AU Optronics, Plessey Semiconductors, and JBD, are making significant investments in research and development. They focus on developing micro-LED displays tailored for various applications, ranging from smartphones, smartwatches, televisions, and laptops to augmented and virtual reality (AR/VR) headsets. More than 20 companies are competing in this segment, and many large companies are entering this segment to capture the market share and reduce dependency on other companies. Bigger companies like Google are entering the micro-LED display market through inorganic growth, and some have invested mainly in research and development.

Key Company Profiles

Aledia
AUO
LG Electronics
Nanosys
PlayNitride
Plessey
PRP Optoelectronics
Saphlux
Samsung Electronics
Sony Corporation
JBD

Other Prominent Vendors

ams-OSRAM
EPISTAR Corporation
eLux
LED Works
Innolux Corporation
KONKA
Lumileds
Lumens
LEYARD VTEAM
Ledman Optoelectronic
Mojo Vision
MICLEDI Microdisplays
Ostendo Technologies
Porotech
Rohinni
Raxium
Seoul Viosys
Tianma Europe
Vuzix
VueReal
Xiaomi
XDC

KEY QUESTIONS ANSWERED:

1. How big is the micro-LED display market?

2. What is the growth rate of the global micro-LED display market?

3. Which region dominates the global micro-LED display market share?

4. What are the significant trends in the micro-LED display industry?

5. Who are the key players in the global micro-LED display market?

Product Code: ARZ231119

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION
- 4.1.1 INCLUSIONS
- 4.1.2 EXCLUSIONS
- 4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
- 4.3.1 MARKET SEGMENTATION BY APPLICATIONS:
- 4.3.2 MARKET SEGMENTATION BY PANEL SIZE:
- 4.3.3 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1 MARKET DEFINITION
6.2 REPORT OVERVIEW
6.3 OPPORTUNITIES & CHALLENGE ANALYSIS
6.4 SEGMENT ANALYSIS
6.5 REGIONAL ANALYSIS
6.6 COMPETITIVE LANDSCAPE
- 6.6.1 BEGINNING OF MASS PRODUCTION IN THE MICRO-LED MARKET
- 6.6.2 RECENT MARKET DEVELOPMENTS
- 6.6.3 IMPACT OF MICRO-LED COST IN VARIOUS APPLICATIONS

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW
- 8.1.1 ADVANTAGES AND DISADVANTAGES OF MICRO-LEDS
- 8.1.2 GAN-BASED MICRO-LED
- 8.1.3 PRODUCT LIFECYCLE
8.2 MANUFACTURING
8.3 MONOLITHIC APPROACH
8.4 MAJOR CHALLENGES IN THE MARKET
- 8.4.1 MASS TRANSFER
- 8.4.2 REDUCED EQE WITH A SHRUNKEN CHIP SIZE
- 8.4.3 STRUCTURE AND PROCESS DESIGN FROM A SYSTEM PERSPECTIVE
- 8.4.4 DEFECTS MANAGEMENT
8.5 APPLICATIONS OF MICRO-LED
- 8.5.1 DISPLAY APPLICATIONS
- 8.5.2 OTHER NOVEL APPLICATIONS
8.6 TRENDS IN CONSUMER ELECTRONIC
- 8.6.1 SMART TV
- 8.6.2 AUDIO
- 8.6.3 HEADPHONE AND WERABALES
- 8.6.4 METAVERSE
- 8.6.5 AR AND VR

9 MARKET OPPORTUNITIES & TRENDS

9.1 GROWING POPULARITY OF WEARABLE DEVICES
9.2 ADOPTION OF GAN-ON SILICON ON MICRO LED DISPLAY
9.3 MINIATURIZATION AND FLEXIBILITY

10 MARKET GROWTH ENABLERS

10.1 ADOPTION OF ELECTRONIC DISPLAYS IN AUTOMOTIVES
10.2 GROWING DEMAND FOR BRIGHTER AND POWER-EFFICIENT DISPLAY PANELS
10.3 INCREASED DEMAND FOR ELECTRONIC PRODUCTS

11 MARKET RESTRAINTS

11.1 HIGH MANUFACTURING COST
11.2 HIGH COMPETITION FROM OTHER DISPLAY TECHNOLOGIES
11.3 PRODUCTION & COMMERCIALIZATION ISSUES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 DEMAND INSIGHTS
12.4 VENDOR ANALYSIS
12.5 FIVE FORCES ANALYSIS
- 12.5.1 THREAT OF NEW ENTRANTS
- 12.5.2 BARGAINING POWER OF SUPPLIERS
- 12.5.3 BARGAINING POWER OF BUYERS
- 12.5.4 THREAT OF SUBSTITUTES
- 12.5.5 COMPETITIVE RIVALRY

13 APPLICATIONS

13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 TV & HOME CINEMA
- 13.3.1 MARKET OVERVIEW
- 13.3.2 MARKET SIZE & FORECAST
- 13.3.3 MARKET BY GEOGRAPHY
13.4 DIGITAL SIGNAGE AND VIDEO WALLS
- 13.4.1 MARKET OVERVIEW
- 13.4.2 MARKET SIZE & FORECAST
- 13.4.3 MARKET BY GEOGRAPHY
13.5 WEARABLES
- 13.5.1 MARKET OVERVIEW
- 13.5.2 MARKET SIZE & FORECAST
- 13.5.3 MARKET BY GEOGRAPHY
13.6 SMARTPHONE & TABLETS
- 13.6.1 MARKET OVERVIEW
- 13.6.2 MARKET SIZE & FORECAST
- 13.6.3 MARKET BY GEOGRAPHY
13.7 MONITORS & LAPTOPS
- 13.7.1 MARKET OVERVIEW
- 13.7.2 MARKET SIZE & FORECAST
- 13.7.3 MARKET BY GEOGRAPHY
13.8 OTHERS
- 13.8.1 MARKET OVERVIEW
- 13.8.2 MARKET SIZE & FORECAST
- 13.8.3 MARKET BY GEOGRAPHY

14 PANEL SIZE

14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 LARGE
- 14.3.1 MARKET OVERVIEW
- 14.3.2 MARKET SIZE & FORECAST
- 14.3.3 MARKET BY GEOGRAPHY
14.4 SMALL
- 14.4.1 MARKET OVERVIEW
- 14.4.2 MARKET SIZE & FORECAST
- 14.4.3 MARKET BY GEOGRAPHY
14.5 MEDIUM
- 14.5.1 MARKET OVERVIEW
- 14.5.2 MARKET SIZE & FORECAST
- 14.5.3 MARKET BY GEOGRAPHY

15 GEOGRAPHY

15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 GEOGRAPHIC OVERVIEW

16 APAC

16.1 MARKET OVERVIEW
16.2 MARKET SIZE & FORECAST
16.3 APPLICATIONS
- 16.3.1 MARKET SIZE & FORECAST
16.4 PANEL SIZE
- 16.4.1 MARKET SIZE & FORECAST
16.5 KEY COUNTRIES
16.6 CHINA: MARKET SIZE & FORECAST
16.7 SOUTH KOREA: MARKET SIZE & FORECAST
16.8 JAPAN: MARKET SIZE & FORECAST
16.9 SINGAPORE: MARKET SIZE & FORECAST
16.10 REST OF APAC: MARKET SIZE & FORECAST

17 NORTH AMERICA

17.1 MARKET OVERVIEW
17.2 MARKET SIZE & FORECAST
17.3 APPLICATIONS
- 17.3.1 MARKET SIZE & FORECAST
17.4 PANEL SIZE
- 17.4.1 MARKET SIZE & FORECAST
17.5 KEY COUNTRIES
17.6 US: MARKET SIZE & FORECAST
17.7 CANADA: MARKET SIZE & FORECAST

18 EUROPE

18.1 MARKET OVERVIEW
18.2 MARKET SIZE & FORECAST
18.3 APPLICATIONS
- 18.3.1 MARKET SIZE & FORECAST
18.4 PANEL SIZE
- 18.4.1 MARKET SIZE & FORECAST
18.5 KEY COUNTRIES
18.6 GERMANY: MARKET SIZE & FORECAST
18.7 UK: MARKET SIZE & FORECAST
18.8 FRANCE: MARKET SIZE & FORECAST
18.9 ITALY: MARKET SIZE & FORECAST
18.10 SPAIN: MARKET SIZE & FORECAST

19 MIDDLE EAST AND AFRICA

19.1 MARKET OVERVIEW
19.2 MARKET SIZE & FORECAST
19.3 APPLICATIONS
- 19.3.1 MARKET SIZE & FORECAST
19.4 PANEL SIZE
- 19.4.1 MARKET SIZE & FORECAST
19.5 KEY COUNTRIES
19.6 UAE: MARKET SIZE & FORECAST
19.7 SAUDI ARABIA: MARKET SIZE & FORECAST
19.8 SOUTH AFRICA: MARKET SIZE & FORECAST
19.9 REST OF MIDDLE EAST AND AFRICA: MARKET SIZE & FORECAST

20 LATIN AMERICA

20.1 MARKET OVERVIEW
20.2 MARKET SIZE & FORECAST
20.3 APPLICATIONS
- 20.3.1 MARKET SIZE & FORECAST
20.4 PANEL SIZE
- 20.4.1 MARKET SIZE & FORECAST
20.5 KEY COUNTRIES
20.6 BRAZIL: MARKET SIZE & FORECAST
20.7 MEXICO: MARKET SIZE & FORECAST
20.8 REST OF LATIN AMERICA: MARKET SIZE & FORECAST

21 COMPETITIVE LANDSCAPE

21.1 COMPETITION OVERVIEW

22 KEY COMPANY PROFILES

22.1 ALEDIA
- 22.1.1 BUSINESS OVERVIEW
- 22.1.2 PRODUCT OFFERINGS
- 22.1.3 KEY STRATEGIES
- 22.1.4 KEY STRENGTHS
- 22.1.5 KEY OPPORTUNITIES
22.2 AUO
- 22.2.1 BUSINESS OVERVIEW
- 22.2.2 PRODUCT OFFERINGS
- 22.2.3 KEY STRATEGIES
- 22.2.4 KEY STRENGTHS
- 22.2.5 KEY OPPORTUNITIES
22.3 LG ELECTRONICS
- 22.3.1 BUSINESS OVERVIEW
- 22.3.2 PRODUCT OFFERINGS
- 22.3.3 KEY STRATEGIES
- 22.3.4 KEY STRENGTHS
- 22.3.5 KEY OPPORTUNITIES
22.4 NANOSYS
- 22.4.1 BUSINESS OVERVIEW
- 22.4.2 PRODUCT OFFERINGS
- 22.4.3 KEY STRATEGIES
- 22.4.4 KEY STRENGTHS
- 22.4.5 KEY OPPORTUNITIES
22.5 PLAYNITRIDE
- 22.5.1 BUSINESS OVERVIEW
- 22.5.2 PRODUCT OFFERINGS
- 22.5.3 KEY STRATEGIES
- 22.5.4 KEY STRENGTHS
- 22.5.5 KEY OPPORTUNITIES
22.6 PLESSEY
- 22.6.1 BUSINESS OVERVIEW
- 22.6.2 PRODUCT OFFERINGS
- 22.6.3 KEY STRATEGIES
- 22.6.4 KEY STRENGTHS
- 22.6.5 KEY OPPORTUNITIES
22.7 PRP OPTOELECTRONICS
- 22.7.1 BUSINESS OVERVIEW
- 22.7.2 PRODUCT OFFERINGS
- 22.7.3 KEY STRATEGIES
- 22.7.4 KEY STRENGTHS
- 22.7.5 KEY OPPORTUNITIES
22.8 SAPHLUX
- 22.8.1 BUSINESS OVERVIEW
- 22.8.2 PRODUCT OFFERINGS
- 22.8.3 KEY STRATEGIES
- 22.8.4 KEY STRENGTHS
- 22.8.5 KEY OPPORTUNITIES
22.9 SAMSUNG ELECTRONICS
- 22.9.1 BUSINESS OVERVIEW
- 22.9.2 PRODUCT OFFERINGS
- 22.9.3 KEY STRATEGIES
- 22.9.4 KEY STRENGTHS
- 22.9.5 KEY OPPORTUNITIES
22.10 SONY CORPORATION
- 22.10.1 BUSINESS OVERVIEW
- 22.10.2 PRODUCT OFFERINGS
- 22.10.3 KEY STRATEGIES
- 22.10.4 KEY STRENGTHS
- 22.10.5 KEY OPPORTUNITIES
22.11 JBD
- 22.11.1 BUSINESS OVERVIEW
- 22.11.2 PRODUCT OFFERINGS
- 22.11.3 KEY STRATEGIES
- 22.11.4 KEY STRENGTHS
- 22.11.5 KEY OPPORTUNITIES

23 OTHER PROMINENT VENDORS

23.1 AMS-OSRAM
- 23.1.1 BUSINESS OVERVIEW
- 23.1.2 PRODUCT OFFERINGS
23.2 EPISTAR CORPORATION
- 23.2.1 BUSINESS OVERVIEW
- 23.2.2 PRODUCT OFFERINGS
23.3 ELUX
- 23.3.1 BUSINESS OVERVIEW
- 23.3.2 PRODUCT OFFERINGS
23.4 LED WORKS
- 23.4.1 BUSINESS OVERVIEW
- 23.4.2 PRODUCT OFFERINGS
23.5 INNOLUX CORPORATION
- 23.5.1 BUSINESS OVERVIEW
- 23.5.2 PRODUCT OFFERINGS
23.6 KONKA
- 23.6.1 BUSINESS OVERVIEW
- 23.6.2 PRODUCT OFFERINGS
23.7 LUMILEDS
- 23.7.1 BUSINESS OVERVIEW
- 23.7.2 PRODUCT OFFERINGS
23.8 LUMENS
- 23.8.1 BUSINESS OVERVIEW
- 23.8.2 PRODUCT OFFERINGS
23.9 LEYARD VTEAM
- 23.9.1 BUSINESS OVERVIEW
- 23.9.2 PRODUCT OFFERINGS
23.10 LEDMAN OPTOELECTRONIC
- 23.10.1 BUSINESS OVERVIEW
- 23.10.2 PRODUCT OFFERINGS
23.11 MOJO VISION
- 23.11.1 BUSINESS OVERVIEW
- 23.11.2 PRODUCT OFFERINGS
23.12 MICLEDI MICRODISPLAYS
- 23.12.1 BUSINESS OVERVIEW
- 23.12.2 PRODUCT OFFERINGS
23.13 OSTENDO TECHNOLOGIES
- 23.13.1 BUSINESS OVERVIEW
- 23.13.2 PRODUCT OFFERINGS
23.14 POROTECH
- 23.14.1 BUSINESS OVERVIEW
- 23.14.2 PRODUCT OFFERINGS
23.15 ROHINNI
- 23.15.1 BUSINESS OVERVIEW
- 23.15.2 PRODUCT OFFERINGS
23.16 RAXIUM
- 23.16.1 BUSINESS OVERVIEW
- 23.16.2 PRODUCT OFFERINGS
23.17 SEOUL VIOSYS
- 23.17.1 BUSINESS OVERVIEW
- 23.17.2 PRODUCT OFFERINGS
23.18 TIANMA EUROPE
- 23.18.1 BUSINESS OVERVIEW
- 23.18.2 PRODUCT OFFERINGS
23.19 VUZIX
- 23.19.1 BUSINESS OVERVIEW
- 23.19.2 PRODUCT OFFERINGS
23.20 VUEREAL
- 23.20.1 BUSINESS OVERVIEW
- 23.20.2 PRODUCT OFFERINGS
23.21 XIAOMI
- 23.21.1 BUSINESS OVERVIEW
- 23.21.2 PRODUCT OFFERINGS
23.22 XDC
- 23.22.1 BUSINESS OVERVIEW
- 23.22.2 PRODUCT OFFERINGS

24 REPORT SUMMARY

24.1 KEY TAKEAWAYS
24.2 STRATEGIC RECOMMENDATIONS

25 QUANTITATIVE SUMMARY

25.1 MARKET BY GEOGRAPHY
25.2 MARKET BY APPLICATIONS
25.3 MARKET BY PANEL SIZE
25.4 APAC
- 25.4.1 APPLICATIONS: MARKET SIZE & FORECAST
- 25.4.2 PANEL SIZE: MARKET SIZE & FORECAST
25.5 NORTH AMERICA
- 25.5.1 APPLICATIONS: MARKET SIZE & FORECAST
- 25.5.2 PANEL SIZE: MARKET SIZE & FORECAST
25.6 EUROPE
- 25.6.1 APPLICATIONS: MARKET SIZE & FORECAST
- 25.6.2 PANEL SIZE: MARKET SIZE & FORECAST
25.7 MIDDLE EAST & AFRICA
- 25.7.1 APPLICATIONS: MARKET SIZE & FORECAST
- 25.7.2 PANEL SIZE: MARKET SIZE & FORECAST
25.8 LATIN AMERICA
- 25.8.1 APPLICATIONS: MARKET SIZE & FORECAST
- 25.8.2 PANEL SIZE: MARKET SIZE & FORECAST

26 APPENDIX

26.1 ABBREVIATIONS