Micro-LED Market by Application (Display (Smartwatch, NTE Devices (AR, VR), Smartphone, Television, HUD, Digital Signage, Laptop & Monitor) and Lighting (General, Automotive)), Display Panel Size, Vertical, and Geography - Global Forecast to 2025

[154 Pages Report] The micro-LED market is estimated to grow from USD 0.60 Billion in 2019 to USD 20.50 Billion by 2025, at a CAGR of 80.1% between 2019 and 2025. The base year considered for the study is 2018; however, as of 2018, only the digital signage application is commercialized following Sony’s launch of micro-LED-based “CLEDIS” displays with 1.26mm pixel pitch and ~50-micron size RGB pixels. Major applications such as smartwatches, NTE devices, and smartphones are expected to be commercialized 2019 onward, owing to which the forecast period for the report is considered to be 2019–2025.

Study Objectives

• To identify the potential applications of micro-LED technology in display and lighting segments
• To analyze the current manufacturing capabilities of leading LED foundries and transfer capabilities of leading players involved in the micro-LED ecosystem
• To analyze the current capabilities and technology status of micro-LEDs in terms of LED manufacturing, mass transfer, yield, investment, and cost
• To discuss the current challenges pertaining to micro-LED technology and analyze solutions offered by different players to overcome these challenges
• To define and describe each current and futuristic stages of micro-LED value chain and analyze the market based on player activities, developments, and capabilities
• To analyze patent activities and identify the latest trends in patent filing and discuss leading players involved
• To analyze pixel pitch, RGB LED size, pixel volume, display product demand during the commercialization year, and pixel (RGB LED) production/transfer rate required for different display applications based on display panel size, aspect ratio, and resolution
• To estimate the commercialization potential of micro-LED technology for different display applications based on current and futuristic manufacturing capabilities, mass transfer capabilities, yield improvements, and configuration/specification requirement for different display applications
• To analyze demand for micro-LED-based display panels, in terms of volume, during the commercialization year and forecast period segmented on the basis of different display applications
• To define, describe, and forecast the micro-LED market, in terms of value, by display panel size, vertical, and geography
• To provide market size estimation for North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW), along with respective countries, segmented on the basis of each application, by identifying the potential micro-LED panel customers or brand product manufacturers, respective share, and potential demand
• To identify and analyze the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth
• To analyze opportunities in the market for stakeholders by identifying the high-growth segments of the market
• To analyze strategic developments such as joint ventures, mergers & acquisitions, prototype developments, and R&D in the micro-LED market
• To strategically profile the key players and comprehensively analyze their market position in terms of ranking and core competencies, and detail the competitive landscape for market leaders

Research Methodology

The research methodology includes the use of primary and secondary data. Both top-down and bottom-up approaches have been used to estimate and validate the size of the market, as well as other dependent submarkets. Key players in the market have been identified through secondary research. Secondary sources include references such as annual reports, company press releases, Factiva, and investor presentations of companies; white papers, consumer electronics exhibitions, and certified publications (such as IEEE, Science Direct, and articles of recognized authors); websites (such as Consumer Technology Association (CTA), CS International Conference, SEMI, International Signs & LED Exhibition, Display Taiwan, OLED-Info, Integrated Systems Europe, qled-info, FlexTech Alliance, and Touch Taiwan); directories; and databases. All the percentage shares and breakdowns have been determined using secondary sources and verified through primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

To know about the assumptions considered for the study, download the pdf brochure

Major companies operating in this market are Apple (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others. Some of the key innovators in the micro-LED market include Mikro Mesa Technology (Taiwan), VueReal (Canada), Uniqarta (US), ALLOS Semiconductors (Germany), Plessey Semiconductors (UK), PlayNitride (Taiwan), and Ostendo Technologies (US). Some other prominent players in the micro-LED market include Lumens (South Korea), Lumiode (US), Rohinni (US), Cooledge Lighting (Canada), and Nichia (Japan).

Some of the prominent research institutes undertaking research in the micro-LED market are Industrial Technology Research Institute (ITRI) (Taiwan), Changchun Institute (China), III-V Lab (France), CEA Leti (France), Hong Kong University of Science and Technology (Hong Kong), and Fraunhofer-Gesellschaft (Germany). Some of the input suppliers developing related materials and components in micro-LED market include Jasper Display (Taiwan), Crystalwise Technology (Taiwan), Unimicron (Taiwan), Luminit (US), Macroblock (Taiwan), and Max Technologies (Taiwan).

Key Target Audience

• LED supply chain
• LED manufacturers
• Sapphire makers
• MOCVD suppliers
• Epi houses
• Display panel manufacturers
• Brand customers/OEMs/ODMs
• OSAT and foundries
• Display-related service providers
• Display-related associations, organizations, forums, and alliances
• Government bodies such as regulatory authorities and policy-makers
• Venture capitalists, financial and strategic investors, and start-ups
• Semiconductor component suppliers
• Distributors and sales firms of display panels and devices
• End users of display devices
• Research institutes, organizations, and consulting companies

Scope of the Report

In this report, the micro-LED market has been segmented as follows:

Micro-LED Market, by Application

• Display
  • Near-to-Eye (NTE) Devices
    • AR HMD
    • VR HMD
  • Smartwatch
  • Television
  • Head-up Display (HUD) 
  • Smartphone and Tablet
  • Monitor and Laptop
  • Digital Signage
• Lighting
  • General Lighting
  • Automotive Lighting

Micro-LED Display Market, by Panel Size

• Microdisplay
• Small- and Medium-sized Panel
• Large Panel

Micro-LED Display Market, by Vertical

• Consumer Electronics
• Automotive
• Advertisement
• Aerospace & Defense
• Others

Micro-LED Market, by Geography

• Asia Pacific
  • South Korea
  • China
  • Japan
  • Rest of Asia Pacific
• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Rest of the World

Company Profiles: Detailed analysis of the major companies in the market.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

• Company Information

Detailed analysis and profiling of additional market players (up to 5)

• Industry-specific Data

Detailed analysis of specific industries and respective use cases or applications of micro-LED technology

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Table of Contents

1 Introduction (Page No. - 15)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Geographic Segmentation
    1.4 Years Considered for Study
    1.5 Currency
    1.6 Package Size
    1.7 Limitations
    1.8 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 35)
    4.1 Attractive Opportunities for Micro-LED Market Growth
    4.2 Micro-LED Market for Display and Lighting Applications (2017–2025)
    4.3 Smartphone, NTE Devices, and Television Applications to Drive Global Micro-LED Display Market
    4.4 Micro-LED Display Market for Microdisplays to Grow at Highest CAGR Between 2019 and 2025
    4.5 Consumer Electronics to Hold Largest Size of Micro-LED Display Market By 2025
    4.6 Leading Applications and Geographies in Micro-LED Display Market By 2025

5 Market Overview (Page No. - 40)
    5.1 Market Dynamics
           5.1.1 Drivers
                    5.1.1.1 Increasing Demand for Brighter and More Power-Efficient Display Panels for Smartwatches, Mobile Devices, and AR/VR Devices
                    5.1.1.2 Increasing Interest of Electronics Giants—Apple, Samsung, and Sony
                    5.1.1.3 Interest Shown By Input/Component Suppliers in Supply Chain
           5.1.2 Restraints
                    5.1.2.1 No Established Supply Chain and Distributed Patent Portfolio
                    5.1.2.2 Rising Demand for OLED
                    5.1.2.3 High Growth of Flexible Display Market and Adoption of Folded Displays for Smartphones in Near Future
           5.1.3 Opportunities
                    5.1.3.1 Manufacturing of Micro-LEDs on Large Silicon Wafers
                    5.1.3.2 Growing Demand of Wearable Displays for Smartwatches and AR/VR HMDs
                    5.1.3.3 High Penetration of Micro-LED Technology-Based Products in the Display Panel Market
           5.1.4 Challenges
                    5.1.4.1 Huge Investment Requirement in Infrastructure, Equipment, and Process Development; and Need for Different Manufacturing Processes as

Well as Equipment Compatibility
                    5.1.4.2 Low Yield, High Cost, and Need for Improving Micro-LED Production and Mass Transfer Processes
                    5.1.4.3 Trade-Off Between Pixel Volume and Pixel Size

6 Industry Trends (Page No. - 49)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 R&D (Prototype & Ip Development)
           6.2.2 Micro-LED Manufacturing (Led Foundry)
           6.2.3 Mass Transfer
           6.2.4 Panel Manufacturing
           6.2.5 Brand Product Integration
           6.2.6 Input Suppliers
                    6.2.6.1 Wafer Suppliers
                    6.2.6.2 Driver/Controller Suppliers
                    6.2.6.3 Manufacturing Equipment Suppliers
                    6.2.6.4 Other Suppliers
    6.3 Patent Analysis
    6.4 Micro-LED: Current Capability and Technology Status
    6.5 Micro-LED Commercialization Potential in Different Devices
           6.5.1 Device Comparison and Specification Requirement
                    6.5.1.1 Small and Medium-Sized Devices
                    6.5.1.2 Large Devices

7 Micro-LED Market, By Application (Page No. - 57)
    7.1 Introduction
    7.2 Display
           7.2.1 Near-To-Eye (NTE) Devices
                    7.2.1.1 AR HMD
                    7.2.1.2 VR HMD
           7.2.2 Smartwatch
           7.2.3 Television
           7.2.4 Head-Up Display (HUD)
           7.2.5 Smartphone and Tablet
           7.2.6 Monitor and Laptop
           7.2.7 Digital Signage
    7.3 Lighting
           7.3.1 General Lighting
           7.3.2 Automotive Lighting

8 Micro-LED Display Market, By Panel Size (Page No. - 77)
    8.1 Introduction
    8.2 Microdisplay
    8.3 Small- and Medium-Sized Panel
    8.4 Large Panel

9 Micro-LED Display Market, By Vertical (Page No. - 83)
    9.1 Introduction
    9.2 Consumer Electronics
    9.3 Advertisement
    9.4 Automotive
    9.5 Aerospace & Defense
    9.6 Others

10 Micro-LED Market, By Geography (Page No. - 88)
     10.1 Introduction
     10.2 APAC
             10.2.1 South Korea
             10.2.2 China
             10.2.3 Japan
             10.2.4 Rest of APAC
     10.3 North America
             10.3.1 US
             10.3.2 Canada
             10.3.3 Mexico
     10.4 Europe
             10.4.1 UK
             10.4.2 Germany
             10.4.3 France
             10.4.4 Rest of Europe
     10.5 Rest of the World (RoW)

11 Competitive Landscape (Page No. - 107)
     11.1 Overview
     11.2 Micro-LED Market: Ranking Analysis (2018)
     11.3 Competitive Scenario
             11.3.1 Product Developments
             11.3.2 Agreements
             11.3.3 Expansions
             11.3.4 Mergers, Acquisitions, and Investments

12 Company Profiles (Page No. - 112)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     12.1 Key Players
             12.1.1 Apple (Luxvue)
             12.1.2 Sony
             12.1.3 X-Celeprint
             12.1.4 Samsung Electronics
             12.1.5 Oculus VR (Infiniled)
             12.1.6 Epistar
             12.1.7 Glo AB
             12.1.8 Verlase Technologies
             12.1.9 JBD Inc.
             12.1.10 Aledia
     12.2 Key Innovators
             12.2.1 Mikro Mesa Technology
             12.2.2 Vuereal
             12.2.3 Uniqarta
             12.2.4 Allos Semiconductors
             12.2.5 Plessey Semiconductors
             12.2.6 Playnitride
             12.2.7 Ostendo Technologies
     12.3 Other Important Players
             12.3.1 Lumens
             12.3.2 Lumiode
             12.3.3 Rohinni
             12.3.4 Cooledge
             12.3.5 Nichia
     12.4 Research Institutes and Labs
             12.4.1 Industrial Technology Research Institute (ITRI) (EOSRL)
             12.4.2 Changchun Institute
             12.4.3 III-V Lab
             12.4.4 CEA-Leti
             12.4.5 Hong Kong University of Science and Technology
             12.4.6 Fraunhofer-Gesellschaft
     12.5 Input Suppliers
             12.5.1 Jasper Display
             12.5.2 Crystalwise Technology
             12.5.3 Unimicron
             12.5.4 Luminit
             12.5.5 Macroblock
             12.5.6 Himax
     12.6 Players Expected to Enter This Market
             12.6.1 Foxconn (Sharp/Elux/Innolux)
             12.6.2 BOE Technology
             12.6.3 AU Optronics
             12.6.4 LG Display

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 147)
     13.1 Discussion Guide
     13.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.3 Introducing RT: Real-Time Market Intelligence
     13.4 Related Reports
     13.5 Author Details

List of Tables (33 Tables)

Table 1 Major Secondary Sources
Table 2 Industry Capability Analysis: Pixel Production/Transfer Rate for Commercialization, By Device
Table 3 Micro-LED Market, By Application, 2017–2023 (USD Million)
Table 4 Micro-LED Display Market, By Application, 2017–2025 (Million Units)
Table 5 Micro-LED Market, By Application, 2017–2025 (USD Million)
Table 6 Comparison of Properties of Different Microdisplay Technologies
Table 7 Micro-LED Display Market for NTE Devices, By HMD Type, 2019–2025 (Million Units)
Table 8 Micro-LED Market for NTE Devices, By HMD Type, 2019–2025 (USD Million)
Table 9 Micro-LED Market for NTE Devices, By Region, 2019–2025 (USD Million)
Table 10 Micro-LED Market for AR HMD, By Region,  2019–2025 (USD Million)
Table 11 Micro-LED Display Market for VR HMD, By Region, 2020–2025 (USD Million)
Table 12 Micro-LED Market for Smartwatch, By Region, 2019–2025 (USD Million)
Table 13 Micro-LED Market for Television, By Region, 2020–2025 (USD Million)
Table 14 Micro-LED Display Market for HUD, By Region, 2021–2025 (USD Million)
Table 15 Micro-LED Market for Smartphone and Tablet, By Region, 2021–2025 (USD Million)
Table 16 Micro-LED Display Market for Laptop and Monitor, By Region, 2023–2025 (USD Million)
Table 17 Micro-LED Display Market for Digital Signage, By Region, 2017–2025 (USD Million)
Table 18 Micro-LED Lighting Market, By Type, 2017–2025 (USD Million)
Table 19 Micro-LED Lighting Market for General Lighting, By Region, 2017–2025 (USD Million)
Table 20 Micro-LED Market for Automotive Lighting, By Region, 2019–2025 (USD Million)
Table 21 Micro-LED Display Market, By Panel Size, 2017–2025 (USD Million)
Table 22 Micro-LED Market, By Vertical, 2017–2025 (USD Million)
Table 23 Micro-LED Market, By Region, 2017–2025 (USD Million)
Table 24 Micro-LED Display Market, By Region, 2017–2025 (USD Million)
Table 25 Micro-LED Lighting Market, By Region, 2017–2025 (USD Million)
Table 26 Micro-LED Display Market in APAC, By Application, 2017–2025 (USD Million)
Table 27 Micro-LED Market in APAC, By Country, 2017–2025 (USD Million)
Table 28 Micro-LED Market in North America, By Application, 2017–2025 (USD Million)
Table 29 Micro-LED Market in North America, By Country, 2017–2025 (USD Million)
Table 30 Micro-LED Market in Europe, By Application, 2017–2025 (USD Million)
Table 31 Micro-LED Market in Europe, By Country, 2017–2025 (USD Million)
Table 32 Micro-LED Market in RoW, By Application, 2017–2025 (USD Million)
Table 33 Key Player Market Ranking (2018)
 
 
List of Figures (59 Figures)
 
Figure 1 Micro-LED Market: Process Flow of Market Size Estimation
Figure 2 Research Design
Figure 3 Data Triangulation
Figure 4 Assumptions for Research Study
Figure 5 Global Micro-LED Market, 2017–2025 (USD Million)
Figure 6 Micro-LED Display Panel Market, By Application, 2017–2025 (USD Billion)
Figure 7 Micro-LED Display Market Share, By Vertical (2019, 2022, and 2025)
Figure 8 Small- and Medium-Sized Display Panels to Dominate Micro-LED Display Market By 2025
Figure 9 Micro-LED Display Market in APAC to Grow at Highest CAGR Between 2019 and 2025
Figure 10 Automotive Lighting to Dominate Micro-LED Lighting Market Between 2019 and 2025
Figure 11 Micro-LED Market Expected to Grow at High CAGR Between 2019 and 2025
Figure 12 Display to Dominate Micro-LED Market Between 2019 and 2025
Figure 13 Smartphone and Tablet Application to Account for Largest Share of Micro-LED Display Market By 2025
Figure 14 AR/VR Devices, Television, and Smartphones and Tablets to Exhibit Higher Growth in Micro-LED Display Market Between 2019 and 2025
Figure 15 Small- and Medium-Sized Panels to Account for Largest Share of Micro-LED Display Market By 2025
Figure 16 Micro-LED Display Market for Consumer Electronics to Grow at Highest CAGR During Forecast Period
Figure 17 APAC (Region), and Smartphones and Tablets (Application) to Hold Largest Share of Micro-LED Display Market By 2025
Figure 18 Micro-LED Display Market Commercialization, By Application and Geography
Figure 19 Micro-LED Display Market in South Korea to Grow at Highest CAGR Between 2019 and 2025
Figure 20 Micro-LED Market: Drivers, Restraints, Opportunities, and Challenges
Figure 21 Augmented Reality and Virtual Reality Market, 2015–2023 (USD Billion)
Figure 22 OLED Display Panel Market, 2014–2023 (USD Billion)
Figure 23 Wearable Display Market, 2018 vs 2023 (Million Units)
Figure 24 Wearable Display Market, 2015–2023 (USD Billion)
Figure 25 Micro-LED Value Chain
Figure 26 Micro-LED Market: Patent Analysis
Figure 27 Industry Capability Analysis: Pixel (RGB LED) Production/Transfer Rate for Commercialization, By Device
Figure 28 Small and Medium-Sized Device Analysis: Pixel Pitch, Pixels Per Panel, Pixel Size Requirement, and Expected Commercialization
Figure 29 Large Device Analysis: Pixel Pitch, Pixels Per Panel, Pixel Size Requirement, and Expected Commercialization
Figure 30 Micro-LED Display Market, By Application
Figure 31 Micro-LED Display Market, By Application, 2017–2025 (Million Units)
Figure 32 Micro-LED Display Market, By Application, 2017–2025 (USD Billion)
Figure 33 Micro-LED Display Market Share for NTE Devices, By Region, 2019 vs 2025
Figure 34 Micro-LED Display Market for Digital Signage, By Region, 2019 vs 2025 (USD Million)
Figure 35 Micro-LED Lighting Market, By Type
Figure 36 Micro-LED Lighting Market, By Type, 2019 vs 2025 (USD Million)
Figure 37 Micro-LED Display Market, By Panel Size
Figure 38 Micro-LED Market, By Panel Size, 2017–2025 (USD Billion)
Figure 39 Micro-LED Market for Microdisplays, 2019–2025 (USD Million)
Figure 40 Micro-LED Market for Small- and Medium-Sized Display Panel, 2019–2025 (USD Billion)
Figure 41 Micro-LED Display Market for Large Display Panels, 2017–2025 (USD Billion)
Figure 42 Micro-LED Market, By Vertical
Figure 43 Micro-LED Market, By Vertical, 2017–2025 (USD Billion)
Figure 44 Micro-LED Market, By Geography
Figure 45 Micro-LED Market, By Region, 2017–2025 (USD Billion)
Figure 46 APAC to Account for Largest Share in Micro-LED Market By 2025
Figure 47 Micro-LED Display Market: Rapidly Growing Markets New Hotspots
Figure 48 South Korean Micro-LED Display Market to Hold Major Share in APAC By 2025
Figure 49 Micro-LED Display Market in APAC, By Application, 2017–2025 (USD Billion)
Figure 50 US to Hold Major Share of Micro-LED Display Market in North America Between 2017 and 2025
Figure 51 Micro-LED Display Market in North America, By Application, 2017–2025 (USD Billion)
Figure 52 Rest of Europe to Hold Major Share of Micro-LED Display Market in Europe During Forecast Period
Figure 53 Micro-LED Display Market in Europe, By Application, 2017–2025 (USD Million)
Figure 54 Micro-LED Display Market in RoW, By Application, 2017–2025 (USD Million)
Figure 55 Key Developments By Leading Players in Micro-LED Market Between 2014 and 2018
Figure 56 Apple: Company Snapshot (2017)
Figure 57 Sony: Company Snapshot (2016)
Figure 58 Samsung Electronics: Company Snapshot (2017)
Figure 59 Epistar: Company Snapshot (2017)

Micro-LED is an emerging display and lighting technology with the potential to disrupt the traditional LCD display and LED lighting markets. Micro-LED technology is being developed to offer high brightness at low power. The micro-LED market is estimated to grow from USD 0.60 Billion in 2019 to USD 20.50 Billion by 2025, at a CAGR of 80.1% between 2019 and 2025.

Increasing demand for brighter and more power-efficient display panels for smartwatches, mobile devices, and NTE (AR/VR) devices is a major factor for the growth of the market. The rising interest of electronic giants Apple, Samsung, and Sony and interest shown by input/component suppliers in the supply chain also contribute to the market growth.

The micro-LED market can be broadly divided into display and lighting segments. The micro-LED display market is segmented on the basis of applications into smartwatches; near-to-eye (NTE) devices (AR & VR HMDs); televisions; smartphones and tablets; head-up displays (HUDs); laptops and monitors; and digital signage. The market is further segmented on the basis of display panel size into microdisplays; small- and medium-sized panels; and large panels. On the basis of verticals, the market is categorized into consumer electronics; advertisement; automotive; aerospace & defense; and others. The micro-LED lighting market is segmented on the basis of applications into general lighting and automotive lighting.

As of 2018, only the digital signage application is commercialized following Sony’s launch of micro-LED-based “CLEDIS” displays with 1.26mm pixel pitch and ~50-micron size RGB pixels. Considering the current manufacturing capabilities, prototype development, and the involvement of leading players, micro-LED-based smartwatches and NTE devices may enter the commercial phase in 2019. The micro-LED market for NTE devices is expected to grow at the highest CAGR between 2019 and 2025. Demand for micro-LED-based smartphone display panels is expected to grow rapidly; however, limitations in mass production may restrict the actual supply volumes. With the launch of new foundries or manufacturing plants, high demand can be fulfilled over time, and the shipment volume will increase rapidly between 2023 and 2025. Smartphones and tablets are high-volume applications, and once commercialized, the corresponding market share will rise to dominate the overall micro-LED display market. Small- and medium-sized display panels are expected to dominate the micro-LED display market by 2025 in terms of share, while the market for microdisplays is expected to witness the highest growth during the forecast period.

APAC is expected to dominate the micro-LED display market during the forecast period with the presence of leading brand product manufacturers, LED foundries, and display panel manufacturers in the region. Samsung, LG, Sony, Sharp, Panasonic, and several others will account for major demand for micro-LED display panels by 2025.

Significant research by input suppliers required for the establishment of a strong supply chain will drive the growth of the micro-LED display market. At present, the lack of an established supply chain and distributed patent portfolio are the major restraints for the growth of the market. The fast adoption of OLED technology in display devices may further hinder the commercialization and growth of micro-LED technology. Trade-off between pixel volume and pixel size; huge investment requirement in infrastructure, equipment, and process development; and need for different manufacturing processes as well as equipment compatibility are the key challenges faced by micro-LED technology developers. Low yield, high cost, and need for improving micro-LED production and mass transfer processes are also the major challenges for the commercialization of the technology in different products. The manufacturing of micro-LEDs on large silicon wafers and growing demand of wearable displays for smartwatches and AR/VR HMDs are the major opportunities for micro-LED developers.

Players will require increased investments to tackle these challenges and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the micro-LED market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2025.

Major companies operating in this market are Apple (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony (Japan), Samsung (South Korea), X-Celeprint (Ireland), Epistar (Taiwan), GLO AB (Sweden), VerLASE Technologies (US), JBD (China), and Aledia (France), among others. Some of the key innovators in the micro-LED market include Mikro Mesa Technology (Taiwan), VueReal (Canada), Uniqarta (US), ALLOS Semiconductors (Germany), Plessey Semiconductors (UK), PlayNitride (Taiwan), and Ostendo Technologies (US). Some other prominent players in the micro-LED market include Lumens (South Korea), Lumiode (US), Rohinni (US), Cooledge Lighting (Canada), and Nichia (Japan).

Some of the prominent research institutes undertaking research in the micro-LED market are Industrial Technology Research Institute (ITRI) (Taiwan), Changchun Institute (China), III-V Lab (France), CEA Leti (France), Hong Kong University of Science and Technology (Hong Kong), and Fraunhofer-Gesellschaft (Germany). Some of the input suppliers developing related materials and components in micro-LED market include Jasper Display (Taiwan), Crystalwise Technology (Taiwan), Unimicron (Taiwan), Luminit (US), Macroblock (Taiwan), and Max Technologies (Taiwan).

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