Micro-LED Market by Application (Display (Smartwatch, NTE Device (AR HMD, VR HMD), Smartphone, Television, HUD, Digital Signage, Laptop and Monitor, Lighting (General, Automotive), Display Panel Size, Vertical, and Region - Global Forecast to 2026
[165 Pages Report] The global micro-LED market size is projected to grow from USD 409 million in 2020 to USD 18,835 million by 2026; it is expected to grow at a CAGR of 89.3% from 2020 to 2026. The most significant factor driving the growth of this market is the increasing demand for better display solutions.
Micro-LED is an emerging display and lighting technology with the potential to disrupt the traditional LCD display and LED lighting markets. Display panels are used in various devices, such as TVs, notebooks, smartphones, and smartwatches. Currently, most of these devices are based on display technologies such as organic light-emitting diode (OLED) and LED-backlit LCD. The display market has been witnessing several developments in terms of picture quality, display sizes, and power consumption features. The LED lighting market has also exhibited huge growth in the past with the introduction of attractive and low-power-consuming products.
Micro-LED technology is being developed to create display panels that offer high brightness and low power consumption. The micro-LED market can be divided broadly into the micro-LED display and micro-LED lighting. Micro-LED display panels are expected to hold a larger market share than micro-LED lighting panels.
Micro-LED Market Dynamics
Driver: Increase in demand for microdisplays for NTE devices
Increasing demand for brighter and more power-efficient display panels for smartwatches, smartphones, televisions, and AR/VR devices is expected to significantly drive the development and subsequent commercialization of micro-LED display technology. The keen interest of technology heavyweights such as Apple, Samsung, and Sony is expected to result in the faster commercialization of micro-LED display technology. Samsung and Sony are focused on the large panel segment for signage and television applications, while Apple is likely to commercialize the technology for the smartwatch application by 2021. Significant ongoing research by input suppliers for the establishment of a strong supply chain will also drive the growth of the micro-LED display market.
Restraint: Lack of supply chain and patents
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.
Opportunity: Manufacturing of micro-LEDs on large silicon wafers
Manufacturing micro-LEDs on wafers has been a major challenge in terms of yield and cost. Most of the LED manufacturers today use sapphire wafers for manufacturing LEDs. These wafers are small in diameter and costly, which restrains the cost reduction of LED devices. ALLOS Semiconductors, Plessey Semiconductors, Aledia, and a few other players have developed GaN-on-silicon technology for manufacturing LEDs using conventional process. These companies are collaborating with the world’s leading LED foundries to increase the manufacturing capacity on a large scale.
This development is expected to increase the use of large-sized wafers (more than 4 inches) for manufacturing LED products. The technology is used for making high-quality GaN-on-Si epitaxial wafers by means of MOCVD/MOVPE. However, the technology is yet to be optimized for micro-LEDs. GaN-on-Si is a promising technology for the LED market, and once developed, it can significantly impact micro-LED technology in terms of manufacturing cost.
Challenge: Huge investment requirement in infrastructure, equipment, and process development; and need for different manufacturing processes as well as equipment compatibility
Manufacturers will have to adopt different manufacturing process and equipment or upgrade their existing systems to mass-produce micro-LED chips for different applications. Industry-leading LED manufacturers, such as Epistar (Taiwan) and Cree (US), are focusing on finding micro-LED development solutions that are compatible with the existing manufacturing processes. GLO AB (Sweden) demonstrated nanowires that can be grown on various substrates, such as sapphire and silicon, utilizing standard industry process equipment. Making the micro-LED fabrication process compatible with the existing fabrication plants is the major focus of industry-leading players.
Micro-LED technology-based displays are self-emitting, with no need for filters and liquid crystals, and industry-leading companies are finding ways to mass-produce RGB-based micro-LEDs. Down-converting micro-LEDs for display applications involves the manufacturing of very small pixel. To get down to very small pixel sizes, nanophosphors would probably not work, and even quantum dots will create some challenges due to some thermo-constraints, which make them impractical for very small pixels. Manufacturing small pixels based on micro-LED technology is comparatively easier than quantum dot or any other display technology.
Micro-LED display for smartphone application is expected to commercialize by 2021
The smartphone and tablet application are expected to account for the largest share of the micro-LED display market by 2026. The market for this application is expected to commercialize in 2021. Smartphones and tablets are high-volume applications, and once micro-LED display technology is commercialized, the corresponding market share will rise to dominate the overall micro-LED display market.
Consumer electronics vertical is anticipated to capture largest share in micro-LED market
The consumer electronics vertical is expected to hold the largest share of the micro-LED display market by 2026. The micro-LED display market for this vertical is also expected to grow at the highest CAGR between 2020 and 2026. The large market share and high growth rate are attributed to the anticipated adoption of micro-LED display panels in various consumer electronic devices, such as smartphones, televisions, smartwatches, TVs, laptops, and NTE devices. APAC is expected to dominate the global micro-LED market. The market in this region is expected to register the highest CAGR during the forecast period due to the presence of leading LED foundries, display panel manufacturers, and customers in the region. Recent technological advancements in micro-LED have led to an increased interest of leading APAC-based display panel manufacturers, such as Samsung, LG Display, AU Optronics, and BOE Technology. They are also focusing on R&D activities pertaining to micro-LED technology.
Key Market Players
Some of the leading players in the global micro-LED market are Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony Corp. (Japan), Samsung Electronics Co., Ltd. (South Korea), X-Celeprint Ltd. (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies LLC (US), JBD Inc. (JB-Display) (China), Aledia (France), Uniqarta, Inc. (US), ALLOS Semiconductors GmbH (Germany), Plessey Semiconductors Ltd. (UK), PlayNitride Inc. (Taiwan), Mikro Mesa Technology Co., Ltd. (Taiwan), VueReal Inc. (Canada), Ostendo Technologies, Inc. (US), Sharp Corporation (eLux Inc.) (Japan), University of Sheffield (EpiPix Ltd.) (UK), Micledi (Belgium), Microluce (Taiwan), Tianma (China), and Visionox (China). Other prominent players in the market are Lumens Co., Ltd. (South Korea), Lumiode, Inc. (US), Rohinni LLC (US), Cooledge Lighting Inc. (Canada), Nichia Corp. (Japan), PRP Optoelectronics (Wiltshire), CSOT (China), and Konka (China).
Apple has aggressive marketing and advertising strategies, along with high investments in R&D. The markets for Apple’s products and services are highly competitive, and the company is confronted by aggressive competition in all areas of its business. In the micro-LED market, Apple is expected to dominate the small display format as the technology commercializes. With the largest patent portfolio on micro-LED technology (including LuxVue’s expertise), and with the development of efficient and high-quality displays (based on micro-LED technology), the company can decrease its dependence on other display panel manufacturers. Apple smartwatch is expected to be the first product to have micro-LED display panels. The company has good business relations with foundry companies, e.g., TSMC. As of 2017, the company is investing heavily in the development of micro-LED technology for mass production; however, there has been no official prototype development in the market by Apple.
Scope of the Report
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Report Metric |
Details |
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Market size available for years |
2017–2025 |
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Base year considered |
2019 |
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Forecast period |
2020–2025 |
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Forecast units |
Value (USD) |
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Segments covered |
application, resolution and brightness, panel size, vertical, and geography |
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Geographies covered |
North America, Europe, APAC, and RoW |
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Companies covered |
Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony Corp. (Japan), Samsung Electronics Co., Ltd. (South Korea), X-Celeprint Ltd. (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies LLC (US), JBD Inc. (JB-Display) (China), Aledia (France), Uniqarta, Inc. (US), ALLOS Semiconductors GmbH (Germany), Plessey Semiconductors Ltd. (UK), PlayNitride Inc. (Taiwan), Mikro Mesa Technology Co., Ltd. (Taiwan), VueReal Inc. (Canada), Ostendo Technologies, Inc. (US), Sharp Corporation (eLux Inc.) (Japan), University of Sheffield (EpiPix Ltd.) (UK), Micledi (Belgium), Microluce (Taiwan), Tianma (China), and Visionox (China). Other prominent players in the market are Lumens Co., Ltd. (South Korea), Lumiode, Inc. (US), Rohinni LLC (US), Cooledge Lighting Inc. (Canada), Nichia Corp. (Japan), PRP Optoelectronics (Wiltshire), CSOT (China), and Konka (China). |
In this research report, the interactive kiosk market has been segmented on the basis of application, resolution and brightness, panel size, vertical, and geography.
Micro-LED market by Application
- Display
- Smartwatch
- Near-to-Eye (NTE) Device
- Television
- Smartphone and Tablet
- Head-up Display (HUD)
- Laptop and Monitor
- Digital Signage
- Lighting
- General Lighting
- Automotive Lighting
Micro-LED market by Resolution and Brightness
Micro-LED market by Panel Size
- Microdisplay
- Small and Medium-sized Panel
- Large Panel
Micro-LED market by Vertical
- Consumer Electronics
- Automotive
- Advertising (Digital Signage)
- Aerospace & Defense
- Others
Recent Developments
- In January 2020, Samsung Electronics announced that it will launch new modular micro-LED TVs for the consumer market in distinct size ranges—75", 88", 93", 110", 146", 150", 219", and 292".
- In February 2020, Samsung Electronics partnered with Niio, a premium media art platform. The objective of the partnership is to launch an open-call visual art competition to promote Samsung’s micro-LED displays.
- In October 2019, Apple announced the construction of a new facility for developing micro-LED technology for Apple products in collaboration with the local supply chain in Taiwan; it is located next to Apple’s Taoyuan plant.
Frequently Asked Questions (FAQ):
What are the opportunities for micro-LED manufactures?
Many smart wearable manufacturers are looking to extend their product range by adding small devices with screens. Smart wearables utilize small display panels in devices such as watches, wristbands, and smart glasses. Therefore, growing demand of wearable displays for smartwatches and AR/VR HMDs is the key opportunity for micro-LED manufactures.
Who are the major manufactures of micro-LED in the market?
Some of the leading players in the global micro-LED market are Apple Inc. (LuxVue) (US), Oculus VR (InfiniLED) (US), Sony Corp. (Japan), Samsung Electronics Co., Ltd. (South Korea), X-Celeprint Ltd. (Ireland), Epistar Corporation (Taiwan), GLO AB (Sweden), VerLASE Technologies LLC (US), JBD Inc. (JB-Display) (China),
What is the major drivers of micro-LED market.
Increasing demand for brighter and more power-efficient display panels for smartwatches, mobile devices, and AR/VR devices id the major factor driving the growth of the micro-LED market.
What are the prominent research companies associated with micro-LED market?
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 for micro-LEDs include Jasper Display Corp. (Taiwan), Crystalwise Technology, Inc. (Taiwan), Unimicron Corp. (Taiwan), Luminit, LLC (US), Macroblock, Inc. (Taiwan), and Max Technologies, Inc. (Taiwan).
Which region is most promising the micro-LED market?
APAC is expected to dominate the global micro-LED market. The market in this region is expected to register the highest CAGR during the forecast period due to the presence of leading LED foundries, display panel manufacturers, and customers in the region. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 21)
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 MICRO-LED DISPLAY MARKET: SEGMENTATION
FIGURE 2 MICRO-LED LIGHTING MARKET: SEGMENTATION
1.3.2 GEOGRAPHIC SEGMENTATION
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 PACKAGE SIZE
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 26)
2.1 RESEARCH DATA
FIGURE 3 MICRO-LED MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION
FIGURE 4 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Major secondary sources
2.1.1.2 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
2.2.1.1 Estimating market size by bottom-up approach
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Estimating market size by top-down approach
2.3 DATA TRIANGULATION
FIGURE 5 DATA TRIANGULATION
2.4 RESEARCH ASSUMPTIONS
2.4.1 ASSUMPTIONS FOR RESEARCH STUDY
3 EXECUTIVE SUMMARY (Page No. - 35)
FIGURE 6 MICRO-LED MARKET, 2017–2026 (USD MILLION)
FIGURE 7 MICRO-LED DISPLAY PANEL MARKET, BY APPLICATION, 2017–2026 (USD MILLION)
FIGURE 8 MICRO-LED DISPLAY MARKET, BY VERTICAL, 2017–2026 (USD MILLION)
FIGURE 9 SMALL AND MEDIUM-SIZED PANEL TO DOMINATE MICRO-LED DISPLAY MARKET BY 2026
3.1 COVID-19 IMPACT ANALYSIS ON MICRO-LED MARKET
FIGURE 10 IMPACT OF COVID-19 ON MICRO-LED MARKET
3.1.1 REALISTIC SCENARIO (POST-COVID-19)
3.1.2 OPTIMISTIC SCENARIO (POST-COVID-19)
3.1.3 PESSIMISTIC SCENARIO (POST-COVID-19)
FIGURE 11 MICRO-LED DISPLAY MARKET IN APAC TO GROW AT HIGHEST CAGR BETWEEN 2020 AND 2026
FIGURE 12 AUTOMOTIVE LIGHTING TO DOMINATE MICRO-LED LIGHTING MARKET BETWEEN 2020 AND 2026
4 PREMIUM INSIGHTS (Page No. - 41)
4.1 ATTRACTIVE OPPORTUNITIES FOR MICRO-LED MARKET GROWTH
FIGURE 13 CONSUMER VERTICAL IS EXPECTED TO GROW AT HIGHEST CAGR IN MICRO-LED DISPLAY MARKET FROM 2020 TO 2026
4.2 MICRO-LED MARKET FOR DISPLAY AND LIGHTING APPLICATIONS (2017–2026)
FIGURE 14 DISPLAY TO DOMINATE MICRO-LED MARKET BETWEEN 2020 AND 2026
4.3 SMARTPHONE, NTE DEVICE, AND TELEVISION APPLICATIONS TO DRIVE GLOBAL MICRO-LED DISPLAY MARKET
FIGURE 15 SMARTPHONE AND TABLET APPLICATION TO ACCOUNT FOR LARGEST SHARE OF MICRO-LED DISPLAY MARKET BY 2026
4.4 SMALL AND MEDIUM-SIZED PANEL TO GROW AT HIGHEST CAGR BETWEEN 2020 AND 2026
FIGURE 16 SMALL AND MEDIUM-SIZED PANEL TO ACCOUNT FOR LARGEST SHARE OF MICRO-LED DISPLAY MARKET BY 2026
4.5 MICRO-LED DISPLAY MARKET, BY VERTICAL
FIGURE 17 CONSUMER ELECTRONICS VERTICAL TO HOLD LARGEST SHARE OF DOMINATE MICRO-LED DISPLAY MARKET DURING FORECAST PERIOD
4.6 LEADING APPLICATIONS AND REGIONS IN MICRO-LED DISPLAY MARKET BY 2026
FIGURE 18 APAC AND SMARTPHONE AND TABLET APPLICATION TO HOLD LARGEST SHARE OF MICRO-LED DISPLAY MARKET, BY 2026
FIGURE 19 MICRO-LED DISPLAY MARKET IN CHINA TO GROW AT HIGHEST CAGR FROM 2020 TO 2026
5 MARKET OVERVIEW (Page No. - 45)
5.1 MARKET DYNAMICS
FIGURE 20 MICRO-LED MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.1.1 DRIVERS
5.1.1.1 Growing 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
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 for wearable displays for smartwatches and AR/VR HMDs
5.1.3.3 High penetration of micro-LED-based products in display panel market
5.1.4 CHALLENGES
5.1.4.1 Requirement of huge investments and need for different manufacturing processes as well as equipment computability
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. - 53)
6.1 INTRODUCTION
6.2 VALUE CHAIN ANALYSIS
FIGURE 21 MICRO-LED VALUE CHAIN
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 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
FIGURE 22 MICRO-LED MARKET: PATENT ANALYSIS
6.4 MICRO-LED: CURRENT CAPABILITY AND TECHNOLOGY STATUS
6.5 COMMERCIALIZATION POTENTIAL OF MICRO-LED IN DIFFERENT DEVICES
TABLE 1 INDUSTRY CAPABILITY ANALYSIS: PIXEL PRODUCTION/TRANSFER RATE FOR COMMERCIALIZATION, BY DEVICE
FIGURE 23 PIXEL (RGB LED) PRODUCTION/TRANSFER RATE FOR COMMERCIALIZATION, BY DEVICE
6.5.1 DEVICE COMPARISON AND SPECIFICATION REQUIREMENT
6.5.1.1 Small and medium-sized devices
FIGURE 24 SMALL AND MEDIUM-SIZED DEVICE ANALYSIS: PIXEL PITCH, PIXELS PER PANEL, PIXEL SIZE REQUIREMENT, AND EXPECTED COMMERCIALIZATION
6.5.1.2 Large devices
FIGURE 25 LARGE DEVICE ANALYSIS: PIXEL PITCH, PIXELS PER PANEL, PIXEL SIZE REQUIREMENT, AND EXPECTED COMMERCIALIZATION
6.6 IMPACT OF COVID-19 ON MICRO-LED MARKET
7 MICRO-LED MARKET, BY APPLICATION (Page No. - 62)
7.1 INTRODUCTION
TABLE 2 MICRO-LED MARKET, BY APPLICATION, 2017–2026 (USD MILLION)
7.2 DISPLAY
FIGURE 26 MICRO-LED DISPLAY MARKET, BY APPLICATION
FIGURE 27 MICRO-LED DISPLAY MARKET, BY APPLICATION, 2017–2026 (MILLION UNITS)
TABLE 3 MICRO-LED DISPLAY MARKET, BY APPLICATION, 2017–2026 (THOUSAND UNITS)
FIGURE 28 MICRO-LED DISPLAY MARKET, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 4 MICRO-LED DISPLAY MARKET, BY APPLICATION, 2017–2026 (USD MILLION)
7.2.1 NEAR-TO-EYE (NTE) DEVICES
TABLE 5 COMPARISON OF PROPERTIES OF DIFFERENT MICRODISPLAY TECHNOLOGIES
TABLE 6 MICRO-LED DISPLAY MARKET FOR NTE DEVICE, BY HMD TYPE, 2017–2026 (MILLION UNITS)
TABLE 7 MICRO-LED DISPLAY MARKET FOR NTE DEVICE, BY HMD TYPE, 2017–2026 (USD MILLION)
FIGURE 29 MICRO-LED DISPLAY MARKET SHARE FOR NTE DEVICES, BY REGION, 2020 VS. 2026
TABLE 8 MICRO-LED DISPLAY MARKET FOR NTE DEVICE, BY REGION, 2017–2026 (USD MILLION)
7.2.1.1 AR HMD
7.2.1.1.1 Global spread of COVID-19 is major factor responsible for declining revenue in 2020
TABLE 9 MICRO-LED DISPLAY MARKET FOR AR HMD, BY REGION, 2017–2026 (USD MILLION)
7.2.1.2 VR HMD
7.2.1.2.1 Surge in demand for VR HMD in numerous applications is key factor fueling demand for micro-LEDs
TABLE 10 MICRO-LED DISPLAY MARKET FOR VR HMD, BY REGION, 2017–2026 (USD MILLION)
7.2.2 SMARTWATCH
7.2.2.1 Growing demand for high brightness display smartwatches is propelling demand for micro-LEDs
TABLE 11 MICRO-LED DISPLAY MARKET FOR SMARTWATCH, BY REGION, 2017–2026 (USD MILLION)
7.2.3 TELEVISION
7.2.3.1 Problems associated with mass-production of televisions using micro-LED technology likely to be potential restraint for market growth
TABLE 12 MICRO-LED DISPLAY MARKET FOR TELEVISION, BY REGION, 2017–2026 (USD MILLION)
7.2.4 HEAD-UP DISPLAY (HUD)
7.2.4.1 Growing demand for better head-up displays in automotive sector driving market growth
TABLE 13 MICRO-LED DISPLAY MARKET FOR HUD, BY REGION, 2017–2026 (USD MILLION)
7.2.5 SMARTPHONE AND TABLET
7.2.5.1 High luminosity and power efficiency offered by micro-LED technology likely to boost adoption among smartphone manufacturers
TABLE 14 MICRO-LED DISPLAY MARKET FOR SMARTPHONE AND TABLET, BY REGION, 2017–2026 (USD MILLION)
7.2.6 MONITOR AND LAPTOP
7.2.6.1 Limitations associated with implementing micro-LED technology in large-format devices may result in late commercialization of micro-LED technology for laptops and monitors
TABLE 15 MICRO-LED DISPLAY MARKET FOR LAPTOP AND MONITOR, BY REGION, 2017–2026 (USD MILLION)
7.2.7 DIGITAL SIGNAGE
7.2.7.1 High brightness and better contrast ratio are driving adoption of micro-LED technology in digital signage
TABLE 16 MICRO-LED DISPLAY MARKET FOR DIGITAL SIGNAGE, BY REGION, 2017–2026 (USD MILLION)
7.3 LIGHTING
FIGURE 30 MICRO-LED LIGHTING MARKET, BY TYPE
FIGURE 31 MICRO-LED LIGHTING MARKET, BY APPLICATION, 2020 VS. 2026 (USD MILLION)
TABLE 17 MICRO-LED LIGHTING MARKET, BY APPLICATION, 2017–2026 (USD MILLION)
7.3.1 GENERAL LIGHTING
7.3.1.1 Extensive utilization in development of backlit lighting panels for consumer products anticipated to drive growth of micro-LED market for general lighting
TABLE 18 MICRO-LED LIGHTING MARKET FOR GENERAL LIGHTING, BY REGION, 2017–2026 (USD MILLION)
7.3.2 AUTOMOTIVE LIGHTING
7.3.2.1 Surging demand for smart headlights in automotive sector anticipated to encourage adoption of micro-LEDs
TABLE 19 MICRO-LED LIGHTING MARKET FOR AUTOMOTIVE LIGHTING, BY REGION, 2017–2026 (USD MILLION)
8 MICRO-LED DISPLAY MARKET, BY RESOLUTION AND BRIGHTNESS (Page No. - 81)
8.1 RESOLUTION
8.1.1 INCREASING DEMAND FOR HIGH-RESOLUTION DISPLAYS DRIVES MICRO-LED DISPLAY MARKET
FIGURE 32 MICRO-LED DISPLAY MARKET, BY RESOLUTION TYPE
8.2 BRIGHTNESS
8.2.1 MICRO-LEDS CAN RENDER MORE BRIGHTNESS THAN ANY OTHER DISPLAY TECHNOLOGY
FIGURE 33 MICRO-LED DISPLAY MARKET, BY BRIGHTNESS
8.3 MICRO-LED PRODUCT LAUNCHES AND THEIR FEATURES
9 MICRO-LED DISPLAY MARKET, BY PANEL SIZE (Page No. - 84)
9.1 INTRODUCTION
FIGURE 34 MICRO-LED DISPLAY MARKET, BY PANEL SIZE
FIGURE 35 MICRO-LED DISPLAY MARKET, BY PANEL SIZE, 2017–2026 (USD MILLION)
TABLE 20 MICRO-LED DISPLAY MARKET, BY PANEL SIZE, 2017–2026 (USD MILLION)
9.2 MICRODISPLAY
9.2.1 COMPANIES ARE FOCUSING ON DEVELOPING PROTOTYPES OF MICRODISPLAYS
FIGURE 36 MICRO-LED DISPLAY MARKET FOR MICRODISPLAYS, 2017–2026 (USD MILLION)
9.3 SMALL AND MEDIUM-SIZED PANEL
9.3.1 MASS PRODUCTION OF MICRO-LED-BASED SMALL AND MEDIUM-SIZED PANELS CURRENTLY HAS FEW UNRESOLVED ISSUES
FIGURE 37 MICRO-LED DISPLAY MARKET FOR SMALL AND MEDIUM-SIZED DISPLAY PANEL, 2017–2026 (USD MILLION)
9.4 LARGE PANEL
9.4.1 MICRO-LED-BASED LARGE DISPLAY PANELS INCREASE COST OF END PRODUCTS
FIGURE 38 MICRO-LED DISPLAY MARKET FOR LARGE DISPLAY PANELS, 2017–2026 (USD MILLION)
10 MICRO-LED DISPLAY MARKET, BY VERTICAL (Page No. - 90)
10.1 INTRODUCTION
FIGURE 39 MICRO-LED DISPLAY MARKET, BY VERTICAL
FIGURE 40 MICRO-LED DISPLAY MARKET, BY VERTICAL, 2017–2026 (USD MILLION)
TABLE 21 MICRO-LED DISPLAY MARKET, BY VERTICAL, 2017–2025 (USD MILLION)
10.2 CONSUMER ELECTRONICS
10.2.1 CONSUMER ELECTRONICS IS MOST ATTRACTIVE SEGMENT IN MICRO-LED DISPLAY MARKET
10.3 ADVERTISING
10.3.1 DIGITAL SIGNAGE IS MOST PROMISING SEGMENT IN MICRO-LED DISPLAY MARKET FOR ADVERTISING
10.4 AUTOMOTIVE
10.4.1 HUD HOLDS HIGHEST POTENTIAL IN MICRO-LED MARKET FOR AUTOMOTIVE VERTICAL
10.5 AEROSPACE & DEFENSE
10.5.1 AR AND VR HMDS ARE KEY APPLICATIONS FOR MICRO-LED DISPLAYS IN AEROSPACE & DEFENSE VERTICAL
10.6 OTHERS
10.6.1 NTE DEVICES ARE EXPECTED TO CONTRIBUTE TO OVERALL GROWTH OF MICRO-LED DISPLAY MARKET FOR OTHERS SEGMENT
11 MICRO-LED MARKET, BY REGION (Page No. - 95)
11.1 INTRODUCTION
FIGURE 41 MICRO-LED MARKET, BY REGION
FIGURE 42 MICRO-LED MARKET, BY REGION, 2017–2026 (USD MILLION)
TABLE 22 MICRO-LED MARKET, BY REGION, 2017–2026 (USD MILLION)
TABLE 23 MICRO-LED DISPLAY MARKET, BY REGION, 2017–2026 (USD MILLION)
TABLE 24 MICRO-LED LIGHTING MARKET, BY REGION, 2017–2026 (USD MILLION)
FIGURE 43 APAC TO ACCOUNT FOR LARGEST SHARE IN MICRO-LED MARKET BY 2026
FIGURE 44 MICRO-LED DISPLAY MARKET: RAPIDLY GROWING MARKETS & NEW HOTSPOTS
11.2 APAC
FIGURE 45 APAC: MICRO-LED DISPLAY MARKET SNAPSHOT
FIGURE 46 MICRO-LED DISPLAY MARKET IN APAC, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 25 MICRO-LED DISPLAY MARKET IN APAC, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 26 MICRO-LED DISPLAY MARKET IN APAC, BY COUNTRY, 2017–2026 (USD MILLION)
11.2.1 SOUTH KOREA
11.2.1.1 Presence of key players is driving market growth in South Korea
11.2.2 CHINA
11.2.2.1 COVID-19 is forcing key players to retract investments
11.2.3 JAPAN
11.2.3.1 Presence of leading display panel manufacturers is driving Japanese micro-LED market
11.2.4 REST OF APAC
11.2.4.1 Taiwan, Hing Kong, Singapore, and Malaysia are attracting foreign investments
11.3 NORTH AMERICA
FIGURE 47 NORTH AMERICA: MICRO-LED DISPLAY MARKET SNAPSHOT
FIGURE 48 MICRO-LED DISPLAY MARKET IN NORTH AMERICA, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 27 MICRO-LED DISPLAY MARKET IN NORTH AMERICA, BY APPLICATION,2017–2026 (USD MILLION)
TABLE 28 MICRO-LED DISPLAY MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2026 (USD MILLION)
11.3.1 US
11.3.1.1 Presence of consumer electronics manufacturers expected to boost micro-LED market growth in US
11.3.2 CANADA
11.3.2.1 Canada’s growing economy holds potential for growth
11.3.3 MEXICO
11.3.3.1 Rising disposable income levels and increase in mid-income group population drive Mexican micro-LED market
11.4 EUROPE
FIGURE 49 EUROPE: MICRO-LED DISPLAY MARKET SNAPSHOT
FIGURE 50 MICRO-LED DISPLAY MARKET IN EUROPE, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 29 MICRO-LED DISPLAY MARKET IN EUROPE, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 30 MICRO-LED DISPLAY MARKET IN EUROPE, BY COUNTRY, 2017–2026 (USD MILLION)
11.4.1 UK
11.4.1.1 Market stakeholders to engage in strategic partnerships with micro-LED display suppliers
11.4.2 GERMANY
11.4.2.1 Germany holds major market share in European market
11.4.3 FRANCE
11.4.3.1 Advertising is key vertical in France for micro-LED market
11.4.4 REST OF EUROPE
11.4.4.1 Demand in consumer electronics expected to boost micro-LED market in Rest of Europe
11.5 REST OF THE WORLD (ROW)
11.5.1 ADOPTION OF MICRO-LED TECHNOLOGY IS IN NASCENT STAGE IN ROW
FIGURE 51 MICRO-LED DISPLAY MARKET IN ROW, BY APPLICATION, 2017–2026 (USD MILLION)
TABLE 31 MICRO-LED DISPLAY MARKET IN ROW, BY APPLICATION, 2017–2026 (USD MILLION)
12 COMPETITIVE LANDSCAPE (Page No. - 114)
12.1 OVERVIEW
FIGURE 52 KEY DEVELOPMENTS BY LEADING PLAYERS IN MICRO-LED MARKET, 2014–2020
12.2 MICRO-LED MARKET: RANKING ANALYSIS (2018)
TABLE 32 KEY PLAYER MARKET RANKING (2019)
12.3 COMPETITIVE SCENARIO
12.3.1 PRODUCT DEVELOPMENTS
12.3.2 AGREEMENTS
12.3.3 EXPANSIONS
12.3.4 MERGERS, ACQUISITIONS, AND INVESTMENTS
12.4 COMPETITIVE LEADERSHIP MAPPING, 2019
12.4.1 VISIONARY LEADERS
12.4.2 DYNAMIC DIFFERENTIATORS
12.4.3 INNOVATORS
12.4.4 EMERGING COMPANIES
FIGURE 53 MICRO-LED MARKET (GLOBAL) COMPETITIVE LEADERSHIP MAPPING, 2019
12.5 STRENGTH OF PRODUCT PORTFOLIO
FIGURE 54 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN MICRO-LED MARKET
12.6 BUSINESS STRATEGY EXCELLENCE
FIGURE 55 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN MICRO-LED MARKET
13 COMPANY PROFILES (Page No. - 123)
(Business Overview, Products/solutions/services Offered, Recent Developments, SWOT Analysis, and MnM View)*
13.1 KEY PLAYERS
13.1.1 APPLE (LUXVUE)
FIGURE 56 APPLE: COMPANY SNAPSHOT
13.1.2 OCULUS VR (INFINILED)
13.1.3 SONY
FIGURE 57 SONY: COMPANY SNAPSHOT
13.1.4 SAMSUNG ELECTRONICS
FIGURE 58 SAMSUNG ELECTRONICS: COMPANY SNAPSHOT
13.1.5 X-CELEPRINT
13.1.6 EPISTAR
FIGURE 59 EPISTAR: COMPANY SNAPSHOT
13.1.7 GLO AB
13.1.8 VERLASE TECHNOLOGIES
13.1.9 JADE BIRD DISPLAY INC.
13.1.10 ALEDIA
13.2 KEY INNOVATORS
13.2.1 MIKRO MESA TECHNOLOGY
13.2.2 VUEREAL
13.2.3 UNIQARTA
13.2.4 ALLOS SEMICONDUCTORS
13.2.5 PLESSEY SEMICONDUCTORS
13.2.6 PLAYNITRIDE
13.2.7 OSTENDO TECHNOLOGIES
13.2.8 SHARP CORPORATION (ELUX INC.)
13.2.9 UNIVERSITY OF SHEFFIELD (EPIPIX LTD.)
13.2.10 MICLEDI
13.2.11 MICROLUCE
13.2.12 TIANMA
13.2.13 VISIONOX
13.3 OTHER IMPORTANT PLAYERS
13.3.1 LUMENS
13.3.2 LUMIODE
13.3.3 ROHINNI
13.3.4 COOLEDGE
13.3.5 NICHIA
13.3.6 PRP OPTOELECTRONICS
13.3.7 CSOT
13.3.8 KONKA
13.4 RESEARCH INSTITUTES AND LABS
13.4.1 INDUSTRIAL TECHNOLOGY RESEARCH INSTITUTE (ITRI) (EOSRL)
13.4.2 CHANGCHUN INSTITUTE
13.4.3 III-V LAB
13.4.4 CEA-LETI
13.4.5 HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY
13.4.6 FRAUNHOFER-GESELLSCHAFT
13.5 INPUT SUPPLIERS
13.5.1 JASPER DISPLAY
13.5.2 CRYSTALWISE TECHNOLOGY
13.5.3 UNIMICRON
13.5.4 LUMINIT
13.5.5 MACROBLOCK
13.5.6 HIMAX
13.6 SIGNIFICANT DISPLAY PLAYERS ENTERING MARKET
13.6.1 FOXCONN (SHARP/ELUX/INNOLUX)
13.6.2 BOE TECHNOLOGY
13.6.3 AU OPTRONICS
13.6.4 LG DISPLAY
*Details on Business Overview, Products/solutions/services Offered, Recent Developments, SWOT Analysis, and MnM View might not be captured in case of unlisted companies.
14 APPENDIX (Page No. - 159)
14.1 DISCUSSION GUIDE
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
14.3 RELATED REPORTS
14.4 AUTHOR DETAILS
The study involved four major activities for estimating the size of the global micro-LED market. Exhaustive secondary research was done to collect information on the market, including its peer markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources include corporate filings (such as annual reports, press releases, investor presentations, and financial statements); trade, business, and professional associations; white papers, micro-LED-related journals, certified publications, and articles from recognized authors; gold and silver standard websites; directories; and databases. Secondary data has been collected and analyzed to arrive at the overall market size, which has further been validated through primary research. The secondary data has been collected and analyzed to arrive at the global micro-LED market size, which has also been validated by primary research.
Primary Research
In the primary research process, various primary sources from the supply and demand sides have been interviewed to obtain the qualitative and quantitative information relevant to this report. Primary sources from the supply side include key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants from various key companies and organizations operating in the micro-LED market.
Primary research has also been conducted to identify segmentation types and key players, as well as to analyze the competitive landscape, key market dynamics (drivers, restraints, opportunities, and challenges), and major growth strategies adopted by market players. During market engineering, both top-down and bottom-up approaches have been extensively used, along with several data triangulation methods, to estimate and forecast the market, including the overall micro-LED market segments and subsegments listed in this report. Extensive qualitative and quantitative analyses have been performed during the complete market engineering process to list the key information/insights throughout the report. Primary data has been collected through questionnaires, e-mails, and telephonic interviews.
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Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches, along with several data triangulation methods, have been used to estimate and validate the size of the overall market and other dependent submarkets listed in this report. Extensive qualitative and quantitative analyses have been performed during market engineering to list key information/insights.
Major players in the micro-LED market have been identified through secondary research, and their market ranking has been determined through primary and secondary research. This involved a study of the annual and financial reports of top market players and interviews with industry experts (such as CEOs, vice presidents, directors, and marketing executives) for key insights—both quantitative and qualitative.
All percentage shares, splits, 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. This data has been consolidated and supplemented with detailed inputs and analysis from MarketsandMarkets, and presented in this report.
Data Triangulation
After arriving at the overall micro-LED market size through the process explained above, the total market has been split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all the segments, market breakdown and data triangulation procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.
Study Objectives
- To define, describe, forecast, and analyze the micro-LED market by panel size, vertical, application, and region
- To forecast the market for various segments for four main regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
- To provide detailed information regarding the major factors influencing the growth of the micro-LED market (drivers, restraints, opportunities, and challenges)
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for various stakeholders by identifying high-growth segments of the micro-LED market
- To strategically profile the key players and comprehensively analyze their market position in terms of their market ranking and core competencies, and to analyze the competitive landscape across the ecosystem
Available Customization
With the given market data, MarketsandMarkets offers customizations according to a company’s specific needs. The following customization options are available for the micro-LED market report.
- Detailed analysis and profiling of additional market players (up to 5)
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Growth opportunities and latent adjacency in Micro-LED Market