According to the new market research report “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″, published by MarketsandMarkets™, the Micro-LED Market size is estimated to grow from USD 409 million in 2020 to USD 18,835 million by 2026, at a CAGR of 89.3% between 2020 and 2026. The rising interest of leading electronics companies – Sony, Samsung, and Apple – has encouraged further investments in micro-LED technology and accelerated the schedule for its commercialization.
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Interest shown by input/component suppliers in supply chain to drive growth of micro-LED market
The commercialization of micro-LED technology depends not only on the production of micro-LEDs with high yield and mass transfer but also on the availability of drive circuit suppliers wafer suppliers, PCB suppliers, manufacturing equipment suppliers, and other component suppliers. There have been various developments in the market in 2017 and 2018 with the emergence of various input suppliers who are collaborating with micro-LED technology developers.
Leading wafer suppliers showing interest in the micro-LED market include Jasper Display (Taiwan) and Crystalwise Technology (Taiwan). Jasper Display, in 2018, unveiled a silicon backplane, eSP70, with a potential resolution of 1920×1080 and a pixel pitch of 8 microns. GLO AB (Sweden) used eSP70 for micro-LED development. In 2017, Crystalwise Technology announced the ability to produce 6-inch sapphire wafers for micro-LED technology.
Browse in-depth TOC on “Micro-LED Market“
32 – Tables
59 – Figures
162 – Pages
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Micro-LED market in APAC expected to grow at highest CAGR during forecast period
APAC is the leading region in terms of production and consumption of display panels. The region has witnessed significant advancements in display devices, along with rapid changes in terms of the adoption of new technologies.
APAC is an attractive market for smartphone, tablet, laptop, and television manufacturers, with major companies, such as Samsung Electronics and LG Display, based in South Korea, and Sony, Sharp, Panasonic, and a few others based in Japan. The region has registered the highest growth for consumer products such as smartphones, tablets, laptops, and TVs in the last three years.
Some of the leading players in this 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).
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OLED Market by Display Application (Smartphone, TV, Automotive, NTE), Panel Type (Rigid, Flexible), Technology, Size, Material (FMM RGB, WOLED), Lighting Application (General, Automotive), Panel Type, & Vertical, and Geography – Global Forecast to 2023