Global micro-LED market was valued at 267 Million US$ in 2018 and is projected to reach 9388 Million US$ by 2024
Tuesday, 02 Aug, 2022
Micro-LED is an emerging flat-panel display technology. Micro-LED displays consist of arrays of microscopic LEDs forming the individual pixel elements. Compared with LCD display technology and LED display technology, Micro-LED has the advantages of high luminous efficiency, low power consumption, fast response, and long life. At present, manufacturers including Sony, Apple, Samsung and others regard Micro-LED as the next-generation display technology and continue to strengthen research and development. Micro-LED display technology is the miniaturization of the traditional inorganic LED array. Each LED pixel with a size of 10 microns can be independently addressed and lit. In short, the natural performance advantages of inorganic LED materials make Micro-LED display a new technology with great potential. First, compared with OLED and quantum dot materials, inorganic LED materials not only have the characteristics of high luminous efficiency, but more importantly, they are not affected by water vapor, oxygen or high temperature. Secondly, as a display used in mobile phones, wearable devices, VR / AR devices, Micro-LED displays have the characteristics of low power consumption and high resolution, and have the same obvious advantages for improving the user experience.

Global micro-LED market was valued at 267 Million US$ in 2018 and is projected to reach 9388 Million US$ by 2024, at a CAGR of 81% during the forecast period. Due to its excellent performance, Micro-LEDs can be used in wearable watches, mobile phones, automotive displays, augmented reality / virtual reality, display screens, and televisions etc. However, due to technical difficulties and high processing costs, it is currently more suitable for high-end televisions, displays and automotive displays. Judging from the market size of Micro-LED, the application of large-sized displays will become mainstream, it is estimated that the output value of Micro-LEDs used in large-sized displays will account for more than 68% of the total applications by 2024.

At present, the technical bottlenecks faced by Micro-LEDs are divided into six aspects, including epitaxy and chips, transfer, full-color, power drive, backplane, inspection and repair technology. At present Micro-LED still grows GaNLEDWafer on sapphire substrate. However, some LED manufacturers are committed to GaNonSi technology, hoping to improve wavelength consistency and thickness uniformity, make the wavelength more concentrated, and greatly reduce the cost of back-end inspection of the epitaxial plant. The Micro-LED industry chain is long, and the upstream is mainly divided into three parts: equipment, raw materials, and assembly parts. The equipment mainly includes etching and coating equipment. The raw materials mainly include glass substrates, organic materials, polarizers, photoresists, packaging materials, etc.

Key players in global micro-LED market include: Apple, Sony, X-Celeprint, Samsung Electronics, OCULUS VR, Epistar, Verlase Technologies, Jbd, Aledia etc.