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. 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.
According to a release by SBWire, the Micro-LED market for NTE devices will grow at highest CAGR during the forecast period. 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.
The luminosity (brightness) and resolution of micro-LED technology would be the key driving force for the adoption of the technology in NTE devices. AR devices require high resolution and brightness to match the real-world visibility. The fast response time of micro-LED displays is also suited for AR applications. Micro-LED display-based VR solutions can be implemented for diverse end uses, such as entertainment, gaming, training, and research.
Increasing demand for brighter and more power-efficient display panels for smart watches, 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. Rising demand for OLED displays and the lack of an established supply chain for micro-LED, along with distributed patent portfolios, are the major restraints for the growth of the micro-LED market.
It is further reported that the APAC will dominate the micro-LED market 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. The report profiles the key players in the market. Major companies operating in this market are Apple, Sony, Samsung, X-Celeprint, Epistar, GLO AB, VerLASE Technologies, JBD and Aledia among others.
Few of the key innovators in the micro-LED market reported are Mikro Mesa Technology, VueReal Uniqarta, ALLOS Semiconductors, Plessey Semiconductors, PlayNitride, and Ostendo Technologies.