USD 103.2 million
Micro LED Display Market Size, Share, Growth Analysis, By Display Pixel Density (Less than 3000ppi, 3000ppi to 5000ppi), By Technology, By Application, By Industry Vertical, By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2269 |
Region:
Global |
Published Date: December, 2024
Pages:
197
|Tables:
92
|Figures:
75
Micro LED Display Market Insights
Global Micro LED Display Market size was valued at USD 103.2 million in 2022 and is poised to grow from USD 490.08 million in 2023 to USD 51537.17 million by 2031, growing at a CAGR of 78.95% during the forecast period (2024-2031).
Many consumers want screens with clear pictures, which is driving the micro-LED industry. Consumers want better resolution and more accurate colors on their phones, tablets, and other devices. Micro-LED displays can offer much higher resolutions than what's currently available, which makes them attractive for companies trying to stay ahead. The increasing use of wearable devices like smartwatches and fitness trackers is also boosting the micro-LED industry. As more consumers use these gadgets, there's a growing demand for small, light, and energy-efficient screens. The global market for micro-LED displays is growing because consumers want screens that are bright and use less power, and big companies like Sony and Apple are starting to use them more. But these screens are expensive, which might slow down the market growth. On the other hand, the market could grow more because there's a higher demand for electronic devices like smartphones and TVs.
The micro-LED display market is all about making and selling super small light-emitting diode (LED) screens. These screens use tiny LEDs as pixels, which makes them show images with very sharp detail, bright colors, and high contrast while using less energy. One can find these screens in things like TVs, smartphones, laptops, tablets, and smartwatches, as well as in big screens for businesses. The market for micro-LED displays is growing because more consumers want better-looking screens that don't use as much power. They're popular because they offer great visual quality and help save energy, which is good for the environment and saves money on electricity bills. Micro-LEDs have a big chance to become popular in display markets and take over from LCD and OLED technologies in many devices like smartphones, HDTVs, smartwatches, and virtual reality headsets.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Large Scale Display
Fastest Growth
Micro Display
Growth Rate
78.95% CAGR
Global Micro LED Display Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Micro LED Display Market Segmental Analysis
Global Micro LED Display Market is segmented by Display Pixel Density, Technology, Application, Industry Vertical and region. Based on Display Pixel Density, the market is segmented into Less than 3000ppi, 3000ppi to 5000ppi, Greater than 5000ppi. Based on Technology, the market is segmented into Monolithic Micro-LED Displays, Heterogeneous Integration, Passive Matrix (PM), Active Matrix (AM). Based on Application, the market is segmented into Smartphone and Tablet, PC and Laptop, TV, and Smartwatch, Others. Based on Industry Vertical, the market is segmented into Consumer Electronics, Entertainment and Sports, Automotive, Retail and Government & Defence. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis By Product
The largest segment is the Large-scale Display, which includes big screens used for things like advertising or events. They are commonly found in outdoor billboards, stadium scoreboards, and indoor arenas. Large-scale displays are favoured for their ability to grab attention and effectively convey messages in public spaces with high foot traffic. Additionally, advancements in Micro LED technology have enabled these displays to offer exceptional picture quality, vivid colours, and energy efficiency, further enhancing their appeal for advertisers and event organizers. As a result, the demand for Large-scale Displays continues to grow, driven by the increasing need for impactful visual communication in various settings.
On the other hand, the fastest growing segment in the global micro LED display market is often the Small & Medium-sized Display, which are screens used in devices like smartphones and tablets. This segment is growing rapidly because more consumers are buying these devices, creating a higher demand for better quality screens.
Analysis By Application
The largest segment in the global micro-LED display market is the Smartphone and Tablet category, which includes devices like mobile phones and tablets. These gadgets are widely used by consumers around the world, leading to a high demand for Micro LED displays in this segment.
On the other hand, the fastest growing segment in the global micro-LED display market is the Smartwatch category. Smartwatches are becoming increasingly popular due to their convenience and advanced features. As a result, there is a rising demand for Micro LED displays in smartwatches as manufacturers strive to improve their visual quality and energy efficiency.
Analysis By Industry Vertical
The largest segment in the global micro-LED display market by industry vertical is Consumer Electronics, which includes products like smartphones, tablets, and TVs. These devices are widely used by consumers worldwide, driving a high demand for Micro LED displays in this segment.
On the other hand, the fastest growing segment is Automotive. With the increasing adoption of advanced display technologies in vehicles for infotainment systems, navigation, and digital dashboards, there's a rising demand for Micro LED displays in the automotive industry. Manufacturers are incorporating Micro LED displays to enhance the driving experience and provide advanced features to consumers. Additionally, the growing trend towards electric and autonomous vehicles further fuels the demand for Micro LED displays in this segment.
Global Micro LED Display Market By Product
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Micro LED Display Market Regional Insights
Asia-Pacific emerges as the largest region in the global micro-LED display market, primarily due to its dominance in micro-LED manufacturing and cost-effective mass production capabilities. The region is home to major manufacturing hubs, particularly in countries like China, South Korea, and Taiwan, where a significant portion of the world's micro-LED displays are produced. These countries benefit from well-established supply chains, advanced manufacturing technologies, and skilled labor forces, enabling efficient production and distribution of micro-LED displays on a large scale. Furthermore, Asia-Pacific is characterized by rapid technological advancements, particularly in consumer electronics, which fuels the demand for micro-LED displays in devices like smartphones, tablets, and TVs. The region's large consumer base, including emerging markets like India and Southeast Asia, contributes to the substantial market size of Micro LED displays in Asia-Pacific.
North America emerges as the fastest-growing region in the global micro-LED display market, driven by factors such as technological innovation, high disposable income, and strong demand for premium electronic devices. The region is known for its early adoption of advanced display technologies, particularly in applications such as smartphones, laptops, and automotive displays. North America benefits from a robust ecosystem of technology companies, research institutions, and venture capital investment, fostering innovation and development in Micro LED technology. Major tech giants and automotive manufacturers in the region invest heavily in research and development to lead in Micro LED displays, driving market growth. Additionally, North America has a tech-smart consumer base that values high-quality display technology, leading to a growing demand for micro-LED displays in premium consumer electronics and automotive applications. As a result, the region experiences rapid growth in the adoption of micro-LED displays, positioning it as a key growth market within the global micro-LED display market.
In Europe, there's a big focus on making good, top-notch displays for fancy cars and entertainment. European car companies are teaming up with Micro-LED makers to put super advanced displays in their cars. Also, in Europe, they really care about being eco-friendly, so they're looking into ways to make Micro-LEDs in a more sustainable way.
In the LAMEA region, consumers are slowly starting to use more micro-LED displays, mostly in things like phones and TVs. This is because more consumers here have money to spend, and the middle class is getting bigger. Even though this region isn't leading the way in making new technology, there's still a steady increase in how much consumers want micro-LED displays.
Global Micro LED Display Market By Geography
- Largest
- Fastest
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Micro LED Display Market Dynamics
Drivers
Efficiency in Power Consumption
- Micro-LED technology is good at saving energy, using a lot less power than other types of displays. Because consumers worldwide are worried about saving energy, more consumers are starting to use Micro-LED displays for different things. Especially in cars and big digital signs, this energy-saving technology is making a big difference.
Integration of Micro-LEDs in Automobiles
- Car companies are using more Micro-LED displays in cars for things like speedometers, displays on the windshield, and entertainment systems. Consumers want car displays that are smart and easy to use, which is why the market for these displays is growing.
Utilization of Micro-LEDs in Healthcare
- Micro-LED displays can be useful in hospitals and other healthcare settings. They can be used for things like taking pictures of the inside of your body, showing information during surgeries, and even in wearable devices that monitor your health. There's a chance to use them even more in medical situations.
Restraints
High Cost Associated
- Making Micro-LED displays is complicated and involves putting together lots of tiny LEDs. It's a costly process, which makes the displays expensive to produce. Because of this, many consumers might not want to buy them, especially in markets where consumers are careful about how much they spend.
Obstacles Posed by OLED Technology or Technological Hurdles
- Micro-LED displays must compete with OLED displays, which are already popular and known for their great picture quality. OLEDs are used in smartphones, TVs, and other electronics, so they're a big hurdle for Micro-LEDs. Making Micro-LED displays with smaller pixels and better resolutions is hard. But it's important to do this to compete in markets where consumers want clear, high-definition displays.
Industry Distribution of Micro-LED Market
- The Micro-LED Display Market is kind of all over the place, with different companies doing things their own way. Because of this, the quality of products and how well they work together can vary a lot. This might slow down how much the market grows and make it harder to set standards for everyone.
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Micro LED Display Market Competitive Landscape
The competitive landscape in the global micro LED display market has some large established players dominate with their extensive resources and technological expertise, there are also numerous smaller companies competing in niche segments or specific geographic regions. Thus, the market exhibits elements of both consolidation and fragmentation, providing opportunities for diverse players to thrive.
For instance, Apple is getting ready to make its own micro-LED smart displays for smartwatches. They want to start selling these new products by 2025. Instead of relying on Samsung, Apple is making its own micro-LED displays. They've spent about a billion dollars on research and development to make this happen.
Top Player’s Company Profile
- Apple Inc. (USA)
- Sony Corporation (Japan)
- Samsung Electronics Co. Ltd. (South Korea)
- LG Display Co. Ltd. (South Korea)
- Oculus VR (a subsidiary of Meta Platforms Inc.) (USA)
- PlayNitride Inc. (Taiwan)
- AU Optronics Corporation (Taiwan)
- Plessey Semiconductors Ltd. (United Kingdom)
- Epistar Corporation (Taiwan)
- VueReal Inc. (Canada)
- Ostendo Technologies Inc. (USA)
- MicroVision Inc. (USA)
- eLux Inc. (USA)
- Konka Group Co. Ltd. (China)
- Rohinni LLC (USA)
Recent Developments
- In January 2024, Apple announced their intention to incorporate Micro LED panels in their smartwatches, marking a shift in display technology for the company.
- In January 2023, South Korea and Taiwan collaborated to expand the Micro LED market and compete against China.
- In April 2023, Solomon Systech (International), a semiconductor company that focuses on designing, developing, and selling display IC products and system solutions, introduced the SSD2363. This display driver is claimed to be the world's first PM-MicroLED display driver, designed for the next generation of high-brightness displays used in wearables, home appliances, and industrial applications.
- In June 2023, a Chinese company called Jade Bird Display (JBD) made fast progress in developing microLED technology. They completed two rounds of funding with investments from companies like BYD, Geely, and Alibaba.
Micro LED Display Key Market Trends
- Increasing Interest in AR and VR: Because more and more consumers want immersive augmented reality and virtual reality experiences, they need displays that show clear pictures. Micro-LEDs are great for this because they respond quickly and show images well. They're essential for making AR and VR environments that feel real and exciting. This trend is a big reason why the market for Micro-LED displays is growing so much.
- Increasing Demand for High-Quality Displays: There is a growing trend towards higher resolution, brighter, and more energy-efficient displays across various applications such as smartphones, TVs, smartwatches, and automotive displays. Consumers are increasingly seeking immersive viewing experiences, which drive the adoption of Micro LED displays known for their superior visual quality and energy efficiency.
Micro LED Display Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global micro-LED display market analysis, there are several factors which shape the path of the intelligent apps market. The micro-LED display market is expected to grow a lot because there's a big demand for brighter and more energy-efficient screens in things like phones, TVs, computers, and smartwatches. Companies in this industry are using new and creative ways to make better products for customers. In the future, the global micro-LED display market will likely grow quickly because LED displays are efficient and big electronic companies are starting to like micro-LED displays more. But the cost of making micro-LED displays is high, which could slow down how much the market grows. In the global micro-LED display market, large-scale LED displays currently hold the largest segment. However, micro displays are experiencing faster growth. This growth is driven by the integration of Micro-LEDs into augmented reality glasses. Micro-LEDs enhance brightness, clarity, and energy efficiency in AR glasses, leading to improved performance and user experience. As a result, the integration of Micro-LEDs into AR glasses is contributing to the growth of AR applications. Asia-Pacific remains the largest region in the global micro-LED display market due to its manufacturing capabilities, North America emerges as the fastest-growing region driven by technological innovation and strong consumer demand. Both regions play crucial roles in shaping the growth and development of the global micro-LED display market. A major trend is the growing interest in augmented reality and virtual reality. Several new companies have joined the Micro-LED Display Market. They bring new ideas and use high-tech stuff like virtual reality to make events better. They also care about the environment and try to make events more eco-friendly. For instance, on January 4, 2023, Samsung Electronics showed off their new Neo QLED, MICRO LED, and Samsung OLED products, along with lifestyle items and accessories, before CES® 2023. The lineup has cool, creative stuff that focuses on making things connect better and giving customers a personalized experience.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 103.2 million |
| Market size value in 2031 | USD 51537.17 million |
| Growth Rate | 78.95% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Recent Developments
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Micro LED Display Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Micro LED Display Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Micro LED Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Micro LED Display Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Micro LED Display Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Micro LED Display Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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