DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The global 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%.
Growing demand for brighter and more power-efficient display panels is driving the growth of the micro-LED market
The most significant factor driving the growth of this market is the growing demand for brighter and more power-efficient display panels for smartwatches, mobile devices, and AR/VR devices.
High penetration of micro-LED-based products in the display panel market
The display panel market is huge, and many leading industry players are working on optimizing the existing display technologies such as LED, LCD, OLED, quantum dot LED, and e-paper. Samsung is pursuing quantum dot LED and OLED, while LG Display is focusing on OLED technology. The market is dominated by Samsung, LG Display, AU Optronics, Innolux, and Japan Display. These players may enter into partnerships or collaborations, or even acquire one of the many startups that are focusing on developing micro-LED technology.
Micro-LED technology, when mature, is expected to penetrate different display applications. The huge display market offers numerous opportunities for the development of micro-LED technology, which is much brighter and low-power-consuming compared with the existing technologies, such as LCD and OLED.
Various new patents are being registered in the micro-LED market
The micro-LED market is witnessing various changes and technological innovations in chip manufacturing, chip transfer, and many other areas. Micro-LED -based products are not yet commercialized, and players are focusing primarily on prototype development and technology protection.
As 0f 2019, more than 1500 patents have been filled by 125 companies. Some players have filed patents, while others have acquired the intellectual property via license agreements, mergers, and acquisitions. Leading players filing patents for micro-LED technology are Apple (LuxVue) (US) and Ostendo Technologies (US). Many R&D labs/institutes, such as CEA-Leti (France), Hong Kong University of Science and Technology (HKUST, Hong Kong), and the University of Illinois (US), have also filed patents related to micro-LED technology.
In North America, the micro-LED market in the US is expected to grow at the highest CAGR during the forecast period
The US is expected to be the major contributor to the micro-LED display market in North America because of its well-established economy and the presence of a prominent smartphone, AR/VR, television, and smart wearable suppliers in the country. The rapid adoption of the latest display technologies, along with the growing number of applications, is the main reason attributed to the expected prominent share of North America in the micro-LED display market. Many leading brands, such as HP, Dell, and Apple, are headquartered in the US. These factors are expected to contribute to North America playing a key role in the growth of the micro-LED display market.
- Growing Demand for Brighter and More Power-Efficient Display Panels for Smartwatches, Mobile Devices, and AR/VR Devices
- Increasing Interest of Electronics Giants
- Interest Shown by Input/Component Suppliers in Supply Chain
- No Established Supply Chain and Distributed Patent Portfolio
- Rising Demand for Oled
- High Growth of Flexible Display Market and Adoption of Folded Displays for Smartphones in Near Future
- Manufacturing of Micro-LEDs on Large Silicon Wafers
- Growing Demand for Wearable Displays for Smartwatches and AR/VR HMDs
- High Penetration of Micro-LED-Based Products in Display Panel Market
- Requirement of Huge Investments and Need for Different Manufacturing Processes as Well as Equipment Computability
- Low Yield, High Cost, and Need for Improving Micro-LED Production and Mass Transfer Processes
- Trade-Off Between Pixel Volume and Pixel Size
- Apple (Luxvue)
- Oculus VR (Infiniled)
- Samsung Electronics
- Glo Ab
- Verlase Technologies
- Jade Bird Display Inc.
- Mikro Mesa Technology
- Allos Semiconductors
- Plessey Semiconductors
- Ostendo Technologies
- Sharp Corporation (ELUX Inc.)
- University of Sheffield (Epipix Ltd.)
- PRP Optoelectronics
- Industrial Technology Research Institute (ITRI) (Eosrl)
- Changchun Institute
- Iii-V Lab
- Hong Kong University of Science and Technology
- Jasper Display
- Crystalwise Technology
- Foxconn (Sharp/ELUX/Innolux)
- BOE Technology
- AU Optronics
- LG Display
For more information about this report visit https://www.researchandmarkets.com/r/iykn9q