The global Micro Light Emitting Diode (LED) market was valued at US$ 3.00 million in 2019 and it is expected to reach US$ 14000 million by the end of 2030, growing at a CAGR of 114.25% during 2020-2030, revealed by QYResearch.
Micro-LED, also known as microLED, mLED or µLED, is an emerging flat panel display technology. Micro-LED displays consist of arrays of microscopic LEDs forming the individual pixel elements. When compared to the widespread LCD technology, Micro-LED displays offer better contrast, response times, and energy efficiency.
Along with OLEDs, Micro-LED are primarily aimed at small, low-energy devices such as smartwatches and smartphones. OLED and Micro-LED both offer greatly reduced energy requirements compared to conventional LCD systems. Unlike OLED, Micro-LED is based on conventional GaN LED technology, which offers far higher total brightness than OLED produces, as much as 30 times, as well as higher efficiency in terms of lux/W.
Global Micro Light Emitting Diode Market- Key Players
Samsung Electronics, Apple, Sony, Jbd, Lumens are key players in the global Micro Light Emitting Diode market presently. Since the Micro-LED industry is an emerging market, the competition pattern is changing fast. In 2019, Samsung Electronics, Sony and Apple accounted for 53.33%, 40.00% and 3.33% revenue share respectively. This year, the market share changes largely. Samsung Electronics’ revenue share surges to 81.51% while Sony’s share declines to 10.92%.
Micro-LEDs are still too expensive and not ready for mass production yet-even after years of R&D. Samsung and Apple have been pushing Micro LED technology, which makes the industry look forward to its development prospects, many companies have entered. For example: Plessey Semiconductors, AU Optronics, LG Display, Lumiode, etc.
Nowadays, there are five mainly applications of Micro-LED, including Cellphone, Wearable Watch Device, AR/VR, TV and Others. And Cellphone is the main application for Micro-LED, and the Cellphone reached a sales volume of approximately 33493 K Units in 2030, with 59.81% of global sales volume. The Micro LED technologies are advancing rapidly - and on all fronts, but there are still many challenges to overcome before mass production arrives. Micro-LED will continue to carry a high price premium compared to LCD and also OLED displays, but the high brightness and low power consumption will make MicroLEDs attractive for microdisplays and ultra-large displays.
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