Lasers & Sources

Micro-LED market to nearly quadruple by 2022, says n-tech Research

July 20, 2018

The "Micro-LED Market Opportunities: 2018-2027" report forecasts rapid growth for the global micro-LED market.

The micro-LED market is set to quadruple in 4 years, based on demand for a variety of applications.

Industry analyst firm n-tech Research (Glen Allen, VA) has just published a new report titled, "Micro-LED Market Opportunities: 2018-2027" that forecasts the global micro-LED market will grow from $2.7 billion in revenues in 2019 to $10.7 billion in 2022. n-tech believes micro-LED technology is making substantial advances, which will produce substantial opportunities in the coming years. Additional details about the report including a full table of contents and sample are available at https://www.ntechresearch.com/market-reports/microled-market/.

The n-tech report describes the following about the micro-LED market:

Micro-LED technology has already proven itself superior to LCDs and OLEDs through numerous working prototypes evaluations. Such superiority will be an immediate enabling factor in near-eye AR/VR projectors and automotive HUDs. Such applications require a combination of small form factor, low weight, super-high resolution and super-high brightness.

The smart watch market is another lucrative opportunity for micro-LEDs. Here, the combination of extremely low power consumption and very strong brightness make micro-LEDs an obvious choice for wearable displays. n-tech sees this segment as generating $1.6 billion in 2022.

Growth is expected in extra-large displays. Such displays are used in video walls, digital cinemas, digital signage and home theaters, where n-tech believes they will greatly benefit from the scalability of micro-LED technology to large areas (already demonstrated by Sony and Samsung). Micro-LEDs also offer the "giant screen" sector the possibility of hybridization with other functionalities, and compatibility with flexible and transparent display designs.

n-tech says that micro-LEDs are not for everyone: n-tech believes that there are still applications where micro-LEDs will have a hard time penetrating. These include smartphones, tablets and regular TV market, where LCD and OLED technologies will continue to do well. Benefits from micro-LEDs are just not very obvious in these markets although low power consumption could be something of a selling feature for tablets and smart phones.

SOURCE: n-tech Research; https://www.ntechresearch.com/news-posts/global-micro-led-market/

About the Author

Gail Overton | Senior Editor (2004-2020)

Gail has more than 30 years of engineering, marketing, product management, and editorial experience in the photonics and optical communications industry. Before joining the staff at Laser Focus World in 2004, she held many product management and product marketing roles in the fiber-optics industry, most notably at Hughes (El Segundo, CA), GTE Labs (Waltham, MA), Corning (Corning, NY), Photon Kinetics (Beaverton, OR), and Newport Corporation (Irvine, CA). During her marketing career, Gail published articles in WDM Solutions and Sensors magazine and traveled internationally to conduct product and sales training. Gail received her BS degree in physics, with an emphasis in optics, from San Diego State University in San Diego, CA in May 1986.