Micro Light-Emitting Diode (LED) Display Market Report 2024

This Micro Light-Emitting Diode (LED) Display market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The micro light-emitting diode (LED) display market size has grown exponentially in recent years. It will grow from $0.64 billion in 2023 to $1.05 billion in 2024 at a compound annual growth rate (CAGR) of 64.3%. The growth in the historic period is attributed to the rising demand for high-resolution displays, a growing focus on customization and personalization, the expansion of digital platforms, increasing customer demand for display panels, and a higher need for brighter and more energy-efficient display panels.

The micro light-emitting diode (LED) display market size is expected to see exponential growth in the next few years. It will grow to $7.69 billion in 2028 at a compound annual growth rate (CAGR) of 64.4%. The growth in the forecast period is attributed to rising disposable income, increased investments, a demand for higher resolution displays, expanding applications beyond traditional displays, and the growing popularity of wearable technology. Key trends during this period include advancements in LED technology, investments in research and development, innovations in semiconductor materials, trends toward miniaturization in electronics, and developments in color conversion technologies.

The growing demand for consumer electronics is anticipated to drive the expansion of the micro light-emitting diode (LED) display market. Consumer electronics, which include electronic devices for personal and household use, are experiencing growth due to advancements in technology, increased disposable incomes, evolving consumer lifestyles, new product categories, marketing trends, and enhanced affordability and accessibility. Micro light-emitting diode (MicroLED) displays enhance image quality in consumer electronics by providing superior brightness, contrast, and energy efficiency, especially in compact devices. For instance, LG Corporation, a South Korea-based leader in consumer electronics and home appliances, reported in January 2023 that its revenue surpassed $60 billion for the first time, marking a 12.9% increase from 2021. This growth was driven by strong demand for premium home appliances and automotive parts, with the appliance segment experiencing substantial year-over-year gains. Consequently, the increasing demand for consumer electronics is fueling the growth of the micro light-emitting diode (LED) display market.

Leading companies in the micro light-emitting diode (LED) display market are focusing on developing advanced technologies, such as MicroLED, to enhance performance, improve energy efficiency, and broaden application across various sectors. Micro light-emitting diode (MicroLED) technology employs tiny, individually controlled LEDs to produce high-resolution, high-brightness displays with exceptional contrast and color accuracy. For example, in May 2023, LG Electronics, a South Korea-based electronic products provider, introduced the LG Magnit (model LBAF), an advanced MicroLED display aimed at virtual production studios and extended reality (XR) environments. This high-end display features a 1.5mm pixel pitch and state-of-the-art chip-on-board (COB) LED technology, delivering remarkable picture quality with deep blacks and vibrant colors.

In May 2023, Samsung Display, a South Korean company specializing in advanced display technologies, acquired eMagin for $218 million. This acquisition was part of Samsung Display's strategy to enhance its OLED microdisplay portfolio, with a particular focus on advancing its capabilities in augmented reality (AR) and virtual reality (VR) applications. eMagin, a U.S.-based company, is recognized for its innovative OLED microdisplays, which are designed to provide high-resolution, high-brightness performance for next-generation AR and VR devices.

Major companies operating in the micro light-emitting diode (LED) display market are Samsung Electronics, Hon Hai Precision Industry Co. Ltd., Sony Group Corporation, LG Electronics Inc., BOE Technology Group Co. Ltd., TCL Technology Group Corp., Sharp Corporation, ZTE Corporation, Kyocera Corporation, Innolux Corporation, Aixtron SE, Aledia S.A.S., PlayNitride Inc., Kopin Corporation, Epistar Corporation, Plessey Semiconductors Ltd., Jieying Optoelectronics Co. Ltd., Lumens Co. Ltd., Nanosys Inc., X-Celeprint Limited.

Asia-Pacific was the largest region in the micro light-emitting diode (LED) display market in 2023. The regions covered in the micro light-emitting diode (LED) display market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the micro light-emitting diode (LED) display market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Micro light-emitting diode (LED) display technology represents an advanced display system that uses microscopic LEDs as individual pixels to produce high-resolution, bright, and energy-efficient screens. This technology provides superior contrast, faster response times, and improved color accuracy compared to traditional displays such as LCD and OLED.

The main types of micro light-emitting diode (LED) displays include micro displays, large-scale displays, and small and medium-sized displays. Micro displays are compact, high-resolution screens that deliver detailed visual output and are often used in devices such as head-mounted displays, smartwatches, and portable projectors, offering clear and compact images in limited spaces. These displays find applications in various devices, including smartphones and tablets, personal computers and laptops, televisions, smartwatches, and more. They are utilized across several industry verticals, including consumer electronics, entertainment and sports, automotive, retail, government and defense, and others.

The micro light-emitting diode (LED) display market research report is one of a series of new reports that provides micro light-emitting diode (LED) display market statistics, including micro light-emitting diode (LED) display industry global market size, regional shares, competitors with a micro light-emitting diode (LED) display market share, detailed micro light-emitting diode (LED) display market segments, market trends and opportunities, and any further data you may need to thrive in the micro light-emitting diode (LED) display industry. This micro light-emitting diode (LED) display market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The micro light-emitting diode (LED) display market consists of sales of medical imaging displays, public information displays, indoor and outdoor advertising screens, commercial displays, and digital signage. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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