The global micro-LED display market size was US$ 1041.0 million in 2021. The global micro-LED display market is forecast to grow to US$ 91384.2 million by 2030 by growing at a compound annual growth rate (CAGR) of 75.2% during the forecast period from 2022 to 2030.

Micro-LEDs are used to deliver high wavelength uniformity for fine pixel pitch display. Micro LED display consumes less power and offers ultrahigh definition picture quality. In addition, it also offers better colour saturation and increased brightness than other technology.

Factors Influencing the Market

The rising demand for bright and power-efficient display panels will surge the demand for micro-LED displays during the forecast period.

The benefits of micro-LEDs over conventional display technology will contribute to the growth of the market. For instance, micro-LEDs feature enhanced response time and require less power than LEDs and OLEDs. Moreover, demand for brighter and power-efficient devices is increasing from end-users, which will be opportunistic for the micro-LED display market during the analysis period.

The high cost of the micro-LED display may limit the growth of the market. On the contrary, growing developments in the consumer electronics sector will propel the micro-LED display market forward.

Prominent electronics brands, such as Apple and LG, are also unveiling new technology using the micro-LED display. For instance, Apple integrated micro-LED technology in its apple watch and iPhones in 2018. In the same year, LG introduced its smartphone named LG G7 ThinQ, incorporated with a 6.1-inch micro-LED full vision display. Thus, the growing popularity of micro-LEDs will escalate the growth of the market in the coming years.

COVID-19 Impact Analysis

The ongoing COVID-19 pandemic has halted the growth of the global micro-LED market due to many factors. Lockdown in countries like China and India lasted for a long time. Manufacturing units were closed as a result of that, which negatively impacted the global micro-LED display market. However, companies have adopted remote working practices, which upsurged the demand for laptops and other devices. Thus, it has been beneficial for the micro-LED display market.

Regional Analysis

On the basis of region, the European market for micro-LED displays is expected to emerge as the largest market. The demand for micro-LED displays has witnessed an increase in the region, which is attributed to the growing awareness related to energy-efficient technology across automotive, consumer electronics, retail, and other industries. Furthermore, trends like smart home infrastructure, together with the rising adoption of smart TV, will also propel the market forward.

Growing investment in the display industry will also contribute to the growth of the micro-LED display market.

Competitors in the Market

Apple Inc.
eLux, Inc.
LG Display
Aledia
PlayNitride Inc.
Rohinni LLC
Sony Corporation
VueReal
Samsung Electronics Co. Ltd.
Other Prominent Players
Market Segmentation

The global micro-LED display market segmentation focuses on Product, Industry Vertical, Application, and Region.

By Product Outlook

Large Display
Small & Medium Size Display
Micro-Display
By Industry Vertical Outlook

Consumer Electronics
Entertainment & Sports
Automotive
Retail
Government & Defense
Others
By Application Outlook

Smartphone & Tablet
PC & Laptop
TV
Smartwatch
Others
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America