Micro LED Market | application covers: Smartphones, Television & Smartwatch

Micro LED Market: Summary

The Global Micro LED Market is estimated to reach USD 2.8 Billion by 2024 at a CAGR of 72%.

Micro Light Emitting Diode (LED) is a technology used for displays made up of microscopic light emitting diodes. Micro LEDs use small pixel size compared to conventional LEDs and they also have self-emissive technology which reduces its dependence on backlighting. Owing to these features, micro LEDs display panels are slimmer and provide extremely high resolution for various end use applications. Micro LEDs are very power efficient and produce brighter pictures.

Micro Led Market: Drivers & Restraints

Market Drivers:

Growing Demand for High Resolution Displays in Smart Devices

As there is a surge in demand for higher resolution displays in the smart devices, micro LEDs will fulfill the demand for better visual results in the near future. Micro LEDs are specifically used in smartphones, head-up displays (HUD), and smartwatches, for high resolution and better visual performance applications under variable luminous conditions.

Hence, this factor is expected to contribute towards the growth of micro LEDs market in the near future.

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Growing Demand of Consumer Electronics

Consumer electronic products are mass produced and are required in almost every aspect by consumers. The consumer electronics faces shift because of technological advancements. Across various electronic products such as televisions, smartwatches, laptops, technological advancements are on a rise owing to consumer buying behavior. Micro LEDs are expected to get integrated in the manufacturing of aforesaid consumer electronic products and this will pave the way for the manufacturing of advanced electronic products.

Thus, growing demand of consumer electronics may contribute in the growth of the micro LED market, during the forecast period.

Market Challenges:

Technical Barrier in the Manufacturing Process

In the manufacturing process of micro LEDs, mass transfer is done in which LED chip is transferred to the substrate and this process is quite complex to perform. When the chip is transferred from temporary substrate to the final substrate, extra precautions are required to save the chip from any damage. Equipment available to perform this task are time consuming and affect the yield quality and quantity of the micro LEDs produced. The equipment required to make the chips with an emphasis on good yields and mass production will be technologically complex to produce, at present few companies and researchers are striving to overcome this situation.

Thus, barrier in the manufacturing process may hinder the growth of the micro LED market, during the forecast period.

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Micro Led Market: Key Segments

· Segmentation based on type covers: RGB Micro LED, Blue Micro LED, and UV Micro LED

· Segmentation based on panel size covers: Below 2 inch, 2–12 inch, 12–55 inch, 55–100 inch and Above 100 inch

· Segmentation based on application covers: Smartphones, Television, Smartwatch, Laptop and Tablet, Virtual Reality (VR), Augmented Reality (AR)/ Mixed Reality, Commercial Billboards, Micro LED Lighting System and

· Segmentation based on end user covers: Consumer Electronics, Automotive, Advertisement, Aerospace and Defense and Others

· Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

Micro Led Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

Micro LED Market, by Type

· RGB Micro LED

· Blue Micro LED

· UV Micro LED

Micro LED Market, by Panel Size

· Below 2 inch

· 2–12 inch

· 12–55 inch

· 55–100 inch

· Above 100 inch

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Micro LED Market, by Application

· Smartphones

· Television

· Smartwatch

· Laptop and Tablet

· Virtual Reality (VR)

· Augmented Reality (AR)/ Mixed Reality

· Commercial Billboards

· Micro LED Lighting System

· Others

Micro LED Market, by End User

· Consumer Electronics

· Automotive

· Advertisement

· Aerospace and Defense

· Others

Flow Meters Market, by Region


· China

· India

· Japan

· South Korea

· Australia

· Rest of Asia-Pacific

North America

· US

· Canada

· Mexico


· Germany

· France

· Italy

· UK

· The Netherlands

· Rest of Europe

Middle East and Africa

· Saudi Arabia


· Rest of Middle East & Africa

South America

· Brazil

· Argentina

· Rest of South America

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About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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