Micro LED: Demand for High Display Options Fueling Sector Growth

Micro-LED is an emerging display technology that aims to provide a flat panel display with a wide viewing angle, quick response time, and a simultaneous reduction of energy consumption compared to existing technologies. Micro-LED provides a better display and higher brightness than LCD and OLED, and other existing technologies.

This is expected to increase its popularity and application in devices like TVs, smartwatches, tablets, laptops, PCs, and others. Micro-LED consumes less power than other technologies, which is expected to boost its demand further. Also, with the rising disposable income and changing living standards of the people, the demand for digital products is expected to increase over the years. With better up-gradation in devices like smartphones, laptops, smartwatches, TVs, etc., the demand for technologies like micro-LED stands at a favorable position.

One of the major restraints to this market is the high investment cost and high product price, which can not only affect the entry of new companies in this field but can also hamper the demand from customers owing to the high price associated with the product. Apart from that, the existing technologies are projected to serve as significant competition, especially in terms of affordability to the market, impacting its growth.

With the rise in development and urbanization across the globe, the factors like disposable income and living standards are being affected. Over the years, trends suggest that people have increased their demand for high-tech products to adjust to automation and technological advancement and simultaneously produce better results for their businesses. Therefore, the ever-rising demand and our growing dependence on high display digital products like smartwatches, TVs, laptops, etc., along with better display results than LCDs and OLEDs, are projected to fuel the demand for micro-LEDs in the coming years.

The major highlight of micro-LED products is that they consume less power than other existing technologies, which are expected to give a considerable market share to this market in the years to come. This is because of micro-LED's color filters and backlights, and with the advancement in this developing technology, the number of polarizer filters in them is expected to be cut in half, which can further reduce its energy consumption.