Global micro-LED display market size valued at USD 43.62 million

The global micro-LED display market size was valued at USD 43.62 million in 2022 and is expected to grow at a CAGR of 135.88% during the forecast period, to reach USD 7.5 billion in 2028.

The global micro-LED display market is in its early stages of development but is witnessing rapid growth, with several companies competing to develop and commercialize this transformative technology. Major players in the global micro-LED display market, including industry giants like Samsung Electronics, Sony, LG Electronics, AU Optronics, Plessey Semiconductors, and JBD, are making significant investments in research and development. They focus on developing micro-LED displays tailored for various applications, ranging from smartphones, smartwatches, televisions, and laptops to augmented and virtual reality (AR/VR) headsets.

More than 20 companies are competing in this segment, and many large companies are entering this segment to capture the market share and reduce dependency on other companies. Bigger companies like Google are entering the micro-LED display market through inorganic growth, and some have invested mainly in research and development.

Wearable devices, encompassing a wide range of products, including smartwatches and fitness trackers, have become increasingly prevalent in today's tech-savvy society. These devices have revolutionized how we monitor and manage our health, stay connected, and access information on the go. One critical aspect that enables the functionality and appeal of these wearables is the display technology they employ. Small, lightweight, and energy-efficient displays are paramount to meet this market segment's stringent demands. In this regard, the micro-LED display market has emerged as a highly suitable and promising solution, owing to their minuscule size and exceptionally low power consumption.

The increasing demand for automotive technology and features directly impacts the rising demand for Micro-LED displays. This surge in demand is driven by various factors that make Micro-LED displays a preferred choice for automotive applications. Moreover, as vehicles become more advanced and technologically sophisticated, the need for high-quality displays in automotive interiors has grown significantly. Consumers now expect modern vehicles to come equipped with state-of-the-art infotainment systems, digital cockpits, and advanced driver assistance systems (ADAS).