The global micro-LED display market size was US$ 97.1 million in 2021. The global micro-LED display market is forecast to grow to US$ 9897.4 million by 2030 by registering a compound annual growth rate (CAGR) of 79.1% during the forecast period from 2022 to 2030. 

In Micro-LEDs, individual pixels are created through an array of microscopic light-emitting diodes (LEDs). The micro-LED display offers high wavelength uniformity, majorly for fine pixel pitch display. 

Factors Influencing the Market

• The benefits of micro-LED displays, such as high-definition picture quality, less power consumption, improved brightness, and better color saturation than traditional displays, will drive the growth of the global micro-LED display market. 
• The growing popularity of micro-LED in the electronic industry will contribute to the growth of the market. 
• The fact that micro-LED displays are more cost-effective than traditional technology will accelerate the growth of the market. 
• Growing demand for bright and power-efficient display panels will also contribute to the growth of the global market.
• The rapidly growing consumer electronics industry and growing innovations by the industry players will offer lucrative opportunities for the micro-LED display market. 
• The growing contribution of industry players is expected to benefit the global market. For instance, Apple Inc., LG Display, Sony, and various other industry players are working on innovating new technology by using micro-LED displays. Rohinni collaborated with Magna Electronics with the aim to develop flexible mini-LED and micro-LED-based lighting devices, majorly for the automotive sector.

COVID-19 Impact Analysis

The COVID-19 pandemic has negatively impacted the global consumer electronics industry, which, as a result, hampered the other associated industries. The micro-LED market witnessed various obstacles, such as a pause in manufacturing activities and reduced demand for consumer electronics. Micro-LED display technology is still in its emerging phase. However, the wake of the pandemic halted all R&D activities, which impacted the global micro-LED display market. 

Regional Analysis

The Asia-Pacific micro-LED display market is forecast to emerge as the largest market because the region holds one of the largest consumer electronics industries. In addition, the presence of some renowned electronic manufacturers, such as LG Display, Samsung Electronics Co. Ltd., etc., will drive this regional market forward. In addition, companies in the region are also focusing on bringing out new innovations to gain traction. For instance, Sony Corporation unveiled various innovations in micro-LED display technology, such as its huge 8K micro-LED. Furthermore, LG Display also introduced its Micro LED TV prototype at IFA 2018. As a result, the contribution of the micro-LED display manufacturers will drive the market forward in the coming years. 

Competitors in the Market

• Aledia
• Apple Inc.
• eLux Inc.
• Glo AB
• LG Display
• PlayNitride Inc.
• Rohinni LLC
• Samsung Electronics Co. Ltd.
• Sony Corporation
• VueReal
• Other Prominent Players

Market Segmentation

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

By Product

• Micro-Display
• Large scale Display
• Small and Medium-sized Display

By Application

• Smartphone and Tablet
• PC and Laptop
• TV
• Smartwatch
• Others

By Industry Vertical

• Consumer Electronics
• Entertainment and Sports
• Automotive
• Retail
• Government and Defense
• Others

By Region

• 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