The global Micro-LED market will reach $10.7 billion in 2022

According to relevant data, the global Micro LED market will grow from $2.7 billion in 2019 to $10.7 billion in 2022. Industry analyst firm n-tech believes that Micro LED technology is making substantial progress and will provide a lot of opportunities for the industry.

Through a large number of working prototype evaluations, Micro LED technology has proven to be far superior to LCD and OLED technology. This advantage will be a direct contributor to near-eye AR/VR projectors and automotive HUDs. Because such applications require smaller form factors, lower weight, ultra-high resolution, and ultra-high brightness performance.

For Micro LED technology, the smart watch market is another big opportunity market. The extremely low power consumption and superior brightness of Micro LED technology make it an ideal choice for the wearable market. In 2022, the wearable market Micro LED technology will have a production value of $1.6 billion.

In addition, very large displays will also provide significant revenue growth for Micro LEDs. Because such displays are often used in video walls, digital cinema, digital signage, and home theaters, n-tech believes that these applications will greatly benefit from the scalability of Micro LED technology over a large area (Sony and Samsung have already confirmed). Micro LEDs also offer the possibility of merging with other features for this "giant screen" application and are compatible with flexible, transparent display designs.

According to the report, Micro LED technology is not suitable for all fields, because there are still many applications that cannot be popularized by Micro LED technology. These include smartphones, tablets and the general TV market, where LCD and OLED technologies will continue to perform well. The advantages of Micro LED technology are not obvious in these markets, although low power consumption may become a selling point for tablets and smartphones.