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The global micro-LED market will grow from US$2.7 billion in revenues in 2019 to US$10.7 billion in 2022.
The global micro-LED market will grow from US$2.7 billion in revenues in 2019 to US$10.7 billion in 2022.

The global micro-LED market will grow from US$2.7 billion in revenues in 2019 to US$10.7 billion in 2022, according to a new report by industry analyst firm n-tech Research.

The report believed that micro-LED technology will produce substantial opportunities in the coming years as micro-LEDs have superior performance qualities to other advanced display technologies.

Micro-LED technology has already proven itself superior to LCDs and OLEDs through numerous working prototypes evaluations. Such superiority will be an immediate enabling factor in near-eye AR/VR projectors and automotive HUDs. The applications require a combination of small form factor, low weight, super-high resolution and super-high brightness.

Meanwhile, the smart watch market is another lucrative opportunity for micro-LEDs. The combination of extremely low power consumption and very strong brightness make micro-LEDs an obvious choice for wearable displays. It is predicted that this segment will generate US$1.6 billion in 2022.

In addition, growth is expected in extra-large displays. Such displays are used in video walls, digital cinemas, digital signage and home theaters, where n-tech believed they will greatly benefit from the scalability of micro-LED technology to large areas. Micro-LEDs also offer the “giant screen” sector the possibility of hybridization with other functionalities, and compatibility with flexible and transparent display designs.

n-tech expected that there are still applications where micro-LEDs will have a hard time penetrating. These include smartphones, tablets and regular TV market, where LCD and OLED technologies will continue to do well. Benefits from micro-LEDs are not as apparent in these markets although low power consumption could be something of a selling feature for tablets and smart phones.

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