The global Micro LED market will keep growing quickly from 2023 to 2027

The Micro LED market keeps expanding owing to the mass application of large displays and wearable devices. It is estimated that the global market value of Micro LED chips will be up to about $27 million by the end of this year, approaching $580 million in 2027 at a CAGR of about 136% from the year 2023 to 2027.

Wearable devices are a major application for Micro LED this year.For example, Apple has introduced Micro LED chips to its boader product range such as apple Watch,headset,smartphones and automotive display applications.Innovational Micro LED automotive display will be in booming development facing the high market demand for reliablity and brightness in terms of technologically advanced head-up displays (HUD) or transparent display with connections to  autonomous driving technology. More and more auto makers in developed countries are introducing Micro LED displays to their vehicles.

This year, some world-famous suppliers of Micro LED  have launched a series of big-size and high resolution displays to the marekt, such as  89-inch 4K display from Samusng, 136-inch 4K model from LG electronics based on 22.3-inch backplane and cost-effective 16x27μm chips,P0.9 active matrix display from BOE,etc.

In the market of AR headsets, Micro LED still have to compete with some other technologies like LCOS, Micro OLED, and LBS. Some leading players Meta, Google, and MIT prefer Micro LED for micro-projection displays because of the balanced performance of Micro LED in brightness,energy consumption,pixel density and light engine size,etc.