Know more about the COVID impact on Global Micro LED Market

Liquid crystal display (LCD) technology has grabbed a major market share over the decade, owing to its higher adoption in smart tv and desktop PC’s. However, its market presence was shattered with the introduction of OLED display technology specifically in the mobile displays and wearable technology. OLED possess major advantages in terms of thin form factor, light weight, superior image quality and various other factors.

It is estimated that OLED will gain around 45-50% share of the smartphone market by 2020, with iPhone adoption of OLED as key propelling factor. Besides, these terms a new technology is also set to emerge in the display market known as “Micro-LED” technology. Micro-LED is set to pose as a perfect alternative to other display technology with its production to started from the year 2017. Though Micro-LED adoption would be initially restricted to wearable devices, however technology possess a lucrative potential to be adopted in smartphones and VR/AR applications during the forecast period 2019-2026. Major factors that supports aforementioned trends are excellent display quality, low power consumption (requires only around 10-20% of power consumed by OLED and LCD technology) and cost reduction potential.

Global micro-LED display market is estimated to reach a total around 350 million units by 2026, with its manufacturing cost depreciating during th forecast period, owing to integration of advanced technological measure in the production phase, that will contribute in operational cost reduction. OLED and micro-LED technology have an emissive display technology, which signifies that these technologies does not require any blacklight. Thus, by removing power intensive backlight, excellent power efficiency can be achieved. Micro LED’s primarily combines the feature of both TFT-LCD and LED and is emerging as more mature technology with respect to materials, manufacturing process and equipment development as compared to OLED technology. Within the market companies such as Luxvue, Mikro Mesa, Sony, Leti and others hold major patents in micro-LED market, thereby providing a strong uphold in the global market scenario.

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