Nov 8, 2017: Worldwide demand for micro-LED-based display and lighting panels is forecast to reach $20 billion by 2025, growing at a CAGR of 54.7% between 2019 and 2025, according to a report by MarketsandMarkets.
The report is based on the current manufacturing capabilities and technology advancements, Micro-LED, a type of direct-view LED technology, may witness commercialization in smartwatches by 2019 and in smartphones and tablets by 2021. “Display applications will dominate and drive the growth of the market during the forecast period and are expected to account for more than 95% of the market by 2025,” said Sachin Garg, Associate Director at MarketsandMarkets.
Applications such as NTE devices, smartphones, tablets, laptops, and HUDs will register higher growth rate, whereas TV, PC monitor, and digital signage applications are expected to show relatively low growth rate during the forecast period. The majority of these applications cater to consumer electronics industry, where the market is expected to register the highest growth.