Sep 7, 2017: Japan-based Yano Research Institute has projected that the global market value of micro-LED in 2017 will touch US$ 7 million following Sony’s launch of CLEDIS display that features micro-LED technology. Yano also expects micro-LED will reach a market value of US$ 14 million by 2018, twice the volume in 2017.
Yano reports forecasts micro-LED’s market value to hit a whopping 224 million by 2020 (3,100%), and to even rocket by 65,371% to US$ 4.583 billion by 2025.
The Yano research report also points out that Apple and Foxconn have recognized the potential of micro-LED market. Apple, therefore, plans to use micro-LED displays in its smartwatch products to be launched in 2018-2019. Apple has also began the development of micro-LED in a plant in Taoyuan, Taiwan, and planned to start mass production at the end of 2017. Apple’s micro-LED displays would be seen on the next generation Apple Watch.
Foxconn has also acquired a startup that specialized in micro-LED display technology. With major companies penetrating the micro-LED market, it is clear that the market is expanding faster than expected.
The report projects that micro-LED will be now used in manufacturing displays after 2017, and also likely to be seen in applications like automotive headlamps, intelligent fibres, Li-Fi, and biomedical by 2020. However, these applications would contribute to a small proportion of micro-LED’s market value as there are several challenges in manufacturing technology and cost structure of the applications. Although micro-LED consumes less production cost than OLED does, and can be much brighter and more energy-efficient, the technology and equipment required to manufacture micro-LED is yet to mature. That is a big challenge that manufacturers of micro-LEDs will face.