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The global microLED market is now projected to reach US$23 billion in value by 2030

microLED might be ready to take off. (Source: Samsung)
microLED might be ready to take off. (Source: Samsung)
The emerging microLED sector is now tipped to gain ground now that the effects of the pandemic are abating. It was worth only US$56 million in 2020; however, this value is now though to reach the multi-billion level at the start of the next decade. This growth might be driven by demands for devices such as TVs as well as large-scale displays with the technology.

microLED is hyped by some companies as an alternative to other panel types such as OLED with potential improvements in brightness, contrast and (possibly most importantly) energy-savings. Then again, its rise as a type of display in increasingly everyday electronics might have been held back by the global pandemic.

Now, however, manufacturing, sales and marketing are slowly getting back up to speed, and may be capable of taking microLED adoption with it. Its market is now estimated to grow in value until it hits US$23.4 billion by 2030, at a compound annual growth rate (CAGR) of 77.1% between 2021 and that year.

microLED may be attractive in many categories of use-cases and products; for example, even small devices such as Apple Watches are believed to have more displays of this type by the generation. However, the entertainment/sports segment is now thought to grow by the most from 2021 to 2030, at a potentially impressive CAGR of 82.5%.

The Allied Market Research group now also endorses microLED as an increasingly common source of everyday digital signage, thanks to its potential cost-effectiveness and low-power nature. Conversely, OEMs such as Samsung tout it as a defining spec in some of its highest-end screens for the home at present.

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2022 04 > The global microLED market is now projected to reach US$23 billion in value by 2030
Deirdre O'Donnell, 2022-04-25 (Update: 2022-04-25)