Micro LED chip market could reach $580m by 2028
A new report by TrendForce says tech innovation and demand from industries such as wearables and automotive could drive demand for Micro LEDs to record highs this decade.
TrendForce’s “2024 Micro LED Market Trend and Cost Analysis Report” estimates the market value of Micro LED chips will be USD 580 million by 2028, with a CAGR of 84% from 2023.
The analyst firm says new techniques will drive demand. Examples include the evolution of mass transfer technology from single to composite technique, and combining laser transfer with stamp transfer to enable bonding capability with no stiction.
It also cites new electrical testing methods that focus on high-precision probe cards and contactless testing. These advancements are not only leading the development of electrical testing but also present significant business opportunities for equipment manufacturers.
In the wearable space, Micro LED is well-suited for high-brightness, all-weather, and all-scene recognition. The rapid development of AI-assisted tools is also expected to drive demand for AR glasses with Micro LED displays over the next two years.
In the automotive sector, Micro LED technology is valued for its brightness, contrast, wide color gamut, fast response, and suitability for smart cockpit display solutions with unique shapes, curves, flexibility, and feedback.
