LONDON, Jan. 13,
2025 /PRNewswire/ -- New research from
Omdia projects that shipments of micro light-emitting diode
(LED) displays will surge to 34.6 million units by 2031.
Despite this impressive growth, micro LED displays are expected to
account for just 0.9% of the total display market, as the
technology remains competitive only in select applications over the
forecast period.
Following reports in February 2024
that Apple postponed its micro LED display project for its watch,
some set brands and related suppliers have slowed their development
of associated components and equipment. As a result, Omdia has
significantly revised its market forecast compared to
projections made earlier in 2024.
Despite some delays, many industry players continue to
aggressively develop micro LED display technology. Omdia forecasts
that shipments in the micro LED display market will reach 1.7
million by 2027, driven primarily by light-emitting diode
on-silicon backplane (LEDoS) in ultra small sized display device
such as extended reality (XR)
devices, particularly smart-glasses designed
for outdoor. By 2031, XR devices are expected to account
for 24.4% of the micro LED display market.
"Smart-glasses require light-weight designs, low-power
consumption and high readability under sunlight," said Jerry Kang, Senior Research Manager at Omdia. "A
few LEDoS suppliers have already achieved diagonal sizes as small
as 0.15-inch, making them more suitable for lightweight on
smart-glasses compared to other display technologies."
In 2024, numerous display manufacturers
unveiled new micro LED display prototypes, that
mainly targeted automotive, public displays, and virtual studios.
This trend suggests that suppliers are anticipating
greater adoption of micro LED displays in niche
applications.
"Due to the low -cost competitiveness, many display suppliers
are focusing on penetrating product segments where OLED or LCD
struggle to meet customer demands for specific display sizes and
performance," said Kang. "Simultaneously, several component and
equipment suppliers are proactively introducing advanced
technologies to enhance the manufacturing of micro LED
displays."
Omdia's 'Micro LED Display Market Tracker – 4Q 2024' provides
valuable insights into technology trends and market developments in
the micro LED display industry. The report covers market growth
forecasts, cost analyses, and technical outlooks across the supply
chain, panel manufacturers, and set brands.
ABOUT OMDIA
Omdia, part of Informa TechTarget, Inc. (Nasdaq: TTGT), is a
technology research and advisory group. Our deep knowledge of tech
markets combined with our actionable insights empower organizations
to make smart growth decisions.
Contact
Fasiha Khan:
fasiha.khan@omdia.com
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SOURCE Omdia