Asia-Pacific Micro-LED Market - Industry Analysis, Growth, Demand, Share, & Forecast To 2027

Micro-LED, also known as mLED or µLED is a developing flat-panel technology. It consists many microscopic LEDs of different colors, which form individual pixels. Pixels are used to idealize the quality or resolution of the LED display. The Micro-LED was first invented in 2000 by Hongxing Jiang and Jingyu Lin of the Texas Tech University research group. They followed their first report at Kansas State University based on electrical injection to address the issue between the high voltage electrical structure and low voltage characteristics Micro-LEDs with indium gallium nitride semiconductors. Several groups also contributed to this topic and found many related potential applications. Different on-chip connection schemes of Micro-LED pixel arrays have been engaged to develop DC/AC LEDs with a single chip and high voltage. They were the essential component of LEDs. The Micro-LED technology was also utilized as a light source application and visible light communications. Sony introduced the first Micro-LED products, but they were not much cost-friendly. Micro-LED technology has displayed potential performance over OLED and LCD technology, including higher brightness, higher contrast ratio, greater color saturation, self-illumination, better efficiency, etc. 

According to the research report “Asia-Pacific Micro-LED Market Outlook, 2027" published by Actual Market Research, the Micro-LED market in Asia-Pacific is expected to propel market growth with 84.80% CAGR over the forecast period of 2027. Asia-Pacific Micro-LED market is dominating the Global Micro-LED Market. Rapidly penetrating network infrastructure in the Asia-Pacific region has become an important factor in increasing technology demands. Due to the availability of resources for Micro-LED technology in this region, many industries are expanding their business in Micro-LED technology. The Asia-Pacific Micro-LED market is further segmented into five countries: China, Japan, India, Australia, and South Korea. Where China Micro-LED market is expected to have progressive market growth by 2027. The positive outlook of the China Micro-LED industry has attracted various investors to the technology revolution. Since 2019, several investments and projects have been taking place in China with the vision of Micro-LED technology development. For the Asia-Pacific region, the Micro-LED market is expected to grow by principal amount due to the presence of the major display panel manufacturers, LED foundries, and brand product manufacturers. These companies normally launch their new products and technologies based on the innovation in the Micro-LED market. Early exposure to the latest display and lighting products is expected to be the driving attribute for the growth of the Micro-LED market in the Asia-Pacific region. 

The Asia-Pacific Micro-LED market is segmented into three major panels based on the size of Micro-LED displays: large panels, micro panels, and small & medium panels. Large panels or large displays are an emerging technology in the Asia-Pacific region. The growth in transport networks and public infrastructure creates more opportunities for this segment in the Asia-Pacific region. Large displays are being used in all modes to gain the attention of on-the-go viewers, providing advertisements, travelling information, real-time location etc. Based on the report, Asia-Pacific region is also segmented into end users including consumer electronics, automobile, aerospace & defense etc. Increasing demands for smart devices including Micro-LED technology is expected to propel the market growth. Penetration of consumer electronics directs towards increasing market growth of this region. Micro-LED technology present in Asia-Pacific region has major two applications which are display and lighting. Micro-LED display technology in Asia-Pacific region is expected to have more than 90% market share. Lighting technology is developing with steady growth in Asia-Pacific region. 

Impact of Covid-19 on Asia-Pacific Micro-LED market:

The Covid-19 outbreak has altered Asia-Pacific countries' global economy and development prospects. Due to immutable virus situation many industries and manufactures were remain shut and processes were delayed. The Supply chain and developments of this technology were disrupted. Due to ‘work from home’ situation many industries were concentrating only on effective work. Social distancing, lack of labor, lockdown situations have majorly impacted the market. Though after this sudden change, industries and companies initiated their work output with more essential attributes. As these effects are not over yet, many changes will be durable in industrial aspects.

Major Companies present in the market:
LuxVue Technology (Apple Inc.), Oculus VR Inc. (Meta Inc.) , Sony Corporation , Samsung Electronics Co., Limited , LG Display Co. Limited ,Innolux Corporation, Epistar Corporation, Ostendo Technologies, Inc, JBD Inc., Rohinni LLC , Optovate Limited, Aledia SA, Plessey Semiconductors Limited , VueReal Inc., ALLOS Semiconductors GmbH.

Considered in this report
• Geography: Asia-Pacific
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027

Aspects covered in this report
• Asia-Pacific Micro-LED market with its value and forecast along with its segments
• Country-wise Micro-market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions covered in the report
• China
• Japan
• India
• Australia
• South Korea

By Panel Size in the report:
• Micro Display
• Small & Medium-sized
• Large Panel

By Application in the report:
• Display
• Smart watch
• Near-to-eye Devices (AR and VR)
• Television
• Smartphone and Tablet
• Monitor and Laptop
• Head-up Display
• Digital Signage
• Others
• Lighting

By End User in the report:
• Consumer Electronics
• Automotive
• Aerospace and Defense
• Other End Users

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Micro-led& LED industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.