TrendForce Report on MicroLED Market Trends and Challenges

TapTechNews June 3rd, TrendForce consultancy released the 2024 MicroLED Market Trends and Technical Cost Analysis Report (hereinafter referred to as the report).

The report shows that the cost compression and size miniaturization project of MicroLED chips is still ongoing. Manufacturers including LGE, BOE, and Vistar continue to invest in large display applications, and AUO is developing watch products. New display applications are also gradually expanding to head-mounted devices and automotive needs.

It is expected that by 2028, the output value of MicroLED chips will reach 580 million US dollars (TapTechNews note: currently about 4.211 billion Chinese yuan).

Challenges in the development of the MicroLED industry

The difficulty in lowering costs and challenges in technical processes are the main reasons for the cancellation of the Apple Watch project.

Testing and repair are the keys to improving the manufacturing yield and further reducing the cost of MicroLED.

Opportunities in the development of the MicroLED industry

The demand for AR glasses using MicroLED as the display technology is expected to gradually emerge.

The application prospects of MicroLED in automotive scenarios are also continuously expanding, and it can be used as augmented reality and panoramic head-up display (AR-HUD and P-HUD) in the future.