According to the latest research from Omdia, MicroLED display shipments are projected to reach 34.6 million units by 2031, representing a small fraction (0.9%) of the total display market.
The market outlook has been adjusted downward following Apple’s decision to postpone its MicroLED watch display project in February 2024. This delay prompted several manufacturers to slow their development efforts for related components and equipment.
Despite these setbacks, market activity continues. Omdia projects 1.7 million units shipped by 2027, with primary growth in LEDoS (LED on-silicon backplane) for XR devices, particularly smart-glasses. XR devices are expected to make up 24.4% of the MicroLED market by 2031.
The technology appears particularly suited for smart-glasses applications due to its ability to achieve very small sizes (as small as 0.15-inch diagonal), good sunlight readability, low power consumption, and light weight characteristics.
In 2024, display manufacturers showed prototypes targeting automotive displays, public displays, and virtual studio applications. According to Jerry Kang from Omdia, manufacturers are pursuing market segments where existing technologies (OLED and LCD) have limitations in meeting size and performance requirements. Meanwhile, suppliers continue developing technologies to improve manufacturing processes.
The data suggests MicroLED displays remain a niche technology that may find its place in specific applications rather than achieving broad market penetration. This appears to be a case of a technology finding its proper market fit – not as a wholesale replacement for existing display technologies, but as a targeted solution for applications with specific requirements that align with MicroLED’s strengths.
