Micro Light-Emitting Diode (LED) Market Report and Forecast 2025-2034

The global micro light-emitting diode (LED) market attained a value of about USD 5.52 billion in 2024. The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of nearly 85.00% to reach a value of approximately USD 1.00 trillion by 2034.

The market is being driven by the rising demand for smartwatches and smartphones. The Asia-Pacific region is dominating the global market.

Market Segmentation

A micro light-emitting diode (LED) refers to a technology that is used in displays of microscopic light-emitting various colour diodes organised into a set. These LEDs are also referred to as micro-LED, mLED, or μLED. A micro light-emitting diode (LED) is a technology of emissive display where the photographic components, also called pixels, are the light source. It means that emissive display systems do not need a separate backlight plate so that the displays are thinner than LCDs.

Market Breakup by Type

• Display
• Lighting

Market Breakup by Application

• Smartphone and Tablet
• PC and Laptop
• TV
• Smartwatch
• Others

Market Breakup by Sector

• Commercial
• Residential
• Industrial

Market Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Market Analysis

The introduction of micro LEDs into TVs is a major factor driving the development of the global micro light-emitting diode (LED). Various TV companies have begun to develop micro LED TV prototypes that offer increased brightness as well as an incredibly wide range of HDR colours. Such LEDs are supposed to last longer than OLED panels because no natural deterioration is involved. The adoption of micro LEDs for TVs is expected to increase these benefits.

Competitive Landscape

The report presents a detailed analysis of the following key players in the global micro light-emitting diode (LED) market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• LG Electronics Inc. (KRX: 066570)
• Playnitride Inc.
• Plessey Semiconductors Ltd.
• Samsung Electronics Co., Ltd. (KRX: 005930)
• VueReal Inc.
• Sony Corporation (NYSE: SNE)
• Others

The report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.