Micro/Mini LED Revenue to Reach $4.2 Billion in 2024

Article By : TrendForce

Total Micro/Mini LED revenue is projected to reach upwards of US$4.2 billion in 2024.

Next-generation Micro/Mini LED display technologies have generated a market which companies hoping to recover from the pandemic-induced global economic downturn look to for the next wave of commercial opportunities.

Furthermore, major brands including Samsung, Apple, Facebook, Google, LG, and Sony are also rushing to get a head start in Micro/Mini LED development, in turn galvanizing the growth of the overall supply chain. Total Micro/Mini LED revenue is projected to reach upwards of US$4.2 billion in 2024.

TrendForce’s latest investigations find that current bottlenecks in Micro LED technical development fall into six categories: epitaxy and LED chips, mass transfer, full-color emission, driver IC, backplane, and inspection/repair, whereas Mini LED development is mostly hampered by poor SMT yield rate, which drives up manufacturing costs.

TrendForce analyst Max Chen analyzes the manufacturing costs of Mini LED, as well as the current state of the Mini LED supply chain. According to him, “Apple’s upcoming release of products featuring Mini LED backlighting has brought about an increase in Mini LED demand and incentivized related manufacturers to expand their production capacities.

What’s more, with the 5-10 times growth in dimming zones of Mini LED backlights comes a considerable increase in manufacturing costs, so cost reduction is expected to become a hot topic in current supply chain discussions.” This discussion outlines the various challenges involved in Mini LED commercialization while taking a forward-looking, market-first perspective.

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