Sellbyville, DE -- (SBWIRE) -- 06/11/2019 -- The Asia Pacific micro LED display market is expected to witness a significant growth due to the increasing demand for low cost and high-quality smartphones. The region is characterized by the increasing demand for smartphones due to the rapidly-penetrating network infrastructure. Furthermore, there are several manufacturers of displays and LEDs in the region due to the availability of resources. This allows the traditional manufacturers in the region to switch to the new technology and develop these components at a low cost.

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Predominantly driven by the surging demand for fine pitch panels, micro LED display market has witnessed a massive growth over the recent years. Renowned technology heavyweights have been increasingly deploying micro LED display panels in smartphones, smart watches, tablets and laptops to ensure a high wavelength uniformity suitable for fine pixel pitch LED displays. For instance, South Korean electronics giant LG Electronics, has recently announced its plan of introducing a new line of micro LED display market. Christened as XLµLED, XµLED, and SµLED, LG is finalizing the paperwork to trademark these displays in the EU.

Small panel size in micro LED display market is anticipated to grow rapidly to reach revenue share of over 30% by 2024 due to the surging demand for small devices such as smartphones, near-to-eye devices and smartwatches. These components have several advantages over currently used OLED technology such as high degree of luminance, powerful contrast, and low operating temperatures. Furthermore, these devices owing to their low power consumption run for longer a life-span as compared to the traditional components. This is encouraging the manufacturers of handheld devices to increasingly implement these components in the devices.

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The development of hybrid OLED technology is expected to hamper the industry growth. In February 2018, Samsung announced that it is developing a hybrid QD OLED technology for TV panels. The technology, according to the company is highly efficient for mid-sized video panels such as TV screens. OLED micro display companies, such as eMagin, are also investing in research in this field. This will restrict the growth of the large micro LED display market.

The manufacturers are increasingly investing in the technology development to enhance the functionality of these components, thus aiding the micro LED display market. For instance, to produce these components, gallium nitride LED wafers are grown on sapphire substrates. However, some of the manufacturers are investing in research for developing gallium nitride on silicon technology to increase the uniformity in wavelength and lower the inspection costs. This will aid in the micro LED display market growth.

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Some of the major companies in the micro LED display market include Sony, Samsung Electronics, Apple, Inc., Epistar, Micro Mesa Technologies, Plassey Semiconductor Technology, VerLASE Technology, and Glo AB. The industry is characterized by intense competition among the players for product development such as Apple and Sony.

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