Fayyaz Singaporewala (Co-Founder and CEO)

MicroLED Illumination and Displays are dazzling the industry: A 5-Year Market Outlook

October 23, 2023
5 min

Recently, lighting and display markets are witnessing a revolutionary transformation with the rise of MicroLED (Light Emitting Diode) illumination and displays. The market size and growth potential are massive. nsc is poised to offer novel solutions to these markets via our unique, proprietary CMOS + GaN MicroLED technology solution called PixelatedLightEngine™.

While illumination and displays are separate markets, the PixelatedLightEngine™ is able to serve both. MicroLEDs when used for displays are essentially data-embedded lighting. The markets have their own driving forces based ontheir end applications.

First, let’s look at the MicroLED Illumination market. Based on market research by N-Tech Research and Lucintel, we can estimate the global MicroLED lighting market size at US$110mm in 2023, and expected to grow at massive compound annual growth rate (CAGR) of about 66% into 2028. Therefore, by 2028,the MicroLED lighting market could reach US$1.4 bn.

The rapid adoption of MicroLED lighting across various industries can be attributed to its energy efficiency, longer lifespan, and environmental benefits.

Compared to the incumbent lighting technology, primarily discrete LED components, nsc provides customized designs using our PixelatedLightEngine™ solution that require digital control of arrays of high-density LEDs like smart lighting, architectural lighting, and automotive interior & exterior lighting. Digital control provides a level of customization and flexibility that is not possible with traditional lighting technologies.

Taking automotive exterior lighting for example, the auto industry is increasingly looking to digital lighting or “smart” headlights that can have tailored beams specific to required intensity, projection, and size, suitable to various driving needs such as glare-free setting or adverse weather.

As for the MicroLED display market, it is even more promising. Reports by Spherical Insights and Straits Research (2023) predict that the global MicroLED display market size will grow from US$650mm in 2022 to US$28.2bn by 2028, at an exciting CAGR of about 88%.

This remarkable growth is fueled by the characteristics of MicroLED technology, including high brightness, low power consumption, and the potential for flexible displays, which are superior to LCD or OLED.

MicroLED displays have potential applications in smartphones, TVs, automotive displays and wearables such as head-mounted devices (HMDs), making them one of the most sought-after technologies in the display market today.

Apple is reportedly exploring MicroLED displays for Apple Watch and iPhones. Of these MicroLED display applications, nsc is particularly excited about PixelatedLightEngine™ enabling microdisplays based on inorganic MicroLEDs, which are the most promising option to meet the requirements for AR / VR displays, including small form factor, high brightness, power efficient and capable of HD resolution(1080p+). You can read more about nsc enabling Metaverse hardware in one of our earlier blog posts (link).

nsc’s design-customizable CMOS + GaN MicroLED technology platform (PixelatedLightEngine™) gives our customers the opportunity to create stand-out solutions to address these large and growing markets.

Sources: N-Tech Research (March 2019), Lucintel (May 2023), Spherical Insights (Apr 2023), Straits Research (Sep 2023)

You may also like