Trendforce estimates that the microLED market is set for fast growth in the near future, as companies continue to invest in large display applications, wearable products (mainly AUO) and AR and automotive applications. Trendforce says that microLED chip sales will increase from around $62 million in 2024 to $580 million by 2028 (a CAGR of 84% from 2023 to 2028).
Trendforce acknowledges that the inability to reduce costs and technical challenges are major factors behind the cancellation of Apple’s Micro LED watch project, and so continuous optimization of production processes remains critical for the development of the Micro LED industry.
Trendforce have, though, delayed its projections by one year - last year it has estimated that the market will reach $580 in 2027.
