n-tech Research says that the Micro-LED market will emerge in 2019, with sales reaching $2.7 billion. The market will grow very quickly to reach over $70 billion in 2027.
n-Tech says that the immediate markets for Micro-LED displays will be near-eye displays (AR/VR), automotive HUDs and projectors - as these will benefit mostly from the small size, low weight, high brightness and high resolution of Micro-LED displays. Wearables (smartwatches) is another lucrative market (n-Tech sees $1.6 billion in smartwatch Micro-LED display sales in 2022).
Another interesting market, with fast expected growth, is extra-large displays - such as video walls, cinema displays, signage and home theaters. The linear scalability of micro-LED displays will greatly benefit these markets.
n-Tech notes that Micro-LEDs will find it difficult to penetrate some important display markets - such as smartphone displays, tablets and TVs. LCD and OLEDs will continue to dominate these markets.
It is great to see n-Tech so optimistic on the Micro-LED display market. It is quite difficult to believe though that the market will be able to grow from practically zero to $2.7 billion within one year. Most analysts believe it will take around 3 years for Micro-LED displays to actually reach real commercialization. Of course the actual definition of a Micro-LED display is a bit fuzzy. n-Tech for example considers Samsung's "The Wall" as a micro-LED display (that's how Samsung markets it as well) although some analysts consider it an emissive mini-LED display.
Most importantly, it seems that n-Tech also considers mini-LED backlighting for LCDs as a micro-LED display, see the segmentation chart below. It seems that the company also believes smartwatch micro-LED displays will generate $350 million in 2019, this also seems to be highly optimistic. It is likely that n-Tech believes that Apple will switch to micro-LED displays in all of its 2019 Watch devices.