According to a recent market study published by Growth Market Reports, titled, “Global Micro-OLED Market by type, by applications, by end user, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 192.8 Million in 2022 and is anticipated to grow at a growth rate 25.6% by the year 2031.

Micro-OLED, or micro-OLED, is a silicon-based display that uses monocrystalline silicon wafers as the backplane, which is essentially a circuit board. The Organic Light Emitting Diodes (or OLEDs) sit on top, and thousands of these OLEDs are used. Micro-OLEDs can be made flexible, foldable, and even rollable and the displays offer the best image quality currently in production. OLEDs use tiny subpixels made from organic emissive materials. The headline feature of micro-OLED is that it's incredibly detailed. The self-emissive nature of OLEDs eliminates the need for backlighting, which helps in reducing the device’s weight, thickness, and overall power consumption. Micro-OLED displays are used in many applications across multiple industries. One of its important uses is in virtual reality (VR) and augmented reality (AR) headsets. Micro-OLEDs offer high-resolution and wide-field-of-view displays improving the overall immersive experience for users. They allow the presentation of images and graphics, letting users to interact flawlessly with virtual surroundings.

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Increasing demand for smart consumer electronics drives the micro-OLED market. The increasing number of consumers who want convenience and connectivity provided by smart devices. Micro-OLEDs with compact size, which are compatible for incorporating in smart consumer electronics, meet these requirements. Micro-OLEDs are in substantial demand for smartphones. Consumers are using their smartphones for numerous tasks, such as gaming and streaming videos. Therefore, there is a need for displays that provide excellent visual quality. Increasing adoption of wearable devices spurs the demand for micro-OLED displays. Wearable devices such as smartwatches and fitness trackers have gained huge popularity in recent years, due to their ability to provide users with real-time data and improved connectivity. Micro-OLED displays are suitable for integration into wearable devices. Their compact size and light weight make them ideal for small form factors that ensure a comfortable fit for the user. micro-OLEDs offer high pixel density, allowing crisp and vibrant visuals that improve the user experience.

Micro-OLED require high manufacturing costs, due to the technology that it used in them. The manufacturing processes involved in producing micro-OLED displays add to the elevated cost. Other display technologies such as LCD or LED are mature and economical. However, micro-OLED technology is relatively new. The high manufacturing cost of micro-OLED displays poses a challenge to their adoption. High costs limit the availability of micro-OLED technology in consumer electronics, where costs are critical. Manufacturers need to balance the benefits of micro-OLEDs such as their superior visual quality and energy efficiency with their costs.

The development of augmented reality/virtual reality (AR/VR) devices offers a substantial opportunity for micro-OLED manufacturers. These technologies rely on high-resolution displays to produce realistic and appealing virtual environments. micro-OLED displays, with their visual quality compactness and energy efficiency, are suitable to meet the requirements of AR/VR. AR/VR devices merge digital content with the real-world setting, providing users with immersive experiences. micro-OLED displays play a vital role in these devices by providing high pixel density and fast response.

The COVID-19 pandemic has had a significant impact on the global micro-OLED market. micro-OLED refers to a type of display technology that utilizes organic light-emitting diodes on a microscopic scale, offering advantages such as high resolution and low power consumption.

As per growth market reports industry analyst XX, “Micro-OLED displays are energy-efficient. micro-OLED displays do not need a separate backlighting system, as they are self-emitting, unlike conventional LCD displays. This results in low power consumption. It is vital for automotive applications where energy efficiency is critical to reserve battery life.”

Key Takeaways from the Study:

  • Key players operating in the market are BOE Technology Group, eMagin Corporation, 4D Systems Pty. Limited, Seiko Epson Corporation, Semiconductor integrated Display Technology Co., Ltd (Sidtek), Shenzhen Enrich Electronics Co.,Ltd, Sony Semiconductor Solutions Corporation, US Micro Products, WINSTAR Display Co., Ltd., Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd. These companies are considered as key manufacturers of Micro-OLED based on their revenue, research development (R&D) activities.

  • Based on type, the global Micro OLED market is segmented into AMOLED and PMOLED. The AMOLED segment is projected to expand at a CAGR of XX% between 2023 and 2031. AMOLED technology offers exceptional image quality and vibrant colors, making it suitable for many applications. Micro OLED displays built with AMOLED technology deliver deep blacks and high contrast ratios, resulting in an immersive visual experience The AMOLED segment held a XX % value share of the market in 2022.  The PMOLED segment is expected to grow rapidly. PMOLED technology offers advantages in terms of simplicity and cost-effectiveness. PMOLEDs need fewer components and have a less complex manufacturing process as compared to AMOLED displays. Low production costs of PMOLED Micro OLED s make it a good option for price-sensitive markets and applications. Furthermore, the PMOLED segment is anticipated to expand at a CAGR of XX% between 2023 and 2031.

  • Based on Application types, the global Micro OLED market is segmented into wearable devices, AR/VR devices, telescopes/microscopes, cameras, HUDs, and others. The Wearable Devices segment is projected to expand in the coming years. Wearable devices, such as smartwatches, fitness trackers, and augmented reality (AR) glasses, have gained huge popularity in recent years. These devices offer convenient access to information, fitness tracking capabilities, and immersive digital experiences. Additionally, this segment was valued at USD XX million in revenue in 2022.

The AR/VR Devices segment is anticipated to expand at a substantial rate. AR/VR technology has gained significant popularity in recent years, registering widespread applications in gaming, entertainment, education, and training. AR/VR devices rely on high-quality displays to provide immersive experiences. Micro OLED displays offer several advantages, including high pixel density, fast response times, and wide color gamut. The AR/VR segment is anticipated to expand at a CAGR of XX % between 2023 and 2031.

  • Based on End-user, the global Micro OLED market is segmented into consumer electronics, automotive, aerospace & defense, healthcare, and others.

The Consumer Electronics segment is projected to expand at a CAGR of XX% between 2023 and 2031, due to the rise of consumer electronics devices such as smartphones, tablets, smartwatches, and portable gaming consoles. These devices rely on high-quality displays to create appealing and immersive user experiences. Micro OLED displays offer numerous advantages for consumer electronics, including vibrant colors, high pixel density, and high contrast ratios. The consumer electronics industry segment held a XX% value share of the market in 2022.

The Automotive segment is expected to grow rapidly. The automotive industry is registering a revolution toward the use of connected and autonomous vehicles. Vehicles are becoming smart and technologically advanced, which is increasing the demand for high-quality displays in automotive interiors. Furthermore, the automotive segment is anticipated to expand at a CAGR of XX% between 2023 and 2031.

  • Based on region, the global Micro OLED market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is estimated to hold a substantial market share in the coming years, because North America has a thriving technology industry, important players in the display technology sector include manufacturers, research organizations, and new startups. This concentration of talent and resources in the region fosters the development and adoption of emerging technologies such as Micro OLED. The market in Asia Pacific is expected to register significant growth during the forecast period, as the region is home to some of the world's major consumer electronics manufacturers, including South Korea, Japan, and China. These countries have a large global display industry presence and superior production capabilities. These manufacturers are projected to incorporate Micro OLED technology into their product offerings, contributing to the region's market growth. The market in Europe is expected to expand at a rapid pace during the forecast period, because Europe has a broad and diverse consumer market, there is a significant demand for modern electronic devices. European consumers have a strong preference for expensive and cutting-edge products, as well as high-quality displays.

Report Scope:

Report Metric

Details

Market Value in 2022

US$ 192.8 Million

Market Growth Rate (from 2016 to 2031)

25.6%

Historical Data

2016 to 2021

Base Year

2022

Forecast Period

2023 - 2031

Units Considered

Value (US$ Million)

Market Segments

By Type, By Application, By End User, and By region

Key Companies Profiled

BOE Technology Group, eMagin Corporation, 4D Systems Pty. Limited, Seiko Epson Corporation, Semiconductor integrated Display Technology Co., Ltd (Sidtek), Shenzhen Enrich Electronics Co.,Ltd, Sony Semiconductor Solutions Corporation, US Micro Products, WINSTAR Display Co., Ltd., Yunnan OLiGHTEK Opto-Electronic Technology Co., Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Glass, Plastic, Polymers

  • Demand Side: Consumer Electronics, Automotive, Aerospace & Défense, Healthcare