Omdia: It is estimated that the shipments of Micro LED display panels will skyrocket to 34.6 million units by 2031.

Omdia's latest research predicts that by 2031, the shipment volume of Micro LED display panels will soar to 34.6 million units. Despite the impressive growth, Micro LED display panels are expected to account for only 0.9% of the total display panel market, as the technology is only competitive in certain specific applications during the forecast period. In a report from Omdia in February 2024, Apple Inc. (AAPL.US) delayed its Micro LED display project for smartwatches, causing some OEM brands and related suppliers to slow down the development of related components and devices. As a result, Omdia significantly lowered its market forecast compared to earlier predictions in 2024. Despite some delays, many industry players are actively developing Micro LED display panel technology. Omdia predicts that by 2027, the shipment volume of Micro LED display panels will reach 1.7 million units, mainly driven by LED-on-silicon (LEDoS) for ultra-small display devices, such as extended reality (XR) devices, especially smart glasses designed for outdoor use. By 2031, XR devices are expected to account for 24.4% of the Micro LED display panel market. Jerry Kang, Senior Director of Display Research at Omdia, stated that smart glasses require lightweight design, low power consumption, and high readability in sunlight. Some LEDoS suppliers have already achieved products with a diagonal size as small as 0.15 inches, making them more suitable for lightweight smart glasses compared to other display technologies. In 2024, many display manufacturers introduced new prototypes of Micro LED display panels, mainly targeted at areas such as automotive, public display panels, and virtual studios. This trend indicates that suppliers expect Micro LED display panels to be more widely adopted in niche applications. Jerry Kang pointed out that due to cost competitiveness, many display suppliers are focusing on entering the product segments of OLED or LCD that are difficult to meet specific display sizes and performance requirements. At the same time, some component and device suppliers are actively introducing advanced technologies to enhance the manufacturing capabilities of Micro LED display panels.