True MicroLED large format display market primed to break billion-dollar annual barrier by 2027

The True MicroLED display market for pro AV and consumer televisions is set to skyrocket. According to a newly released report from Futuresource Consulting, it will accelerate from just $24.0 million in 2023, to reach annual revenues of $26.2 billion in 2032, despite expected aggressive price erosion. 

The specialist research firm also notes that the market will break the one-billion-dollar barrier in 2027 and will continue to generate a cumulative $63 billion market within the first ten years.   

Industry aligns around True MicroLED  

“Over the last two years, the market has been awash with bad labelling and fuzzy marketing,” says Ted Romanowitz, Principal Analyst, Futuresource Consulting. “There were broad disagreements about the proper definition of MicroLED, and it became little more than a hot industry buzzword, creating confusion in the marketplace. 

“However, it is now broadly agreed that True MicroLED will be implemented as sub-100-micron chiplets, mass transferred onto a TFT backplane with active driver technology. Without digging into too much of the intricate detail here, that means we’re seeing significant interest from the giants of LCD panel manufacturer. They are motivated to leverage their expertise, drive down manufacturing costs, and build a bridge to widespread adoption.” 

Strategic inflection point anticipated  

In both pro AV and CE markets, Futuresource expects True MicroLED to provide a significantly improved viewing experience over SMD LED and MiniLED. The technology will also deliver a much better performance than LCD and OLED, while retaining many of the advantages of other emissive LED technologies.  

“Due to market pricing considerations, pro AV will be the larger, faster early adopter,” says Romanowitz, “though its growth will decelerate in later years. In contrast, early CE market adoption will be limited, yet falling ASPs will incubate mass CE markets in later years.” 

True MicroLED clusters maturing and ecosystem expanding  

The route to progress is not without its obstacles. For True MicroLED, the challenge is a highly complex manufacturing process that relies on many technology and process innovations. In addition, quality, yield, pricing and a wide range of technical, business and partner ecosystem issues need to be satisfactorily resolved. Despite the challenges, True MicroLED is on track to become a driving force for the industry. 

“In the past two years alone, the number of identifiable ecosystem clusters has expanded from two to eight with one aiming to commence shipments by the end of 2023.” states Romanowitz.  He continues, “The number of companies supporting with technology and manufacturing building blocks grew to more than 140.”      

For more information on Futuresource Consulting’s new global True MicroLED display market report, or to make a purchase, please contact ben.thrussell@futuresource-hq.com. 

About the author

Ted Romanowitz

Ted Romanowitz is a visionary product leader spearheading industry transitions in the Semiconductor, Consumer Electronics, Networking and Professional Audio Visual industries.  He held increasingly responsible marketing roles at Intel Corporation over his twelve year tenure, helping drive the highly successful Centrino Mobile Technology launch and Gigabit Ethernet market transition as well as owning the global consumer processor and chipset roadmap.  

Romanowitz begin in the Pro AV industry in the 1990s expanding the Vivatek brand for Delta Products and has spent the past decade focused on LED product management with Industry leaders Leyard/Planar and Christie Digital Systems. Currently an independent Consultant and Contributing Assistant Professor at Willamette University's Atkinson Graduate School of Management, Ted lectures, writes and consults in the areas of new product planning, go-to-market strategy, product and sales management.  

In August 2021, he co-authored a comprehensive industry report on MicroLED display technology focused on the Pro AV and Consumer Electronics industries.