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TrendForce reports that the revenue from Micro LED chips is projected to reach approximately US$38.8 million in 2024, with large displays remaining the primary source of contribution. Looking ahead, breakthroughs in technical bottlenecks are on the horizon, while applications in automotive displays and the increasing maturity of full-color AR glasses solutions are expected to propel Micro LED chip revenue to $489.5 million by 2028.
TrendForce has outlined 10 key trends shaping the technology landscape in 2025. Highlights include:
Meta has just unveiled its first-ever full-color AR glasses, Orion, at Meta Connect 2024. These innovative glasses utilize LEDoS (silicon-based Micro LED) technology and are impressively lightweight at just 98 grams. TrendForce’s recent analysis indicates that 2024 is set to be a crucial year for leading brands venturing into the near-eye display market within the metaverse. Nevertheless, Meta’s AR glasses are still struggling to achieve an optimal balance between FOV and resolution, as well as developing a more robust application ecosystem. It’s predicted that these devices may not be commercially available until after 2027.
Efforts to reduce the cost of Micro LED chips through size miniaturization are ongoing. Companies like LGE, BOE, and Vistar continue to invest in large display applications, while AUO has been focusing on developing smartwatch products. There is also growing demand for new display applications in head-mounted devices and for automotive uses. TrendForce’s “2024 Micro LED Market Trend and Cost Analysis Report” reveals that the market value of Micro LED chips is projected to reach $580 million by 2028, with a CAGR of 84% from 2023 to 2028.
TrendForce’s latest LED industry report indicates that the global market is set to recover in 2024, with estimated revenues reaching US$13 billion—marking a YoY growth of 3%.