People's lives are inseparable from LED display screens, and they are constantly demanding higher resolution, higher contrast, and more brilliant screen pictures, in order to get close to the real visual experience. Screen technology is upgraded about every 6-8 years, and it has reached the "Ultra HD" visual era.
MiniLED is narrowly defined as a related screen product manufactured based on <100um LED chips. It has the advantages of better color rendering, higher contrast, support for higher display pixels, and longer life span. It is the best in the "Ultra HD" market Technology path. At present, the upstream and downstream chip, packaging, screen and other supporting technology reserves of the upstream and downstream of the industry chain have been basically completed, and only awaiting mass production and application promotion, and focusing on the ultra high definition market.
According to calculations in the next 5 years, it is estimated that the MiniLED direct display market is expected to reach a market size of 35 to 42 billion yuan, and the MiniLED backlight display is expected to reach a market size of 10 to 15 billion yuan. The total market demand for the two is expected to reach about 50 billion yuan. It will greatly boost upstream demand for LED chips and LED lamp beads.
In addition, MicroLED is the core solution of the next-generation display technology that is agreed by the industry chain, and its core definition: LED chip size <50um. The advantages of MicroLED mainly include heterogeneity, high brightness, ultra-high resolution and color saturation, fast response speed, long life, etc. Compared with LCD and OLED, it has outstanding advantages and is an upgraded version of MiniLED.
However, MicroLED still has many technical problems to be solved, including flip-chip technology, mass transfer technology, thermal congestion and other issues that lead to low yield and high cost. Although some manufacturers have launched MicroLED display products, the actual chip specifications are not yet available. It has reached the strict Micro level, and the cost is also high, which is still far from being widely accepted in the market.
According to estimates by related research institutions, the market size of MicroLED is expected to reach 100 million yuan in 2021, of which wearable devices such as smart watches are its main application directions. It is expected that MicroLED is expected to maintain a growth of about 75% from 2021 to 2024, and MicroLED by 2024 The market size will reach 5 billion yuan. According to the estimation of Mini/MicroLED market demand, it is expected to drive the LED lamp bead market by about 20-28.5 billion yuan, and it is expected to drive the market demand for LED chips about 12-17 billion yuan.