n-tech Research says that the Micro-LED lighting will experience very fast growth, with revenues exceeding $1.4 billion by 2028 with 170 million lighting units shipped.
n-tech says that some industry analysts say that micro-LED lighting will always remain a tiny niche and only cater for novelty lighting. n-tech, however, sees several advantages of micro-LEDs compared to conventional HB LEDs and expect that these will be enough to earn micro-LEDs a healthy share of the LED lighting market.
The key applications for micro-LED lighting, according to -tech, will be automotive, residential, commercial, industrial building, mood/novelty lighting and outdoor lighting.The first market to adopt the technology will be outdoor and novelty lighting, with automotive lighting emerging next.
