Top Ten Hot Events in the LED Industry in 2024

2024 is about to pass.

What other hot events have occurred in the LED industry this year?

What potential impacts will it have on the future development of LED?

LEDinside will take stock of it for you one by one

1.Meta\Google releases Micro LED AR glasses prototype

In September and December 2024, Meta and Google successively released prototypes of AR glasses, both equipped with full-color Micro LED display technology.

AR glasses are currently one of the technological products that mainly apply Micro LED near-eye display technology. Micro LED has the characteristics of higher brightness, faster response time, smaller size and longer service life, which is very suitable for the high display requirements of AR glasses. Therefore, the number of AR glasses using Micro LED technology has increased year by year in recent years.

With the application support of the two major technology giants, the popularity of Micro LED near-eye display technology has further increased. In the future, with the promotion of brand manufacturers and the rapid follow-up of technology development, the pace of commercialization of Micro LED near-eye display technology is expected to accelerate again and become the next trend in Micro LED applications.

2. BOE Huacan\Stein Technology\Leyard\Chenxian Optoelectronics Micro LED project goes into production

In 2024, on the supply side, Micro LED production lines will gradually bear fruit. BOE's Huacan Zhuhai 6-inch mass production line, Stan Technology's Xiamen Micro LED production line project, Leyard Wuxi's first phase self-developed new generation high-end MIP production line, and Chenxian Optoelectronics' Chengdu TFT-based Micro LED mass production line have all been put into production in 2024. In addition, Tianma's Micro LED production line has also been successfully completed on December 30. These projects involve Micro LED chips, packaging, LED display modules, etc.

As Micro LED production capacity is gradually prepared, Micro LED technology will mature and improve at an accelerated pace. In 2025 and the near future, Micro LED technology will be used in more displays, AR/VR head-mounted display devices, wearable devices, vehicle displays and other fields.

3. National policies drive the explosion of LED movie screen applications

On May 24, the National Development and Reform Commission and six other departments issued the "Implementation Plan for Promoting Equipment Updates in the Cultural and Tourism Fields", which mentioned the need to promote a new generation of cinema equipment systems, implement a large-scale update plan for cinema LED screen projection systems, strengthen independent intellectual property rights cinema equipment brands, and reshape the film projection business form.

Driven by policies, LED movie screens have become one of the latest popular applications in the industry in 2024. In 2024, the domestic LED movie screen market will usher in a period of rapid growth. According to incomplete statistics from LEDinside, as of December 30, 2024, the number of newly completed LED cinemas in China reached a record high of 42, and LED display applications have expanded again. While the domestic LED movie screen market is developing, companies have also begun to bring LED movie screens to the larger global market.

4. "Black Myth: Wukong" and "Flowers" are very popular, and LED has become the driving force behind the game/film and television industry

In 2024, the domestic game/film and television industry will blossom, and the game/film and television works "Black Myth: Wukong" and "Flowers" have become hot topics of discussion. Driven by "Black Myth: Wukong", the gaming industry is booming, and the rapid development of Mini LED backlight monitors, LED displays, and LED+AI technology continues to penetrate the game production side and application side, giving a helping hand to the development of the entire game industry chain.

Behind "Flowers" is the blessing of LED virtual shooting technology, which has been popular in recent years, which shortens the production cycle, improves the immersive shooting effect, and saves post-production costs. Today, the domestic LED virtual shooting industry is booming. According to incomplete statistics from LEDinside, there are now more than 40 LED virtual shooting studios in China.

5. Changes in industry giants, Lumileds\ams OSRAM\Samsung LED business changes

Image source: Paixin.com genuine gallery

In 2024, many well-known companies reported changes in their LED businesses. Lumileds announced the sale of the company's traditional automotive lighting and accessories business for US$238 million in order to enhance the company's competitiveness; the cooperation between ams OSRAM and Apple's Micro LED watch business was cancelled. However, ams OSRAM is still actively developing Micro LED in the augmented reality and automotive display markets; Samsung LED plans to exit the lighting LED business from 2H25 and develop towards more profitable products.

The business changes of LED corporate giants will have a considerable impact on the development situation of LED emerging technologies and the development pattern of the industry. There may be more new risks and opportunities in the LED industry in the future, waiting for more players to explore.

6. Nationstar Optoelectronics and Leyard large-scale LED base projects were signed and put into production

In 2024, Nationstar Optoelectronics' Geely Industrial Park with a total investment of 2 billion yuan will be put into operation. The project focuses on the production of RGB small spacing, Mini/Micro LED, TOP/CHIP LED and other products, which are mainly used in ultra-high definition and new smart displays, smart car lights, smart homes, UV sterilization and other fields.

In March, Leyard signed a contract with Changsha for its central China headquarters and R&D and production base projects. The project has a cumulative investment of 1 billion yuan, focusing on applications in the fields of intelligent display, urban light environment, new cultural tourism formats, and virtual reality technology.

LED companies continue to carry out large-scale production capacity layout to prepare for the trend of diversified application development of LED display and lighting in 2025 and in the future.

7. Zhaochi\Lehman\Alto established overseas companies, and domestic companies accelerated their expansion into Southeast Asia and the Middle East markets

In 2024, the overseas market demand for LED displays will continue to grow. Among them, the Asia-Pacific region (especially Southeast Asia and the Middle East) will perform better. LED companies have accelerated their overseas expansion to seize the growth opportunities in emerging markets.

Zhaochi announced its investment in establishing a production base in Vietnam in June, and announced in December that it planned to establish a Singapore subsidiary; Ledman Optoelectronics established a Dubai subsidiary in May; Alto Electronics announced in September that it would invest in the establishment of a Thai subsidiary....

The company continues to be optimistic about the development potential of overseas markets such as Asia, Africa and Latin America in the next two to three years. It is expected that in the future, more domestic companies will follow the industry trend and choose to go to overseas markets such as Southeast Asia to seek more business opportunities.

8. Jingneng Optoelectronics silicon substrate epitaxy helps realize many of the latest Micro LED research results

In 2024, Micro LED technology will continue to achieve technological breakthroughs. Among them, with the help of Jingneng Optoelectronic silicon substrate epitaxial materials, Hunan University, Fudan University and other universities have successively realized the latest technological achievements such as 400,000 nit ultra-high brightness, 3300PPI ultra-high resolution 0.39-inch Micro LED full-color micro display chip; 10 million nit ultra-high brightness green Micro LED micro display module; high-performance silicon-based InGaN red Micro LED.

Large-size silicon substrate GaN-based Micro LED epitaxial technology has superior characteristics such as high substrate removal yield, high CMOS bonding yield, large size, low cost, and low warpage. In the future, silicon substrate epitaxy technology will become one of the key drivers for the industrialization of Micro LED displays.

9. Unilumin Technology\Qianli Jucai\Hongli Zhihui\Ledman Optoelectronics welcomes its 20th anniversary and witnesses the growth of the LED industry

2024 is a special node for many LED companies. Unilumin Technology, Powerful Jucai , Hongli Zhihui, Ledman Optoelectronics and other companies will celebrate their 20th anniversary in 2024. These companies are key components of China's LED industry. They focus on LED technology and have formed their own technological advantages and industry status in the long process of development. They are also the epitome of the rapid development of China's LED industry from scratch, witnessing the rise of China's LED industry and the entire process from tracking to surpassing.

10. Nova Nebula and Jinko Electronics were listed, and the capital market responded enthusiastically

In 2024, Nova Nebula and Jinko Electronics were officially listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, and the market response was enthusiastic. Nova Nebula rose by as much as 230% on its first day of listing; Jinko Electronics broke the Hong Kong Stock Exchange's technology IPO oversubscription record, rising 45.43% on its first day.

This shows to a certain extent that the capital market is optimistic about the prospects of the LED industry. In the future, it may drive more LED companies to speed up the listing process and leverage the capital market to promote the innovation of LED technology, the expansion of market scale and the improvement of the industrial chain, and comprehensively enhance the competitiveness of China's LED industry.

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