研报 | Micro LED手表催化应用成长，预计推动2029年芯片市场规模突破4.61亿美元

Core Insights - The penetration rate of Micro LED technology in consumer electronics is accelerating, with significant product launches such as Samsung's 140-inch Micro LED TV in 2023 and Garmin's Fenix 8 Pro smartwatch in 2025, indicating a broader adoption across major sectors [2][4] - TrendForce forecasts that the Micro LED chip market value will reach $461 million by 2029, driven by the introduction of these key products [2] - Despite challenges such as high power consumption and pricing, Micro LED technology is expected to evolve and compete with more established OLED technology as it meets specific needs in outdoor environments and offers potential for product innovation [4][5] Market Dynamics - The current market acceptance of Micro LED's high power consumption and cost remains a significant challenge, hindering its short-term competitiveness against OLED [4] - The Fenix 8 Pro smartwatch, utilizing components from AUO, PlayNitride, and Raydium, showcases the growing Micro LED supply chain and the potential for cost optimization and technological maturity as applications expand [5] - Micro LED technology is gradually commercializing across various fields, including TVs, smartwatches, and automotive displays, marking significant technological breakthroughs with high brightness and contrast advantages [5]