Core Insights - Micro LED technology, based on inorganic semiconductor materials like gallium nitride, offers advantages such as high stability, high luminous efficiency, infinite contrast, high brightness, and no burn-in risk compared to traditional LCD and OLED technologies [1][5][10] - The global semiconductor display panel industry is expected to grow steadily, with an estimated market value of approximately $114.1 billion by 2025 and $120.2 billion by 2027 [1][10] - The Micro LED industry is at a critical stage of scaling production, with a projected market value of $1.2 billion by 2027 and a compound annual growth rate (CAGR) of 86% from 2023 to 2027 [1][10][11] Micro LED Industry Overview - Micro LED (μLED) technology involves miniaturizing LED chips to below 50 micrometers, integrating them into a driving substrate, and allowing each microchip to emit light independently [2][3] - Micro LED can be categorized by chip size, driving method, application scenario, and technology path, including ultra-micro (<20μm) and micro-level (20-50μm) classifications [3][4] Industry Policies in China - China has implemented several policies to support the semiconductor display industry, addressing previous "chip and screen shortages" and promoting the development of Micro LED technology [6][7] - Key policy documents include guidelines for high-quality development in the audiovisual electronics industry and plans for digital transformation in the electronic information manufacturing sector [6][7] Industry Supply Chain in China - The upstream of the Micro LED industry focuses on the R&D and production of core materials like LED chips, glass substrates, and driver ICs, with a push for domestic production [8] - The downstream applications cover consumer electronics, automotive displays, and large displays, with increasing demand for flexible LED in smart vehicle interiors [8] Global Micro LED Industry Development - The global Micro LED industry is transitioning from technology validation to mass production, with significant growth driven by diverse downstream applications [10] - The industry faces challenges in core technology breakthroughs and cost control, but advancements in transfer yield and integration technology are promising [10][11] Competitive Landscape in China - The Micro LED industry in China is characterized by high barriers to entry and complex processes, with major players including BOE Technology Group, Tianma Microelectronics, and others [11] - The competitive landscape is concentrated in four main regions: mainland China, Taiwan, South Korea, and Japan, with a focus on technological advancements [11] Future Development Trends in China - The Micro LED industry in China will focus on three core areas: technological breakthroughs, supply chain collaboration, and application expansion [12][13][14] - Key trends include enhancing core processes, fostering regional industrial clusters, and deepening penetration into high-end commercial displays and consumer electronics [12][13][14]