Micro LED Display Market Trend & Technology Status

Confidential. © 2019 IHS MarkitTM. All Rights Reserved.

©2019 IHS Markit. All Rights Reserved.



Micro LED Display Market

Trend & Technology Status

27th June 2019

Son, Seung kyu Richard

孫承圭



Contents

1. Overall of wide color gamut display market

> History of wide color gamut display market

> Wide color gamut display market forecast

2. In-depth analysis for micro LED display industry

> Micro LED display focus on the large display market

> Why are set brands interesting in the micro LED display

> Micro LED display manufacturing process issues

> What are problems of mass transfer technology

> Micro LED display market forecast

2



History of wide color gamut display market

• Color gamut is measured by an area ratio using the International Commission on Illumination’s (CIE) XY chromaticity coordinates.

• The REC. 2020 with the widest color space has 34% more space than the NTSC 1953. The standard broadcasting signal recommended by

ITU is shining a light on WCG display, which is getting much attention.

• In 2018, WCG display market still represents a small share of the display market

3

Color gamut rate by Technology at NTSC

TVs Color gamut

(NTSC %)

CRT 78% ~ 82%

PDP 90% ~ 95%

OLED 100%↑

LCD (WCG CCFL) 85% ~ 95%

LCD (White LED) 68% ~ 78%

LCD (C/F improvement + LED) 90%

LCD (RGB LED) 90% ~ 95%

LCD (Quantum dot film) 100%

QD color filter + Blue OLED 100%↑

Mini/Micro LED(R,G,B) 100%↑

sRGB / REC.709

NTSC 1953

Adobe RGB

DCI-P3

REC.2020

RGB OLED WOLED QD film Micro LED

LCD – LED/CF

Non-self emission

OLED

Self-emission

QD - LCD

Non-self emission

Blue LED

+ R,G phosphorColor filter

Tuning

Micro LED

Self-emission

• Most use a combination of blue

GaN- or InGaN-LED chips with

YAG phosphors, which emit light

over a wide wavelength range with

FWHM of 100nm, creating a white

spectrum that widely covers the

RGB wavelengths.

• The CF solution adjusts the

thickness of the CF to prevent

some wavelengths from

penetrating each CF, improving

color gamut.

• The on-surface type

refers to a film coated

with red and green QDs.

• This is then placed on

top of the LGP in the

BLU, and then the blue

light spread across the

surface from the LGP is

absorbed by the QD film,

mixing with red and

green light to create

white light

• LGD uses white OLED + oxide

TFT. WOLED requires open

mask evaporation and color filter.

Using color filter can reduce the

brightness of the OLED, so LGD

uses an RGBW color filter,

which has a better brightness

than RGB C/F.

• SDC used RGB OLED + LTPS

TFT. RGB OLED requires a fine

metal mask, and its process did

not need a color filter.

• In general, displays with

microscopic LED chips

smaller than 100

micrometer (μm) are

called micro LEDs.

Definition of Wide color gamut Major technology of Wide color gamut display market by time

2004 20182012 2015



0%

5%

10%

15%

20%

25%

0

5

10

15

20

25

2015 2016 2017 2018 2019 2020 2021 2022 2023

OLED solutions

QD solutions

Micro LED

WCG penetration rate

© 2019 IHS Markit

Mil

lio

ns

of

sq

uare

mete

rs

All of WCG display must be growing with together

• Various WCG solution will be driving market growth in each target

display market.

> OLED Solution : High-end TV & smartphone

> QD solution : Mid-High end TV

> Micro LED : Small & Ultra Large size display

4

CAGR 22%(2018~2023)

15%

20%

9%

TV74%

Monit…

Notebook…

Tablet1%

Smartphone22%

Others0%

2018

TV83%

Monitor1%

Notebook1%

Tablet0%

Smartphone15%

Others0%

2023



Micro LED display focusing on large display

market Divider slide subtitle

5



Display set brands leads the mini/micro LED display technology and product

6

Issues for Micro LED display industry

Major application for

Micro LED display by

companies

Expected target market Smartphone, Smartwatch AR, HUD etc. Signage, TV, etc.

Display size ≤6 inch - Small display Large display

LED chip size <10µm 50~150µm

Market entrance level Need to new LED chip technology and cost competing

with OLED cost

Current LED chip technology, cost issues more free than small size

display

APPLE(LUXVUE)+TSMC SONY(2016)SONY(2012)

LG(2018)Samsung (2018)

Google / glo

ITRISamsung (2019)

Plessey



Micro(Mini) LED display , Ultra large size display more competing than small size

7

Year 2012 2016 2018 2019

TV brand Sony Samsung Electronics LG Electronics Samsung Electronics TCL Hisense

Items TV TV Signage Signage TV Signage Signage Signage

Size 55” 396” 146” 173” 75” 219” 118” 145”

Resolution 1920x1080 7680x2160 3840x2160 3840x2160 3840x2160 5760x2160 3840x2160 3840x2160

Sony- 396” Samsung - 146”, 219” LG - 173” TCL - 118”



Why are set brands interesting in the micro LED display

8

OLED

Panel size

Pre

miu

m L

eve

l

Quantum

dot

Micro LED

LCD

: Present

: Future market expansion direction

✓ Limited number of suppliers

✓ Ultra Lager size issues

✓ Chicken game dragging down price

✓ China panel marker’s rise in market

influence

✓ Carries less premium value

✓ Wide color gamut, Rapid

response time, Flexibility in size

designing

✓ Capable to carry super premium

price tags targeting a niche

market

✓ Possible to build stable supply

chains with abundant LED

manufacturing lines

✓ Can penetrate into existing

markets after its manufacturing

technology matures and cost is

down

Position of Micro LED display forecast in the display industry

0

0.5

1

1.5

2

2.5

3Luminance Efficiency

Luminance

Contrast Ratio

Life Span

Water-OxygenReistance

Response TimePower Consumption

OperatingTemperature

Flexibility

Cost Competitiveness

Shock Resistance

LCD OLED Micro LED

Property comparison of LCD and OLED with Micro LED



Real micro LED TV released the 2019 CES by Samsung electronics

• 75 inch • 146, 219 inch

9

Items Signage

Display

Size 146” 219”

Resolution 3840x2160 5760x2160

Pixel Per Inch 30.18 58.74

Module

Resolution 240xRGBx240 240xRGBx240

Number 16X6_15.9” 18X9_15.9”

Backplane PCB

LED

Pixel Pitch 847μm

Chip Size 125x225μm

Supplier SanAn

Items TV(e)

Display

Size 75”

Resolution 3840x2160

Pixel Per Inch 58.74

Module

Resolution 480xRGBx270

Number 64_(8X8)_9.38”

Backplane LTPS

LED

Pixel Pitch 432.4μm

Chip Size 34x85μm

Supplier Playnitride

9.38”

Module spec.(e)

Module spec.(e)



Micro LED display technology issues and

market forecast Divider slide subtitle

10



Actively cooperating with LED chip manufacturers and display set brands

• The existing dominant LED makers are most likely to remain at their position in the micro LED market.

• Display set makers are cooperating with leading LED chip makers and building the supply chain for micro LED display.

11

0.0%

4.0%

8.0%

12.0%

16.0%

LED manufacturer capacity share

Mini RGB Micro RGB

Chip size 100~250um <100um

Chip structureFlip(with/without

sapphire)

Flip, vertical, 3D

without sapphire

Transfer

technology

Die(Chip) bonding/

Mass transferMass transfer

BLU type Self emitting Self emitting

Thickness <5mm <1mm

Power Normal Low

Cost High Ultra High

Technology level Order production Under development

Compare with Mini and Micro LED



Micro LED display is not impossible, it’s just difficult

12

Epi Wafer

Epi Chip

Mass transfer

Ingot/substrate

Sapphire Silicon

orMaking uniform surface

for growing LED Epi

Making LED structures

on a Epi Wafer

Singulation & Sorting

LED chips

Positioning LED Chips

as RGB pixel orderor

Color Conversion

1

2

3

4

Micro LED

Materials/Components

Micro LED

Module/Mass transfer

LED chip manufacturers

TV set makers



Cost reduction of micro LED chips is big issues to enter display market

• Large-size substrate to increase productivity per substrate

> 4 → 6 → 8 inch(Major substrate : Sapphire)

> Micro LED chip structure : Vertical type is best

• Epi wafer wavelength uniformity : 5nm → 2nm

> Need to precise control for temperatures on MOCVD process

> Reduce to defect : 100 class clean room

13

4

inch

6

inch

8

inch

X 2.25

X 1.8

N LayerP Layer

Flip Vertical

Micro

LED

N Layer

P Layer

Submount

Sapphire substrate

N Layer

P Layer

Submount

N Layer

P LayerP LayerN Layer

Sapphire substrate

P LayerN Layer

Lateral

Normal

LED

Ex) Length : ½ → Area ¼ → Cost 1/4

Conductive

substrate

2 nm↓

x

x

x

Good

x

Conventional LED chip for BLU Micro LED chip for pixel

→defect

No Good



Too many mass transfer technology introduced, but it is just concept of technology

14

Mass transfer technology Owner By control method Remarks

Electrostatic Apple(Luxvue) Electrostatic force

R&D stage

(Patent)

Electromagnetic Playnitride Electromagnetic force

Elastomer stamp(PDMS) X-celeprint Van der Waals force

Laser assisted(LLO) Sony, QMAT… Laser

Pressure dependent adhesion KIMM Mechanical deformation

Monolithic LETI Directing bonding to CMOS

Fluidic assembly Foxconn(eLux) Fluidic drag force

Solid printing VueReal Printing

Stretchable transfer Playnitride Stretchable film

Resolution- Subpixel

number

Die bonding

(18,000 UPH)

4K - 24.8 million 2 month

8K - 100 million 7 month ?

Mass transfer technology by companies

Die bonder (1 by 1)



Speed and accuracy are key function for mass transfer technology

• Stamp method • Laser method

15

Stamp

Micro LED R,G,B chip on carrier

R G B R G B

R G B R G B

R G B R G B

R G B R G B

R G B

R G B

R G B

R G B

R G B R G B

R G B R G B

R G B R G B

R G B R G B

R G B

R G B

R G B

R G B

Q/C passed area

R G B R G B

R G B

Backplane

R G B

R G B

Single or multi laser

Backplane

R

R

1. RED epi chip 2. Green epi chip 3. Blue epi chip

G B

BG

Laser

Micro LED chip

Functional substrate for laser transfer



Micro LED display to grow high CAGR in near future

• Currently, Infancy stage in term of manufacturing process, supply

chain, and marketing strategy

• The market will likely start off on a small scale, focusing on limited

amounts, and then slowly increase.

• Large display will be the key growth engine for micro LED displays.

• From 2021 to 2026, CAGR will be expected the 100%.

16

Public display

Smartwatch TV

AR

Ultra large display Ultra small display

Micro LED display market forecast

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2020 2023 2026

Thousands o

f units

Entering

CAGR 100%(2021~2026)



Report introduction : Micro LED Display Technology & Markit – 2019

17

1. Executive Summary

2. Market Issues

3. Market Forecast

4. Technology Issues

5. Cost Estimation

6. Display Developers Trend

7. LED, Equipment, Component Trend

- 180 Slides in Power-point

Detailed Database in Excel

1. Micro LED Display Market Forecast

2. Micro LED Wafer Market Forecast

3. Micro LED Cost Estimation


Contents

1.0 EXECUTIVE SUMMARY 4

2.0 MICRO LED DISPLAY MARKET ISSUES 20

Appearance of Micro LED Displays

TV set shipment has been gradually falling

TV set with OLED & QD LCD is still limitedly increasing

Full screen smartphone needs the sensor-integrated display

Real full-screen smartphones will be realized in a few years

LED Manufacturers are looking for new demand

Definition of Micro LED & Micro LED Display

SWOT analysis of Micro LED Display market

3.0 MICRO LED DISPLAY MARKET FORECAST 29

Summary of Micro LED Display market forecast

Micro LED Display shipment forecast

Market Growth Estimation by Application

Micro LED Display shipment forecast by application

Micro LED Display average selling price forecast

Micro LED Display shipment forecast by pixel per inch

Micro LED Display shipment forecast by color expression

Micro LED Display shipment forecast by Chip Type

Micro LED Display shipment forecast by Backplane

Micro LED Display shipment forecast by Mass Transfer

Micro LED Display shipment forecast by LED size

Micro LED Wafer shipment forecast by Wafer Size

Micro LED Wafer shipment forecast by application

Micro LED Display average wafer price forecast

Micro LED Display average wafer expense forecast

4.0 MICRO LED DISPLAY TECHNOLOGY ISSUES 69

Overall of micro LED display technology issues

Technology Roadmap

Competing probability of key technologies

Comparing Micro LED Display with LCD and OLED

Micro LED Display module manufacturing process

Current Micro LED TV manufacturing process

Technical Factors for manufacturing Micro LED Displays

Definition of Micro LED & Micro LED Display

LED chip manufacturing process

Ingot/substrate

Epi wafer/chip

Backplane technology

Mass Transfer technology

Defects and Repair

18


Contents

5.0 MICRO LED DISPLAY COST ESTIMATION 109

Summary of cost estimation

Cost reducing factor in general case

Cost reducing factor in special case

Assumptions for Cost Estimation

Cost structure analysis #1~2 – AR Device (0.9-inch Monochrome vs. Color

Converted)

Cost structure analysis #3~4 – Smartwatch (1.5-inch CMOS vs. LTPS)

Cost structure analysis #5~6 – Smartphone (6.5-inch Rigid vs. Flexible)

Cost structure analysis #7~8 – Automotive (10-inch RGB LED vs. Color

Converted)

Cost structure analysis #9~10 – Monitor (30-inch LTPS vs. Oxide)

Cost structure analysis #11~12 – TV (75-inch Modular LTPS vs. Modular

Oxide)

6.0 MICRO LED DISPLAY DEVELOPERS TRENDS 138

Apple

AU Optronics

China Star Optoelectronics Technology

glō

Hisense

Jade Bird Display

LG Electronics

Plessy Semiconductors

Samsung Electronics

Sony

TCL

Tianma

7.0 MICRO LED CHIP, EQUIPMENT & COMPONENT TREND 161

Advanced Display Research Center

Aixtron

eLux

EPISTAR

Industrial Technology Research Institute

Jasper Display Corp.

Korea Institute of Machinery and Material

Lumens

Playnitride

Sanan Optoelectronics

Toray Engineering

X-Celeprint

Presentation Name / Month 2018

19

IHS Markit Customer Care

[email protected]

Americas: +1 800 IHS CARE (+1 800 447 2273)

Europe, Middle East, and Africa: +44 (0) 1344 328 300

Asia and the Pacific Rim: +604 291 3600

Disclaimer

The information contained in this presentation is confidential. Any unauthorized use, disclosure, reproduction, or dissemination, in full or in part, in any media or by any means, without the prior written permission of IHS Markit Ltd. or any of its affiliates ("IHS Markit") is

strictly prohibited. IHS Markit owns all IHS Markit logos and trade names contained in this presentation that are subject to license. Opinions, statements, estimates, and projections in this presentation (including other media) are solely those of the individual author(s) at the

time of writing and do not necessarily reflect the opinions of IHS Markit. Neither IHS Markit nor the author(s) has any obligation to update this presentation in the event that any content, opinion, statement, estimate, or projection (collectively, "information") changes or

subsequently becomes inaccurate. IHS Markit makes no warranty, expressed or implied, as to the accuracy, completeness, or timeliness of any information in this presentation, and shall not in any way be liable to any recipient for any inaccuracies or omissions. Without

limiting the foregoing, IHS Markit shall have no liability whatsoever to any recipient, whether in contract, in tort (including negligence), under warranty, under statute or otherwise, in respect of any loss or damage suffered by any recipient as a result of or in connection with

any information provided, or any course of action determined, by it or any third party, whether or not based on any information provided. The inclusion of a link to an external website by IHS Markit should not be understood to be an endorsement of that website or the site's

owners (or their products/services). IHS Markit is not responsible for either the content or output of external websites. Copyright © 2018, IHS MarkitTM. All rights reserved and all intellectual property rights are retained by IHS Markit.

20

Documents

Micro LED Display Market Trend & Technology Status