(Yicai) Feb. 27 -- China-made micro light-emitting diodes, which is an emerging flat-panel display technology with a dot pitch of no more than 2.5 millimeters, are attracting more orders from India, South America and Russia as the price has more than halved in the last three years and as the technology becomes more widely applied.

Micro-LEDs, which are brighter, have a broader color spectrum and are more flexible than liquid crystal displays, are proving to be increasingly popular among buyers from India, South America and Russia, Yicai noticed at the 5th Universal Semiconductor and Display Expo that kicked off in Shenzhen yesterday.

One Indian merchant at the expo said he has come to buy micro-LED displays and controllers as he expects the market to develop quite fast this year.

Micro-LED displays now cost around CNY13,900 (USD1,931) per square meter, 66.6 percent less than what they did in the first quarter of 2020.

Demand for micro-LED displays is set to explode this year on more stage performances and gear rental markets, Li Yubin, an engineer at Xi'an Novastar Tech, told Yicai. All-in-one machines that are used for conferences, movie screenings, virtual filming and other new applications will be in high demand.

Last year, the global market of micro-LEDs was worth almost CNY23.7 billion (USD3.3 billion), with China accounting for 65.7 percent of this, said Zheng Haiyan, an analyst at Beijing-based Runto Technology.

In the future, micro-LEDs will also be applied in large displays, Li said. For example, the windows in cars and buses will be replaced with micro-LED displays and they can even be used on table surfaces and other household furniture, he added.

The micro-LED market will be worth over USD3 billion by 2028, representing a compound annual growth rate of over 33 percent, Zheng said. And the near-eye display market will be worth over USD10 billion by 2028, expanding at a yearly compound rate of almost 50 percent.

Editors: Liao Shumin, Kim Taylor