By 2030, COB/MIP will account for nearly 50% of the LED display market.

COB Market Status (2025)

• Total LED display demand in 2025: 180,000 KK/month, equivalent to approximately 35,000 sqm/month in COB panel area.

• COB shipment breakdown by pixel pitch (monthly averages):

  • P1.2 – 17,000 sqm (dominant, largest share)

  • P1.5 and above – 9,000 sqm (rapid penetration in general display scenarios)

  • P0.9 – 8,500 sqm (maintaining a stable high‑end commercial segment)

• All three pitch categories recorded steady year‑on‑year growth versus 2024, confirming the accelerating scale‑up of COB adoption.

• 2025 annual output value of COB modules: RMB 3.8 billion, an 11% year‑on‑year increase. However, growth momentum slowed compared with 2024 due to ongoing price erosion across all pitch ranges, which partially offset revenue gains from higher volumes. The industry is now entering a new phase of “volume expansion, price optimisation, and structural upgrading.”

COB Outlook (to 2030)

• Short‑term (1‑2 years): P1.2 will continue to lead the market as the core shipment driver.

• Medium‑ to long‑term: As manufacturing matures and costs decline, P1.5 and above COB products will become increasingly cost‑competitive against same‑pitch SMD alternatives. Their shipment growth will accelerate annually and gradually overtake P1.2 as the mainstream category.

• By 2030, total COB monthly shipments are projected to reach 220,000 – 240,000 sqm. The product mix will be:

  • P1.5 and above – 60% (absolute dominant)

  • P1.2 – 25%

  • The remainder will be other pitch segments.

MIP Market Status (2025)

• MIP is still in its early stage of technology iteration and capacity build‑up.

• Current total MIP production capacity: approximately 2,000 KK/month, of which Micro MIP accounts for about 500 KK/month.

• Despite its small current scale, MIP shows strong growth potential and is considered one of the most important incremental segments for the LED display industry.

MIP Outlook

• A clear inflection point is forecast for 2028, when large‑scale capacity release will occur, driving the market to a RMB 3‑4 billion scale.

• Thereafter, the segment will maintain rapid growth and steady upgrades.

• By 2030, the overall MIP market is expected to approach RMB 7 billion, transitioning from a niche technology to a mainstream industry sector.

Combined COB + MIP Forecast (2030)

• Together, COB and MIP will continue to replace traditional SMD solutions, reshaping the industry’s value structure and penetration rates.

• By 2030, the two advanced packaging technologies are projected to account for nearly 50% of the total LED display market.

• Specific output value estimates for 2030:

  • COB‑based displays – RMB 23 billion, representing 36% of total industry output.

  • MIP‑based displays – RMB 7 billion, exceeding 10%.

  • Combined share – approximately 46‑50%, making them the defining forces in the future development of the LED display industry.