According to the Astute Analytica study on the global Mini LED Display Market, the size of the market will increase from USD 174.5 million in 2020 to USD 9,343 million by the year 2027, registering a remarkable compound annual growth rate (CAGR) of 78.3% from 2022 to 2030.
The report’s segmentation section focuses on each category while also identifying those with the greatest influence on the Mini LED Display Market. The segmentation provided the framework for locating businesses and assessing their financial health, product portfolios, and potential for future growth. In order to forecast the level of competition, the second step involved analyzing the core competencies and market shares of leading companies. To determine the size of the market as a whole, a bottom-up approach was adopted.
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Moreover, international alliances support the market growth significantly. For instance, in 2019, Unity Opto Group Co received long-term orders from US-based LED lamp vendors who are changing suppliers to prevent a hike in US customs duty rate on imports from China. Thus, such steps aid the mini LED market growth.
The high cost of the equipment, coupled with the high number of ICs required to function can hinder the market growth. Although there is a large amount of research in this field, many manufacturers might face a setback to adopt to different manufacturing process to mass produce mini LEDs. Thus, such a factor might hamper the market growth to a certain extent.
Rising demand for miniaturized display in consumer electronics devices
The rise in demand for better display solutions by end users drive the growth of this market. The ever-changing preferences of consumers in electronics area is increasing the growth rate. The prominent players in the market are focused on launching innovative products keeping in mind the needs of the end users. For instance, in October 2021, Apple announced its plans to introduce a 27-inch iMac with mini-LED and ProMotion technology in the first quarter of 2022. The 27-inch display for the iMac will showcase mini-LED backlighting, and many other features. Thus, the increasing demand for such displays drives the growth of the segment.
High dynamic range, power-saving capability & the lower failure rate compared to traditional LEDs
The mini LED industry is witnessing a wide array of advancements, such as display sizes, picture quality, and power consumption characteristics. The launch of such alluring and low-power-consuming products with a high success rates push the demand for these products and increase the preference rate over the conventional LEDs. The rising research and development activities to develop mini LEDs with cutting-edge features bolster the market growth.
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The global mini LED display market is segmented into form, application, and panel size.
- Backlight Source (for LCDs)
- Self-emissive Pixel Emitters
The backlight source segment is anticipated to hold the largest market share owing to the increasing use of these in liquid crystal displays. The rise in consumer electronics drive the demand for backlight sources for LCDs.
- Automotive Display
- Consumer Electronics
- Gaming Displays
- Home Theatre Systems
- Wearable Devices
- Indoor/Outdoor Signages
- Cinema Displays
- Industrial Devices
The consumer electronics segment held the largest share of nearly 70% owing to the rising usage of smartphones and laptops, especially among the millennial population. On the basis of consumer electronics, the notebook and laptop segment is expect to grow tremendously at a rate more than 83%. On the basis of commercial segment, the indoor and outdoor signages sub-segment market value is estimated to cross USD 600 million by 2027.
By Panel Size
- < 12″
- 12″ – 32″
- 32″ – 100″
The 12 inch to 32 inch segment held the largest share in 2020 owing to the high preference rate of this dimension in home settings, as well as in automobiles. The panel size segment of more than 100 inch is estimated to grow at a rate of 73.2% due to the increasing use of these panel size in commercial settings, such as cinema displays.
By region, the global mini LED display market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region is expected to hold the largest market share of more than 58% owing to the increasing number of automobile industry. Moreover, the high population in countries such as India and China, demand a high in the smartphone and other display usage, which increases the growth of the mini LED display market during the forecast period.
The European region is anticipated to grow at a steady rate owing to the rising product launches by electronics companies in the region. Furthermore, increasing demand for consumer electronics in other regions is driving the growth of the mini LED display market in the North American region. Moreover, the market in the Middle East and Africa is projected to grow at a steady rate.
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The prominent players operating in the global mini LED display market include Apple Inc, BOE Technology Group Co, Japan Display Inc., San’an Optoelectronics, SONY INDIA, Tianma Microelectronics Co., Ltd., Unity Opto, VerLASE Technologies LLC, X-CELEPRINT, among others. In addition to these players, a few major players from China and Taiwan include AOC, Advanced Optoelectronic Technology Inc (AOT), AU Optronics Corp, EPI LEDS Co., Ltd., EPISTAR Corporation, EVERLIGHT Electronics Co., Ltd., Harvatek Corporation, Hongli Zhihui Group Co, HC Semitek Corporation, HGC Technology Co., Ltd, Innolux Corporation, Lextar Electronics Corporation, Nationstar LED display screen co. LTD. (Foshan NationStar Optoelectronics Co. Ltd), Shenzhen MTC Co., and Xiamen Changelight Co., Ltd.
The key ten players in the market hold approximately 43% of the market share. These market players are involved in product launches, agreements, mergers, acquisitions, joint ventures. For instance, in September 2021, AUO launched AmLED (Adaptive mini LED) display technology for MSI Creator Z16 Hiroshi Fujiwara Limited Edition, a collaboration between MSI and Hiroshi Fujiwara.
The global mini LED display market report provides insights on the below pointers:
- Market Penetration: Provides comprehensive information on the market offered by the prominent players
- Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
- Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
- Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global mini LED display market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
- Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
- Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of mini LED displays
- Manufacturing Cost Analysis: Cost-share of various components in mini LED displays, cost analysis of mini LED displays, Unit Cost Analysis of mini LED displays, Component Cost Analysis – mini LED displays
The global Mini LED display market report answers questions such as:
- What is the market size and forecast of the global mini LED display Market?
- What are the inhibiting factors and impact of COVID-19 on the global mini LED display market during the assessment period?
- Which are the products/segments/applications/areas to invest in over the assessment period in the global mini LED display market?
- What is the competitive strategic window for opportunities in the global mini LED display market?
- What are the technology trends and regulatory frameworks in the global mini LED display market?
- What is the market share of the leading players in the global mini LED display market?
- What modes and strategic moves are considered favorable for entering the global mini LED display market?
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