New York, USA, Sept. 14, 2021 (GLOBE NEWSWIRE) -- A recently published report by Research Dive states that the global mini LED market is anticipated to witness a tremendous rise in revenue from $23.7 million to over $3,342.6 million by 2026 at a steady CAGR of 85.6% from 2019-2026.
Market Dynamics
Growth: Mini LEDs that are available in the market are one of the more popular choices as they contain a deeper black content while having a higher contrast ratio. To add further, the LED are made using inorganic gallium nitride (GgN) that prolongs the shelf life of the LED in comparison to other OLED or LED variants. These factors are expected to further ensure the steady growth of the market.
For More Detail Insights, Download Free Sample Copy of the Report at: https://www.researchdive.com/download-sample/178
Restraints:The consumption level of electricity is higher in the case of mini LEDs which is why most of them are used only in equipment that doesn’t consume more energy. Comparatively, OLED or QLEDs are lighter in power consumption which is expected to limit the growth of the mini LED market in the analysis period.
Segmental Analysis
The report has categorized the market into multiple segments based on application and region.
Television Sub-segment Predicted to Dominate the Market
By application, the television sub-segment is predicted to gain the highest revenue of $585.0 million by 2026 and is anticipated to rise further at a CAGR of 86.3% from 2019-1016. The growth of the segment is primarily credited to the enhanced quality that mini LEDs provide along with the appropriate contrast levels. This is set to further ensure the growth of the sub-segment in the estimated time period.
Regional Analysis
The Asia-Pacific region is predicted to garner revenue of $852.4 million by 2026 and is set to rise further at a CAGR of 86.1%. The rise in popularity of televisions in the region has been one of the primary reasons for increase in investments into technological developments. These include the production and advancement of laptops and smartphone. These factors are predicted to lead to the rapid growth of the regional market by 2026.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/178
Mini LED Market Key Players
The report contains a list of notable market players of the global mini LED market who have been ensuring the constant growth of the market. They are as listed below:
- AU Optronics Corp
- Everlight Electronics Co. Ltd
- Harvatek Corporation
- Innolux Corporation
- BOE Technology Co, Ltd
- Japan Display, Inc
- Unity OptoTechnology, Co Ltd
- Tianma Microelectronics Co, Ltd
These players are currently focusing on R&D activities, mergers & acquisitions, partnerships, and collaborations to sustain and attain a leading position in the market. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, February 2020, Innolux, a Taiwan-based pioneer in production of mini-LED panels received an order from Apple, Inc, a global leader in consumer electronics to supply some of their mini-LEDs for the launch of the new iPadPro. The lights provided the event with improved brightness as well as enhanced ratio of contrast that allows for better display of the products.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments
Top Trending Reports-
- Beacon Technology Market - https://www.researchdive.com/170/beacon-technology-market
- Industrial Machine Vision Lens Market - https://www.researchdive.com/168/industrial-machine-vision-lens-market
- Smart Mirror Market - https://www.researchdive.com/44/smart-mirror-market
- Digital Twin Market - https://www.researchdive.com/5951/digital-twin-market
