Dublin, Sept. 25, 2023 (GLOBE NEWSWIRE) -- The "Global Mini LED Market Size, Share, Growth Analysis, By Type, By End-Use Industry - Industry Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global mini-LED market, focused on the development and production of miniaturized light-emitting diode (LED) display technology, is on a trajectory of remarkable growth. According to a recent study, the market was valued at USD 411.2 million in 2021 and is expected to surge to USD 16,297.85 million by 2030, with a CAGR of 44.48% during the forecast period of 2023-2030.
Revolutionizing Display Technology
Mini LED technology, characterized by the use of smaller LED chips, is revolutionizing the display technology industry. It delivers high-resolution displays with enhanced brightness, contrast, and energy efficiency. This technology finds applications across a spectrum of sectors, including consumer electronics, automotive, signage, and commercial and professional displays.
Market Segmentation
The global mini-LED market is segmented based on product type, end-use industry, and region:
- Product Type: Standard LEDs, Low-current LEDs, Ultra-high Output LEDs.
- End-Use Industry: Consumer and automotive electronics.
- Region: North America, Europe, Asia-Pacific, South America, and MEA.
Driving Forces
The demand for high-quality displays with superior visual performance has fueled the rapid development of mini LED technology. Mini LEDs offer exceptional image quality, high contrast ratios, expanded color gamut, and localized dimming capabilities, making them a compelling choice for high-resolution displays.
The increasing consumer demand for top-tier electronic devices like smartphones, tablets, laptops, and televisions is driving the adoption of mini LED displays. Manufacturers leverage mini LED technology to deliver superior display experiences marked by enhanced brightness, color accuracy, and power efficiency.
Challenges
While mini LED technology offers numerous advantages, its manufacturing process is intricate and involves the precise placement of numerous tiny LED chips. This complexity can drive up production costs, posing a challenge to widespread adoption, especially in cost-sensitive markets.
Market Trends
A noteworthy trend in the market is the integration of mini LED and micro-LED technologies. Micro-LEDs, even smaller in size, offer further improvements in image quality and power efficiency. Mini LED displays are also gaining traction in automotive applications, including instrument clusters, head-up displays (HUDs), and infotainment systems. Their superior brightness, color accuracy, and durability make them a fitting choice for automotive environments.
Key Players
Major players in the global mini-LED market include Samsung Electronics Co. Ltd., LG Electronics Inc., Sony Corporation, Innolux Corporation, Osram Licht AG, Lextar Electronics Corporation, AU Optronics Corp., Epistar Corporation, Everlight Electronics Co., Ltd., Nationstar Optoelectronics Co., Ltd., Unilumin Group Co., Ltd., Harvatek Corporation, ROHM Semiconductor, Beijing Jiuzhou Qinghua Technology Co. Ltd., Radiant Opto-Electronics Corporation, Lite-On Technology Corporation, Nichia Corporation, Lumileds Holding B.V., Cree, Inc., and Plessey Semiconductors Ltd.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 157 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $594.1 Million |
| Forecasted Market Value (USD) by 2030 | $16297.85 Million |
| Compound Annual Growth Rate | 44.4% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/zblbga
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