New York, United States, July 25, 2022 (GLOBE NEWSWIRE) -- Mini LED (light-emitting diode) displays are small light-emitting devices that get their light from tiny diodes. The old backlit LCD technology is where the new mini LED technology comes from. This technology uses thousands of tiny LED backlights instead of a single large backlight or several smaller backlights that are dimmed locally. There is no limit to how big a mini LED panel can be or how many backlights it can have, so it can be as small or as big as you want. But the size of the LCD matrix, which turns the white backlight into different colors, is still a limit.
The growing demand for mini LED backlights in the electronics industry is one of the most important things driving the growth of the mini LED display market. The mini LED backlight for displays is getting a lot of attention in the consumer electronics market because big companies like LG, Samsung, AUO, and others are planning to make products with this technology. AUO has created a line of displays that use mini LED backlighting. The mini LED display market is expected to grow because more people use smartphones and their features daily.
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Growing Demand for Mini LED Backlights in the Electronics Industry and the Widescale Adoption of Smartphones Propel the Market Forward
The mini LED backlight for displays is gaining much traction in the electronics market. Big names in consumer electronics like LG, Samsung, AUO, and others are planning to release products using the technology. AUO has introduced a line of displays that feature mini LED backlighting. Large monitors, desktop monitors, laptops, and high-end applications such as virtual reality headsets and smart vehicles are among them. These projects help mini LED display technology take advantage of new growth opportunities. In addition, many LED supply chain players actively seek ways to use mini and micro-LED technologies.
The mini LED display market is expected to grow because more people are getting smartphones and using all their features. Xiaomi and other top phone makers plan to put mini LED technology in their next phones. The most important things about mini LED displays are that they use less energy, have more power to reduce colors, are brighter, have a higher contrast ratio, use less power, are less likely to burn in than OLED displays, and are the same thickness as OLED displays.
Increased Investments in Mini LED Display Technologies in Asia-Pacific Create New Market Opportunities
Some of the biggest companies have put money into display technologies to make room for new ones like mini LED display technology. For example, Dicolor invested an extra USD 146.28 million to build a mini LED display production center in Chuzhou. Focus Lightings planned to invest USD 511.99 million to increase the number of mini LED chips it could make.
Epistar, a company that makes LED chips in Taiwan, has also raised its capital spending to more than USD 200.6 million. About 90% of the money spent on capital is used to increase the number of mini LEDs that can be made. Most of the money is spent on buying new facilities. During the forecast period, the mini LED display market is expected to have a lot of growth opportunities due to high investments from the top players and rising demand for mini LED technologies
Report Scope
| Report Metric | Details |
| Market Size | USD 1.24 Billion by 2030 |
| CAGR | 88% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, End-Use and Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | AU Optronics Corp, Boe Technology Group Co. Ltd., Epistar Corporation, Everlight Electronics Co. Ltd., Harvatek Corporation, Innolux Corporation, Japan Display, Lextar, etc. |
| Key Market Opportunities | Increased Investments in Mini LED Display Technologies in Asia-Pacific |
| Key Market Drivers | Increased Demand for Mini LED Backlights in the Electronics Industry |
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Regional Analysis
Asia-Pacific is the largest region in terms of revenue generation and manufacturing capability, growing at a CAGR of 91% during the forecast period. This is because it has a large population, many leading manufacturers, and a high demand for display technologies. As LED TVs become more popular, new market opportunities are opening up. Additionally, the strong semiconductor industry in Asia-Pacific will give the market more chances to grow.
Europe is expected to be valued at USD 1,742 million by 2030, growing at a CAGR of 86%. Due to the rising popularity of smart TVs in Europe, the mini LED display market is expected to grow swiftly. The European market has immense possibilities for growth because more people are using new technologies. The display industry is getting huge investments. Germany has the biggest market share of all the European countries. This is because the government has taken action in the form of subsidiaries, acquisitions of smaller companies, and a rise in the use of mini LED.
North America gets a big chunk of the market's income through major economies like the US and Canada. The mini LED display market is also expected to grow because more TVs and video games are using mini LED displays. North America is a leader in the mini LED display market because consumer electronics companies buy many new, innovative products. The mini LED display market is also expected to grow because there are wealthy customers, corporate offices, retail chains, and strict rules about energy efficiency in the North American region.
Key Highlights
- The global mini LED display market was valued at USD 4 million in 2021. It is expected to be valued at USD 1,244 million by 2030, growing at a CAGR of 88% during the forecast period (2022–2030).
- Application-wise, the global mini LED display market is categorized into Automotive Displays, Television, and Smartphones. Television holds the highest market share and is expected to grow at a CAGR of 86% during the forecast period.
- End-user-wise, the global mini LED display market is classified into Consumer Electronics and Automotive. Consumer Electronics accounts for the maximum share and is expected to grow at a CAGR of 90% during the forecast period.
- Region-wise, the global mini LED display market is segmented into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the highest revenue generator in the global mini LED display market, growing at a CAGR of 91% during the forecast period.
The key players in the global mini LED display market are
- AU Optronics Corp
- Boe Technology Group Co. Ltd.
- Epistar Corporation
- Everlight Electronics Co. Ltd.
- Harvatek Corporation
- Innolux Corporation
- Japan Display
- Lextar
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Global Mini LED Display Market: Segmentation
By Application
- Automotive Display
- Television
- Smartphones
By End-User
- Consumer Electronics
- Automotive
By Regions
- North America
- Europe
- Asia-Pacific
- LAME
TABLE OF CONTENT
- Introduction
- Market Definition
- Market Scope
- Research Methodology
- Primary Research
- Research Methodology
- Assumptions & Exclusions
- Secondary Data Sources
- Market Overview
- Report Segmentation & Scope
- Value Chain Analysis: Mini LED Display Market
- Key Market Trends
- Drivers
- Restraints
- Opportunities
- Porter’s Five Forces Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitution
- Threat of New Entrants
- Competitive Rivalry
- Market Share Analysis
- Applications Overview
- Introduction
- Market Size & Forecast
- Automotive Display
- Market Size & Forecast
- Television
- Market Size & Forecast
- Introduction
- End-User Overview
- Introduction
- Market Size & Forecast
- Consumer Electronics
- Market Size & Forecast
- Automotive
- Market Size & Forecast
- Introduction
- Regional Overview
- Introduction
- Market Size & Forecast
- America
- North America
- U.S.
- By Applications
- By End-User
- Canada
- By Applications
- By End-User
- Mexico
- By Applications
- By End-User
- Latin America
- By Applications
- By End-User
- Europe
- Market Size & Forecast
- Germany
- By Applications
- By End-User
- France
- By Applications
- By End-User
- U.K.
- By Applications
- By End-User
- Italy
- By Applications
- By End-User
- Spain
- By Applications
- By End-User
- Rest of Europe
- By Applications
- By End-User
- Asia Pacific
- Market Size & Forecast
- Japan
- By Applications
- By End-User
- China
- By Applications
- By End-User
- Australia
- By Applications
- By End-User
- India
- By Applications
- By End-User
- South Korea
- By Applications
- By End-User
- Rest of Asia-Pacific
- By Applications
- By End-User
- Middle East & Africa
- Market Size & Forecast
- Saudi Arabia
- By Applications
- By End-User
- South Africa
- By Applications
- By End-User
- Kuwait
- By Applications
- By End-User
- Rest of Middle East & Africa
- By Applications
- By End-User
- Introduction
- Company Profile
- AU Optronics Corp
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Boe Technology Group Co Ltd
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- Epistar Corporation
- Company Overview
- Financial Performance
- Recent Developments
- Product Portfolio
- AU Optronics Corp
- Conclusion & Recommendation
- Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/mini-led-display-market/toc
Market News
- In May 2022, AU Optronics Corp, NVIDIA, and ASUS ROG jointly announced the world's highest refresh rate of 500Hz Esports Monitor with their collaboration.
- In April 2022, Boe Technology Group Co. Ltd won the prestigious Red Dot award for its 110-inch 8K display, which opened up new vistas for smart devices.
- In May 2022, Innolux Corporation introduced Metaverse Black Technology at the SID 2022 to offer an experience in mixed reality.
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Automotive Head-Up Display Market: Information by Type (Windshield, Augmented Reality HUD), Vehicle Type (Passenger Vehicles, Commercial Vehicles), End-User, and Region — Forecast Till 2029
Virtual Reality Market: Information by Device Type (Head-Mounted Display), Application (Consumer), Technology (Non-Immersive, Semi and Fully Immersive) and Region — Forecast till 2029
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