Wilmington, Delaware, Nov. 01, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Mini LED Market value is estimated at US$ 211.8 million in 2023 and is expected to rise at a strong CAGR of over 35.8% over the forecast period of 2023-2030.
Key Insights
- The mini LED market is driven by the increasing demand for high-resolution and energy-efficient displays.
- The consumer electronics segment is the largest and fastest-growing segment in the mini LED market.
- The Asia Pacific region is the prominent market for mini LEDs, followed by North America and Europe.
- The key players in the mini LED market include Epistar, Sanan Optoelectronics, Nichia, AU Optronics, and Mini LED International.
Growth Factors
- The increasing demand for high-resolution and energy-efficient displays in consumer electronics, automotive, and signage & digital display applications is driving the growth of the mini LED market.
- Mini LED displays offer a number of advantages over traditional LED displays, such as higher contrast ratios, wider viewing angles, and better energy efficiency.
- The declining cost of mini LED production is also contributing to the growth of the market.
Market Definition, Market Scope, and Report Overview
Mini LED is a display technology that use a large number of small light-emitting diodes (LEDs) as the backlight source for LCD (Liquid Crystal Display) panels. These LEDs are much smaller than regular LEDs used in LCD panels, measuring typically less than 0.2 millimeters. Mini LED technology has various advantages over regular LED backlighting, including increased brightness, greater contrast ratios, improved color accuracy, and the ability to generate localized dimming zones for more precise backlight intensity control.
Companies that invest in Mini LED technology will be able to differentiate their products in the competitive consumer electronics industry. Devices with greater display quality and novel features are more likely to pique the interest of consumers and boost sales.
- According to a deep-dive market assessment by RationalStat, the global Mini LED market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Mini LED market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Mini LED market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Mini LED Market: Segmental and Market Share Analysis
- On the basis of type, in 2022, the standard LED segment had the highest market revenue share of 40.2%. Because of their energy efficiency, compact size, and extended lifespan, standard LEDs are widely employed in a variety of applications.
- On the basis of applications, in 2022, the consumer electronics segment had the biggest revenue share of 45%. Consumer products that incorporate small LED technologies are becoming increasingly popular as technology advances.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 211.8 million |
| Market Size Forecast | US$ 1,804.4 million |
| Growth Rate | 35.8% |
| Dominant Segment | Standard LED |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
The key players and brands in the mini LED market are investing heavily in research and development to reduce the cost of mini LED production and develop new applications for the technology. Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global Mini LED market include,
- In February 2021, Kulicke and Soffa Industries, Inc. announced the acquisition of a 100% equity investment in Uniqarta, Inc ("Uniqarta"), a technology firm based in Cambridge, Massachusetts. Uniqarta's patent portfolio and other intellectual property rights are included in this strategic transaction.
Some of the prominent players and suppliers operating and contributing significantly to the global Mini LED market growth include Shenzhen China Star Optoelectronics Technology Co., Ltd. (CSOT), AsusTek Computer Inc., Sanan Optoelectronics Co., Ltd., Innolux Corporation, Hongli Zhihui Group Co., Nichia Corporation, OSRAM GmbH, Samsung, Lumileds Holding B.V., and LG Innotek, among others.
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RationalStat has segmented the global Mini LED market based on type, application and region
- Global Mini LED Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Standard LED
- Low-Current LED
- Ultra-High Output LED
- Global Mini LED Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Consumer Electronics
- Automotive
- Others
- Global Mini LED Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Mini LEDMarket
- US
- Canada
- Latin America Mini LEDMarket
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Mini LEDMarket
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Mini LEDMarket
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Mini LEDMarket
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Mini LEDMarket
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Mini LEDMarket
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Key Questions Answered in the Mini LED Report:
- What will be the market value of the global Mini LED market by 2030?
- What is the market size of the global Mini LED market?
- What are the market drivers of the global Mini LED market?
- What are the key trends in the global Mini LED market?
- Which is the leading region in the global Mini LED market?
- What are the major companies operating in the global Mini LED market?
- What are the market shares by key segments in the global Mini LED market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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