The global mini LED display market size was USD 20.4 million in 2020 and is estimated to reach USD 1,904.1 million by 2027, at a CAGR of 91.1% from 2021 to 2027. Mini light-emitting diode displays use very small LEDs to produce the display’s light. Traditional backlit LCD technology is referenced in the new micro-LED technology. Instead of a single big or several smaller locally dimmed backlight, this technique employs thousands of tiny LED backlights to provide excellent local dimming characteristics. Because there is no practical restriction on the size and density of the backlights, Mini LEDs may grow from tiny to large panel sizes. They are, however, limited by the size of the LCD matrix that turns the white backlight into colors.
The factor that drives the mini LED display market growth includes increased demand for mini LED backlights in the electronics industry. The mini LED backlight for displays is rapidly gaining attention in the electronics market. Major brands in consumer electronics, such as Samsung, AUO, LG, and others, plan to launch products featuring mini LED technology. AUO has launched a series of displays with mini LED backlight technology, including various gaming devices from large-sized monitors and desktop monitors to laptops and even high-end applications such as smart vehicles.
Additionally, there is a rise in demand for mini LED displays in the automotive industry. The penetration of mini LED screens is expected to increase in the coming years and become popular for automotive applications. Mini LED technology has been adopted as a backlight for automotive displays such as dashboards, in-vehicle infotainment systems, rearview mirror displays, and HUDs. Some LED producers also introduced conceptual applications of external automotive lighting with mini LED technology. However, one of the major restraints is the high cost of mini LED displays.
Get Full PDF Sample Copy of Report:https://www.marketstatsville.com/request-sample/mini-led-display-market
COVID-19 Impact on the Global Mini LED Display Market
Coronavirus is claimed to be originated from a part of China and rapidly got spread across the globe, which ultimately resulted in a global crisis. As per the reports from the WHO, on December 31st, 2019, its office received a diagnostic report of 29 pneumonia cases in China from an unknown virus in the city of Wuhan in Hubei province, Central China. In a week, it was declared that the initial cases were associated with a wet market. The virus infected almost 66% of the staff in the wet market. On January 30th, 2020, the outbreak of this disease on a global scale was acknowledged as a Public Health Emergency of International Concern. On February 6th, 2020, a total of 28,276 confirmed cases with 565 deaths globally were accounted for by WHO, involving at least 25 countries. On February 11th, 2020, WHO announced the new coronavirus as 2019 novel coronavirus (2019-nCoV) and the disease as 2019 coronavirus disease (COVID-19) caused due to coronavirus SARS-Cov-2.
The COVID-19 outbreak has caused a significant and protracted drop in manufacturing facilities. In contrast, travel bans facility closures kept workers out of their factories, which led to a slowdown in the growth of the mini LED display market in 2020. Asia is the largest producer and exporter of various products widely used in electronics, automotive, and other industries. The impact of COVID-19 on this market is temporary as only production and supply chain were stalled in 2020. Currently, the situation has improved; therefore, production, supply chains, and the demand for these products are expected to increase in 2021 gradually.
Make an Enquire before Purchase @ https://www.marketstatsville.com/buy-now/mini-led-display-market?opt=2950
Global Mini LED Display Market Dynamics
Drivers: Increase in demand for mini LED backlights in the electronics industry
Mini LED backlight for displays is rapidly gaining attention in the electronics market. Major brands in consumer electronics, such as Samsung, AUO, LG, and others, plan to launch products featuring mini LED technology. AUO has launched a series of displays with mini LED backlight technology, including various gaming devices from large-sized monitors and desktop monitors to laptops and high-end applications such as VR headsets and smart vehicles. These initiatives help to capture new growth opportunities for mini LED display technology. Moreover, many players in the LED supply chain are now actively exploring applications related to mini and micro-LED technologies.
Restraints: High cost of mini LED display
The cost of mini LED components, such as LED chips, PCB backplanes, and driver ICs takes up a large portion of the devices’ overall manufacturing cost. These components’ costs combined with necessary technologies involved in manufacturing, such as testing, sorting, and SMT, also increase the cost of mini LED displays. In addition, the manufacturing cost of Mini LED backlight displays is currently higher than that of traditional LCD and OLED displays, which is expected to hamper the growth of the mini LED display market.
Opportunities: Increasing investment in mini LED display technologies
Some leading companies have invested in display technologies to expand the capacity for new display technologies such as mini LED display technology. For instance, Dicolor added $146.28 million to build a mini LED display production center in Chuzhou; Focus Lightings planned to expand the capacity for a mini LED chip with an investment of $511.99 million.
In addition, Epistar, a Taiwan-based LED chip maker, has also increased its capital expenditure to over $200.6 million. Around 90% of the capital expenditure is for expanding mini LED capacity, with most of the investment used to buy new facilities. High investment from the leading players and an increase in demand for mini LED technologies are expected to create lucrative growth opportunities for the mini LED display market during the forecast period.
Request for Complete TOC and Figures Graphs @ https://www.marketstatsville.com/table-of-content/mini-led-display-market
Scope of the Report
The study categorizes the mini LED display market based on application and type at the regional and global levels.
By Application Outlook (Revenue, USD Million, 2017-2027)
- Automotive Display
- Television
- Smartphones
- Notebook/Laptop
- Others
By End-Use Outlook (Revenue, USD Million, 2017-2027)
- Consumer Electronics
- Automotive
- Other
By Region Outlook (Revenue, USD Million, 2017-2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia New Zealand, Rest of Asia Pacific)
- The Middle East Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The television segment is projected to account for the largest market share, by application
By application, the mini LED display market is divided into the automotive display, television, smartphones, notebook/laptop, and others. The television segment was the highest contributor to the market, with 27.4% of the market share. A surge in demand for television across the globe and an increase in advancement in this segment is expected to create growth opportunities for the mini LED display market. These TVs can also have up to 3,000 local dimming zones, which increase the overall contrast ratio of the panel while also reducing the halo effect. For instance, TCL Electronics, one of the dominant players in the global TV industry and a leading consumer electronics company, has launched OD ZeroTM Mini LED technology. This technology combines TCL's 3rd generation mini LED backlight technology, driven by its skilled in-house technology development and deployed with its powerful vertical integration to deliver an ultra-slim profile, which has never been achieved with LED LCD TVs. These factors are expected to create lucrative opportunities for the mini LED display market.
Asia Pacific accounts for the highest CAGR during the forecast period
The global mini LED display market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East Africa based on the regions. Globally, Europe is projected to hold the highest CAGR of 100.2% in the global mini LED display market during the forecast period. Major countries included in Europe are Germany, the UK, France, and the rest of Europe. An increase in the adoption of mini LED technology in the consumer electronics segment is expected to boost the mini LED display market growth during the forecast period.
Moreover, this region has technologically advanced countries, out of which most are developed or are in the developing phase. Therefore, technical advancement is one of the major factors expected to boost market growth in Europe. The mini LED display market is expected to witness strong growth in the coming years due to growing smart TV popularity in Europe. The increase in the adoption of advanced technologies has provided several growth opportunities for the mini LED display market in Europe. High investment in the display industry is expected to provide growth opportunities for the market. Among all European countries, Germany accounts for the largest market share, owing to proactive government initiatives in the form of subsidiaries, acquisition of smaller companies, and rise in adoption of mini LED.
Key Market Players
Corporation, AU Optronics Corp, Innolux Corporation, Japan Display, Inc., Everlight Electronics Co. Ltd., EPISTAR BOE Technology Group Co, Harvatek Corporation, San'an Optoelectronics, Lextar Electronics Corporation, Harvatek Corporation, and VerLASE Technologies LLC are among the prominent firms highlighted in the research. Market players have adopted various strategies, such as collaboration partnership, product launch, and agreement, to expand their foothold in the mini LED display market.
Request for Report Description @ https://www.marketstatsville.com/mini-led-display-market
About US:
Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG initiated its work in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.
We the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in market sizing, analysis, and incisive business insights. MSG experienced research analysts are proficient at digging deep and providing various customizable data that help you make decisions with clarity, confidence, and impact.
