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Mini LED Display Market Worth US$ 9,343.0 Million by 2027 |CAGR: 78.3 – Exclusive Report by Astute Analytica

Astute Analytica
Astute Analytica

Asia Pacific holds the maximum share in the global Mini LED industry in 2021 and is anticipated to hold the highest CAGR during the forecast period. The market is primarily driven by trends in the consumer electronics industry increasing demand for LED-based TVs, laptops, and smartphones

New Delhi, May 30, 2022 (GLOBE NEWSWIRE) -- Global Mini LED Display market was valued at US$ 290.8 Million in 2021 and is forecasted to reach US$ 9,343.0 Million by 2027. The market is expected to register a CAGR of 78.3% during the forecast period 2022-2027.

Mini LED is an advancement in LCD tech and mini-LED technology is most commonly found in televisions. The need for mini-LEDs is also growing in the fields of electronics applications such as gaming computers and monitors, as well as niche items such as high-end televisions that come with high contrast, high resolution, and saturation.

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Factor such as rising demand for miniaturized display in consumer electronics devices and high dynamic range, power-saving capability & the lower failure rate compared to traditional LEDs drives the growth in the global mini-LED display market over the forecast period. The growing need for mini-LED displays in consumer electronics products as compared to regular LEDs is mainly due to its wide dynamic range, power-saving capability, and lower failure rate of tiny LEDs. Moreover, the application of mini-LEDs in smartphones creates a lucrative growth opportunity in the market. However, the high cost of mini-LEDs and high-power consumption in mini-LEDs inhibits the market growth over the forecast period. The increasing investment in the deployment of Mini LED technology is increasing the cost of mini-LEDs.

Market Insights

  • Based on form, the backlight source (for LCDs) segment holds the highest share in 2021 and is anticipated to grow at the highest CAGR during the forecast period. These individual LEDs can be turned on and off in order to make a better contrast ratio, as well as superior image quality that could rival OLED display technology.

  • In terms of application, the consumer electronics segment held the largest share in the market in 2021 and is expected to grow at the highest CAGR during the forecast period. The rising usage of electronic devices like smartphones and tablets is likely to provide a lucrative opportunity for the tiny LED display industry to thrive in the consumer electronics market.

  • On the basis of panel size, the 12" - 32“display segment is estimated to hold the largest market share in 2021 and is anticipated to hold the highest CAGR over the forecast period owing to its high demand in various consumer electronics.

  • By region, Asia Pacific holds the maximum share in the global Mini LED industry in 2021 and is anticipated to hold the highest CAGR during the forecast period. The market is primarily driven by trends in the consumer electronics industry increasing demand for LED-based TVs, laptops, and smartphones.

Mini- LED Display Market Region Wise Insights

  • The U.S. is the highest shareholder country and is projected to grow with the highest CAGR of 76.3% in the North America mini-LED display market. Due to an increase in the number of younger people, industries, and organizations purchasing consumer electronics such as cellphones, laptops, and monitors leads to regional growth.

  • Germany is the highest shareholder region in 2021, whereas Poland is projected to grow with the highest CAGR of 81.5% over the forecast period. On the basis of form, the backlight source (for LCDs) segment holds the highest share in 2021 in Europe mini-LED display market.

  • China is the highest shareholder country in 2021 and is also projected to grow with the highest CAGR of 87.2% during the forecast period. Based on application, the consumer electronics segment held the largest share in the market in 2021 and is expected to grow at the highest CAGR during the forecast period.

  • South Africa is the highest shareholder country in 2021 and is also projected to grow with the highest CAGR of 77.4% over the forecast period. Moreover, based on panel size, the 12" - 32“display segment is estimated to hold the largest share in 2021 in MEA mini-LED display market.

  • Brazil is the highest shareholder country in 2021 and is also projected to grow with the highest CAGR of 77.0% over the forecast period. Furthermore, in terms of product type, the backlight source (for LCDs) segment is anticipated to grow at the highest CAGR during the forecast period in the South America mini LED display market.

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Report Attribute

Details

Market Size Value in 2021

US$ 290.8 Million

Market Outlook for 2027

US$ 9343.0 Million

Expected CAGR Growth

78.3%

Base Year

2021

Forecast Period

2022-2027

Top Market Players                                                                     

Apple Inc., BOC Technology, Japan Display Inc., SONY India, X-CELEPRINT, AOC, Advanced Optoelectronic Technology Inc (AOT), AU Optronics Corp, EPI LEDS Co. Ltd., HGC Technology Co. Ltd, Innolux Corporation, Shenzhen MTC Co., Xiamen Changelight Co., Ltd., EPISTAR Corporation and Everlight Electronics Co. Ltd. among others

Segments Covered

By Form, By Application, By Panel Size, By Region

Geographies Covered

North America, Europe, Asia Pacific, Middle East and Africa, South America

Customization Options

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Competitive Insight

Global Mini LED Display Market is highly competitive in order to increase its presence in the marketplace. Some of the key players operating in the global mini-LED display market include Apple Inc., BOC Technology, Japan Display Inc., SONY India, X-CELEPRINT, AOC, Advanced Optoelectronic Technology Inc (AOT), AU Optronics Corp, EPI LEDS Co. Ltd., HGC Technology Co. Ltd, Innolux Corporation, Shenzhen MTC Co., Xiamen Changelight Co., Ltd., EPISTAR Corporation and Everlight Electronics Co. Ltd. among others.

Segmentation Overview

Global Mini LED Display market is segmented based on form, application, panel size, and region. The industry trends in the mini-LED display market are sub-divided into different categories in order to get a holistic view of the global marketplace.

Following are the different segments of the Global Mini LED Display Market:

By Form segment of the Global Mini LED Display Market is sub-segmented into:

  • Blacklist Source (for LCDs)

  • Self-emission Pixel Emitters

By Application segment of the Global Mini LED Display Market is sub-segmented into:

  • Automotive Display

  • Consumer Electronic

    • Television

    • Smartphones

    • Gaming Display

    • Notebook/Laptops

    • Home Theatre Systems

    • Wearable Devices

    • Others

  • Commercial

    • Indoor/Outdoor Signages

    • Cinema Display

  • Industrial Devices

    • Others

By Panel Size segment of the Global Mini LED Display Market is sub-segmented into:

  • <12"

  • 12"- 32"

  • 32" – 100"

  • >100

By Region segment of the Global Mini LED Display Market is sub-segmented into:

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • The UK

    • Germany

    • France

    • Italy

    • Spain

    • Poland

    • Russia

  • Asia Pacific

    • China

    • Taiwan

    • India

    • Japan

    • Australia & New Zealand

    • ASEAN

    • Rest of Asia Pacific

  • Middle East & Africa (MEA)

    • UAE

    • Saudi Arabia

    • South Africa

    • Rest of MEA

  • South America

    • Argentina

    • Brazil

    • Rest of South America

To gain more insights into the market with a detailed table of content and figures, click here: https://www.astuteanalytica.com/industry-report/mini-led-display-market

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