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Global Mini LED Display Market is forecast to record a revenue of US$ 9,343 Mn by the end of the year 2027. In terms of revenue, the global market is recording substantial growth at a CAGR of 78.3% during the forecast period of 2021–2027.
The market growth is attributed to several factors such as increasing demand in customer LED base TVs, laptops, and smartphones. As per the research study, in 2019, the demand for Ultra-high-definition (UHD) TV increased by 20% to 111.91 Mn units to account for about 53% of total TV demand. The market for ultra-large TVs (75-inch and larger) grew approximately 88% to create demand for innovative products. In 2019, demand for QLED increased by 105% as companies are involved in improving product quality. As LED displays provide a sharp contrast ratio, higher brightness, power efficiency is facilitating numerous growth opportunities in the global mini-LED display market. Many industries use mini-LEDs as they provide higher contrast and improved black light than OLEDs (Organic LED), now manufacturers have increased control on dimming light on devices using mini-LEDs, these devices are better in displaying HDR content but on the contrary highly-priced when compared to traditional LCDs.
Mini light-emitting diode (LED) display is a flat panel that uses small LEDs to bring out the display's light. Mini LED display instead of using single large or multiple smaller dimmed backlight display, uses several tiny LED backlights to provide vastly superior dimming. These tiny LED backlights provide an improved contrast ratio, allow deeper black, and brighter panels. Mini LED display finds uses across several applications such as automotive displays, consumer electronics, industrial devices, cinema displays, and others. The manufacturing cost of Mini LED displays are more than the traditional display technologies- LCD and OLED display. However, with technological advancements and yield rate, the cost of Mini LED backlight displays is expected to undergo 15-20% Y-o-Y decreases and is anticipated to fall less than the price of OLEDs by the year-end 2022, making it a cost-competitive option in the market.
The study of the global mini-LED display market provides an overview of the market growth over the forecast period. The display industry is recovering from the COVID-19 impact and subsequent shift in the growth trend. The research report presents a detailed analysis of the global mini-LED display market across 14 chapters, totaling 215 Pages, with 36 extensive data tables and 91 figures.
The report provides a detailed and comprehensive analysis related to opportunities in the Global Mini LED Display Market, owing to the rising demand for miniaturized displays in customer electronics devices. The regions tracked and analyzed for the study of the global mini-LED display market are North America, Europe, Asia-Pacific, and the Middle East, and Africa. As per the report, the Asia Pacific mini-LED display market is growing at the highest CAGR of 80.7% during the forecast period, holding the maximum share in the global industry in 2020 and will maintain its dominance in the global marketplace. The growth is primarily driven by trends in the consumer electronics industry increasing demand for LED-based TVs, laptops, and smartphones, owing to the lower failure rate compared to traditional LEDs. Moreover, the higher yield rates compared to OLEDs are escalating the demand.
Asia Pacific region is followed by North America in the growth opportunity with a CAGR of about 75% due to an increase in the number of younger people, institutions, industries, and organizations purchasing consumer electronics such as laptops, cellphones, and monitors, particularly in industrialized countries.
The Global Mini LED Display Market report includes a section that lists recent developments of the industry with 360 views of the market, analyses opportunities in terms of application niches, production and export analysis, supply chain optimization, and market share.
The report shows the trends that are expected to influence the future demand for mini-LED displays. The study further shows the impact of COVID-19 and its long-term effect on the global mini-LED display market. The report includes analysis based on the following segments – By Form, By Application, and By Panel Size. Further, the report offers readers an exclusive insight into the growing trend and popularity of LED displays used in smart TVs, smartphones, laptops, and other smart devices.
The report offers a detailed study of the impact of the COVID-19 outbreak on the global mini-LED display market. The impact of COVID-19 considers various dynamics to calculate near to accurate results which include supply chain disruption, how lockdown created a gap in the LED display market and others. The report also shows how pandemic adversely affected the global mini-LEDs display market from the demand side and from the supply side.
The report provides a competitive study of leading key players of the mini-LED display market with their detailed company overview, strategical outlook, company products and equipment, and their detailed profile. The report also offers market share comparison and analysis between key players to our readers that help in boosting their business growth over the long term. The Global Mini LED Display Market report covers detailed company profiling of 24 companies.
Details covered for these key players include - Business Overview, Company Financials, Key Officials, List of Products, Recent Developments, and Strategy Outlook. The key profiles included in the report are - Apple Inc., BOE Technology, Japan Display Inc., San’an Optoelectronics, SONY India, Tianma Microelectronics Co. Ltd., Unity Opto, VerLASE Technologies LLC, X-CELEPRINT, AOC, Advanced Optoelectronic Technology Inc (AOT), AU Optronics Corp, EPI LEDS Co. Ltd., Harvatek Corporation, Hongli Zhihui Group Co, HC Semitek Corporation, HGC Technology Co. Ltd., Innolux Corporation, Lextar Electronics Corporation, Nationstar LED display screen Co. Ltd. (Foshan NationStar Optoelectronics Co. Ltd.), Shenzhen MTC Co., Xiamen Change light Co., Ltd., EPISTAR Corporation and Everlight Electronics Co. Ltd.
Based on the mini-LED display application, the market is categorized into the following segments: automotive displays, consumer electronics, industrial devices, commercial displays, and others. In 2020, consumer electronics products such as TVs, smartphones, laptops, and tablets contribute with the maximum share in the market by 70%. As the penetration of their numerous functions into daily life, is likely to provide a lucrative opportunity for the tiny LED display industry to thrive in the consumer electronics market.
As per the report, consumer electronics segments hold the highest growth rate of 80.4% because laptop holds the highest CAGR 83.3%, during the forecast period because by using much smaller LEDs as a backlight, the laptop’s display can dim and brighten with much more accuracy as compared to the traditional LED backlight.
By Panel Size
The Global Mini LED Display Market was valued US$ 174.5 Mn in 2020.
Mini LED displays are used in smartphones, smartwatches, TVs, laptops, projectors, and in various smart devices.
The study in report shows a CAGR of 78.30% in the forecast period of 2021-2027.
The report provides detailed segments of LED display market, which includes by form (Two sub-segments), by application (Five sub-segments), and by panel size (Four sub-segments).
In 2020, Asia Pacific is dominating region, holding 60% of the market share across the globe.
The impact of COVID-19 considers various dynamics to calculate near to accurate result which includes supply chain dispute, how lockdown created a gap in LED display market.
Increasing demand in electronic items play a major role in recovery phase of COVID-19 pandemic and the market size is estimated to grow to US$ 9,343 Mn during the forecast period (2021-2027) including a dent of decline during pandemic phase.
Advantages of Mini LEDs: Mini LEDs have power saving capacity and low failure rate compared to LCDs, provide higher brightness. Disadvantages of Mini LEDs: It include high cost of equipment than traditional LCD and large number of IC’s are required to operate.
Japan Display, Inc., EPISTAR Corporation, Innolux Corporation and Everlight Electronics Co. Ltd. are some of the key players holding majority of the market share.
The CR4: Ratio of the mini LED display market is 43.2%.
Cost structure of Mini LED backlight display consists of 66% of Mini LED backlight module, 30% of LCD panel and 4% others.
The key distributors of LED Display are IT companies, government organizations, Direct to builders' facility units and others. Some prominent distribution companies under this market are Nichia Corporation (Japan), Phillips (United States) and Osram (Germany).