DUBLIN–(BUSINESS WIRE)–The “Global Mini LED Display Market, By Form, By Application, By Panel Size, Estimation & Forecast, 2017 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The global mini LED display market held a market value of USD 174.5 million in 2020 and is estimated to reach USD 9,343 million by the year 2027. The market is anticipated to register a CAGR of 78.3% during the forecast period.
The tremendous growth in the consumer electronics industry all across the world is driving the growth of the mini LED display market. This demand has led to heavy commercialization of mini LED technology, along with additional dynamic characteristics. The high availability of smartphones and gaming stations with mini LED technology positively impacts the mini LED display ecosystem.
Moreover, international alliances support the market growth significantly. For instance, in 2019, Unity Opto Group Co received long-term orders from US-based LED lamp vendors who are changing suppliers to prevent a hike in US customs duty rate on imports from China. Thus, such steps aid the mini LED market growth.
The high cost of the equipment, coupled with the high number of ICs required to function can hinder the market growth. Although there is a large amount of research in this field, many manufacturers might face a setback to adopt to different manufacturing process to mass produce mini LEDs. Thus, such a factor might hamper the market growth to a certain extent.
Companies Mentioned
- Apple Inc
- BOE Technology Group Co
- Japan Display Inc.
- San’an Optoelectronics
- SONY INDIA.
- Tianma Microelectronics Co., Ltd.
- Unity Opto
- VerLASE Technologies LLC
- X-CELEPRINT
- China & Taiwan Players
- AOC
- Advanced Optoelectronic Technology Inc (AOT)
- AU Optronics Corp
- EPI LEDS Co., Ltd.
- EPISTAR Corporation
- EVERLIGHT Electronics 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 Changelight Co., Ltd.
Growth Influencers:
Rising demand for miniaturized display in consumer electronics devices
The rise in demand for better display solutions by end users drive the growth of this market. The ever-changing preferences of consumers in electronics area is increasing the growth rate. The prominent players in the market are focused on launching innovative products keeping in mind the needs of the end users. For instance, in October 2021, Apple announced its plans to introduce a 27-inch iMac with mini-LED and ProMotion technology in the first quarter of 2022. The 27-inch display for the iMac will showcase mini-LED backlighting, and many other features. Thus, the increasing demand for such displays drives the growth of the segment.
High dynamic range, power-saving capability & the lower failure rate compared to traditional LEDs
The mini LED industry is witnessing a wide array of advancements, such as display sizes, picture quality, and power consumption characteristics. The launch of such alluring and low-power-consuming products with a high success rates push the demand for these products and increase the preference rate over the conventional LEDs. The rising research and development activities to develop mini LEDs with cutting-edge features bolster the market growth.
For more information about this report visit https://www.researchandmarkets.com/r/lpws3f
