(MENAFN- PR Newswire)
NEW DELHI, Nov. 23, 2021 /PRNewswire/ -- In accordance with the study of Global Mini LED Display Market is estimated to grow at a CAGR of 78.30% during the forecast period of 2021 to 2027. With an opportunity of US$ 9,052.3 Mn during 2021-2027, the market is witnessing an astounding growth with a base year revenue of US$ 174.5 Mn in 2020.
Request for a sample report:
Mini LEDs (light-emitting diode) are gaining popularity in display units such as TVs, smartphones, and many other smart devices such as smart watches, laptops, etc. Mounting demand for consumer electronic products with better performance, less power consumption, higher efficiency, and increase in popularity of LED TVs will drive the demand for mini-LEDs in the coming years. The market growth is attributed to several factors such as increasing demand in customer LED base TVs, laptops, and smartphones. Providing sharp contrast ratio, high brightness and power efficiency is facilitating numerous growth opportunities in the global mini-LED display market.
The demand for mini-LED display is expected to boost owing to increasing demand for smartphones, smart watches, projectors, and various other smart devices. As per Samsung Electronics Co., ltd., in the year 2019, demand for QLED increased by 105%, compared to 2018 - as companies are involved in improving product quality; and as per researchers, 145 million smartphones were sold in 2020 which is around 14% more compared to the units sold in the year 2019. Hence, increasing demand of smart devices will eventually boost the size of the mini-LED display market. Furthermore, the rising demand for miniaturized display, high dynamic, power saving capability and lower failure rate compared to traditional LEDs attributes to the overall growth of the mini-LED display industry. However, high cost related with mini-LEDs and substantial number of IC's required to operate mini-LEDs will act as growth hindrance factors in the global marketplace. Manufacturing cost of Mini LED displays are more than traditional display technologies- LCD and OLED display. Mini LED backlight cost was initially 30-50% higher than that of OLED, and is anticipated to be same as OLED, and even 10-20% cheaper in the future times, owing to rapid technological advancements and rising focus on research & development for the product.
Request for Discount Pricing with Your Specific Research Needs At:
Mini LED Market Analysis by LED Form
Mini LED technology is majorly found in televisions. Major television manufacturers, including TCL, Philips, LG, and Samsung, are developing displays using this new backlight technology with various versions available in the market.
As per the research study, backlight source hold approximately two times more market share as compared to self-emissive pixel emitters in the year 2020 and has the maximum compound annual growth rate during the forecast period. LCD that are used in mini-LED technology essentially uses LEDs about the size of 0.9 to 0.1 millimeters for backlighting. These individual LEDs can be turned on and off to enable more targeted dimming and allow the production of deeper blacks and better contrast ratio, as well as superior image quality that could rival OLED display technology. Some companies are merging LEDs and other technologies for cutting-edge television. For instance, LG's Mini LED TV range of 'QNED' screens, which for the first time combine LG's NanoCell LCD and Mini LED backlighting, is now available worldwide.
Mini LED Display Geographic Market Analysis
The global mini-LED display market examined across several regions such as North America, Europe, Asia-Pacific, and Middle East regions. The market across Asia-Pacific held the largest share in 2020. China and Japan play a vital role in the manufacturing and distribution of mini-LEDs, backed by economy of scale strategy with respect to production facilities.
Companies which are active in mini-LED market are continuously viewing China and Japan region as a target market, on the back of increasing popularity of smart TVs and other smart devices in these regions. India is an emerging market with increasing popularity of smart TVs, smartphones, smart watches , etc., expanding its mini-LED market share.
North America and Europe are following APAC region, held 60% of the market share across the globe. As increasing number of younger people, institutions, industries, and organizations purchasing consumer electronics such as cellphones, laptops, and monitors, particularly in industrialized countries.
Have Any Query Or Specific Requirement? Feel Free to Ask Our Industry Experts at:
Impact of COVID-19 on Global Mini-LED Display Market
The spread of virus has impacted the overall market, as major countries imposed the lockdown which affected the supply chain. This lockdown adversely impacted on the demand of Mini-LED display during pandemic. As transportation was ban and only essential items were being delivered, this created a gap in demand and supply of Mini LED display.
Asia (China, Japan, India, South Korea, and Rest of the Asia) is the largest manufacturers and exporters of mini-LED display and other electronic and automotive products, the impact of coronavirus hampered the demand, supply, and the production of mini-LED display in 2020. However, the demand is now improving and estimated that it will grow at a CAGR of 78.30% by 2027.
Major Competitors in Global Mini-LED Display Market
The cumulative market share of the four major players is close to 43% hence the market is observed to be monopolistic competition in nature. However, the global market is projected to shift towards oligopoly nature during the forecast period.
Apple Inc., BOC 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 Changelight Co., Ltd., EPISTAR Corporation and Everlight Electronics Co. Ltd. are some of the key players in the global mini-LED display market.
Companies like EPISTAR Corporation, Japan Display, Inc., Innolux Corporation, and Everlight Electronics Co. Ltd. are some of the major players in the market holding a four-firm concentration ratio (CR4) of 43.2% in the market. Top 10 players in the market hold around 69.1% market share and rest of the market is captured by other local players.
Segmentation Overview of Global Mini-LED Display Market
In accordance with panel size, 12-32 inches panel size dominated the mini-LED display market in 2020. As mini-LED is an enhanced version of LED backlight, it still improves the image quality of LCD panels greatly. Furthermore, the cost of Mini LED displays, which is more likely to be most of the market, is easier to regulate, owed to high demand in various consumer electronics. As per the cost estimate, a 65-inch LCD panel with Mini LED backlight needs 18,000 to 20,000 LEDs, consuming a considerable portion of LED chip manufacturers' production capacity.
The Global Mini LED Display Market is categorized based on Form, Applications, and Panel Size.
By Form
- Blacklist Source (for LCDs)
- Self-emission Pixel Emitters
By Application
- Automotive Display
- Consumer Electronic
- Television
- Smartphones
- Gaming Display
- Notebook/Laptops
- Home Theatre Systems
- Wearable Devices
- Others
- Commercial
- Indoor/Outdoor Signages
- Cinema Display
- Industrial Devices
By Panel Size
- <12'
- 12'- 32'
- 32' – 100'
- >100
By Region
- North America
- 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
- Brazil
- Argentina
- Rest of South America
Find more research reports on Technology by Astute Analytica
About Astute Analytica Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost effective, value added package from us, should you decide to engage with us.
Contact us: Nishi Sharma BSI Business Park, H-15,Sector-63, Noida- 201301- India Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4251598 (Rest of the World) Email: [email protected] Website: Follow US: LinkedIn | Twitter Press Release:
SOURCE Astute Analytica
MENAFN23112021003732001241ID1103234426