Mini LED Display Market worth USD 1,904.1 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Mini LED Display Market by Application (Television, Smartphones, Automotive Display, Notebook/Laptop, and Others), by End-Use (Consumer Electronics, Automotive, and Others), by Region – Global Share and Forecast to 2027". The global mini LED display market size is expected to grow USD 1,904.1 million by 2027 from USD 20.4 million in 2020, at a CAGR of 91.1% during the forecast period. The rise in smartphone usage and increase in penetration of its numerous features in day-to-day lifestyle is anticipated to provide a lucrative opportunity for the mini LED display market growth. For instance, Xiaomi and other leading manufacturers plan to launch mobile phones equipped with mini LED technology. The most significant advantages of mini LED displays to include more energy-efficient, color reduction power, higher brightness, higher contrast ratio, power-efficient, less prone to burn-in than OLED, and its thickness is comparable to OLED displays. The superior feature and initiative from the leading player drive the growth of the mini LED display market.

Global Mini LED Display Market Segmentation

The overall mini LED display market has been segmented into application, end-use, and region.

• By Application (Television, Smartphones, Automotive Display, Notebook/Laptop, and Others)
• By End-Use (Consumer Electronics, Automotive, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

By End-Use, consumer electronics is estimated to hold the largest market share during the forecast period

Based on end-use, the mini LED display market is categorized into consumer electronics, automotive, and others. The consumer electronics method segment generated the highest revenue of 61.5% of the total global mini LED display market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. Leading consumer electronics brands have planned to launch display devices with mini LED backlights in the coming years. The widespread use of this display technology raises the possibility of a large demand surge like the one produced by the switch from CFL to LED for display backlighting. In the supply chains of electronic brands, LED firms are anticipated to position themselves as providers of tiny LED solutions. Taiwan-based leading manufacturers of mini LEDs, such as Epistar, Lextar, and Everlight, are formulating strategies to expand their presence in the mini LED segment.

High growth in the consumer electronics sector in emerging countries and a rise in the adoption of advanced technologies in the display industry are anticipated to create lucrative opportunities for the mini LED display market during the forecast period. For instance, TCL Electronics is one of the dominant players in the global TV industry and a leading consumer electronics company, which is expected to start producing next-generation mini LED technology for the television industry.

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The Asia Pacific accounts for the largest market share in the mini LED display market 2020

Based on the regions, the global mini LED display market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, Asia Pacific was accounted for the largest market share of 38.1% in the global mini LED display market. Asia-Pacific is analyzed across China, Japan, South Korea, Taiwan, and the rest of Asia-Pacific. Asia-Pacific generates the highest CAGR, owing to a large population base, leading manufacturing players, and high demand for display technologies.

Due to the rising popularity of LED TVs and the advent of new market prospects, Asia-Pacific is likely to rise rapidly in the future years. Furthermore, the robust semiconductor sector in Asia is likely to provide market development possibilities. During the forecast period, the micro-LED display market is likely to benefit from a spike in demand for innovative technologies in China, Japan, Taiwan, and other Asian nations. In addition, Asia-Pacific is one the main regions for adopting mini LED display technology due to various properties exhibited by mini LEDs, such as better contrast ratios and less power consumption.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the mini LED display market. The key players operating in the market include EPISTAR Corporation, AU Optronics Corp, Innolux Corporation, Japan Display, Inc., Everlight Electronics Co. Ltd., BOE Technology Group Co, Lextar Electronics Corporation, Harvatek Corporation, San’an Optoelectronics, and VerLASE Technologies LLC.

Browse complete report: https://www.marketstatsville.com/mini-led-display-market

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