The global mini LED display market size was valued at USD 4 million in 2021. It is expected to be valued at USD 1,244 million by 2030, growing at a CAGR of 88% during the forecast period (2022–2030). The light from mini light-emitting diode (LED) displays comes from tiny LEDs. The roots of the new mini LED technology can be found in the old backlit LCD technology. This technology uses thousands of tiny LED backlights instead of a single large or several smaller backlights that are dimmed locally. This makes the local dimming much better. There is no limit to the size or number of backlights in a mini LED panel, so it can be as small or as big as you want. But they are still limited by the size of the LCD matrix, which turns the white backlight into different colors.
One of the most important things driving the growth of the mini LED display market is the growing need for mini LED backlights in the electronics industry. The mini LED backlight for displays is getting a lot of attention in the consumer electronics market because big names like LG, Samsung, AUO, and others are planning to release products with this technology. AUO has released a line of displays with mini LED backlight technology. These displays include large monitors, desktop monitors, laptops, and even high-end applications like VR headsets and smart cars.
Get more information on this report Download Sample Report
Mini LED backlight for displays is getting a lot of attention in the electronics market, and big names in consumer electronics like LG, Samsung, AUO, and others are planning to release products with mini LED technology. AUO has released a line of displays with mini LED backlight technology. These include large monitors, desktop monitors, laptops, and high-end applications like VR headsets and smart vehicles. These projects help take advantage of new growth opportunities for mini LED display technology. Also, many players in the LED supply chain are now actively looking for ways to use mini and micro-LED technologies.
The mini LED display market is expected to grow because more people are using smartphones, and its many features are becoming part of their daily lives. For example, Xiaomi and other top phone makers plan to put mini LED technology in their next phones. The most important benefits of mini LED displays are that they use less energy, have more color-reduction power, are brighter, have a higher contrast ratio, use less power, are less likely to burn in than OLED displays, and have the same thickness as OLED displays. The mini LED display market is growing with such developments in the mobile display market.
In the next few years, mini LED displays are expected to become more widespread in automotive applications. Mini LED technology has been used as the backlight for automotive displays like HUDs, dashboards, in-car infotainment systems, and rear-view mirror displays. Some LED makers also showed ideas for how mini LED technology could be used to light the outside of cars. Several top automotive manufacturers also use HDR and local dimming technologies in their vehicle displays to make them brighter and have better contrast ratios.
The cost of mini LED parts like LED chips, PCB backplanes, and driver ICs is a big part of how much it costs to make the whole device. The price of mini LED displays goes up because of the costs of these parts and the technologies needed to make them, such as testing, sorting, and SMT. Also, the cost of making mini LED backlight displays is currently higher than that of traditional LCD and OLED displays. This is likely to slow the growth of the mini LED display market.
Some of the biggest companies have put money into display technologies to make room for new ones like mini LED display technology. For example, Dicolor invested an extra USD 146.28 million to build a mini LED display production center in Chuzhou. Focus Lightings planned to invest USD 511.99 million to increase the number of mini LED chips it could make.
Epistar, a company that makes LED chips in Taiwan, has also raised its capital spending to more than USD 200.6 million. About 90% of the money spent on capital is used to increase the number of mini LEDs that can be made. Most of the money is spent on buying new facilities. During the forecast period, the mini LED display market is expected to have a lot of growth opportunities due to high investments from the top players and rising demand for mini LED technologies.
The global mini LED display market share is segmented into application and end-user.
Application-wise, the global mini LED display market analysis is categorized into Automotive Displays, Television, and Smartphones.
Television holds the highest market share and is expected to grow at a CAGR of 86% during the forecast period. Mini LED TVs have surpassed OLED TVs and are expected to continue shaping the television industry in the coming years. Mini LED gives users a richer color layer, more depth to details, and a viewing experience that cannot be beaten in terms of striking and even brightness. In addition, a mini LED TV is an LCD panel with a quantum dot film and micrometer-sized LEDs that light up the back.
Automotive Displays are essential components of in-vehicle interaction visualization technologies. Interactive displays have become an important part of manufacturing processes, and many automakers use them. Mini LED displays are increasingly used in the automotive industry and are one of the most crucial display technologies in this field.
In Smartphones, OLEDs are a strong competitor to mini LEDs because their price-to-performance ratio has already given them a strong position in the high-end and flagship segments. However, mini LEDs will likely have a strong foothold in many small to mid-size high-value-added display segments. The mini LED display market is expected to grow with people’s increased smartphone use and its features becoming part of their daily lives.
End-user-wise, the global mini LED display market forecast is classified into Consumer Electronics and Automotive.
Consumer Electronics accounts for the maximum share and is expected to grow at a CAGR of 90% during the forecast period. Consumer electronics are growing quickly in developing countries, and the display industry is starting to use more advanced technologies. In the next few years, major consumer electronics companies will release display devices with mini LED backlights. LED companies are expected to become part of the supply chains of electronic brands as providers of mini LED solutions.
The Automotive industry comprises many companies that work on designing, developing, marketing, and selling cars. The growth of the mini LED display market is driven by the auto industry's use of new technologies. Mini LED has been used as a backlight for car displays, like HUDs, dashboards, in-vehicle infotainment systems, and displays in the rear-view mirror. Several car manufacturing companies are always looking for new ways to improve their products. Consequently, car manufacturers have started investing in mini LED technology and testing the next generation of high-tech products, which is why the said segment is growing rapidly.
The global mini LED display market share is segmented into North America, Europe, Asia-Pacific, and LAMEA.
Regional Growth Insights Request Sample Pages
Asia-Pacific is expected to be the largest region in terms of revenue generation and manufacturing capability, growing at a CAGR of 91% during the forecast period. This is because it has a large population, many leading manufacturers, and a high demand for display technologies. As LED TVs become more popular, new market opportunities are opening up. Additionally, the strong semiconductor industry in Asia-Pacific will give the market more chances to grow.
The European region is anticipated to earn a whopping revenue of USD 1,742 million by 2030, growing at a CAGR of 86%. Due to the rising popularity of smart TVs in Europe, the mini LED display market is expected to grow swiftly. The European market has immense possibilities for growth because more people are using new technologies. The display industry is getting huge investments. Germany has the biggest market share of all the European countries. This is because the government has taken action in the form of subsidiaries, acquisitions of smaller companies, and a rise in the use of mini LED.
North America gets a big chunk of the market's income through major economies like the US and Canada. The mini LED display market is also expected to grow because more TVs and video games are using mini LED displays. North America is a leader in the mini LED display market because consumer electronics companies buy many new, innovative products. The mini LED display market is also expected to grow because there are wealthy customers, corporate offices, retail chains, and strict rules about energy efficiency in the North American region.
Mini LED displays are expected to be more widely used in LAMEA due to the rising demand for cutting-edge technology. LAMEA is made up of developing nations, which have lots of room to acquire cutting-edge technologies. Numerous industries have lately been established in the area. Nonetheless, a hurdle for the market is the shortage of competent workers.
The key players in the global mini LED display market trends are AU Optronics Corp, Boe Technology Group Co. Ltd., Epistar Corporation, Everlight Electronics Co. Ltd., Harvatek Corporation, Innolux Corporation, Japan Display, Lextar, etc.