Global Mini LED Market, Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Forecast to 2029
“Global Mini LED Market” is the title of a report under study and analysis at MarketResearch.biz. Various aspects and scenarios are considered, along with current and future scenarios, and the details are verified and validated based on insights and inputs from experts in the industry. The report comprises accurate findings owing to exhaustive primary and secondary efforts, as well as paid sources. The report provides insights into major trends, Y-O-Y growth, growth factors, restraints, and future forecast & opportunities. The report also highlights the various opportunities for potential revenue growth in untapped markets. Key player profiles include recent developments, acquisitions, company details, effective strategies, and mergers, etc. The global mini LED market is segmented on the basis of type, sector, and region.
A transitional technology between Micro LED and traditional LED, it is used to produce the mini light-emitting diode (LED), which is a better-quality version of the conventional LED backlight. Also known as sub-millimeter light-emitting diode, the mini LED has a size of around 100 micrometers. Mini LED and Micro LED is used in different applications due to the obvious difference in the size of the chip. Although Micro LED has a promising outlook, it still has to overcome many technical bottlenecks as it has not made any breakthroughs in terms of some key equipment and technologies. This is the major factor why LED companies started to manufacture Mini LEDs, which is also known as a mature and the best transitional technology currently. These are among some of the factors that are driving growth of the global mini LED market currently. Mini LEDs find applications in devices such as mobile phones, laptops/notebooks, and televisions. These devices are trending and widely used in countries across the globe, which is also supporting growth of the global mini LED.
Among some of the primary factors driving growth of the mini LED market include an increasing sales of mobile and smartphones, laptops, PC, tablet devices etc., by consumers, by companies owing to Bring-Your-Own-Device (BYOD) trend, in industries for internal communications owing to better connectivity and efficiency, and organizations etc. is expected to continue to drive market growth. Owing to commercialization of these applications, revenue from the global mini LED market is expected to further increase during the forecast period. In addition, other next-generation display technologies such as micro light-emitting diode technology is presently facing technical barriers. This also makes it possible to predict the growth of the global mini LED market over the forecast period. The same barriers have also prevented the commercialization of micro-LED due to the technology not achieving the desired breakthroughs. These are among other major factors prompting consumer electronics producers to concentrate more on manufacturing mini LEDs over the traditional or micro LEDs. Mini LED technology finds applications in consumer electronics applications, comprising gaming notebooks, monitors, and televisions with high resolution, contrast, and saturation. Virtual reality with high contrast ratio and brightness is another application in which mini LED technology is used. Owing to all these applications, which are trending currently, growth of the global mini LED market is expected to increase over the forecast period.
Global Mini LED Market Segment Analysis:
Technology type: Among the technology type segments, the mini display segment accounts for the highest revenue share currently, and is projected to continue its dominance over the next five years. This is attributed to wide use of mini displays in mobile phones and laptops.
Sector Type: Among the sector segments, the consumer electronics accounts for highest revenue share currently, which is expected to continue during the forecast period. This is attributed to the global commercialization of the consumer electronics sector.
Global Mini LED Market Regional Analysis:
The market for mini LEDs in North America accounted for significant revenue share in 2018, and this is attributed to an increasing number of younger individuals, institutions, industries, and organizations buying consumer electronics items such as mobile phones, laptops, and monitors, especially in developed countries. Revenue growth from the market in Asia Pacific is primarily supported by high revenue from sales of mini LED products in countries such as China and India, and is expected to register a significantly fast CAGR over the forecast period. The market in Europe is also expected to register a significant growth rate over the forecast period.
Global Mini LED Market Segmentation:
By Technology Type:
- Mini Display
- Mini Lighting
- Consumer Electronics
- Aerospace and Defense
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Oculus VR
- Glo AB
- Verlase Technologies
- JBD Inc.
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