Press release
Mini LED Market Size and Key Trends in terms of volume and value 2021-2031
Mini-LED is not a novel concept, but, undoubtedly it is an evolutionary one. In the glut of display technologies, it has secured a position well in between the two end of the spectrum-micro LED and standard LED. A vast assortment of display technologies being used in TVs, PC monitors, and smart displays has combined LEDs to expand the color gamut. The aim for device makers is always to make display as real-life and engaging. Incorporation of mini LEDs in the display technologies for devices has given a tough competition to OLEDs.
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The drive for the mini-LED market has been so vast that speculations are rife that prominent technology company Apple is likely to bypass OLEDs and use mini LEDs for high-end iPad and MacBook models by 2021. The key propositions for the relatively new technology among early adopters are wide color options, high contrast and high dynamic range, and local dimming and dimming zones features. Most importantly, a good trade-off between price and performance that is possible with mini LED has imparted a solid impetus to the evolution of the mini LED market.
Global Mini LED Market: Growth Dynamics
Mini LEDs over the past few years have come to occupy a vast potential for smart display for TVs, LCDs, and smartphone. This is a key trend imparting a steady momentum to the market. Numerous device makers are combining mini LEDs with OLEDs for two reasons: cost competitiveness and to reduce reliance on OLED providers. Typically, display based on OLEDs and micro-LEDs have led to products falling at the higher end of the price spectrum, making their commercialization difficult.
On the other hand, mini LEDs haven't see many varied applications, with a major part of the technology seemingly in conceptualization stage. Despite this hindrance, mini LED backlight are seeing substantial demands in automotive displays and selected TV panels. Panel manufactures are placing their bet on dimming zone features to give the mini LED technology its importance. These trends are reinforcing the potential of the mini LED market.
All said and done, going forward, players will put stakes on price reduction to gain a foothold in the mini LED market. Advances in chip production might show them the way. Furthermore, they are adopting novel chip fabrication technologies to reduce the cost of semiconductor panel. Another area where the mini LED is seeing a promising potential is its demand in smartphone display.
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Global Mini LED Market: Notable Developments
LED makers and producers in Taiwan contend that mini LEDs may breathe new life into the global LED industry. They are putting large bets on the growing penetration of the mini LED market. Chip makers in the region have augmented their shipments to meet the rising demand.
Taiwanese pioneer in LED, Epistar Corp, has already started shipment of mini LED last year. Another Taiwanese company Lextar, eyeing an incredible potential in mini LEDs, aims to meet the demand for mini LED technology for gaming products, VR panels, and automotive displays. Several players are also entering into strategic deals with LED providers to tap into the potential of the market.
Some of the key players in the mini LED market are:
LG
Sony
Samsung
Apple
Innolux
Lextar Electronics Corporation
Epistar
Global Mini LED Market: Regional Assessment
Regionally, one of the regions that have shown immense potential in the mini LED market is North America. The vast appetite of the region for novel display technology has fueled its growth. Burgeoning demand for high-end display technologies for consumer devices and automotive will help the regional market cement its potential in the coming years. On the other hand, LED producers Asia Pacific is making sizable investments to meet the surge in demands.
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About TMR Research
TMR Research is a premier provider of customized market research and consulting services to busi-ness entities keen on succeeding in today's supercharged economic climate. Armed with an experi-enced, dedicated, and dynamic team of analysts, we are redefining the way our clients' conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
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