Mini LED Market 2022 Increasing Demand Of LED Based Products

According to Precision Business Insights (PBI), the latest report, the mini led market is expected to be valued at USD 447.4 million in 2022 and is poised to grow at a significant CAGR of 39.2% over 2022-2028. The primary driver of the expansion of the global Mini LED market rising demand for LED-based TVs, laptops, and smartphones, and the growing adoption of LED screens in the automotive and defense sectors.

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Automotive Segment to Dominate the Mini LED Market:
On the basis of application, the automotive segment is projected to have significant market growth in the coming few years attributing to their feature of providing good clarity which will improve security and safety while driving. A LED taillight developed by Everlight Electronics Co. Ltd. has been under trial in many automotive companies, which provides a clear image and is also observing all the requirements of the rear light.

Asia Pacific Mini LED Market:
The Asia-Pacific LED market accounted for a considerable revenue share in 2021 and is expected to grow with the highest CAGR over the forecasted period owing to the region's strong semiconductor business expansion, mostly in the area of smart displays with longer lifespans and higher efficiency. China and South Korea are the foremost players in the manufacturing and distribution of mini-LEDs, with their economies of scale in terms of production services. This growth is further pushed by improvements in the region's electronics industry. For instance, Samsung, a South Korea-based electronic device manufacturer, launched a new premium 240Hz 4K gaming monitor, the Odyssey Neo G8 offers photorealistic image quality, fast response times, and superior performance.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Mini LED market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In July 2021, Samsung launched 1st Mini LED curved gaming monitor.

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The mini led market is segmented based on led type, application, and geography.
Based on the led type, the market is segmented into the following:
• Standard LEDs
• Low-current LEDs
• Ultra-high Output LEDs

Based on the application, the market is segmented into the following:
• Consumer Electronics
• Mobile Phones
• Laptop
• Television
• Automotive
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the mini led market report are AUO Corporation, BOE Technology Group Co., Ltd., EVERLIGHT ELECTRONICS CO. LTD., Harvatek Corporation, Japan Display, Inc., Innolux Optoelectronics Co., Ltd., Tianma Microelectronics Co., Ltd., Unity Opto, Epistar Corp, Cree, Inc., Revolution Lighting Technologies, Inc., Orion Energy Systems, Inc, Deco Lighting, NationStar, Harvick Corporation, Sanan Optoelectronics Co., Ltd., and Eaton.

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