The global mini LED market size is anticipated to value USD 5.9 billion until 2025. It is also expected to register a CAGR of 86.6% over the forecasted years, 2019 to 2025. The adoption of the mini LEDs in several industries is gaining traction due to their features like enhanced brightness and gamut levels, enhanced contrast ratio, and lower time required for their response as compared to OLEDs and other LCD lights.
The consumer electronics application segment held the largest share owing to the adoption of these LEDs in the production of electronic devices like laptops, television, tablets and smartphones. On the other hand, the automotive application segment is expected to witness the fastest growth in the upcoming years due to features of providing enhanced glare and light in the automobile lights that ensure the safety of passengers and drivers.
North America dominated the global market in 2018 on account of the rising presence of automotive players and consumer electronics manufacturers across this region coupled with their willingness to invest in R&D activities or the development of innovative products. The Asia Pacific is expected to register the highest growth in the upcoming years due to the rising presence of key players across China, Taiwan, Japan and India.
The mini LED market includes key players such as Everlight Electronics Co. Ltd., AU Optronics Corp., Harvatek Corporation., EPISTAR Corporation, and Innolux Corporation. They are constantly engaged in product development and innovation to cater to the shifting consumer preference for usage of high-end electronic devices. They are also participating in several trade exhibitions and fairs to showcase their innovative products.
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Further key findings from the report suggest:
• The consumer electronics application segment held the largest share across the global market in 2018.
• The application segment of automotive display is projected to register highest CAGR in the upcoming years.
• North America dominated the global market in 2018 due to rapid advances being carried out in this technology across this region.
• The key players in this market are Everlight Electronics Co. Ltd., AU Optronics Corp., Harvatek Corporation., EPISTAR Corporation and Innolux Corporation.
Million Insights has segmented the global mini LED market on the basis of application and region:
Mini LED Application Outlook (Revenue, USD Million, 2018 - 2025)
• Consumer Electronics
• Mobile Phones
Mini LED Regional Outlook (Revenue, USD Million, 2018 - 2025)
• North America
• Asia Pacific
• Latin America