The panel size segment of more than 100 inch is estimated to grow at a rate of 73.2% due to the increasing use of these panel size in commercial settings, such as cinema displays.ĭownload Sample Report, SPECIAL OFFER (Avail an Up-to 30% discount on this report) – īy region, the global mini LED display market is divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America. The 12 inch to 32 inch segment held the largest share in 2020 owing to the high preference rate of this dimension in home settings, as well as in automobiles. On the basis of commercial segment, the indoor and outdoor signages sub-segment market value is estimated to cross USD 600 million by 2027. On the basis of consumer electronics, the notebook and laptop segment is expect to grow tremendously at a rate more than 83%. The consumer electronics segment held the largest share of nearly 70% owing to the rising usage of smartphones and laptops, especially among the millennial population. The rise in consumer electronics drive the demand for backlight sources for LCDs.
The backlight source segment is anticipated to hold the largest market share owing to the increasing use of these in liquid crystal displays. The global mini LED display market is segmented into form, application, and panel size. The rising research and development activities to develop mini LEDs with cutting-edge features bolster the market growth.
The launch of such alluring and low-power-consuming products with a high success rates push the demand for these products and increase the preference rate over the conventional LEDs. The mini LED industry is witnessing a wide array of advancements, such as display sizes, picture quality, and power consumption characteristics. High dynamic range, power-saving capability & the lower failure rate compared to traditional LEDs Thus, the increasing demand for such displays drives the growth of the segment. The 27-inch display for the iMac will showcase mini-LED backlighting, and many other features. For instance, in October 2021, Apple announced its plans to introduce a 27-inch iMac with mini-LED and ProMotion technology in the first quarter of 2022. The prominent players in the market are focused on launching innovative products keeping in mind the needs of the end users. The ever-changing preferences of consumers in electronics area is increasing the growth rate. The rise in demand for better display solutions by end users drive the growth of this market. Rising demand for miniaturized display in consumer electronics devices Thus, such a factor might hamper the market growth to a certain extent. Although there is a large amount of research in this field, many manufacturers might face a setback to adopt to different manufacturing process to mass produce mini LEDs. The high cost of the equipment, coupled with the high number of ICs required to function can hinder the market growth. Thus, such steps aid the mini LED market growth. For instance, in 2019, Unity Opto Group Co received long-term orders from US-based LED lamp vendors who are changing suppliers to prevent a hike in US customs duty rate on imports from China. Moreover, international alliances support the market growth significantly.
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Request To Download Sample of This Strategic Report: – The high availability of smartphones and gaming stations with mini LED technology positively impacts the mini LED display ecosystem.
This demand has led to heavy commercialization of mini LED technology, along with additional dynamic characteristics. The tremendous growth in the consumer electronics industry all across the world is driving the growth of the mini LED display market. The market is anticipated to register a CAGR of 78.3% during the forecast period. The global mini LED display market held a market value of USD 174.5 million in 2020 and is estimated to reach USD 9,343 million by the year 2027.
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