Mini LED Market Report
Mini LED Market, By Application (Consumer Electronics, Mobile Phone, Laptop/Notebook, Television, Automotive, Others),Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026
Global Mini Led Industry Insights, 2026:
The global mini LED market forecast value is expected to reach $3,342.6 million by 2026, rising from $23.7 million in 2018, at a CAGR of 85.6%. The North America regional market held the largest market value of over $6.6 million in 2018. The Asia-Pacific market is expected to account for more than $852.4 million by 2026.
Miniature light-emitting diodes are deliberated to be the leading-edge display technology supporting improved brightness, reduced energy consumption, high contrast ratio, quick response time, and wider color gamut. The brightness and contrast features of these diodes are considered to be superior to organic light-emitting diodes (OLEDs). Hence, they are predicted to progressively wear down the latter’s market share in the upcoming years.
Moreover, manufacturers simply need to remodel the driver ICs and invest in manufacturing machinery in the prevailing traditional LCD manufacturing setup, in order to guarantee smooth and efficient production. Therefore, for these traditional LCD producers, mini LED technology offers an opportunity to upgrade product specifications and compete with prevailing OLED technology.
Driving Factors: Longer life span of mini-LED compared to that of OLED is considered to drive the mini LED market growth
Mini LED is much better than various other LEDs that are currently present in the market; for example, some of the key factors that make the mini LED unique are the higher contrast ratio and deeper black contents, but above all these, the usage of inorganic gallium nitride (GaN) helps the mini LED not to degrade over the years as compared to OLED and other LEDs. These key factors are anticipated to drive the market for the mini LED during the forecast period.
Market Restraint: The high-power consumption by mini LEDs is the major restraint to the growth of the mini LED market
Mini LED consumes more electricity when compared to other LEDs such as OLED or QLED; thus, mini LEDs are expected to be widely used in applications where power consumption is not an issue, such as television. This factor is expected to be the key factor hampering the market growth during the forecast period.
The consumer electronics application segment held the largest market value in 2018 accounting for $5.5 million and is anticipated to reach $752.1 million by 2026, growing at a CAGR of 85.1% during the forecast period. The television segment is expected to hold the largest market value during the projected timeframe, accounting for $585.0 million by 2026, growing at a CAGR of 86.3% during the forecast period. The growth of the television segment is majorly due to the better quality and the contrast showcased by the mini LEDs.
Asia-Pacific Mini LED Market Overview, 2026:
The Asia-Pacific region will have enormous opportunities for the market investors to grow over the coming years
The Asia-Pacific is anticipated to experience a swift growth over the forecast period and is anticipated to reach $852.4 million, growing at a CAGR of 86.1%, during the projected time frame. This growth is owing to the rising adoption of televisions and rapid growth in the huge investment done by the companies that are investing a huge amount in technological advancements in various products such as laptops, and smart phones.
North America mini LED market Overview, 2026:
The North America region accounted for the highest market value in the year 2018 accounting for $6.6 million and is further anticipated to grow at a CAGR of 84.8% during the forecast period.
Mini LED market players include AU Optronics Corp. BOE Technology Group Co., Ltd., Ltd., Ever light Electronics Co. Ltd., Japan Display, Inc., Harvatek Corporation, Unity Opto Technology Co., Ltd., Innolux Corporation, Tianma Microelectronics Co., Ltd., among others. Acquisitions and product development are the key strategies that are being opted by the key industry participants to continue their market position in the regional and global markets. The mini LED key players are prominently focusing on technological developments, mergers and acquisitions, new product launches, and geographical expansion. These are some of the growth strategies adopted by these companies.
Porter’s Five Forces Analysis for Mini LED Market:
1. Bargaining Power of Suppliers: There are limited key players in mini LED market, and thus the bargaining power of suppliers is high.
The bargaining power of suppliers is High.
2.Bargaining Power of Consumers:Due to the lack of applications where the power consumption is not an issue, the bargaining power of consumer is High.
The bargaining power of consumers is High.
3.Threat of new entrants: The cost related to starting up a mini LED manufacturing plant is High.
The threat of new entrants is Low.
4.Threat of substitutes:There are many substitutes for mini LED, and thus the threat of substitutes is High.
The threat of substitutes is High.
5.Competitive rivalry in the industry:This market contains manymarket participants. Many of the key players are following similar strategies for the improvement of technologies.The competitive rivalry in the industry is High.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Application
Key Countries Covered
U.S., Canada, Germany, France, Spain, Russia, Japan, China, India, South Korea, Australia, Latin America, Middle East and Africa
Key Companies Profiled
Q1. What is the size of the mini LED market?
A. The global mini LED market size was over $23.7 million in 2018, and is further anticipated to reach $3,342.6 million by 2026.,
Q2. Which are the leading companies in the mini LED market?
A. AU Optronics Corp and EPI STAR Corporation are some of the key players in the global mini LED market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.
Q4. What is the growth rate of the Asia-Pacific Market?
A. Asia-Pacific mini LED market is projected to grow at 86.1% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Product development and joint ventures are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more in R&D practices?
A. Tianma Microelectronics Co., Ltd., and Unity Opto Technology Co., Ltd. are investing more in R&D activities for developing new products and technologies.
1. Research Methodology
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2. Executive Summary
3. Market overview
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4. Mini LED Market, by Application
4.1.1.Market size and forecast, by region, 2019-2026
4.1.2.Comparative market share analysis, 2018 &2026
4.2.Mobile Phone4.2.1.Market size and forecast, by region, 2019-2026
4.2.2.Comparative market share analysis, 2018 &2026
4.3.1.Market size and forecast, by region, 2019-2026
4.3.2.Comparative market share analysis, 2018 &2026
4.4.1.Market size and forecast, by region, 2019-2026
4.4.2.Comparative market share analysis, 2018 &2026
4.5.1.Market size and forecast, by region, 2019-2026
4.5.2.Comparative market share analysis, 2018 &2026
4.6.1.Market size and forecast, by region, 2019-2026
4.6.2.Comparative market share analysis, 2018 &2026
5. Mini LED Market, by Region
5.2.Market size and forecast, by Form, 2019-2026
5.3.Market size and forecast, by Application, 2019-2026
5.4.Market size and forecast, by country, 2019-2026
5.5.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
5.6.1.Market size and forecast, by Application, 2019-2026
5.6.2.Market size and forecast, by country, 2019-2026
5.6.3.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
5.6.9.Rest of Europe
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
5.7.1.Market size and forecast, by Application, 2019-2026
5.7.2.Market size and forecast, by country, 2019-2026
5.7.3.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
5.7.9.Rest of Asia-Pacific
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
5.8.1.Market size and forecast, by Application, 2019-2026
5.8.2.Market size and forecast, by country, 2019-2026
5.8.3.Comparative market share analysis, 2018 &2026
126.96.36.199.Market size and forecast, by Application, 2019-2026
188.8.131.52.Comparative market share analysis, 2018 &2026
184.108.40.206.Market size and forecast, by Application, 2019-2026
220.127.116.11.Comparative market share analysis, 2018 &2026
18.104.22.168.Market size and forecast, by Application, 2019-2026
22.214.171.124.Comparative market share analysis, 2018 &2026
6.1.AU Optronics Corp.
6.1.4.Recent strategic moves & developments
6.2.BOE Technology Group Co., Ltd.
6.2.4.Recent strategic moves & developments
6.3. EPISTAR Corporation
6.3.4.Recent strategic moves & developments
6.4.Foshan NationStar Optoelectronics Co. Ltd.
6.4.4.Recent strategic moves & developments
6.5.EverlightElectronics Co. Ltd.
6.5.4.Recent strategic moves & developments
6.6. Harvatek Corporation
6.6.4.Recent strategic moves & developments
6.7.Japan Display, Inc.
6.7.4.Recent strategic moves & developments
6.8.4.Recent strategic moves & developments
6.9.Tianma Microelectronics Co., Ltd.
6.9.4.Recent strategic moves & developments
6.10.Unity Opto Technology Co., Ltd.
6.10.4.Recent strategic moves & developments
One of the major trends in the computing sector over the last few years is a dramatic development in monitors and overall display technologies. As brands are enduring to enhance the resolution, especially in TVs, there has been a lot more attention given to other factors of image quality.
In recent years, Mini LED has undeniably developed as a new segment where LED companies and panel manufacturers have been investing profoundly to make their footmark in the industry. In the past, OLED displays had successfully conquered the back light display sector. Hence, the manufacturers that did not work on OLED displays have now shifted to their focus on the production of Mini LEDs—due to their highly competitive nature in terms of price and functions.
What are Mini LEDs?
Mini LED displays have a structure that is similar to existing LED and LCD displays. Basically, they are a miniaturized version of traditional LEDs. For instance, a TV display with dozens to hundreds of regular LEDs may have thousands of mini-LEDs instead. A mini LED-based display has improved control over local dimming and enhanced contrast ratios. TVs that are built using mini LEDs are expected to compete with OLEDs in terms of color quality with great lifespan, easy manufacturing, and reduced built-up cost. Today, after almost two years of research and development, Mini LED technology has succeeded in openly competing with OLED technology in the display market.
Technological revolution brought by Mini LEDs
With the advancement in display technologies, the panel industry is seen to focus on the quality and specifications of display panels to escalate the value of display products. This trend has encouraged the display panel manufacturers to move toward better features like light weight, better resolution, bendability, ultra-thinness, curved body, high contrast, high dynamic HDR, and wide color gamut.
Regardless of the promising features, Micro LED still encountered a huge number of technical glitches. Yet, developments have not been made for some significant technologies and devices. In this situation, LED brands have leaped into developing Mini LED displays based on a comparative established transitional technology.
At present, there are still some technical hurdles for Mini LEDs. For instance, the production rates of 6-inch PSS Nanoimprint Lithography and chips are required to be improved, the device used for SMT-process is not accurate enough, and many more. These bottlenecks are expected to hamper the development of Mini LEDs, resulting in greater prices and fewer applications in products. However, as Micro LED technology is not completely developed so far, and the OLED technology is highly saturated in the market, Mini LED technology is expected to be the key to next-generation displays.
Developments in the Mini LED market
There are a few companies currently working on mini-LED technology, but for the time being, only TCL, India’s most-popular Consumer Electronics brand has developed mini-LED TVs which are available in the market. Up till now, the other companies that have shown off Mini-LED displays are Sony and LG. This means that TCL’s dominance in this technology possibly won’t last much longer. With a substantial lead,
TCL is expected to be a front-runner in Mini-LED TVs in the coming future.
Additionally, Apple is apparently working on a number of devices with Mini-LED displays. The company is presently developing 6 mini-LED-support products including a 16-inch MacBook Pro, a 10.2-inch iPad, a 27-inch iMac Pro in 4Q20, a 12.9-inch iPad Pro, and a 14.1-inch MacBook Pro (upgraded from 13.3-inch), and a 7.9-inch iPad mini in 2020.
Future scope of Mini LED market
As per the report by Research Dive, the global Mini LED market is estimated to grow at a healthy growth rate of 85.6% from 2019 to 2026. Factors such as improved lifespan of mini LEDs over OLEDs, better contrast ratios, and deeper blacks are projected to fuel the growth of market for the mini LED’s in the upcoming years.
As a final point, Micro LED and Mini-LED are two of the most promisingnovel display technologies to come along in next few years. Both of themare expected to have a significant impact on the TVs we will purchase in the future, but undoubtedly Mini-LED is going to be the next-generation technology.