Mini LED market is anticipated to grow at a considerable CAGR of 12.4% during the forecast period (2023-2030).Mini LED uses micrometre-sized LED lights that allow it to eliminate the backlight and colour filters used in LCD LED displays for a thinner design. The miniature LEDs is typically used in small electronic appliances such as calculators, cell phones, and remote controllers. The evolving advancements in LED display is the key factor supporting the growth of the market globally.  According to the International Energy Agency (IEA), in July 2023, Eliminate fluorescent lighting as well to make LEDs the dominant lighting technology. About 50.0% of global residential lighting sales use LED technology. Hence, the market players are also focusing on introducing mini LED based solutions that further bolster the market growth. For instance, in January 2023, Nichia Corp. and Infineon Technologies AG launched the industry’s first high-definition mini-LED matrix solution. Both companies are launching the industry’s first fully integrated mini-LED light engine for HD adaptive driving beam applications.

Segmental Outlook 

The global mini LED market is segmented on the technology, LED type, and application. Based on the technology, the market is sub-segmented into mini display and mini lighting.Based on the LED type, the market is sub-segmentedinto standard mini LED, low-current mini LED and ultra-high output mini LED. Further, on the basis of application, the market is sub-segmented into consumer electronics, automotive, advertisement, aerospace and defense and others (optical film). Among the technology, the mini display sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of rental LED displays towards ultra-high resolution displays. These displays offer stunning clarity and vivid imagery, making them perfect for showcasing detailed content, such as product images and videos.

The Consumer Electronics Sub-Segment is Anticipated to Hold a Considerable Share of the Global Mini LED Market

Among the applications, the consumer electronics sub-segment is expected to hold a considerable share of the global mini LED market. The segmental growth is attributed to the growing influence of TV displays that produce the same brightness as a larger chip using a smaller LED chip. It is perfect for use in both residential and commercial lighting applications. Its miniature form enables precise control of illumination settings. Their extensive uses in the electronics sector and rising investment in mini LED technologies have a beneficial impact on the market.  For instance, in January 2023, Samsung Electronics Co. Ltd. advanced a new era of screens with its new 2023 Neo QLED, MICRO LED and Samsung OLED Lineup, boasting powerful performance, secure connectivity and personalized experiences. The company's advanced neural quantum processor, supports the quantum mini LED-lit TV with 14-bit processing and AI upscaling, enabling features such as shape adaptive light control and real depth enhancer pro.

Regional Outlook

The global mini LED market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the rapid development of LED technology has resulted in increased product availability, improved manufacturing efficiency, and lower prices. The presence of key market players including Nichia Corp. Luckylight Electronics Co., Ltd., Betlux Electronics Co., Ltd., Vollong Electronics Co., Ltd., Everlight Electronics Co., Ltd. and others across the region is further contributing to the market growth.

Global Mini LED Market Growth, by Region 2023-2030

The North America Region is Expected to Grow at a Significant CAGR in the Global Mini LED Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increase in demand for consumer electronics products, growth in the automotive sector, and advancements in technology. Furthermore, the proliferation of the Internet of Things (IoT) and LED lighting integration into different lighting fixtures have created new opportunities for lighting system customization and energy efficiency. Moreover, government-funded initiatives play a crucial role in promoting the adoption of mini LED lighting. According to the US Energy Information Administration (EIA), in March 2022, The use of LED bulbs in homes varies across key household characteristics, such as household income and ownership status. Among households earning less than $20,000 a year, 39.0% reported that LED bulbs were their main indoor lighting choice, while 54.0% of households earning $100,000 or more per year used mostly LED bulbs in 2020.

In North America the mini light-emitting diode (LED) market is owing to a rising number of younger individuals, institutions, industries, and organizations buying consumer electronics items such as mobile phones, laptops and monitors, especially in developed economies within the region. The key market players in the region include Cree LED, Broadcom Inc.,Ostendo Technologies, Inc., and others

Market Players Outlook

The major companies serving the mini LED market include Nichia Corp., Samsung Electronics Co. Ltd., EVERLIGHT Electronics Co., Ltd., AUO Corp., BOE Technology Group Co., Ltd. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2022, Huawei Technologies Co., Ltd. and Foshan Nationstar Optoelectronics Co., Ltd. collaborated on mini-LED and micro-LED technologies. The two companies plan to carry out in-depth innovation, and research to expand their future business coverage.

The Report Covers

• Market value data analysis of 2022 and forecast to 2030.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global mini LEDmarket. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.