Revenue from the global mini LED market is estimated to reach US$ 572.4 million in 2024. The market has been analyzed to climb to a size of US$ 24.51 billion by the end of 2034, expanding at a CAGR of 45.6% between 2024 and 2034.
Sales of mini LEDs are forecasted to expand at a noteworthy pace in the coming years due to their uses in several industries such as consumer electronics, signage, transportation, and medical. High popularity of LED TVs and the opening up of new market opportunities in the Asia Pacific region are expected to drive the growth of the global mini LED market. East Asia and South Asia have more of a consolidated mini LED market. Mini LEDs offer superior power efficiency, brightness, and contrast ratios.
Mini LEDs are experiencing significant growth opportunities due to their ability to provide higher contrast ratios, higher brightness, enhanced power efficiency, and less proneness to burn-in. The market is primarily driven by trends in the consumer electronics industry, specifically the growing demand for LED-based TVs, laptops, and smartphones. Mini LEDs are becoming more and more common in display devices like TVs and smartphones, among many others.
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Key Takeaways from the Market Study:
“Growing demand for laptops, TVs with LED screens, smartphones, and other consumer electronics is driving mini LED market growth,” says a Fact.MR analyst.
Increasing Production of Smart Televisions and LED Projectors
The consumer electronics market is set to witness a rise in the demand for mini LEDs due to the growing popularity of smart screen products, LED projectors, and OLED smart televisions. The recent expansion of the mini LED market has also been aided by the rising demand for smartphones brought on by developments in the telecommunications sector and the introduction of LTE services.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the mini LED market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the mini LED market based on type (standard LEDs, low-current LEDs, ultra-high-output LEDs) and end-use industry (consumer electronics, automotive, aerospace & defense), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
Key Companies Profiled-
Epistar Corporation; Osram Licht AG; Nichia Corporation; Seoul Semiconductor Co., Ltd.; Apple Inc.; Samsung Electronics Co., Ltd.; LG Display Co., Ltd.; BOE Technology Group Co., Ltd.; AU Optronics Corp.; Innolux Corporation; Xiaomi.
Industry News-
Japan Display Inc. announced in July 2023 that JOLED's OLED, an OLED display manufacturer, had been acquired by JDI Design and Development G.K. (JDIDD), a subsidiary of the company. Through this acquisition, JDI is advancing its METAGROWTH 2026 growth strategy and delivering revolutionary advantages to shareholders and customers.
With the launch of the Redmi Max 100 2025 and Xiaomi TV S Mini LED series in China in April 2024, Xiaomi has updated its lineup of smart TVs. The Redmi Max 100 2025 is a 100-inch television featuring 4K resolution and a screen-to-body ratio of 98%.
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CAGR stands for Compound Annual Growth Rate, which measures the mean annual growth rate of an investment over a specified time period longer than one year.
Mini LEDs are smaller versions of traditional LEDs that provide improved brightness, contrast, and energy efficiency, making them ideal for various display applications.
The Asia Pacific region is significant for the mini LED market due to its high demand for consumer electronics and the presence of major manufacturers.
The consumer electronics industry drives the mini LED market, particularly through the growing demand for LED TVs, laptops, and smartphones.
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