Mini LED Market size is expected to be valued at USD 447.4 million in 2022 and is poised to grow at a significant CAGR of 39.2% over 2022–2028. LED is an advanced technology developed from traditional LED, which comprises several mini-LEDs in the display substrate to have an improved version of contrast and brightness than LCD. Mini LED is being rapidly adopted by the producers due to its benefits over LCD, as LCD cannot generate the absolute level of blackness on screen, whereas mini-LED has better control over the light, illuminating better contrast and brightness level. Mini LED market trend in consumer’s electronic market as it is popularization increasing day by day in the demand of display units such as TVs, smartphones, and others. Rising demand for consumer electronics with better performance and efficiency will drive the mini led market demand for ultra-high output mini-LEDs. However, mini-LEDs need much higher precision in the substrate than traditional LEDs. The time-consuming process compared to the traditional LEDs is projected to hinder the mini-LED market size growth. Mini LED used in modern LCD displays addresses the issue by increasing the dimming capabilities of LCD panels. Thus, it has popularized among numerous manufacturers to adopt the mini-LED for backlighting of LCD panels for getting better performance of display to create an immersive picture. These are some factors expected to create mini-LED market demand opportunities. Moreover, further advancements in the led device will surely create attractive opportunities among numerous players across the globe. The Asia Pacific is projected to register a considerable share in the coming next few years owing to the presence of key players across China, Japan, and Taiwan.
Recent Market Developments:
In June 2021, TCL launched the first mini-LED QLED 4K TV in India.