The global mini-LED display market size was US$ 34.4 million in 2021. The global mini-LED display market is forecast to grow to US$ 3104.1 million by 2030 by growing at a compound annual growth rate (CAGR) of 88.1% during the forecast period from 2022 to 2030.

Mini-LED is an advanced display technology that offers higher contrast ratios and deeper blacks than conventional OLED technology. Mini-LEDs are much smaller than ordinary LEDs, which are lesser than 0.2 mm in diameter.

COVID-19 Impact Analysis

The COVID-19 outbreak has affected manufacturing activities, which ultimately resulted in a market loss. However, governments of various countries have increased the healthcare expenditure as a result of the COVID-19 pandemic. Thus, it may benefit the global mini-LED display market in the coming years.

On the contrary, travel bans & facility closures slowed down the manufacturing activities in the electronics industry. China, which is considered to be the largest producer and exporter of automotive and electronics, was drastically affected by the COVID-19 pandemic. Thus, the COVID-19 pandemic negatively influenced the global mini-LED display market.

Factors Influencing the Market

Mini LED backlights are gaining significant traction in the electronics industry. Major electronics companies such as Samsung, AUO, LG, and others are working on devices that use micro-LED technology. For instance, AUO has unveiled a range of gaming devices featuring micro-LED backlight technology. Thus, it will contribute to the growth of the global mini-LED displays market.

The high cost of mini-LED displays may limit the growth of the overall market. On the contrary, strategies by industry players will drive the mini-LED display market forward. For instance, Lextar inked a pact with Xiaomi in 2020 with the aim to launch mini-LED products. According to the agreement, Xiaomis 82-inch 8K and 4K LCD TVs will be powered with Lextars mini-LED backlight units (BLU). Such strategies are likely to benefit the mini-LED display market.

Growing investment in mini-LED display technologies will escalate the market growth.

Regional Analysis

The global mini-LED display market is forecast to witness the highest growth in Europe due to the presence of early adoption of technology. Moreover, the growing penetration of smart technology for homes will drive the market forward. The mini-LED display market is expected to register substantial growth due to growing investment in the display industry. Further, rising number of initiatives aiming at infrastructural development in Asia-Pacific are expected to benefit the market. In addition to that, consumer electronics and automotive manufacturers in North America are looking for advanced technology to boost their sales. Thus, it will benefit the mini-LED display market.

Competitors in the Market

AU Optronics Corp
Innolux Corporation
Japan Display, Inc.
Everlight Electronics Co. Ltd.
EPISTAR BOE Technology Group Co
Harvatek Corporation
San'an Optoelectronics
Lextar Electronics Corporation
Harvatek Corporation
VerLASE Technologies LLC
Other Prominent Players
Market Segmentation

The global mini-LED display market segmentation focuses on Application, End-Use, and Region.

By Application Outlook

Automotive Display
Television
Smartphones
Notebook/Laptop
Others
By End-Use Outlook

Consumer Electronics
Automotive
Other
By Regional Outlook

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America