Global Mini LED Display Market Report and Forecast 2024-2032

Global Mini LED Display Market Outlook

The global mini LED display market size reached approximately USD 0.21 billion in 2023. The market is further projected to grow at a CAGR of 58.9% between 2024 and 2032, reaching a value of USD 17.50 billion by 2032.

Key Trends in the Market

Mini LED displays use smaller LED chips for producing the light emitted from the displays. The miniaturisation of the design aids in finer control of lighting levels, making them suitable for usage in both commercial and residential applications.

• The rising requirement by the automotive sector owing to various technological advantages offered by the product including improved brightness, precise backlight control, and local dimming is aiding the mini LED display market growth. The mini LED displays are usually incorporated in heads-up displays, infotainment systems, and dashboards.

• The expansion of the gaming industry owing to the increasing popularity of online streaming of games is providing lucrative growth opportunities to the market as mini-LED backlighting adds brightness and delivers more contrast. Due to the enhanced contrast, the display is able to accept a high dynamic range signal.

• Increasing investments by the key players of the market towards customisation of mini LED displays for making them suitable for various applications by altering the dimensions and sizes of the displays is further supporting the market expansion.

Global Mini LED Display Market Analysis

On the basis of technology, the market is bifurcated into mini display and mini lighting. Based on LED type, the market is divided into standard, low current, and ultra-high current. On the basis of application, the market is classified into automotive display, television, smartphone, and notebook/ laptop, among others.

Based on end-user, the market is categorised into consumer electronics and automotive, among others, with consumer electronics sub-divided by type into mobile phones, laptops/ notebooks, tablets, and television, among others.

On the basis of region, the mini LED display market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Lextar Electronics Corporation

• AUO Corporation

• BOE Technology Group Co., Ltd. (BOE)

• Innolux Corporation

• Harvatek Corporation

• Everlight Electronics Co., Ltd.

• Tianma Microelectronics Co., Ltd.

• Epistar Corporation

• Others

Market Share by End-User

Consumer electronics are expected to account for significant mini LED display market share over the forecast period owing to the rising demand for consumer electronics because of competitive pricing, convenience offered by the products, and wide product selection provided by manufacturers. Facilitation of mini LED displays in laptops, mobiles, and tablets provides enhanced contrast and brightness, improving the visual experience of the users. The increasing popularity of gaming and video streaming is further bolstering the demand for mini LED displays in the production of consumer electronics.

Market Share by Region

North America is anticipated to account for a significant share of the market in the coming years. This growth can be attributed to the rapid expansion of the automotive sector, increased demand for electronic products, and high investments towards the advancement of LED technology. The growing popularity of video games in North America is bolstering the mini LED display market demand. The finer control of lighting levels provided by mini LED displays coupled with lower manufacturing costs are further supporting the market expansion.

Competitive Landscape

Lextar Electronics Corporation, headquartered in Hsinchu City, Taiwan, specialises in the production of smart lighting control systems, LED for backlighting, and LED for lighting applications. The leading opto-semiconductor maker integrates downstream packages, upper stream epitaxial, and SMT.

AUO Corporation, headquartered in Hsinchu City, Taiwan, is an electrical, electronics, and appliance manufacturing company that is one of the leading providers of optoelectronic solutions. The company is also involved in the design and development of mini LED displays.

BOE Technology Group Co., Ltd. (BOE), headquartered in Beijing, China, is one of the leading IoT companies that provide professional services and intelligent interface products for human health and information interaction.

Other mini LED display market players include Innolux Corporation, Harvatek Corporation, Everlight Electronics Co., Ltd., Tianma Microelectronics Co., Ltd., and Epistar Corporation, among others.

Key Highlights of the Report