Mini LED Market To Reach $38.49 Billion By 2030 | CAGR: 54.3%

Mini LED Market Growth & Trends

The global mini LED market is projected to reach USD 38.49 billion by 2030, registering a CAGR of 54.3% from 2023 to 2030, according to a new study by Grand View Research Inc. Technological developments in LED lighting have resulted in improved manufacturing methods, more effective chip designs, and larger production volumes. Manufacturers have acquired economies of scale to cater to the growing demand for LED technology, which has allowed them to produce LED lights cost-effectively. The market has been constantly evolving in line with the improved accessibility to raw materials and the advances in manufacturing processes, which have contributed to lower production costs while improving the performance and efficiency of mini LEDs, thereby making mini LEDs a better choice for both manufacturers and consumers. The use of mini LEDs is no more limited only to televisions. Mini LEDs are also finding applications in monitors, laptops, computers, tablets, and mobile phones. As such, mini LED displays are turning out to be an appealing alternative for various use cases.

As the display market continues to evolve, display makers are trying aggressively to highlight specific attributes or innovations that can help in differentiating their products in the market. Mini LED displays with HDR and high-resolution capabilities can potentially enable display makers to provide more advanced and appealing attributes than conventional LCDs. The market is rapidly expanding in line with the traction of advanced display technologies, such as OLED, QLED, and micro-LED, are gaining.

Mini LED displays are poised to become more widely available in a variety of product categories, including smartphones, tablets, laptops, gaming monitors, vehicle displays, and commercial signs. This diversification is expected to open opportunities for wider adoption of mini LED displays in other industries and industry verticals, thereby prompting mini LED manufacturers to invest more aggressively in R&D activities, collaborative efforts, and strategic partnerships, which would further accelerate mini LED display adoption.

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Mini LED Market Report Highlights

• Mini display segment is anticipated to grow at a CAGR of 55.1% from 2023 to 2030. the rising demand for mini displays across various industries, such as automotive, entertainment, gaming, and aviation, is expected to boost the growth of the segment in the coming years.

• The standard mini LED segment is expected to register a CAGR of 55.7% through 2030. Standard mini LED lighting is continually evolving, resulting in increased productivity, luminosity, color quality, and flexibility in design.

• The automotive segment is expected to grow at a CAGR of 55.8% in the forecast period. The demand for innovative lighting solutions that offer improved efficiency, energy economy, and design flexibility is driving the development of tiny LEDs in the automobile industry.

• Middle East & Africa market is anticipated to grow at a CAGR of 57.2% from 2023 to 2030. The region has been witnessing the increasing adoption of LED lighting technology owing to the initiatives from the government to install energy-efficient lighting in the country.

• Key players in the market are adopting various business strategies to acquire a larger market share and increase their market revenue. For instance, in July 2023, BOE Technology Group Co., Ltd.launched the Z5OS Pro, a smartphone with a flexible OLED display and premium Ultra High Definition (UHD) image quality. The smartphone is equipped with a 6.78” flexible OLED display and a new-generation Q9 light-emitting device, with optimizations in light-emitting materials and production processes.

Mini LED Market Segmentation

Grand View Research has segmented the mini LED market on the basis of technology, LED type, application, and region:

Mini LED Technology Outlook (Revenue; USD Million; 2018 - 2030)

• Mini Display

• Mini Lighting

Mini LED Type Outlook (Revenue; USD Million; 2018 - 2030)

• Standard Mini LED

• Low-current Mini LED

• Ultra-high Output Mini LED

Mini LED Application Outlook (Revenue; USD Million; 2018 - 2030)

• Consumer Electronics

  • Mobile Phone

  • Laptops/ Notebooks

  • Television

• Automotive

• Others

Mini LED Regional Outlook (Revenue USD Million; 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • India

  • China

  • Japan

  • Australia

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa (MEA)

  • UAE

  • Saudi Arabia

  • South Africa

List of key players of Global Mini LED Market

• AUO Corporation

• BOE Technology Group Co., Ltd.

• EPISTAR Corporation

• EVERLIGHT ELECTRONICS CO., LTD.

• Foshan NationStar Optoelectronics Co.Ltd

• Harvatek Corporation

• Innolux Corporation

• Japan Display Inc.

• Suzhou Dongshan Precision Manufacturing Co., Ltd. DSBJ. 

• Tianma Microelectronics Co., Ltd.

• Unity Opto

• Hon Hai Precision Industry Co., Ltd.

• San’an Optoelectronics

• Lextar Electronics Corporation

• ams-OSRAM International GmbH