May 22, 2020: The
global mini LED market size is expected to reach USD 5.9 billion by 2025, at a
CAGR of 86.6% over the forecast period, according to a new report by Grand View
Research, Inc. Amidst rapid development of Organic Light-Emitting Diodes
(OLEDs), mini LEDs have gradually forayed into the industry to bridge the
application and technology gap between micro LEDs, which have not been able to
overcome their inherent technical hurdles, and traditional LEDs. They are being
integrated into backlight modules owing to their increased color gamut and brightness
level, lower response time, and improved contrast ratio.
Increasing
demand for miniaturized display in consumer electronics devices is expected to
positively impact industry growth over the next few years. Mini light-emitting
diodes are expected to aid chip makers in gaining market share and technology
penetration. Chip sizes ranging from 100 to 200 µm were commercialized in late
2018. Consumer electronics, digital signage, and industrial displays have been
the early adopters of this technology. High dynamic range and power-saving
capability are some of the features that make them a suitable backlight
solution for next-generation displays. Key players are expected to cash in on
this opportunity by providing mini LED packages.
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Currently,
the applications are limited to backlighting in televisions and laptops. These
light-emitting diodes have the potential to alter LCDs by decreasing the
performance gap with OLED displays. Miniature LEDs are expected to grow beyond
these applications in the automotive, smartphone, and digital signage segments.
They are suitable for curved display and notch design, and thus in the coming
years, are expected to become mainstream smartphones.
Asia
Pacific is one of the prominent manufacturing hubs as there are numerous China-
and Taiwan-based companies involved in the development and mass production of
mini light-emitting diodes. As manufacturers themselves feel that the
manufacturing cost is much higher than other technologies, the focus currently
hinges on cost reduction before introducing the technology into mainstream
applications. Once low-cost products are introduced, miniature LEDs are
expected to expand their presence in other regional markets as well.
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Further key findings from the report suggest:
•
Mini LED is expected to become one of the mainstream display technologies, and
thus various vendors are reporting their developments by showcasing these
products in several exhibitions and trade shows
•
The automotive display application segment is expected to exhibit the highest
CAGR in mini LED market over the forecast period. Mini light-emitting diodes
have high contrast and brightness ratio, which provide clarity in automotive
displays, thereby ensuring safety and security
•
North America is expected to be early adopters of this technology owing to
regional demand for premium gaming monitors and laptops
•
Innolux Corporation; Japan Display, Inc.; Everlight Electronics Co. Ltd.; and
EPISTAR Corporation are some of the prominent companies working on the
development of mini light-emitting diode technology and products.
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