Global Mini LED Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Mini LED Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Mini-LED is a new display technology that can improve the contrast ratio and have deeper blacks compared to LCD panels lit by conventional LEDs (light emitting diodes). As the name suggests, mini LEDs are much smaller than ordinary LEDs. Diodes smaller than 0.2 mm are generally classified as Mini-LEDs. Just like traditional LED lighting TVs, they are used to illuminate conventional LCD panels.

Market Overview:

The latest research study on the global Mini LED market finds that the global Mini LED market reached a value of USD 649.91 million in 2022. It’s expected that the market will achieve USD 5970.68 million by 2028, exhibiting a CAGR of 44.72% during the forecast period.

Operation of Mini LED Companies

Mini LED main operational impacts are business continuity planning, management of flexible work arrangements, management of employee communication, addressing employees' concerns about workplace policies, implementing preventive measures, reviewing current welfare policies, etc. Demand for home isolation, management efficiency of large and small companies has declined, commuting has been severely hindered, sales plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined.

Main Impact

Different industries are affected differently by the epidemic situation. The impact on Mini LED is mainly reflected in the supply of material and Downstream market demand. Affected by the COVID-19 epidemic, logistics will be suspended and the supply of Mini LED will be tight. Due to the global threat of COVID-19, the resumption of work in the factory will directly affect the customer's production plan for goods and shipments. The continuous outbreak of the international epidemic situation, if the personnel control of each country is extended, it will affect the smooth supply of equipment and materials.

High performance of Mini LED

Mini LEDs have significant advantages and are expected to be ramped up quickly: Mini LEDs are a transitional solution between small-pitch LEDs and Micro LEDs. It has undertaken the characteristics of small-pitch LEDs with high efficiency, high reliability, high brightness and fast response time, but the technical difficulty is lower than that of Micro LEDs. LEDs are easier to mass produce. Compared with OLED, Mini LED also has advantages in terms of yield, cost, energy saving effect and display performance. At present, the two key packaging technologies of Mini LED, COB and IMD have been breakthroughs, which will strongly promote the rapid growth of Mini LED in the field of LCD backlight and display.

High Cost

The biggest pain point of Mini LED is cost. Mini LED backlight technology requires more LEDs, which increases the cost of backlighting. On this basis, the number of LED chips used to superimpose Mini LEDs has greatly increased, and the overall cost is bound to increase significantly. The industry generally believes that the actual price of Mini LED backlights, from raw materials, chips to packaging, is at a relatively high position under the condition of not increasing the volume. Therefore, the current Mini LED backlight is mainly aimed at applications where prices are not very sensitive. However, with the maturity of the product technology route and the improvement of supporting materials and equipment capabilities, the future price of Mini LED backlights will steadily drop and gradually be introduced into mass consumer products.

Region Overview:

From 2022-2027, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Epistar is one of the major players operating in the Mini LED market, holding a share of 23.14% in 2021.

Epistar

Epistar Corporation manufactures and markets light emitting diode (LED) chips and epitaxial wafers. The Company's sells its products in Taiwan and exports worldwide. Today, EPISTAR has firmly become a major global supplier. EPISTAR has cooperated with some of the world's most well-known brands to promote LED applications on mobile screens, laptops, TVs and other devices. EPISTAR is bringing beneficial solid-state lighting into daily life.

Sanan Optoelectronics

Sanan Optoelectronics Co., Ltd was established in November 2000, San'an Optoelectronics is mainly engaged in the R&D, production and marketing of full-color, ultrahigh-brightness LED epitaxial wafers, chips, III-V compound semiconductors, microwave communication IC and power devices and optical communication components. Its products feature leading performance. Bolstered by its strengths, Sanan Optoelectronics invested 33.3 billion yuan in industries of III-V compound semiconductor materials, LED epitaxial wafers, chips, microwave IC, optical communication , RF filter, power electronics, SIC materials and devices and special packaging in 2018 after it increased the industrialization of LED epitaxial chip R&D and manufacturing, made investments in IC industry and completed the project of GaAs high-speed semiconductor and GaN high-power semiconductor in 2014. When completed in 2022, Sanan Optoelectronics will grow its presence in the whole industry chain of high-end compound semiconductors and become a lead ing company in technological strength and production capacity.

Segmentation Overview:

By type, 100~200 um segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Monitors segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Mini LED market covered in Chapter 3:

Lextar
Xiamen Changelight
HC SemiTek
Nichia
OSRAM
Epistar
Sanan Optoelectronics

In Chapter 4 and Chapter 14.2, on the basis of types, the Mini LED market from 2018 to 2029 is primarily split into:

50~100um
100~200um

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Mini LED market from 2018 to 2029 covers:

Smartphones
Automotive
TV
Monitors

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)