The Asia Pacific Mini LED Market would witness market growth of 59.2% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 21,965.1 thousand units, showcasing a growth of 45.1% (2019-2022).
Several advancements in next generation light emitting diode (LED) technologies have contributed to the widespread adoption of LEDs in the past few years. During the development of micro-LEDs and Organic light-emitting diodes (OLEDs), recent interest has been drawn to mini-LEDs as a technology and application interface between mini-LEDs and conventional LEDs. In addition, the development of mini-LED technology has enabled display panel manufacturers to implement the technology in various consumer electronics and automobiles. The increasing use of mini-LEDs in multiple industries is due to their small size, which allows for local dimming and high-density illumination designs. Mini LED is expected to emerge as a technology of the next generation, offering significant improvements in image quality and an ultra-compact/thin design.
In recent years, LEDs have replaced conventional incandescent and fluorescent illumination due to their high efficiency in various applications. This has resulted in substantial energy savings and extended lifespans for lighting systems. In addition, LED lighting equipment has continued to advance, particularly in lighting applications, making LED bulbs the preferable option for residential and commercial applications due to their low cost and widespread availability. In addition, innovative technologies such as Organic Light-Emitting Diode (OLED) and micro-LED displays have emerged, which use self-illuminating pixels to improve contrast and color performance over conventional LED-backlit LCDs. LEDs' expanding popularity in various industries is a result of their constant enhancements in efficiency, brightness, and color management, as well as their ongoing miniaturization.
APAC, particularly countries like Taiwan, China, South Korea, and Japan, is a significant manufacturing hub for electronics and display technologies, including mini-LED components. Many leading mini-LED manufacturers and suppliers are based in this region, ensuring a steady supply of components for industries. The Asia-Pacific region is home to some of the world's largest consumer electronics industry, including China, Japan, South Korea, and India. The demand for high-quality displays in smartphones, televisions, monitors, laptops, and tablets has driven the adoption of mini-LED technology. Leading smartphone manufacturers in APAC, such as Samsung, LG, Huawei, Xiaomi, and OPPO, have incorporated mini-LED displays into their flagship and premium smartphone models. Due to the above-mentioned aspects, the market for mini-LED will grow significantly in this region.
The China market dominated the Asia Pacific Mini LED Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,101.1 million by 2030. The Japan market is expected to witness a CAGR of 58.1% during (2023 - 2030). Additionally, The India market is expected to witness a CAGR of 60.2% during (2023 - 2030).
Based on Technology, the market is segmented into Mini Display, and Mini Lighting. Based on Application, the market is segmented into Consumer Electronics (Television, Laptops/ Notebooks, and Mobile Phone), Automotive, and Others. Based on Type, the market is segmented into Standard Mini LED, Low-current Mini LED, and Ultra-high Output Mini LED. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Mini LED Market is Predict to reach $26.6 Billion by 2030, at a CAGR of 58.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include AUO Corporation, Ennostar Inc., Everlight Electronics Co., Ltd., Harvatek Corporation, Japan Display, Inc., Tianma Microelectronics Co., Ltd., ams-OSRAM AG, Hon Hai Precision Industry Co. Ltd, Suzhou Dongshan Precision Manufacturing Co., Ltd., SANAN Optoelectronics Co., Ltd.
ByTechnology (Volume, Thousand Units, USD Million, 2019-2030)
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Type (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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