The global mini LED market is estimated to experience notable growth in the upcoming years. Several benefits of mini LED over various other LEDs are driving the growth of the market. The consumer electronics sub-segment is projected to dominate the market. The Asia pacific region market is estimated to rise significantly.
New York, USA, July 27, 2021 (GLOBE NEWSWIRE) -- Research Dive has added a report on the global mini LED market to its repository. The report states that the market is estimated to surpass $3,342.6 million and grow with a substantial CAGR of 85.6% from 2019 to 2026. The report is an in-depth study presenting exhaustive lookout of the present scenario and future perspective of the global market. The report is articulated by veteran market analysts and assures to be a reliable source of data, recent trends, and all-encompassing market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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Factors Impacting the Market Growth:
The benefits of mini LED over various other LEDs, such as extended life span, higher contrast ratio, lower degradation, and deeper black contents, are propelling the global mini LED market growth. In addition, various properties of mini LEDs like enhanced brightness, reduced energy usage, high contrast ratio, and broader color gamut solutions are expected to bring in rewarding opportunities for the market growth during the forecast period. However, high-power usage by mini LEDs than other LEDs is estimated to impede the growth of the global market.
The report segments the global mini LED market based on application and region.
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Consumer Electronics Sub-Segment to Hold Major Market Share
The consumer electronics sub-segment of the application segment is anticipated to grab leading market share by garnering $752.1 million by 2026, and rise with a CAGR of 85.1% during the estimated period. This growth is mostly attributed to the increasing demand for consumer electronics across the world.
Asia-Pacific Region to Observe Accelerated Growth
The report analyzes the global mini LED market across various regions including North America, Europe, Asia Pacific, and LAMEA. Among these, the Asia-Pacific region market is projected to rise significantly and garner $852.4 million by 2026, with a CAGR of 86.1% during the estimated period. The growth of this region market is mainly due to the growing demand for televisions and rising investments by various companies in technological developments related to numerous electronics products like smart phones, televisions, laptops, etc.
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Major Players in the Market:
The report lists some of the leading players functioning in the global mini LED industry including
AU Optronics Corp.
Unity Opto Technology Co., Ltd.
BOE Technology Group Co., Ltd.
Ever light Electronics Co. Ltd.
Tianma Microelectronics Co., Ltd.
Japan Display, Inc.
The report also delivers numerous industry-top strategies and tactics like top tactical initiatives & advances, new launch of product/service range, business performance, Porter five forces analysis, and SWOT analysis of the leading players, operating in the global industry. For instance, in June 2021, TCL, a Chinese multinational electronics company, announced about its plan to launch Mini LED TVs in India.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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