Smartphones have been a significantly disruptive innovation that is incenting many technologies to adapt to their needs. As of 2022, the number of smartphone users in the world is 6.648 billion, or 83.72% of the global population. Such a significant number makes smartphones a tremendously powerful market force. Screen technology has also been affected by it. Mini LED displays are being employed in smartphones and other high-end gadgets. Their innovative design consisting of thousands of tiny LED backlights offers vastly superior brightness, contrast ratio, and local dimming characteristics. These displays are being used in consumer electronics and automotive displays too. Such trends are creating notable opportunities for the global mini LED display market.
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Notable Benefits over Traditional Displays to Build Consumer Propensity
The growing demand for smartphones has been a key contributor to the growth of the global mini LED display market. Currently, these smartphones use OLED displays which replaced LCDs owing to their better energy efficiency, contrast, brightness, and depth of black. Now, Mini LED displays are gaining tremendous traction as the next step in display technology. Several major brands are investing in the technology and equipping mini LED tech into their upcoming flagship products. These displays also help limit hazardous radiations emitted by conventional LCD displays used in the past. Owing to these notable benefits, the global mini LED display market is projected to grow at a fast pace.
Flourishing Demand from Consumer Electronics Industry to Create Growth Possibilities
The advancements in consumer electronics products and technologies are directly coinciding with the global mini LED display market expansion. Of late, consumer preferences in terms of electronics have changed drastically. Smart and innovative electronic products are assisting consumers to perform recurring daily life chores more easily. Many market players are also accelerating their efforts to promote products that simplify people’s lives and introduce home automation. To this end, consumer preferences have changed in favour of multi-functional intelligent devices such as wearables, smart homes, and other consumer electronic products. As these products use mini LED displays for controls, these consumer electronics trends are expected to bode well for the market.
North America to Dominate Mini LED Display Market Amidst Growing Smartphone Consumption
The growing young population that uses smartphones and other smart gadgets is propelling North America into a market leadership position. In addition, the number of organisations buying advanced consumer electronics such as smartphones, monitors, laptops, smartwatches, and TVs is furthering the regional mini LED display market expansion. The region’s flourishing video games, gaming monitors, and console sectors are also creating sound growth possibilities. Meanwhile, Asia Pacific is also emerging as a notable mini LED display market due to sustained growth in the semiconductor industry in the region.
Prominent Market Players
Some of the leading players in the global mini LED display market to include Samsung (South Korea), Cree LED (U.S.), Effilux (France), Betlux Electronics Co., Ltd. (China), NICHIA Corporation (Japan), EVERLIGHT Electronics Co., Ltd. (Taiwan), OSRAM GmbH (Germany), LG Innotek (South Korea), Lumileds Holding B.V. (Netherlands), MLS (China), Broadcom (U.S.), Plessey (UK), EPISTAR Corporation (Taiwan), Luckylight Electronics Co. Ltd (China), Seoul Semiconductor Co., Ltd. (South Korea), Vollong Electronics Co., LITE-ON Technology Corporation (Taiwan), and Stanley Electric Co., Ltd. (Switzerland).
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