Mini LED Market Size, Share & Trends Analysis Report By Application (Automotive, Consumer Electronics (Mobile Phone, Laptop, Television)), By Region, And Segment Forecasts, 2019 - 2025

Industry Insights

The global mini LED market size was valued at USD 24.6 million in 2018 and is anticipated to grow at a CAGR of 86.6% over the forecast period. The total shipments are expected to reach 370 thousand units by the end of 2019. Miniature light-emitting diodes are considered to be the next-generation display technology supporting high contrast ratio, enhanced brightness, wider color gamut, low energy consumption, and quick response time. Since their contrast and brightness features are perceived to be better than organic light-emitting diodes (OLEDs), they are anticipated to gradually erode the latter’s market share over the next few years.

Furthermore, manufacturers only need to redesign the driver ICs and invest in manufacturing equipment in the existing traditional LCD production setup, to ensure hassle-free production. Thus, for these traditional LCD manufacturers, mini LED technology provides an opportunity to upgrade product specifications and compete with existing OLED technology.

Mini LEDs sized 100-200 micrometers have been commercialized and several companies are working on the development of their 50-micrometer counterparts. Televisions, automotive displays, and smartphones are some of the applications that are gradually getting commercialized or are expected to gain commercialization in the next couple of years. Industry players such as EPISTAR Corporation, NationStar, Harvick Corporation, and AU Optronics Corp. have showcased their progress in the development of this technology through various trade shows, exhibitions, and electronics shows. Sanan Optoelectronics Co., Ltd. showcased mini LED and advanced micro-LED chips at the Consumer Electronics Show (CES) 2019.

One of the primary reasons behind the predicted growing demand for this market is that the micro light-emitting diode technology-another promising next-generation display technology-is currently facing a lot of technical barriers such as the need to improve wavelength and thickness uniformity need for Atomic Layer Deposition (ALD) process during chip manufacturing, and requirement of a suitable adhesion technology during the manufacturing process. These barriers have hindered the commercialization of micro LEDs as the desired breakthroughs to address them have not been achieved yet.

Initially, this technology is anticipated to cater to high-end consumer electronics applications, which include gaming notebooks and monitors, along with niche products like high-end televisions with high contrast, high resolution, and saturation. These products mainly focus on advanced specifications, rather than competitive pricing. Virtual reality (VR) is another application area where industry participants are leveraging the benefits offered by mini LEDs, which include high brightness and contrast ratio. These benefits are resulting in their implementation on a broader level. Several Japanese manufacturers are focusing on the development of LED VR products for the Tokyo Olympic Games to be held in 2020.

Application Insights

The mini LED market is segregated based on application in consumer electronics, automotive, and others. The consumer electronics segment held the largest market share in 2018. This segment comprises smartphones, notebooks/laptops, and televisions. Mini light-emitting diodes have potential applications in backlighting and digital displays. Moreover, as the cost of using these chips for self-emitting displays is quite high, they can be effectively used as a backlight in the displays of notebooks/laptops and televisions. Smartwatch and head-mounted displays are expected to be some of the futuristic mainstream applications.

Automotive display and lighting applications are expected to adopt this technology in the coming years. Mini LEDs provide better clarity in the display, thereby ensuring safety and security while driving. Everlight Electronics Co., Ltd., a Taiwan-based LED manufacturing company, developed a mini LED-based taillight, which was sent for trial to various automotive companies. The product showcased at Nepcon Japan 2019, implements the adaptive rear lamp system, which provides clearer images and adheres to all requirements of a rear light.

Regional Insights

From a supply chain perspective, Taiwan panel manufacturers are struggling in OLED panel production capacity, and thus these companies are focusing on the development of mini LED display solutions. Several Japanese companies such as Nichia Corporation and Japan Display Inc. are also working on the development of this technology and related products. Thus, with developments in Taiwan, Japan, and China, the Asia Pacific region is anticipated to be one of the prominent markets over the forecast period.

North America captured the largest market share in 2018. Consumer electronics and automotive manufacturers in the U.S. are highly open to experiencing new technologies and are therefore early adopters of various innovative products. Moreover, high regional demand for high-end gaming monitors and laptops in the country is expected to fuel market growth over the forecast period. Rohinni LLC, a U.S.-based startup, exhibited its range of products, including mini LED lights and panels, at SID Display Week 2019. The company is expected to commercialize its first mini light-emitting diode product by the end of 2019.

Mini LED Market Share Insights

Innolux Corporation; Japan Display, Inc.; Everlight Electronics Co. Ltd.; EPISTAR Corporation; and AU Optronics Corp. (AUO) are some of the prominent companies working on the development of this technology and its associated products. Since 2018, various LED manufacturers, including Lextar and EPISTAR Corporation, have started shipment of mini LED backlight products for high-end applications, such as gaming notebooks and monitors. The companies are keen on increasing their investments in the development of mini and micro light-emitting diodes as the industry has a strong potential in a wide range of applications across different verticals.

Shenzhen Refond Optoelectronics Co., Ltd showcased a 65-inch mini LED display at the Guangzhou International Lighting Exhibition (GILE) 2019. Unilumin Group featured a 0.9 mm mini LED screen at the Integrated Systems Europe (ISE) 2019 exhibition in Amsterdam. The company is mass-producing 0.9 mm modules for high-end applications. AOTO Electronics Co., Ltd. has developed four types of mini light-emitting diode products in different pixel pitches-1.5 mm, 1.2 mm, 0.78 mm, and 0.9mm-and has started mass production of each product.

Technology Developments

1)    Shenzhen China Star Optoelectronics Technology Co., Ltd. (CSOT), a subsidiary of TCL Corporation, showcased an 8-inch flexible display at SID Display Week 2019. The display has a 60% transparency rate and pitch size of 0.55mm

2)    AsusTek Computer Inc. presented the 32-inch 4K HDR monitor with mini LED backlight at the NAB Show 2019

3)    Sanan Optoelectronics Co., Ltd. showcased mini LED and advanced micro-LED chips at the Consumer Electronics Show (CES) 2019

4)    Innolux Corporation exhibited a 10.1-inch AM mini LED automotive display with 1000 local dimming zones and a 65-inch 8K mini LED display at the CES 2018

5)    Hongli Zhihui Group Co. exhibited a 12.3-inch mini LED display at the GILE 2019.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2025. For this study, Grand View Research has segmented the global mini LED market report based on application and region:

• Application Outlook (Revenue, USD Million, 2018 - 2025)

  • Consumer Electronics

    • Mobile Phones

    • Laptop/Notebooks

    • Television

  • Automotive

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA