Micro-LED Display Market Expected to Hit USD 24,307.4

NEW YORK, US, Jan. 12, 2022 (Globe Newswire) – Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Small LED Display Market Information by panel size, by vertical, by application and region – projected to 2027Market size reaching US$24,307.4 million, with a compound annual growth rate of 82.1% by 2027.

Market Scope:
The global mini LED display market is experiencing rapid traction. The rapid transition from quantum dot LED to micro-LED and OLED describes the growing market landscape. Micro-LED displays are in great demand due to their high energy efficiency and imaging quality.

The major players dominating in Mini LED Display Market are:

  • X-Celeprint (Ireland)
  • LG Electronics Inc (South Korea)
  • Epistar Corporation (Taiwan)
  • Elux Inc. (United State)
  • Nanosys Inc. (United State)
  • JBD (Shanghai)
  • Sony Corporation (Japan)
  • Alydia (France)
  • Samsung Electronics (South Korea)
  • PlayNitride Inc. (Taiwan)
  • Plessy (Devon)

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Market Drivers
The main factors driving the market demand include the increasing adoption of small LED display technology due to its vibrant screens with low power consumption and its use in various applications. Moreover, the growing demand for micro-LED screens in smartphones, computer monitors, tablets and TV is driving the market growth.

The increasing dependence and demand for energy efficient display solutions and improved display technologies presents significant opportunities in the market. In addition, the increasing demand for head-up displays in cars to improve consumer experience and ensure safety is acting as a major growth driver.

Increased R&D investment and adoption of mini LED displays in the telecoms, commerce, healthcare and defense sectors will drive up market shares. Despite the lucrative growth opportunities, the LED display industry is facing some fundamental challenges, such as technological complexities, which are major headwinds for the rising market.

Also, high costs and compatibility issues associated with installation are significant challenges that slow down market growth. The high initial investments required for technological developments, changing consumer preferences, and manufacturing techniques are major factors that pose significant challenges. Moreover, the slow rate of technology adoption is a major factor hindering market growth.

However, large deployments of small LED displays in smartphones, computer monitors, tablets and TV will support market growth throughout the evaluation period. In addition, the high adoption of small LED screens in mobile phones and smartphones would boost market growth.

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Market segmentation covered by the research:
The market report is segmented into panel size, applications, segments, and regions. Of these, the panel size portion is divided into small panels, small and medium sized panels, and large panels. Further, the applications segment is further segmented into smartphones and tablets, NTE devices, TVs, monitors and laptops, digital signage, smartwatches, and displays, among others.

The vertical segment is divided into consumer electronics, entertainment and advertising, automotive, aerospace and defense, and others. The sub-region is divided into Asia Pacific, Americas, Europe and Rest of the World.

Regional Analysis
The global small LED display market is dominated by the Asia Pacific region. In 2020, the region captured the largest market share with 34.4%. The increasing penetration of mobile-connected devices is increasing the need for LED screens directly. Besides, the growing demand for HUD for cars in this region and the gradual strengthening of economy in India, China and Southeast Asian countries are boosting the market value.

In addition, the leading display manufacturers are shifting their bases to the rapidly developing countries in the region, providing significant impetus to the small LED display market share. The development of automotive and display technologies, along with the growing number of OEMs and aftermarket companies, is supporting the market size. Moreover, the increasing demand for HUD Automotive in the mid-range car segment and the improvement of socio-economic conditions create great opportunities in the market.

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Impact of COVID-19 on the global mini LED display market
The recent COVID-19 pandemic has affected the small LED display industry severely. Logistical problems driven by the pandemic posed major challenges, such as sourcing raw ingredients, attracting quarantined workforce, and delivering finished products to market. On the other hand, lockdown and working from home have increased sales of various consumer electronics, such as computers, laptops, and televisions.
As a result, the small LED display market is gradually getting ready and witnessing the launch of many products. The market is expected to recover and grow significantly in 2021 and beyond.

competitive analysis
The mini LED display market appears to be highly competitive due to the presence of many leading players. Industry players are seeking integration opportunities across the extended value chain to gain greater traction, with a focus on expansion of production facilities, research and development investments, and merger and acquisition activities.

For example, recently, on December 9, 2021, Questex, the preeminent event and digital platform for the digital signage industry, announced Sony Electronics’ participation in the Digital Signage Experiment (DSE) as the 2022 Presentation Sponsor. Sony offers professional displays, large-small LED displays Scale, video walls and all-in-one solutions with software.

The updated event plans to showcase technological innovations and solutions from market-leading manufacturers, and provide educational training experiences and networking opportunities for attendees. Sony Electronics will be the presenting sponsor for the DSE Show, which will take place from March 22-24, 2022, at the Las Vegas Convention Center.

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