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The Mini LED market is expected to grow by 2030 due to rising demand for consumer electronics with improved efficiency. The television sub-segment is expected to be the most dominant. The market in Asia-Pacific is expected to be the most lucrative.
NEW YORK , Aug. 30, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Mini LED Market by Application (Consumer Electronics, Mobile Phone, Laptop, Television, Automotive, and Others) and Regional Analysis (North America , Europe , Asia-Pacific , and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".
As per the report, the global mini LED market is predicted to grow at a noteworthy CAGR of 44.48% in the 2022-2030 timeframe, thereby gathering $10,931.10 million by 2030.
Dynamics of the Mini LED Market
Drivers: Mini LEDs are increasingly being used in consumer electronic goods like TVs, smartphones, etc. due to various advantages over LCDs such as greater control over light, illuminating better contrast, etc. This growing adoption of mini LED in consumer electronics to improve their performance is predicted to be the primary growth driver of the mini LED market. Moreover, increasing demand for gaming desktop monitors is further expected to propel the market in the forecast period.
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Opportunities: Increasing use of mini LEDs in high-tech applications in order to improve their efficiency and performance, and provide appliances with stylish designs is expected to offer numerous growth opportunities to the market. Additionally, the biggest boost to the market is anticipated to be provided by the growing demand for consumer electronic goods which give high performance.
Restraints: However, mini LEDs require higher precision in the substrate than traditional LEDs, which is anticipated to hamper the growth of the mini LED market.
Impact of Covid-19 on the Mini LED Market
The novel coronavirus pandemic and the resulting lockdowns have negatively impacted numerous manufacturing and service industries by hampering both the supply-side and demand-side supply chains. The mini LED market, too, faced a similar fate. Halting of manufacturing processes, closure of factories, and shortage of labour due to travel restrictions all contributed to a massive decline in the growth rate of the market in the forecast period.
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Segments of the Mini LED Market
The report has fragmented the mini LED market into different segments based on application and region.
Triangulate Mini LED Market Report data as per your Format and Definition & Avail 10%OFF
Significant Mini LED Market Players
The significant market players in the mini LED market are
These key market players are developing different business strategies like product development, merger and acquisitions, partnerships and collaborations to gain a commanding position in the market. – Inquire Here Before Buying the Full Report
For instance, in February 2021 , Kulicke and Soffa Industries, Inc., a leading semiconductor packaging and electronic assembly solutions provider, announced the acquisition of Uniqarta, Inc., a Massachusetts -based technology company. This acquisition is anticipated to help Kulicke and Soffa Industries, Inc. immensely as it will be able to cater to the demands of the consumer electronics industry in a much better way.
The ResearchDive report also summarizes many crucial aspects of the mini LED market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Mini LED Market:
Research Dive is a market research firm based in Pune, India . Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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