Mini LED Market Size Worth $5.9 Billion by 2025

The global mini LED market size is expected to reach USD 5.9 billion by 2025, at a CAGR of 86.6% over the forecast period, according to a new report by Grand View Research, Inc. Amidst rapid development of Organic Light-Emitting Diodes (OLEDs), mini LEDs have gradually forayed into the industry to bridge the application and technology gap between micro LEDs, which have not been able to overcome their inherent technical hurdles, and traditional LEDs. They are being integrated into backlight modules owing to their increased color gamut and brightness level, lower response time, and improved contrast ratio.

Increasing demand for miniaturized display in consumer electronics devices is expected to positively impact industry growth over the next few years. Mini light-emitting diodes are expected to aid chip makers in gaining market share and technology penetration. Chip sizes ranging from 100 to 200 µm were commercialized in late 2018. Consumer electronics, digital signage, and industrial displays have been the early adopters of this technology. High dynamic range and power-saving capability are some of the features that make them a suitable backlight solution for next-generation displays. Key players are expected to cash in on this opportunity by providing mini LED packages.