![]() ![]() ![]() The mini LED industry is witnessing a wide array of advancements, such as display sizes, picture quality, and power consumption characteristics. High dynamic range, power-saving capability & the lower failure rate compared to traditional LEDs Thus, the increasing demand for such displays drives the growth of the segment. The 27-inch display for the iMac will showcase mini-LED backlighting, and many other features. For instance, in October 2021, Apple announced its plans to introduce a 27-inch iMac with mini-LED and ProMotion technology in the first quarter of 2022. The prominent players in the market are focused on launching innovative products keeping in mind the needs of the end users. The ever-changing preferences of consumers in electronics area is increasing the growth rate. The rise in demand for better display solutions by end users drive the growth of this market. Rising demand for miniaturized display in consumer electronics devices Thus, such a factor might hamper the market growth to a certain extent. Although there is a large amount of research in this field, many manufacturers might face a setback to adopt to different manufacturing process to mass produce mini LEDs. The high cost of the equipment, coupled with the high number of ICs required to function can hinder the market growth. ![]() Thus, such steps aid the mini LED market growth. ![]() For instance, in 2019, Unity Opto Group Co received long-term orders from US-based LED lamp vendors who are changing suppliers to prevent a hike in US customs duty rate on imports from China. Moreover, international alliances support the market growth significantly. Request To Download Sample of This Strategic Report: – The high availability of smartphones and gaming stations with mini LED technology positively impacts the mini LED display ecosystem. This demand has led to heavy commercialization of mini LED technology, along with additional dynamic characteristics. The tremendous growth in the consumer electronics industry all across the world is driving the growth of the mini LED display market. The market is anticipated to register a CAGR of 78.3% during the forecast period. The global mini LED display market held a market value of USD 174.5 million in 2020 and is estimated to reach USD 9,343 million by the year 2027. ![]()
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