The North America Mini LED Market would witness market growth of 57.1% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 14,931.2 thousand units, showcasing a growth of 43.4% (2019-2022).
Display manufacturers are transitioning to mini-LED displays to satisfy consumers' evolving demand for enhanced visual experiences. Technological advancements are creating many opportunities to personalize micro-LED displays of varying sizes and dimensions to be suitable for various applications and use cases. Due to their adaptability, micro-LED displays can be utilized in a variety of applications, such as automotive displays, gaming consoles, consumer electronics, industrial displays, healthcare imaging, and AR/VR devices, among others.
In the coming years, the growing demand for miniaturized displays in consumer electronics devices is expected to benefit market expansion. Mini light-emitting diodes are expected to aid chip manufacturers in obtaining revenue and technology penetration. Electronics for consumers, digital signage, and industrial displays were the first to incorporate this technology. They are a suitable illumination solution for next generation displays because of their high dynamic range and ability to conserve power. Key players are expected to capitalize on this opportunity by supplying mini-LED packages.
North American consumers are inclining more towards high-end televisions featuring mini-LED backlighting technology. Major television manufacturers, including Samsung, LG, TCL, and Vizio, have introduced mini-LED TVs to the North American market. These TVs aim to enhance display quality, including improved brightness, contrast, and HDR performance. In North America, there is an increasing demand for high-performance monitors, especially among gamers and creative professionals. Mini LED technology is integrated into gaming monitors and professional displays to provide faster response times, reduced motion blur, and superior color accuracy. The demand for high-quality displays, including those with advanced technologies like mini-LED and OLED, has grown in Canada due to the emphasis on immersive gaming experiences. As a result, due to such factors, the market will expand in the coming years.
The US market dominated the North America Mini LED Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6,979.5 million by 2030. The Canada market is expected to witness a CAGR of 60.7% during (2023 - 2030). Additionally, The Mexico market is expected to witness a CAGR of 59.3% during (2023 - 2030).
Based on Technology, the market is segmented into Mini Display, and Mini Lighting. Based on Application, the market is segmented into Consumer Electronics (Television, Laptops/ Notebooks, and Mobile Phone), Automotive, and Others. Based on Type, the market is segmented into Standard Mini LED, Low-current Mini LED, and Ultra-high Output Mini LED. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Mini LED Market is Predict to reach $26.6 Billion by 2030, at a CAGR of 58.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include AUO Corporation, Ennostar Inc., Everlight Electronics Co., Ltd., Harvatek Corporation, Japan Display, Inc., Tianma Microelectronics Co., Ltd., ams-OSRAM AG, Hon Hai Precision Industry Co. Ltd, Suzhou Dongshan Precision Manufacturing Co., Ltd., SANAN Optoelectronics Co., Ltd.
ByTechnology (Volume, Thousand Units, USD Million, 2019-2030)
By Application (Volume, Thousand Units, USD Million, 2019-2030)
By Type (Volume, Thousand Units, USD Million, 2019-2030)
By Country (Volume, Thousand Units, USD Million, 2019-2030)
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