Global Automotive Mini Light Emitting Diode (LED) Market – Industry Trends and Forecast to 2029

Automotive Mini Light Emitting Diode (LED) Market Analysis and Size

The automotive light emitting diode lighting market is expanding due to the light emitting diode (LED) low cost and efficient operation. Light emitting diode (LED) are small, solid-state light bulbs that are both energy efficient and long-lasting. Along with vehicle technology advancement, automated light emitting diode (LED) lighting is one of them. The consumption of these has increased from two wheelers to four wheelers. Its popularity is growing by the day.

Data Bridge Market Research analyses that the automotive mini light emitting diode (LED) market which was growing at a value of 147.81 million in 2021 and is expected to reach the value of USD 17,638.22 million by 2029, at a CAGR of 81.80% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detail and updated price trend analysis and deficit analysis of supply chain and demand.

Automotive Mini Light Emitting Diode (LED) Market Scope and Segmentation

Market Definition

Mini light emitting diode light emitting diode (LED) displays use very small light emitting diode (LED) to generate the display's light. The new micro light emitting diode (LED) technology makes use of traditional backlit LCD technology. Rather than a single large or many smaller locally dimmed backlights, this method employs thousands of tiny light emitting diode (LED) backlights to provide significantly improved local dimming characteristics. As there is no practical limit on the size and density of the backlights, mini light emitting diode (LED) can scale from small to large panel sizes.

Global Automotive Mini Light Emitting Diode (LED) Market Dynamics

Drivers

• Built-in Advantages

Automotive mini light emitting diode (LED) have several built-in advantages, including exceptional readability, light in a much narrower spectrum than other illumination sources, energy efficiency, low operating costs, and long life. It is expected that these will reduce electronic power losses and increase market usage of competently used light emitting diode (LED) displays. Growing demand for reduced display in consumer electronics devices, increased television adoption, and the longer life cycle of mini light emitting diode (LED) compared to light emitting diode (LED) are some of the factors expected to drive growth in the automotive mini light emitting diode (LED) market during the forecast period.

• High adoption rate and usability

Due to their ability to provide higher contrast ratios, higher brightness, improved power economy, and less prone to burn-in, mini light-emitting diodes light emitting diode (LED) have significant growth potential. These characteristics increase their adoption in the automotive and defence sectors, which are expected to be the most significant factors driving the market's growth. Another major factor driving market growth is the increased demand for smart devices.

Furthermore, the increased penetration of its numerous features in daily life is expected to boost the market's overall growth. Furthermore, the high dynamic range, power-saving capability and the lower failure rate compared to traditional light emitting diode (LED) fuels the market growth. Furthermore, significant progress in overcoming current barriers and modernization cushions

Opportunity

The introduction of next-generation networks (NGN) is expected to create lucrative opportunities for the market, which will accelerate the growth rate of the automotive mini light emitting diode (LED) market in the future. Furthermore, the growing popularity of the internet of things (IoT) and increased investment in mini light emitting diode (LED) technologies will provide numerous growth opportunities in the market.

Restraints

The high cost of mini light emitting diode (LED) is limiting market growth. The high price creates additional affordability issues, which are expected to stymie market growth. Also, the large number of ICs required to operate the mini light emitting diode (LED) pose as a challenge for the automotive mini light emitting diode (LED) market over the forecast period.

This automotive mini light emitting diode (LED) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the automotive mini light emitting diode (LED) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Automotive Mini Light Emitting Diode (LED) Market

The COVID-19 crisis is expected to have a positive impact on the market. This is related to the rising demand for high-end consumer electronic devices as a result of work-from-home policies implemented by a number of organisations around the world. Furthermore, the emerging concept of online education is expected to drive demand for tablets and laptops, providing an opportunity for the use of mini light emitting diode (LED). However, the disruptions in the supply chain due to restrictions over the cargo movement of non-essential food items are anticipated to hinder the market growth. Furthermore, as one of the major suppliers of mini light emitting diode (LED) and their spare parts, China is expected to have a significant impact on the market during the forecasted years.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In 2019 TCL Corporation's Shenzhen China Star Optoelectronics Technology Co., Ltd. (CSOT) showed off an 8-inch flexible display. The panel size is 0.55mm and the transparency rate is 60%.
• In 2019 Innolux Corporation displayed a 10.1-inch AM mini LIGHT EMITTING DIODE (LED) car display with 1000 local dimming zones and a 65-inch 8K micro-LIGHT EMITTING DIODE (LED) display at the Consumer Electronics Show.
• In January 2021 TCL Electronics, a prominent consumer electronics manufacturer and one of the most powerful players in the global TV industry, will showcase OD ZeroTM Mini light emitting diode (LED) technology at CES 2021. OD Zero is a technology that combines TCL's 3rd generation Mini light emitting diode (LED) backlight technology with its powerful vertical integration to offer an ultra-slim profile that has never been achieved before with light emitting diode (LED) LCD TVs. OD Zero outperforms prior.

Global Automotive Mini Light Emitting Diode (LED) Market Scope

The automotive mini light emitting diode (LED) market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Mini Display
• Mini Lighting
• Others

Application

• Consumer Electronics
• Automotive
• Advertisement
• Aerospace and Defence
• Others

Automotive Mini Light Emitting Diode (LED) Market Regional Analysis/Insights

The automotive mini light emitting diode (LED) market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the automotive mini light emitting diode (LED) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America held the largest share of the global market. This is due to the growing presence of automotive and consumer electronics manufacturers and their willingness to invest more in products such as mini light emitting diode (LED). Further, the surging demand for high-end gaming laptops and monitors is projected to fuel up the market growth across this region.

The Asia-Pacific region is expected to grow significantly in the coming years. This can be associated with the rising presence of key players across China, Japan, and Taiwan. Several Taiwan players are struggling to manufacture light emitting diode (LED) panels. Moreover, companies across Japan like Japan Display Inc. and Nichia Corporation are engaged in product and technology development.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Automotive Mini Light Emitting Diode (LED) Market Share Analysis

The automotive mini light emitting diode (LED) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to automotive mini light emitting diode (LED) market.

Some of the major players operating in the automotive mini light emitting diode (LED) market are:

• Cree LED (U.S.)
• NICHIA CORPORATION (Japan)
• OSRAM GmbH (Germany)
• SAMSUNG (South Korea)
• EVERLIGHT ELECTRONICS CO., LTD.  (Taiwan)
• Lumi LED Holding B.V.  (Netherlands)
• EPISTAR Corporation (Taiwan)
• LG Innotek (South Korea)
• Broadcom (U.S.)
• Seoul Semiconductor Co., Ltd. (South Korea)
• Luckylight Electronics Co., Ltd (China)
• Plessey (UK)
• Betlux Electronics Co., Ltd. (China)
• EFFILUX (France)
• LITE-ON Technology Corporation (Taiwan)
• Vollong Electronics Co., Limited (China)
• STANLEY ELECTRIC CO., LTD. (Switzerland)

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