COVID-19 Lowers LED Market, Mini LED Entered by Samsung and LG Rises

Source: TrendForce

[Asia Economy Reporter Changhwan Lee] A survey revealed that the global light-emitting diode (LED) market contracted by 10% compared to last year due to the novel coronavirus disease (COVID-19) this year.

According to market research firm TrendForce on the 25th, the expected global LED sales revenue this year is $15.127 billion (approximately 16.7 trillion KRW), which is a 10% decrease compared to last year.

Following an 8% decrease last year, this marks a decline for two consecutive years. LEDs are mainly used in various devices such as TVs, notebook PCs, and automotive lighting, but demand decreased this year compared to the previous year due to the impact of COVID-19.

However, with the commercialization of COVID-19 vaccines next year, suppressed consumption is expected to rebound, and the global LED market sales are projected to increase by about 3.8% from this year to reach $15.7 billion.

Meanwhile, as global electronics companies such as Samsung Electronics and LG Electronics have announced the launch of 'Mini LED TVs' next year, the mini LED market, with sizes ranging from 100 to 200 micrometers (㎛), is expected to grow significantly.

TrendForce estimated that the expected sales revenue of the mini LED market next year will be $131 million (145 billion KRW), representing a 900% growth compared to this year.

This content was produced with the assistance of AI translation services.