Mini/Micro LED technology is set to bring revolutionary changes to the display field and create significant growth opportunities for the MiniLED industry chain, according to CITIC Securities. As the world moves past the impact of the pandemic and focuses on economic recovery, the LED industry is expected to see a more favorable business climate in 2023, with a rebound in domestic orders and slower growth overseas.
Optimistic Outlook for the Traditional LED Market in 2023
CITIC Securities notes that the global LED industry is poised for recovery in 2023 as the effects of the pandemic diminish and economic activities pick up.
Growth Projections for LED Chips and Packaging
TrendForce forecasts that global shipments of LED chips and packaging will grow by approximately 10% and 5% year-on-year, respectively, in 2023. Similarly, shipments of LED display chips and packaging are expected to increase by around 10% and 8% year-on-year.
The LED industry’s inventory levels have improved, with domestic downstream orders gradually recovering and supply pressure on upstream raw materials easing. This environment is anticipated to drive performance recovery across various companies. Downstream manufacturers are likely to experience improved profit margins in the first quarter of 2023, with the positive effects gradually reaching the mid-to-high-end markets starting from the second quarter.
Mini/Micro LED: New Growth Opportunities
Cost Reductions and Market Penetration for Mini LED
CITIC Securities expects that the Mini LED supply chain will continue to reduce costs, promoting broader market penetration as demand in the display industry reaches its lowest point and starts to recover in 2023. The firm is optimistic about the development opportunities for Taiwanese and mainland Chinese manufacturers in the Mini/Micro LED sector.
Revolutionary Impact of Mini/Micro LED Technology
Mini/Micro LED technology is bringing groundbreaking changes to the display industry, presenting numerous growth opportunities for the MiniLED industry chain. This innovative technology is expected to significantly enhance display performance, opening up new applications and fostering growth across the industry.
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