As display technology continuously evolves, Mini/Micro LED (MLED) has become a focal point in the global display industry as a new generation of display technology.
According to Futuresource Consulting, the global penetration rate of MLED is currently around 5%, and it is expected to reach 10% by 2027. Data from research firm TrendForce also reveals that the global LED display market is projected to reach $12.955 billion by 2026, with the MLED micro-pitch display market growing from $251 million in 2021 to $1.454 billion by 2026, at a compound annual growth rate (CAGR) of 40.08%.
Policy support is also evident. To promote the development of emerging industries, the government has introduced a series of relevant policies. The “Virtual Reality and Industry Application Integration Development Plan (2022-2026)”, “Implementation Opinions on Promoting the Innovation and Development of Future Industries”, and “Plan for Updating Equipment in the Cultural and Tourism Sectors” are just a few examples. These policy documents provide support from multiple angles, covering industrial innovation, equipment upgrades, market expansion, and more.
The introduction of these policies has undoubtedly created a favorable external environment for the rapid development of the MLED industry by reducing the cost of R&D and market expansion, accelerating the industry’s upgrading process.
All signs point to MLED technology entering a golden period of rapid development.
As a leading player in the video display industry, NovaStar has keenly observed this trend and made early moves, securing market positions and injecting strong momentum into the industry’s growth.
Why NovaStar Leads the Industry Before the New Trend Arrives
1. A Promising Industry with Rising Stars
MLED, a combination of Mini LED and Micro LED, offers a range of advantages, including high brightness, high contrast, low power consumption, and high resolution. These features give it extraordinary potential.
As MLED technology advances, the pixel pitch of LED displays has significantly shrunk, and the optimal viewing distance has greatly reduced, expanding the application scenarios of LED displays from outdoor large screens to indoor large screens, TVs, VR, wearables, and other commercial and consumer electronics.
For the commercial display industry, MLED brings an unprecedented visual experience and flexibility. It can provide high brightness, high clarity, and rich picture quality effects for large outdoor advertisement screens in malls, information display screens in retail stores, indoor conference all-in-one machines, and exhibition hall large screens.
At large-scale events, MLED technology demonstrates its unique value. With high brightness, wide viewing angles, and fast response times, it is the ideal choice for live event screens.
Overall, the MLED market is thriving. Numerous companies are excelling in the MLED boom, such as NovaStar, which went public in February this year. According to its recent financial report, NovaStar achieved revenue of ¥2.371 billion in the first three quarters of 2024, a 10.60% year-on-year increase, and net profit of ¥461 million, growing 10.03% year-on-year.
Despite external macroeconomic pressures and some domestic market challenges, NovaStar has achieved steady growth in both revenue and profit, thanks to its excellent performance in overseas markets and early deployment in the MLED industry.
2. Industry Pioneer, Continuously Enhancing Core Competitiveness through Technology and Innovation
With a long-standing reputation in the video display industry, NovaStar has firmly secured its position as an industry leader, recognized as a “pioneer” for its deep technical expertise and continuous innovation.
Technology and innovation have become essential for modern enterprises. The technologies and innovations at NovaStar do not merely stem from laboratory research but are driven by a “customer-demand-oriented” approach to technology.
Public information reveals that NovaStar has always adhered to innovation-driven, market-demand-oriented R&D, closely integrating domestic and international market needs. By accumulating core technologies and applying them to existing products, NovaStar has developed a series of high-performance video processing and display control solutions. These customer-driven solutions not only improve the visual effects of events but also enhance the user viewing experience.
With its outstanding technological strength and industry position, NovaStar has earned recognition within the industry, serving major global events like the CCTV Spring Festival Gala, Beijing Winter Olympics, Hangzhou Asian Games, and the Paris Olympics.
To lead the industry, long-term investment is essential. One key factor that helps NovaStar maintain its lead in the fierce market competition is its consistent investment. According to financial reports, NovaStar invests about 15% of its sales revenue into R&D annually, a figure far higher than the industry average.
This consistent investment has led to impressive returns. As of June 2024, NovaStar held 1,101 domestic patents (607 of which are invention patents), 23 foreign patents (20 of which are invention patents), 214 software copyrights, and 13 integrated circuit layout designs.
These extensive patents and R&D achievements not only demonstrate NovaStar‘s technical strength but also serve as a solid foundation for maintaining its leading position in the competitive market.
As NovaStar continues to expand its presence in the MLED field, it has launched a series of competitive products that address industry pain points and lay a strong foundation for the industrialization and large-scale application of MLED technology.
For example, to address challenges in mass production of MLED display panels, such as “MLED display consistency,” “ink color consistency,” “side-view consistency,” and “quality inspection and repair of massive transfers,” NovaStar has introduced core testing equipment for full-process intelligent management of MLED displays, from lighting to inspection, calibration, and repair, contributing to MLED display standardization and large-scale manufacturing.
Additionally, given the smaller size of MLED chips and the more complex optical issues, NovaStar has developed an MLED display ASIC control chip, embedding long-developed control logic and core algorithms into the chip, improving performance while managing power consumption and cost.
Moreover, NovaStar’s MLED display high-speed interface chip adopts a minimalist design, significantly reducing the number of signal lines in the display module, making the system more stable, easier to expand, and improving product reliability and maintenance efficiency.
3. Expanding Networks, Collaborating with Partners to Drive Industry Change
While one person may achieve good results in the short term, a collective effort is stronger for long-term success. As the MLED industry grows, the companies within it will rise together.
NovaStar understands this well. Cooperation and mutual benefit have been the foundation of its efforts to expand its network in recent years. It has actively pursued external collaborations in the MLED field, sharing resources and complementing strengths.
Through collaborations with companies such as SMTC, NovaStar has further expanded its MLED industry market share. SMTC, a global leader in MLED display, has abundant production and market experience, while NovaStar excels in display control and video processing technologies.
Public information shows that NovaStar and SMTC have deeply collaborated on MLED product R&D, production, and sales, leveraging each other’s strengths to push the MLED technology‘s industrialization and marketization forward.
Apart from collaborating with leading players in the industry, partnerships with universities have injected new vitality into NovaStar. In June 2023, NovaStar signed a strategic cooperation agreement with the School of Nano Science and Technology at Southern University of Science and Technology. Both parties will engage in deep technological exploration, leveraging each other’s cutting-edge R&D advantages to take MLED displays to the next level.
With continued deepening of the cooperation, it is expected that the development of MLED technology will accelerate, ultimately creating greater value for the industry and society.
4. Conclusion
Looking ahead, the MLED industry is expected to enter a new phase of remarkable growth. With further technological maturation and cost optimization, the penetration of MLED will significantly increase across various fields, including consumer electronics and commercial displays, making it one of the mainstream display technologies.
With its early strategic deployment, comprehensive product system, extensive cooperation network, and solid financial performance, NovaStar will maintain its leadership position in the industry’s development wave.
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