According to Market Research Future (MRFR), the global IPS displays market is estimated to reach USD 74.87 billion, with a CAGR of 6.40% from 2019 to 2025 (forecast period). The report describes the strengths, opportunities, threats, and emerging market risks and offers a comprehensive overview of the global business environment with the effect of COVID-19.
IPS is a type of LED display panel technology that is part of the LCD panel technology. Professionals typically use the IPS panel displays due to their high cost and various advantages provided by the IPS panel; for example, they provide wider viewing angles to the user, provide a quicker response, and provide better color/contrast compared to the various vertical alignment (VA) and nematic twisted (TN) panels. These panels have been designed to address the limitations of the TN panel. One of the key benefits of IPS panels is that the colors on the IPS monitor do not change when viewed from a different angle compared to the TN panels. Technological advancements have made it possible for manufacturers to design these display panels in such a way that they can embrace professional color space technologies; this is a crucial factor driving the demand across the globe.
Increasing disposable income around the globe is one of the key factors driving the market growth. In addition, professionals such as CAD engineers, pro photographers, graphic designers, and video editors benefit from IPS displays market due to their improved contrast, speed, and resolution. These displays are used in mid-range to high-range smartphones due to their high production costs. Apple Inc. also uses these displays in their smartphones because of its advantages over the TN panels.
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The global market for IPS displays has been segmented based on type and application.
Based on type, the global market for IPS displays has been segmented into AH-IPS, e-IPS, and others.
Based on application, the global market for IPS displays has been segmented into smartphone & tablet, TVs, PCs, and others.
By region, the global market for IPS displays has been segmented into North America, Europe, Asia Pacific, and the rest of the world.
Asia Pacific captured the largest market share in 2018 due to the existence of various manufacturing companies providing IPS display panels of varying sizes depending on their applications. Growing urbanization and rising disposable income among users in the region are key factors driving the demand for IPS displays. Moreover, the growing population and demand for smartphones and tablets are also boosting the growth of the industry—companies like AU Optronics, Acer Inc. Lenovo Group Limited, WINSTAR Display Co., Ltd, and LG Display are some of the leading manufacturers in the region who are steadily investing in the development of new technologies linked to IPS display panels. China held the largest share of the region in 2018 due to the growing population and rising demand for better picture and color quality, which is considered the driving force behind the growth of the market. However, during the forecast period, India is expected to be the fastest-growing country-level market due to evolving consumer preferences based on color and resolution.
MRFR recognizes the key participants in the Global IPS Displays Market as AU Optronics (Taiwan), Acer Inc. (Taiwan), Lenovo Group Limited (China), WINSTAR Display Co., Ltd. (Taiwan), Panasonic Corporation (Japan), LG Display (South Korea), Samsung Electronics Co., Ltd. (South Korea), Sony Corporation (Japan), Japan Display (Japan), AsusTek Computer Inc. (Taiwan), Dell (US), among others.
Prominent players continue to innovate and invest in research and development in order to deliver a cost-effective product portfolio. Recent mergers and acquisitions between market players have taken place, a strategy that business companies use to improve their access to customers.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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