New York, US, July 29, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global IPS Displays Market information by Type, Application and Region – forecast to 2027” the Market is e is predicted to touch USD 74.87 billion at a 6.40% CAGR.
Dominant Key Players on IPS Displays Market Covered Are:
- AU Optronics (Taiwan)
- Acer Inc. (Taiwan)
- Lenovo Group Limited (China)
- WINSTAR Display Co., Ltd. (Taiwan)
- LG Display (South Korea)
- Samsung Electronics Co., Ltd. (South Korea)
- Sony Corporation (Japan)
- Japan Display (Japan)
- Panasonic Corporation (Japan)
- AsusTek Computer Inc. (Taiwan)
- Dell (US)
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IPS Displays Market Drivers
Growing Need in Consumer Electronics Display to Boost Market Growth
The growing need for IPS display in consumer electronics will boost the market over the forecast period. IPS displays are widely used in the consumer electronics sector as this offers better picture quality, wide viewing angles, high brightness, and more reliability in comparison to conventional liquid crystal panels. The IPS display is apt for use in video production studios, medical, and broadcasting stations for the aforementioned perks. Tablets and smartphones with IPS display are power efficient. Besides, color accuracy and wider viewing angle make them perfect for watching videos and movies and playing games. Also IPS display possess high refresh rate which allows the IPS display in offering a fast and smooth browsing experience for users. Hence, the popularity of IPS display for use in tablets and smartphones is increasing for these advantages that are likely to boost market growth. Owing to these factors, the need for IPS display in consumer electronics applications is on the rise that is fuelling market growth.
Besides, rapidly growing consumer electronic market, rise in disposable income, and increasing need for high-end screens are also adding market growth.
Opportunities
High-End Benefits to offer Robust Opportunities
Professionals like video editors, graphic designers, CAD engineers, and pro photographers are gaining high-end perks from the IPS displays for its improved resolution, speed, and contrast which may offer robust opportunities for the market in the forecast period.
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Restraints
High Cost to act as Market Restraint
The high cost of IPS displays may act as a market restraint over the forecast period.
Challenges
Reduction in Image Quality to act as Market Challenge
IPS display has slight light leakage especially when it is viewed from a slanted angle as this has difficulty to express dark black that reduces image quality. This may act as a market challenge over the forecast period.
Regional Analysis
APAC Region to Command IPS Displays Market
The Asia Pacific region will command the market over the forecast period. The presence of several manufacturing companies that offer IPS display panels in various sizes as per their applications, the rising urbanization, the increasing disposable income among users, rising population, and growing need for tablets and smartphones are adding to the global IPS displays market growth in the region. The presence of several companies like LG Display, WINSTAR Display Co., Ltd, Lenovo Group Limited, Acer Inc., and AU Optronics are constantly making huge investments to develop new technologies related to IPS display panels. China holds the utmost market share for the rising population coupled with growing need for better color quality and better picture that is driving market growth. India is likely to be the fastest-growing country-level market in the forecast period for the changing preference of users based on resolution and color, the presence of developing countries like China and India, and the increase in potential customers are adding to the global IPS displays market growth in the region.
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Industry Update
Sharp NEC Display Solutions, a leader in the projector and display market announced the accessibility of its new addition to its desktop display family. It is ideal for education environments, entertainment, financial, and corporate and will also offer value and flexibility. The MultiSync E273F, a 27” enterprise and ultra-narrow LED backlit desktop is ideal for corporate environments. Specially designed for enhancing work performance, the widescreen model features IPS panel technology with wide viewing angles and ergonomic adjustability which includes dual-direction pivot. The comprehensive, digital-only input panel, including USB type-c and DisplayPort HDMI connects with the current peripherals and digital connections & future-proofs one’s investment.
COVID-19 Impact on the Global IPS Displays Market
Several industries have been affected by the COVID-19 crisis and the global IPS displays market too is no different. It has also experienced the brunt of the deadly outbreak. Economic consequences, supply chain disruptions, fluctuations in demand share, and long-term & immediate impact of the COVID-19 crisis had a negative effect on the market growth. But with the relaxation of lockdowns, the market is likely to get back into normalcy soon.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.