The global Covid-19 Impact on Monochrome Display Market 2020 is in talks as it is likely to expand at a higher valuation than $95.2 million which was recorded in 2016. Whereas, the market is also termed to grow at a rate of 13% CAGR during the assessment period of 2017 to 2023.
The study reveals the market is expanding across the globe. Monochrome displays are achieving massive momentum in the electronics market.
Top Market’s Drivers & Challenges
The factors attributing to the market’s expansion are the high-resolution capability and low cost of the display that are fueling the market’s growth.
The monochrome display is becoming a popular technology in gaming where it tends to display vector graphic image with high resolution. Similarly, the high-resolution capability and fast processing of display images are also significantly fueling its market growth.
At the same time, as monochrome displays are also most commonly used technology in the medical industry. The high-reliability performance of monochrome displays at a low price has on the other hand made it highly adopted by medical, manufacturing, and gaming industry, which has further led the market to expand at a rapid pace.
Other than this, with the budding technical advancement in the electronics sector, there witnessed a tremendous shift of CRT monitors to LCD monitors. Where, LCD monochrome delivers more clarity in display, saves energy, high megapixel pictorial view, and offer high-quality images, which is highly expected to mount its market presence in the coming future and would offer high competition to CRT monochrome screen market.
Also, LED monochrome display would also surge in the workspace optimization, and thereby predicted steady growth during the estimated period of 2017 to 2023.
Market Key Players
The crucial players of global Covid-19 Impact on Monochrome Display Market are listed as Richardson Electronics Ltd. (US), Eizo Corporation (Japan), Microtips Technology LLC (US), JVC Kenwood Corporation (Japan), Blaze display technology Co. Ltd. (China), Ampronix Inc. (US), Tianma Microelectronics Co. Ltd. (China), and Shelly Inc (US).
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Segmentation of Market
As per the study, the Covid-19 Impact on Monochrome Display Market is further also segmented based on the elements of screen type, display type, and end-user.
In terms of displays: The categories included as three screen types, namely green, white, and amber. Thus, if P1 phosphor is used, the screen will reflect the green color on display, if P3 phosphor is used, the screen will reflect amber display, and if P4 phosphor is used, the white color will be displayed on the monochrome screen.
The green monochrome screens as compared to old monitors illustrates the longest afterglow visualization to the viewers. Therefore, green monochrome displays are considered to be lighter in weight and carry the low cost of manufacturing; thereby, it is estimated to indicate high growth in the coming years.
The display type segmentation of the Covid-19 Impact on Monochrome Display Market comprises of CRT, LCD, and LED display. Wherein, the CRT segment occupied the largest market share in 2017, while now LCD segment might register the highest CAGR during the assessment period.
The end-user segmentation of the Covid-19 Impact on Monochrome Display Market includes the segments of automotive, medical, gaming, consumer electronics, and manufacturing. Among which, the medical segment recorded to have the largest market share in 2017 and is now expected to index the highest CAGR during the forecast period.
Covid-19 Impact on Monochrome Display Market, regionally, has spanned across the regions of North America, Europe, Asia-Pacific, and rest of the world.
Wherein, the North America region held the largest market share of in 2017 and now is estimated to grab a maximum share in the coming years. Some of the factors that are responsible for the market growth are high adoption of advanced technology, massive market of display controllers, as well as high adoption of LCD along with graphic monitor in various sectors.
Next is the Asia-Pacific region which is estimated to expand at the highest CAGR during the forecast period owing to factors such as surge in healthcare expenditure, multiple healthcare initiatives by government, as well as presence of leading monochrome display manufacturers in China.