The monochrome display market size is predicted to develop at a 13% CAGR during the forecast period (2020- 2027), states the latest Market Research Future’s (MRFR) monochrome display market forecast report.
Monochrome Display Market Drivers/Monochrome Display Market Trends
Shift to LCD Monitors to Boost Market Growth
With the increasing technical advances in the electronics sector, there has been a tremendous shift to LCD monitors from CRT monitors. LCD monochrome saves energy, delivers more clarity, offer high quality images, and has a high megapixel pictorial view. This shift to LCD monitors will boost market growth.
Extensive Use in the Medical Sector to Offer Robust Opportunities
The extensive use of monochrome displays in the medical sector will offer robust opportunities for the market over the forecast period. It has a wide area of applications including clinical review displays, radiology display, surgical display, diagnostic display, and others. They are widely adopted by pathology labs, diagnostic centers, clinics, and hospitals.
Restraints and Challenges
High Price to act as Market Restraint
The high price of monochrome display coupled with the impact of the COVID-19 pandemic may impact the monochrome display market share over the forecast period.
By screen type, the green screen segment will lead the market over the forecast period and at a high CAGR.
By display type, the CRT segment will dominate the market over the forecast period while the LCD segment will grow at a high CAGR over the forecast period.
By end user, the medical segment will spearhead the market over the forecast period and at the highest CAGR for the growing need for the healthcare infrastructure in hospitals for facilitating the surgical operations, examining the diseases that are caused at the human body’s internal organs.
North America to Precede Monochrome Display Market
North America will precede the market over the forecast period. High adoption of advanced technology, large market of display controllers, high adoption of LCD and graphic monitor in various sectors, advances of technology, and increasing market of display controller are adding to the global monochrome display market growth in the region. However, high market penetration of LED and LCD color displays and premium installation cost may impede market growth in the region. Canada and the US hold the utmost market share.
APAC to Have Admirable Growth in Monochrome Market
The Asia Pacific region will have admirable growth in the market over the forecast period. Rise in healthcare expenditure, the presence of leading monochrome display manufacturers in China, various healthcare initiatives by the government, surge in the production rate of computers, and the rise in the number of small startups in the gaming industries are adding to the global monochrome display market growth in the region.
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Eminent players profiled in the global monochrome display market report include Eizo Corporation (Japan), Richardson Electronics Ltd. (US), Blaze display technology Co. Ltd. (China), Microtips Technology LLC (US), Tianma Microelectronics Co. Ltd. (China), Ampronix Inc. (US), JVC Kenwood Corporation (Japan), and Shelly Inc (US).
Key players have incorporated several strategies to stay at the forefront such as mergers and acquisitions, new product launches, partnerships, and others.
Leading developer and provider of HD microdisplays and display subassemblies for medical products, consumer products, enterprise, and defense, Kopin Corporation has signed an agreement with Jade Bird Display for developing superbright monochrome LED microdisplays.
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