The global display calibration management tools market was valued at US$ 1,329.2 Million in 2020 and is expected to surpass US$ 2,025.1 Million by 2028, registering a CAGR of 5.6% during the forecast period (2021-2028), according to the Global Display Calibration Management Tools Market Report, by Component (Software and Services [Managed Services, Professional Services, and Implementation services]), by Device Type (Standard Signage Monitor, Digital TV, Video Wall, and Professional Monitors), by Calibration Service Type (3D LUT Calibration, 3pt/6pt Calibration, and ICC Profile Based Calibration), by End-user (Media & Entertainment, Retail & QSR, Healthcare, Residential, Hospitality, and Transportation), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
The display technology has witnessed continuous innovation and transformation in the past few years. The industry has switched from conventional cathode ray tube (CRT) displays to highly advanced liquid crystal displays (LCD), LEDs (Light-Emitting Diodes), and OLEDs (Organic Light-Emitting Diodes). These advanced displays provide high resolution and ultra-high clarity, which results in increasing adoption of these high end displays. For instance, in August 2018, LG Displays announced that it sold over 1.3 million units of large size OLED panels in first half of 2018, which is twice the total sales of the company in 1st half of 2017.
The high end displays need to be calibrated timely to achieve better power output. Moreover, calibration process adjusts the color temperature and reduce strain on the light-generating parts of display. Therefore, the display screen uses less power. The adoption of calibration process is increasing in high end displays due to the advantages offered by this process. Hence, increasing demand for high end display TV such as Ultra HD and LED TV will drive growth of the display calibration management tool market.
Global Display Calibration Management Tools Market - Impact of Coronavirus (Covid-19) Pandemic
COVID-19 pandemic had a significant impact on the display calibration management tools market. Several countries across the globe such as India, Italy, the U.K., and others imposed nationwide lockdown in 2020. Many European countries such as Germany, Spain, and the U.K. also faced third wave of the COVID-19. Governments across the globe imposed strict lockdowns to contain the spread. For instance, the U.K. imposed nationwide lockdown from November 5, 2020 to December 2, 2020 to restrict the second wave of COVID-19. During these lockdowns, the transportation activities and movement of people except for essentials were restricted by the government authorities. This adversely affected the sales of display calibration management tools. The global pandemic disrupted the supply chain in both upstream as well as downstream of the target market. The manufacturing activities were paralyzed which impacted the supply of equipment.
Key Trend:
Rising Demand for Medical Calibration and QA Software
- Radiologists and physicians need superior image quality with reliable calibration and quality assurance software, in order to make confident decisions. The calibration software such as GammaComp MD, Double Black Imaging LCD Calibration Software, and PerfectLum 3 medical display calibration software provides superior image quality, which helps physicians and radiologists for better diagnosis. The introduction of these calibration software is expected to increase the demand for display calibration tools in the healthcare industry.
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Key Trends and Analysis of the Global Display Calibration Management Tools Market:
- North America held dominant position in the global display calibration management tools market in 2020 and is expected to retain its dominance throughout the forecast period. This is owing to the fact that the large group of market players has major market share in the region.
- Among component, service segment held a dominant position in the market in 2020 and is expected to retain its dominance during the forecast period. Among service segment, professional services is expected to have US$ 346.3 Million market value by 2020.
- Major players operating in the global display calibration management tools market include LG Electronics Inc., Datacolor, EIZO Corporation, NEC Display Solutions (NEC Corporation), Portrait Displays, Inc., QUBYX Software Technologies Ltd., General Digital Corporation, X-Rite, Incorporated, and Light Illusion Ltd.
