Indium Gallium Zinc Oxide Market Strategies and Forecasts 2024

Indium gallium zinc oxide (IGZO) is a crystalline, transparent, and thin film transistor (TFT). It comprises semiconductor materials such as gallium, indium, zinc, and oxygen. Indium gallium zinc oxide display is considered as one of the most efficient thin film transistor (TFT) to be used in flat panel displays and organic light-emitting diode (OLED) panels. The IGZO market is segmented by product type, by application, and by geography. The market has been segmented on the basis of product type into smartphones, tablets, wall size displays, wearable devices, televisions,laptops, monitors, and others.

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The market had predominantly been dominated by Amorphous Silicon (a-Si) and LTPS LCD, both combining to form the largest percentage of the smartphone displays market; but the current market trend indicatesthe growing demand and adoption rate of indium gallium zinc oxide technology. Currently, indium gallium zinc oxide technology is increasingly utilized for various display devices such as tablets, smartphones, TVs, and laptops which have ever increasing need for reliability, power efficiency, and high resolution.

On the basis of key applications, the global indium gallium zinc oxidemarket is categorized into –consumer application, home application, automotive, healthcare, industrial application, and others. The indium gallium zinc oxide market is primarily growing due to its affordable price and extensive applications in smartphones and other displays. With the increasing demand for touch sensitive, high resolution, and power efficient display devices such as tablets, smartphones, laptops, and televisions, demand for IGZO displays will also increase. However, in some segments, IGZO displays experience slow market growth due to increasing usage of low-temperature polycrystalline silicon technology and other advanced display technology.

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The global indium gallium zinc oxidemarket is segmented geographically into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. Asia Pacific was the most dominant market for indium gallium zinc oxide in 2015 and this region is projected to retain its dominance over the forecast period. This region accounted for the major market share due to increasing demand for indium gallium zinc oxide from emerging countries such as China, India, Singapore, Malaysia, Japan, and Australia. Among these countries China has emerged as one of the major manufacturers of indium gallium zinc oxidein this region. Hence, China is emerging as the most lucrative market for availability of low cost indium gallium zinc oxidein the world. Apart from this, the indium gallium zinc oxideindustry is expected to be majorly dominated by technologically advanced nations in the near future.

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