Light Enhancement Film Market to Garner $371.1 Million
Wide applications of light enhancement films in various industries such as smartphones, personal computers, tablets and others, and the growing demand from electronics appliances drive the growth of the global light enhancement film market. However, high cost associated with light enhancement film hampers the global market growth. On the other hand, growing R&D activities associated with light enhancement film is likely to create potential opportunities for growth of the global market in the coming years.
The enforcement of various shutdown measures during the of COVID-19 pandemic had a disastrous effect on offline distribution channels of the supply chain, and trade and development in the global TV industry. A majority of lighting original equipment manufacturers (OEMs) and integrators witnessed a shortage of electrical components such as processors and LED drivers, resulting in demand-supply issue and escalated costs of light enhancement film products.
During the pandemic, notebook shipments increased by 40% to 3.3 million units, while desktop shipments increased by 70% year on year to exceed 700,000 units for the first time in eight quarters. Thus, the increasing demand for smartphones, personal computers, and notebooks provided lucrative growth opportunities for the light enhancement films market during the pandemic.
The growing adoption of work-from-home policy created an opportunity for the light enhancement market players where smartphones, laptops, tablets, and personal computers are used.
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