There are three different panels that can be installed in monitors. Which one is better or worse cannot be said across the board, since every area of use benefits from a corresponding panel. Each panel therefore has a big influence on what the screen is suitable for, since they have different properties.
IPS stands for In Plane Switching, which means “changing in the plane”. IPS panels rely on liquid crystals that do not let light through when they are parallel to the screen plane. If they do let light through, they rotate along the horizontal and thus remain parallel to the plane.
One disadvantage of this technology is that it does not produce as deep a black as other panels because the crystals cannot block the light completely. The contrast also only reaches a value of about 1000:1. An advantage, however, is that the picture quality remains fairly constant at oblique viewing angles and thus the intensity and the authenticity of the colors are largely preserved. Thus, IPS panels are especially suited for image editing and when you like to play colorful and detailed games that do not require increased speed.
With the development of Nano IPS panels, LG has managed to display colors even better, as they have integrated even finer nanoparticles directly into the LEDs of the backlight. This also allows these monitors to cover 98% of the DCI-P3 color space, which is a significant step forward, especially for image editing. Videos, HDR content and games also simply look better on a monitor with a Nano IPS panel.
A TN panel is especially interesting for gamers who play responsive games and depend on the screen reacting quickly. In addition, they are usually installed in inexpensive monitors because they have significant drawbacks in contrast and color reproduction. However, TN panels are the ultimate for gamers who play on an e-sports level and can sacrifice a bit of image quality.
The VA panel also relies on liquid crystals, but they are arranged vertically and thus allow light to spread. When stressed, they lay horizontally until they no longer let any light through and thus achieve a better black and contrast value than an IPS panel. However, VA panels do not come close to the color intensity of an IPS panel. VA panels are faster than IPS panels in their responsiveness, but still slower than a TN panel, which is why they generally form a kind of technical compromise between IPS and TN panels.