IPS stands for In-Plane Switching. IPS is a type of TFT LCD which is one of the most popular screen technology used today. In-Plane Switching involves switching and organizing liquid crystal molecules between the glass panels. In IPS screens, the liquid crystals are arranged horizontally to the screen instead of vertically as seen in some other technologies.
IPS displays provide high color quality and broadened viewing angles. Most of the PC-monitors, smartphones and tablets deploy IPS technology due to its high video quality and an enhanced display. It gives a better overall experience while watching movies, video chatting and playing games.
IPS technology was introduced to replace twisted nematic (TN) displays. IPS maintains higher quality color propagations by changing pixels to be parallel to the screen when the panels are energized.
This is contrary to other technologies such as the TN displays even though they are less expensive. Nowadays IPS screens are available in several variants such as Super IPS, IPS Pro and Advanced Super IPS.