PC Monitor Market Shows Positive Growth Trends into 2028

Positive Growth in the Global PC Monitor Market

The global PC monitor market has concluded the second quarter of 2024 with a remarkable 5.9% increase in unit shipments compared to the same quarter last year. This growth marks the third consecutive quarter of positive year-over-year results, signaling a strong market recovery following a downturn experienced in 2022 and 2023. The data highlights are derived from insights provided by the International Data Corporation (IDC), a well-regarded authority in technology market analytics.

Factors Contributing to Growth

Several key drivers have contributed to this unexpected surge in performance during the April to June period. Initially, the increase in shipment volumes can be partly linked to a systematic restocking of inventory, especially within the consumer segment. Furthermore, many manufacturers addressed the potential for rising costs, especially regarding panel components, by accelerating their production timelines to mitigate anticipated cost escalations. This move effectively led to an increase in demand ahead of price hikes. Additionally, many companies have focused on enhancing their offerings, notably upgrading from 60 Hz to 100 Hz refresh rate panels, as the cost of these faster panels has become comparable.

The overall expansion and competitiveness within the consumer and gaming sectors have further driven this second quarter's growth.

Market Outlook for 2024 and Beyond

Looking into the future, the outlook for the PC monitor market remains encouraging. With the stabilization of component costs, IDC forecasts that monitor shipments will continue to grow, albeit at a cautious pace. The ongoing transition towards Windows 11 PCs is expected to sustain this momentum, potentially bolstering growth through 2024 and 2025. Projected annual growth rates for monitor shipments are anticipated to exceed 2% for both 2024 and 2025.

Key Insights for the Remaining Year

• Regional Insights:

  During 2Q24, all major global regions saw growth, although China and Canada did not meet projections.

• Gaming Market Contribution:

  The segment for gaming monitors has thrived, now accounting for an impressive 20% of all monitor shipments during 2Q24—the highest share recorded since tracking began in 2016. Decreased prices and a contracting market for gaming PCs have freed up financial resources for gamers.

• Disciplined Recovery Projection:

  IDC projects a disciplined recovery in shipment volumes extending through 2025. Noteworthy new models featuring faster refresh rates and reduced prices for larger screen sizes have been significant contributors to this growth. Continued interest in gaming and the commercial sector's gradual shift towards Windows 11 PCs are also expected to yield additional benefits.

However, with commercial spending on PCs slowing down and disappointing commercial monitor sales in the last quarter, IDC has adjusted its projections for the commercial monitor market to a growth rate of 2.8% in 2024, revised down from 3.1%. Despite this, the total market outlook has been revised upward, now predicting a growth rate of 4% in 2024 and 2.3% in 2025, attributed to improved consumer demand.

The Shift in Market Dynamics

As Jay Chou, the research manager for Worldwide Client Devices at IDC, notes, "Historically, commercial monitors have dominated the market; however, numerous factors have led to a recent slowdown in their growth compared to the consumer sector. A stagnant environment for commercial device purchases, together with shifts towards hot-desking arrangements, has resulted in consumer units outnumbering commercial ones for the first time in 2Q24. Moreover, an increase in the popularity of ultra-wide monitors and larger screen sizes has diminished the reliance on multi-monitor setups, often seen in traditional office setups. IDC foresees that while commercial monitors will still account for a slight majority of shipments, ongoing innovations will attract more consumer interest."

Market Predictions and Vision

IDC's predictions for the worldwide PC monitor market indicate a stabilization in annual shipment volumes, expected to settle within the range of 132 to 135 million units beyond 2025, emphasizing a favorable yet cautious market evolution.

Frequently Asked Questions

What is the current growth rate of the PC monitor market?

The global PC monitor market experienced a growth rate of 5.9% in unit shipments for the second quarter of 2024 compared to the same period in the previous year.

What are the projected growth rates for the upcoming years?

IDC forecasts a growth rate exceeding 2% for monitor shipments in both 2024 and 2025.

What are the main factors contributing to the market's recovery?

Key factors include consumer inventory restocking, improved refresh rates for monitors, and competitive pricing within the gaming market.

How has the commercial monitor segment performed?

The commercial monitor segment has seen slower growth compared to consumer monitors, with a revised forecast indicating a growth rate of 2.8% in 2024.

What technological advancements are influencing monitor sales?

Advancements such as faster refresh rate panels, declining prices for larger screen models, and the increasing popularity of ultra-wide monitors are greatly influencing sales dynamics.

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