The global PC monitor market concluded 2023 on a positive note, with the fourth quarter witnessing a surge in shipments, according to IDC.
IDC’s Worldwide Quarterly PC Monitor Tracker today said the PC monitor market saw a total of 31.9 million units shipped, marking a year-over-year growth of 3.8 percent during the fourth quarter of 2023 (4Q23).
This recovery comes on the heels of five consecutive quarters of annual declines, primarily driven by efforts to clear excess inventory accumulated during the pandemic. Notably, all major market segments experienced growth during the fourth quarter, with the consumer segment leading the charge over its commercial counterpart.
Contrary to expectations, the resurgence was not confined to the low-end segment but also extended to mainstream and premium price bands, including gaming monitors. This uptick in performance during the latter half of 2023 helped mitigate the significant declines witnessed in the first half, resulting in a more moderate 8.6 percent decline for the full year 2023.
Highlights of 2023
Regional Performance: Despite fierce competition and falling prices, all major regions posted year-over-year growth in 4Q23, except China, which experienced a slight decline.
Gaming Segment: Gaming monitors emerged as a significant driver of growth, constituting nearly 16 percent of all monitor shipments in 2023. The decrease in gaming PC shipments freed up more budget, while intense competition in the entry to mid-tier monitor segment contributed to lower prices.
With inventory levels now stabilized, IDC foresees a gradual recovery in shipment volume through 2025. Factors such as the introduction of models boasting faster refresh rates, declining prices for larger screen-sized models, and sustained growth in gaming are expected to fuel this recovery.
Additionally, the transition of businesses towards Windows 11 PCs and the gradual return to office spaces are anticipated to provide a further boost to commercial purchases.
In a departure from recent trends, IDC predicts that commercial growth will outpace the consumer segment in 2024 and 2025. Looking beyond 2025, shipment volume is projected to follow a modest, replacement-driven trajectory, reaching a peak of 133 million shipments in 2028.
Jay Chou, research manager for IDC’s Worldwide Quarterly PC Monitor Tracker, remarked, “Historically, monitor purchases have played second fiddle to decisions regarding PC acquisitions. However, as users gravitate towards larger screens, they discover the multitude of features that become more pronounced on expansive displays, potentially spurring faster refresh rates in the future.”
