The global PC monitor market managed inventory levels amidst a drop in demand during 2Q23, as per the International Data Corporation (IDC) Worldwide Quarterly PC Monitor Tracker.
Shipments declined by 17.1 percent compared to the previous year. The market slightly exceeded expectations, reaching just over 29.9 million units, falling short of pre-COVID 2Q19 levels, indicating ongoing recovery efforts, the report said.
All regions saw contraction compared to the previous year, with North America and Western Europe experiencing significant declines. Despite better-than-forecast global performance, ongoing challenges prompted IDC to adjust its market forecast, anticipating a further 10.3 percent decrease in shipments for 2023 due to weak demand and economic uncertainties.
Recovery is expected in 2024 as consumer demand and businesses migrating to Windows 11 PCs stimulate office monitor purchases. However, this rebound will be gradual, with volumes not surpassing 2019 levels until 2025. Beyond 2025, IDC predicts market stabilization due to a larger installed base from the hybrid work model and continued growth in gaming monitors.
The pandemic has led to a lasting shift in the monitor market landscape, transitioning from a commercial-driven to a consumer-influenced market. Pre-pandemic, businesses accounted for 61 percent of monitor sales in 2019. However, due to hybrid work models, declining office occupancy rates, and the rise of gaming and larger displays, IDC expects commercial shares to maintain a slim majority of around 53 percent in the future.
“In 2024, we will see the introduction of new monitor models that offer enhanced value propositions,” said Jay Chou, research manager, Worldwide Client Devices Tracker at IDC. “Anticipate a wide conversion of existing models to faster 100 Hz panels, an increase in mini-LED monitors, and continued growth in the gaming segment. These developments should increase reasons for consumers and businesses to consider upgrading their displays, contributing to the continued evolution of the monitor market.”