Smartphones have become an indispensable part of our lives. Nowadays, we handle almost all our tasks with these 5 to 7-inch devices and don’t feel the need for any other product. With each passing day, new features and improved performance only make this more prevalent. While this is great for the smartphone market, it’s not necessarily good news for other markets. A recent report published by IDC highlighted a dramatic decline in the global monitor market for Q2 2023. Here are the details…

PC Monitor Market Facing Headwinds in the Short Term, but Long-Term Outlook Remains Positive

IDC, a leading authority on market research that gauges the pulse of both consumers and producers, has released a new report on the global monitor market. According to this report, the market saw a 17.1% decline in Q2 2023 compared to the same period last year. Notably, this decline was not limited to a specific region or country but was observed in shipments worldwide.

There are several reasons for this downturn, with the most significant being Covid-19. As you may know, the lockdowns brought about by the pandemic disrupted economic forecasts, leading to a major spending shift. People stuck at home started picking up new hobbies to entertain themselves and bought everything they could afford. Yes, this includes monitors. This trend lasted for about two years, and everything returned to normal by the end of 2022. Unfortunately, the subsequent period began to reflect negatively on the charts.

However, the future still looks promising for the global monitor market, especially in Q4 2023. As we all know, one of the impacts of the pandemic has been the widespread adoption of remote work. For instance, I’m also working from home using my computer, without going to any physical office location. The rise of hybrid and work-from-home models is driving demand for monitors, as employees are now requiring multiple screens to accommodate both their home and office tasks.

I experienced this in my own situation as well. Additionally, the gaming sector is another significant driver for monitor demand. Gamers are on the hunt for high-performance displays with features like high refresh rates and low input lag. Let’s not forget the growing popularity and demand for 4K and 8K panels. All these factors combined indicate an upward trend.

IDC predicts that the global monitor market will stabilize beyond 2025. The platform also expects that new monitor models that offer enhanced value propositions, such as faster panels, an increase in mini-LED monitors, and continued growth in the gaming segment, will be introduced in 2024. These developments should increase reasons for consumers and businesses to consider upgrading their displays, contributing to the continued evolution of the monitor market.The top five PC monitor vendors in terms of market share in Q2 2023 were Samsung, Dell, HP, Asus, and Lenovo.

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