Computer Monitor - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2024 - 2029

The computer monitor market size is expected to grow from USD 44.67 billion in 2024 to USD 58 billion by 2029, registering a CAGR of 5.36% during the forecast period.

One of the main factors that has driven the development of the computer monitor industry is the increasing use of LED screens on TV sets, as well as Digital Signage solutions. In addition, there will be likely to be increased market opportunities due to considerable technological progress in the computer monitor sector.

Key Highlights

• The continued expansion of demand for computer monitors is expected to be impeded by the increasing popularity of smartphones. Smartphones, which are increasingly used for computer tasks, can play a larger role. As consumers are upgrading their mobile phones faster than computers or laptops, the efficiency gap between laptops and cell phones is widening. According to a Samsung-commissioned study, the number of smartphones would increase by 9% each year, reaching 7.2 billion by 2023.
• The growing demand for consumer electronics, including computer peripherals, like displays for desktops at universities, colleges, and offices, is one of the main factors contributing to market growth. In addition, contemporary computer displays have higher response times that describe the time required for individual pixels to adjust color, and this increases product demand even more.
• Moreover, the display may make it easier to set up a workstation and reduce demand for expensive desktop docking stations by introducing innovations such as USB Type C, which will enable market participants to take advantage of huge opportunities.
• In September 2022, Lenovo announced the introduction of the Lenovo Legion Y32p-30 monitor, offering elevated, hybrid-ready features to fit the modern workforce. Through this introduction, the company aims to provide better productivity and efficiency to customers doing work from home.
• A new range of products incorporating essential features, such as an in-built video camera, is now being launched by market players following the recent trend to work from home. In particular, Dell recently launched a variety of new business laptops, Optiplex computers, and monitors designed to be used in videoconferencing.
• However, the decline in demand for displays from the retail sector is projected to hamper the computer monitor market growth.
• During the pandemic, remote work made it possible for firms to develop new strategies. In particular, TCS announced during the COVID-19 pandemic that it would increase its productivity by outsourcing work. Accordingly, by 2025, the company has announced that one-third of its workforce will be able to work remotely. Such initiatives could lead to reductions in office space construction, which would put a brake on the computer monitor market.

PC Monitor Market Trends

Gaming to Witness the Fastest Market Growth

• The demand for a variety of hardware, including the monitors used in gaming consoles and personal computers, has been increasing due to growth in the gaming sector. To make graphics cards and CPU outputs look as good as possible when playing, monitors used in gaming are intended for this purpose. Refresh rate up to 120 Hz, response time of at least 3 ms, and a high dynamic range feature are some key characteristics requested by monitors for enhanced viewing experience.
• Better, smoother image production is made possible by superior graphics cards for gaming laptops and desktops. For the players, that's, of course, a very big deal. For instance, in May 2023, Nvidia announced the introduction of the GeForce RTX4060 family of GPUs to deliver PC gamers both great performance and great value at 1080p. This is expected to impact the demand for gaming monitors that support graphics.
• With growing technological adoption, China is one of the most important countries in the Asia Pacific region. The nation is home to one of the fastest internet bands and strong players like Tencent and NetEase. One of the main drivers of gaming is the country's growing exports and continuous innovation in the area of new games and consoles.
• With the advent of competitive gaming platforms, e.g. e., sports, which are now considered to be a billion-dollar industry, and the popularity of games such as Overwatch, CounterStrike, Fortnite, and PUBG, The gaming sector's popularity is growing. This is increasing the demand and growth of the market since screens can achieve refresh rates as high as 240Hz so that they are able to cope with rapid player movements. Furthermore, several leading players are focusing on developing and launching technologically advanced gaming monitors to gain a competitive advantage in the market. For instance, in June 2022, Sony Electronics Inc. announced to launch of INZONE, a new gaming gear brand to maximize performance and ability with upgraded gaming monitors and headsets. The new INZONE M9 gaming display with HDR provides 4K resolution and high contrast with a Full Array of Local Dimming for gamers seeking an immersive experience when playing games with brightness and deep blacks.

Asia-Pacific to Witness the Fastest Market Growth

• As most computer components and parts are produced in Southeast Asia, including countries such as China, Taiwan, or Malaysia, it is estimated that the Asia-Pacific region will likely have a major market share. These countries are well known for large scale. It's mass production of parts and cheap labor to assemble them.
• With the aim of transforming it into an outsourcing hub, China is looking forward to developing its information technology sector. As households for significant outsourcing firms, the Chinese government has selected 20 cities, including China's Hangzhou, Dalian, Shenzhen, and Wuxi. In China, the top monitor vendor firms like Apple and Samsung have factories capable of producing more than half their products sold worldwide.
• In order to create JPY 285 billion (USD 1.9 billion) in economic benefits every year by 2025, the government of Japan is planning to deepen the sports industry with the private sector so that it can help revive local economies and make people with disabilities more involved in society. Because of the increasing interest in esports, fans might be encouraged to imitate professional players who have good-quality equipment and improve their game skills. The players can easily access information and respond quickly on screens with high refresh rates.
• Video game releases are also driving the demand for premium monitors. For instance, in February 2023, Konka Group Co., Ltd. announced to launch of MOVEVISION, its latest 27-inch cordless smart monitor in Japan. MOVEVISION is equipped with an Android 11 operating system and backs music and video streaming applications that can be freely obtained from the Google Play store. It can also be used for business presentations and videoconferencing and turn any meeting room into a productive and inclusive collaboration workplace.
• In addition, the growth of the market over the forecast period is expected to be supported by a growing number of new products launched by major companies. For instance, the new 4K gaming display was launched in India by BenQ, one of the world's leading manufacturers of video game displays and computer accessories, in February 2022. Once linked to a computer, the monitor sports a 32-inch 4K Ultra-HD (3,8402,160 pixels) IPS LCD screen with a 1ms MRPT reaction time (2ms GtG) and a refreshing rate of up to 144Hz.
• Similarly, in December 2022, OnePlus announced the introduction of two computer monitors, the E24 and X27 series, in India. OnePlus X27 is a premium gaming monitor with a 27-inch screen, and the E24 series will be a mid-range computing screen for students and adults for regular usage. Through this introduction, the company aims to develop better consumer relationships and strengthen its customer base.

PC Monitor Industry Overview

The computer monitor market is moderately fragmented. The demand for high refresh rate monitors in the gaming industry and the growing adoption of LCD and 4K displays provide lucrative opportunities in the computer market. Overall, the competitive rivalry among the existing competitors is high due to the presence of key players such as Dell Technologies Inc., HP Inc., Lenovo Group Limited, Samsung Group, and Acer Inc. Furthermore, these players are adopting strategies, such as product launches and innovation, to gain a competitive edge in the market.

In June 2023, HP announced the introduction of a range of accessories such as a vertical mouse, a 45-inch curved monitor, a 4k webcam, earbuds, and a Thunderbolt G4 dock to support the customer's fast-evolving lifestyle in India. The all-new HP 45-inch curved monitor is an immersive 45-inch diagonal, dual QHD, 1500R curved monitor with a 165Hz refresh rate to provide a more expansive field of view and enable a comfortable viewing angle for the customer. Through this launch, the company aims to increase productivity and offer a hybrid work experience to customers.

In May 2023, Samsung Electronics announced to launch of its full 2023 Smart Monitor lineup. The new M5, M7, and M8 Smart Monitors (M50C, M70C, M80C) will help users customize their monitors to their distinctive styles and needs as they work, watch, and play. Through this introduction, the company aims to offer the best of gaming and entertainment, design, productivity, and personalized convenience and comfort.

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