Global PC Monitor Market Returned to Growth in Q4 2023 with a Modest Recovery Forecast to Continue in 2024, According to IDC

The global PC monitor market ended 2023 on a hopeful note, reaching 31.9 million units during the fourth quarter of 2023 (4Q23), according to the International Data Corporation (IDC) Worldwide Quarterly PC Monitor Tracker. This translates to year-over-year growth of 3.8%, which slightly outperformed IDC's forecast of 3.2% growth.

The recovery came after five consecutive quarters of annual declines while the market was focused on clearing excess inventory from the pandemic era. During the fourth quarter, key market segments all showed growth with the consumer segment outpacing the commercial segment. The improvement came not from the low end but from mainstream and premium price bands, including gaming. Overall, a more stable performance during the second half of 2023 helped to offset the steep declines of the first half, when shipments were down 17.4%, and enabling the market to decline 8.6% for the full year 2023.

2023 Highlights

• Regional Highlights: All major regions posted year-over-year growth in 4Q23 except China, which declined slightly despite fierce competition and falling prices.
• Gaming: Gaming monitors accounted for nearly 16% of all monitor shipments in 2023. A lull in gaming PC shipments freed up more budget and fierce competition in the entry to mid-tier monitor space further lowered prices.

With inventory back to healthy levels, IDC anticipates a steady recovery in shipment volume through 2025. New models with faster refresh rates, declining prices for bigger screen-sized models, and continued growth in gaming are just some of the factors driving the recovery. Furthermore, businesses migration towards Windows 11 PCs and improving office occupancy are also expected to bring some collateral benefit towards commercial purchases. In a reversal of recent trends, IDC expects commercial growth to outpace the consumer side in 2024 and 2025. Beyond 2025, volume should remain on a modest, replacement-driven path reaching a peak of 133 million shipments in 2028.

"Historically, monitor purchases have taken a back seat compared to decisions about which PCs to buy and when. We saw this during the pandemic when PCs both grew and shrank in a much more volatile trajectory than monitors," said Jay Chou, research manager for IDC's Worldwide Quarterly PC Monitor Tracker. “Hence, we anticipate a steadier recovery for monitors relative to the traditional PC market. However, as users migrate toward larger screens, they can discover the myriad features that become more visible on more expansive displays, and hopefully entice users to refresh at a faster pace in the future.

A graphic illustrating the worldwide market share of the top 5 PC monitor companies over the previous five quarters is available by viewing this press release on IDC.com. A second graphic illustrating IDC's 2024-2028 PC monitor forecast is also available.

IDC's Worldwide Quarterly PC Monitor Tracker gathers detailed market data in over 90 countries. The research includes historical and forecast trend analysis among other data.

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About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

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