PC Monitor sales declined in the second quarter of the year
Even though tech giants keep introducing new gaming monitors, the incoming data indicates a slowing trend in the market.
Smartphones have now woven themselves into the fabric of our daily existence. We're handling a wide range of tasks with these compact devices and their ever-expanding capabilities, often sidelining other gadgets. However, the surge in smartphone usage has had its repercussions. The global monitor market, for example, experienced a significant dip in Q2 2023, as shown in a report by IDC.
The report highlights a 17.1% year-on-year decrease in monitor shipments in Q2 2023. This drop wasn't isolated to a particular region; it was a global phenomenon. Multiple factors contributed to this decline. The Covid-19 pandemic, for one, played a pivotal role. Lockdowns disrupted economic activities, and people confined to their homes engaged in various activities that required buying new monitors. This surge, however, was short-lived. By the end of 2022, buying patterns normalized, leading to the current slump.
PC Monitor sales declined in the second quarter of the year
Despite this downturn, there are signs of recovery on the horizon. The pandemic popularized the work-from-home model, necessitating a comfortable home office setup. Multiple screens have become essential for many professionals juggling tasks between home and work environments. The gaming community, too, is a beacon of hope for the monitor industry. Gamers constantly seek advanced displays with higher refresh rates and reduced input lag. The growing demand for 4K and 8K displays further substantiates this optimism.
Moving forward, IDC anticipates a more stable trajectory for the global monitor market post-2025. Innovations are expected in 2024, with the introduction of faster panels and an increased presence of mini-LED monitors. This, combined with a steady demand from the gaming community, will likely entice both individual consumers and businesses to upgrade their displays, fueling the monitor market's evolution. In Q2 2023, leading the market share were some notable names: Samsung, Dell, HP, Asus, and Lenovo.
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