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Computer Monitor Market Analysis APAC,North America,Europe,Middle East and Africa,South America - US,China,Japan,UK,Germany - Size and Forecast 2024-2028

Computer Monitor Market Analysis APAC,North America,Europe,Middle East and Africa,South America - US,China,Japan,UK,Germany - Size and Forecast 2024-2028

Published: Dec 2023 167 Pages SKU: IRTNTR76954

Market Overview at a Glance

$22.83 B
Market Opportunity
8.64%
CAGR
7.78
YoY growth 2023-2024(%)

Computer Monitor Market Size 2024-2028

The computer monitor market size is forecast to increase by USD 22.83 billion at a CAGR of 8.64% between 2023 and 2028.

  • The market is experiencing significant growth, driven by several key trends. One of the most notable trends is the increasing demand for high-resolution displays, as users seek to enhance their visual experience when working with visual content or playing games. Another trend is the growing adoption of curved monitors, which offer a more immersive viewing experience and can help save desk space, or real estate, in a home or office setting. Additionally, wireless connectivity is becoming increasingly important, allowing users to easily connect their monitors to their computers, smartphones, printers, docks, and even televisions without the need for cables. Furthermore, environmental concerns and sustainability are catalysts for innovation In the market, with LED monitors becoming increasingly popular due to their energy efficiency.
  • Apple's shift towards larger monitors for its MacBook Pro lineup is also expected to fuel demand for larger, high-resolution monitors In the US and North American markets.

    • What will be the Size of the Computer Monitor Market During the Forecast Period?

    Computer Monitor Market Size

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  • The PC monitor market, a crucial segment of the output device industry, continues to evolve with advancements in visual display technology. Traditional Cathode-Ray Tube (CRT) monitors have largely been replaced by flat-panel displays, including TFT-LCD and LED screens. These modern monitors offer improved energy efficiency, sleeker designs with minimal casing, and various connectivity options such as LVDS, Thunderbolt G4 dock, and HDMI. LED backlighting and CCFL backlighting are two prominent lighting technologies, each offering distinct advantages. LED screens provide better energy efficiency and longer lifespan, while CCFL backlighting offers cost-effectiveness and broader availability. The market dynamics are influenced by various factors, including increasing demand for high-resolution displays, the proliferation of smartphones and other mobile devices, and the convergence of entertainment, communication, and home-office activities.
  • Brands like BenQ, Samsung Electronics, and others continue to innovate, introducing smart monitors, curved displays, and advanced features tailored to specific user needs. Additionally, the emergence of smart monitors and the integration of technologies like Thunderbolt G4 dock, smartphones, and other peripherals have expanded the monitor's role beyond a mere output device. This evolution is driven by the growing need for versatile and multifunctional devices in today's interconnected world. In summary, the PC monitor market is characterized by continuous innovation and diversification, driven by advancements in display technology, user needs, and market trends.

    • How is this Computer Monitor Industry segmented and which is the largest segment?

    The computer monitor industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

    • Application
      • Consumer/commercial
      • Gaming
      • Others
    • Type
      • LCD monitor
      • LED monitor
      • CRT
      • Others
    • Geography
      • APAC
        • China
        • Japan
      • North America
        • US
      • Europe
        • Germany
        • UK
      • Middle East and Africa
        • South America

        By Application Insights

        • The consumer/commercial segment is estimated to witness significant growth during the forecast period.

        The market caters to the demand for visual displays used in personal and business applications. This market segment includes monitors for gaming, multimedia, and office work. Factors driving market growth include the increasing digitization of industries, advancements in display technologies, and the rising preference for visual content. Consequently, there is a significant demand for computer monitors in both the consumer and commercial sectors. Notable manufacturers in this industry include Samsung Electronics and BenQ, producing LCD and LED monitors for various applications. The market's expansion is influenced by factors such as increasing consumer spending, household penetration, and the consumer price index.

        The S-curve function and trend smoothing indicate a steady growth trajectory, with potential integration of 5G technology further enhancing market potential. The market serves a wide range of electronic devices, including smartphones, printers, copiers, and telecommunication equipment.

        Computer Monitor Market Size

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        The Consumer/commercial segment was valued at USD 23.23 billion in 2018 and showed a gradual increase during the forecast period.

        Regional Analysis

        • APAC is estimated to contribute 39% to the growth of the global market during the forecast period.

        Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

        Computer Monitor Market Share by Geography

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        The APAC market represents a substantial portion of the global computer monitor industry, driven by the region's large population and increasing technology adoption. Key countries, including China, Japan, India, South Korea, and Southeast Asian nations, exhibit growing demand for computer monitors. This market is influenced by both local and international monitor manufacturers, with notable brands like Samsung, LG, Acer, Asus, Dell, and AOC leading the way. These companies provide a diverse selection of monitors, catering to various consumer requirements through different specifications and price points. For instance, BenQ, a renowned global brand in digital lifestyle products and pioneer in professional display technology, launched the newest generation of PhotoVue professional photography monitors, the SW272U and SW272Q, in February 2023.

        Computer monitors in APAC are available in various types, such as TFT-LCD, LED backlit, CCFL backlit, Cathode-ray tube, Plasma display, OLED, and sizes ranging from small LCD monitors to large LED displays. Connectivity options include VGA, HDMI, DisplayPort, USB-C, LVDS, LCD, CRT, and more. These monitors are utilized in various applications, including commercial, gaming, virtual gaming, smartphones, B2C enterprises, electronic devices, digital devices, entertainment, televisions, game consoles, smart speakers, communication, telephones, home-office activities, printers, copiers, and more. The user penetration, consumer spending, and household numbers continue to increase, influencing the market's growth. The consumer price index, S-curve function, trend smoothing, and 5G penetration rate are essential factors impacting the market's development.

        Market Dynamics

        Our  researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

        What are the key market drivers leading to the rise In the adoption of Computer Monitor Industry?

        Rising demand for high-resolution displays is the key driver of the market.

      • The market In the US has witnessed notable expansion, fueled by the increasing preference for high-resolution displays. As technology progresses and becomes more affordable, there is a growing trend towards high-definition visuals and immersive experiences in computing devices. This shift is evident in various sectors such as gaming, design, entertainment, and productivity. The primary catalyst for this trend is the escalating consumption of visual content. With the emergence of high-definition videos, 4K streaming, and multimedia applications, users are increasingly seeking monitors that offer sharper images, vivid colors, and superior detail. Two primary technologies driving the high-resolution monitor market are TFT-LCD and LED backlighting.
      • TFT-LCD (Thin Film Transistor Liquid Crystal Display) monitors offer excellent image quality and response time, making them popular choices for professional use. On the other hand, LED backlighting provides energy efficiency and longer lifespan compared to traditional CCFL (Cold Cathode Fluorescent Lamp) backlighting. The market caters to diverse user needs, with offerings ranging from LCD monitors for home-office activities to LED monitors for commercial applications. The market also includes specialized monitors for gaming, virtual gaming, and smart monitors that offer advanced features such as Thunderbolt G4 dock connectivity and USB-C compatibility. The market size for computer monitors is estimated to grow significantly, driven by consumer spending and the increasing household number.
      • The consumer price index and S-curve function indicate a steady trend In the adoption of computer monitors, with 5G penetration rate expected to further fuel growth. The market research firms, including Vantage Market Research, Juniper Research, and Statista, provide valuable insights into the market dynamics and future trends. The market serves a wide range of electronic devices, including PCs, televisions, game consoles, smartphones, smart speakers, printers, copiers, and communication devices. As digital devices become increasingly integrated into our daily lives, the demand for high-quality visual displays is expected to continue growing.

        • What are the market trends shaping the Computer Monitor Industry?

        Growing adoption of curved monitors is the upcoming market trend.

      • The market In the US is witnessing significant growth due to the increasing demand for advanced visual display technologies. Output devices, such as PC monitors, play a crucial role in enhancing the user experience of electronic devices, including digital devices like smartphones and computers. The market is witnessing a shift towards advanced display technologies like TFT-LCD, LED backlighting, and OLED. These displays offer superior image quality, energy efficiency, and sleek designs. The casing and circuitry of computer monitors have also evolved, with a focus on reducing size and increasing functionality. Power supply systems have become more efficient, enabling larger and more powerful displays.
      • Connectivity options, such as VGA, HDMI, DisplayPort, USB-C, LVDS, and LCD, have expanded to cater to various user needs. Size is a significant factor In the market, with LCD monitors and LED monitors dominating the landscape. Commercial applications, such as gaming and virtual gaming, are driving the demand for larger displays. LED displays offer enhanced brightness, contrast, and energy efficiency, making them a popular choice for both commercial and consumer applications. Estimations suggest that consumer spending on computer monitors will continue to grow, driven by increasing household numbers and the consumer price index. The S-curve function and trend smoothing indicate a steady growth trajectory for the market, with a potential impact from the 5G penetration rate.
      • The market dynamics are influenced by various factors, including user penetration, size, and connectivity options. The market is a dynamic and competitive landscape, with various players offering innovative solutions to cater to diverse user needs. From BenQ's Smart Monitors to Samsung Electronics' advanced displays, the market is brimming with options for consumers and businesses alike. The market is expected to continue evolving, driven by advancements in technology and changing user preferences.

        • What challenges does the Computer Monitor Industry face during its growth?

        Environmental concerns and sustainability is a key challenge affecting the industry growth.

      • The market is witnessing significant attention due to the evolving needs of consumers and businesses for advanced visual display solutions. As output devices, monitors play a crucial role in enhancing the user experience of digital devices such as PCs, smartphones, and game consoles. The market encompasses various display technologies including TFT-LCD, LED backlighting, CCFL backlighting, Cathode-ray tube (CRT), Plasma display, OLED, and Size variants like LCD monitors and LED monitors. Manufacturers continue to innovate with technologies such as VGA, HDMI, DisplayPort, USB-C, LVDS, LCD, and CRT connectivity options. With the increasing demand for smart devices and home-office activities, the market is witnessing a surge In the adoption of LED displays.
      • Estimations suggest that the market will continue to grow, driven by consumer spending and the household number of digital devices. Environmental concerns have emerged as a critical challenge In the market. With the rapid turnover rate of monitors and the subsequent disposal of electronic waste, there is a growing need for sustainable practices. The UN estimates that 53.5 million metric tonnes of e-waste were generated in 2019. To mitigate this, manufacturers are implementing recycling programs and responsible disposal methods. Market dynamics include user penetration, consumer spending, and the introduction of new technologies like 5G penetration rate and trend smoothing.
      • Major players In the electronic devices industry, such as BenQ, Samsung Electronics, and B2C enterprises, are investing in research and development to cater to the commercial, gaming, virtual gaming, and entertainment sectors. In conclusion, the market is a dynamic and evolving landscape, driven by technological advancements and consumer demand for sustainable and environmentally friendly solutions. The market is expected to continue growing, with a focus on LED displays, advanced connectivity options, and eco-friendly practices.

        • Exclusive Customer Landscape

        The computer monitor market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the computer monitor market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

        Computer Monitor Market Share by Geography

         Customer Landscape

        Key Companies & Market Insights

        Companies are implementing various strategies, such as strategic alliances, computer monitor market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.

        Acer Inc. - The company provides a selection of computer monitors, including the Acer Nitro VG270 M3, Acer K273E, and Acer SA222Q models. These monitors feature LED backlight LCD technology for enhanced visual clarity and energy efficiency. With various sizes and specifications available, the company caters to diverse user needs In the market.

        The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

        • Acer Inc.
        • Apple Inc.
        • ASUSTeK Computer Inc.
        • BenQ Corp.
        • Dell Technologies Inc.
        • Exergen Corp.
        • HP Inc.
        • Huawei Technologies Co. Ltd.
        • Koninklijke Philips N.V.
        • Lenovo Group Ltd.
        • LG Electronics Inc.
        • Micro Star International Co. Ltd.
        • OnePlus Technology Co. Ltd.
        • Razer Inc.
        • Samsung Electronics Co. Ltd.
        • Seiko Epson Corp.
        • Toshiba Corp.
        • TPV Technology Co. Ltd.
        • ViewSonic Corp.
        • Xiaomi Communications Co. Ltd.

        Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

        Research Analyst Overview

        The market encompasses a wide range of output devices designed to display visual information processed by computers. These devices are essential components of the digital ecosystem, enabling users to interact with data and multimedia content. The fundamental components of a computer monitor include the circuitry, casing, power supply, and display technology. Display technologies have evolved significantly over the years, with TFT-LCD, LED backlighting, CCFL backlighting, cathode-ray tubes, plasma displays, OLED, and various connection technologies such as VGA, HDMI, DisplayPort, USB-C, LVDS, and LCD, among others, shaping the market landscape. The market is influenced by several factors, including size, technology, and application areas.

        LCD monitors and LED monitors have gained significant traction due to their energy efficiency, sleek designs, and high-resolution capabilities. The commercial sector, including B2C enterprises, has shown a growing preference for larger monitors to enhance productivity and improve collaboration. Gaming and virtual gaming applications have also driven demand for advanced features such as high refresh rates, fast response times, and wide color gamuts. LED displays, with their superior brightness, contrast, and energy efficiency, have become popular choices for gaming enthusiasts. The market for computer monitors is interconnected with the broader electronic devices and digital devices market. The increasing popularity of smartphones and other mobile devices has led to a shift in consumer spending patterns, with users opting for smaller, more portable displays.

        However, the demand for larger, high-resolution displays for home-office activities, entertainment, and communication continues to drive growth In the market. The market exhibits an S-curve growth pattern, with rapid growth followed by a gradual decline as the technology matures and saturation sets in. Trend smoothing techniques, such as moving averages and exponential smoothing, are used to analyze market data and estimate future growth. The penetration rate of 5G technology is expected to have a significant impact on the market, with faster internet speeds enabling higher-resolution video streaming and remote work capabilities. The increasing adoption of smart monitors, which integrate various functionalities such as voice assistants and Thunderbolt G4 docks, is also expected to drive growth In the market.

        In conclusion, the market is a dynamic and evolving landscape, shaped by technological advancements, changing user preferences, and broader market trends. The market is expected to continue growing, driven by the increasing demand for larger, high-resolution displays and advanced features for various applications.

        Market Scope

        Report Coverage

        Details

        Page number

        167

        Base year

        2023

        Historic period

        		 2018-2022

        Forecast period

        2024-2028

        Growth momentum & CAGR

        Accelerate at a CAGR of 8.64%

        Market growth 2024-2028

        USD 22.83 billion

        Market structure

        Fragmented

        YoY growth 2023-2024(%)

        7.78

        Key countries

        US, China, Japan, UK, and Germany

        Competitive landscape

        Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

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        What are the Key Data Covered in this Computer Monitor Market Research and Growth Report?

        • CAGR of the Computer Monitor industry during the forecast period
        • Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
        • Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
        • Accurate predictions about upcoming growth and trends and changes in consumer behaviour
        • Growth of the market across APAC, North America, Europe, Middle East and Africa, and South America
        • Thorough analysis of the market’s competitive landscape and detailed information about companies
        • Comprehensive analysis of factors that will challenge the computer monitor market growth of industry companies

        We can help! Our analysts can customize this computer monitor market research report to meet your requirements.

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        Table of Contents not available.

        Research Methodology

        Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

        INFORMATION SOURCES

        Primary sources

        • Manufacturers and suppliers
        • Channel partners
        • Industry experts
        • Strategic decision makers

        Secondary sources

        • Industry journals and periodicals
        • Government data
        • Financial reports of key industry players
        • Historical data
        • Press releases

        DATA ANALYSIS

        Data Synthesis

        • Collation of data
        • Estimation of key figures
        • Analysis of derived insights

        Data Validation

        • Triangulation with data models
        • Reference against proprietary databases
        • Corroboration with industry experts

        REPORT WRITING

        Qualitative

        • Market drivers
        • Market challenges
        • Market trends
        • Five forces analysis

        Quantitative

        • Market size and forecast
        • Market segmentation
        • Geographical insights
        • Competitive landscape

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        Frequently Asked Questions

        Computer Monitor market growth will increase by $ 22.83 bn during 2024-2028.

        The Computer Monitor market is expected to grow at a CAGR of 8.64% during 2024-2028.

        Computer Monitor market is segmented by Application( Consumer/commercial, Gaming, Others) Type( LCD monitor, LED monitor, CRT, Others)

        Acer Inc., Apple Inc., ASUSTeK Computer Inc., BenQ Corp., Dell Technologies Inc., Exergen Corp., HP Inc., Huawei Technologies Co. Ltd., Koninklijke Philips N.V., Lenovo Group Ltd., LG Electronics Inc., Micro Star International Co. Ltd., OnePlus Technology Co. Ltd., Razer Inc., Samsung Electronics Co. Ltd., Seiko Epson Corp., Toshiba Corp., TPV Technology Co. Ltd., ViewSonic Corp., Xiaomi Communications Co. Ltd. are a few of the key vendors in the Computer Monitor market.

        APAC will register the highest growth rate of 39% among the other regions. Therefore, the Computer Monitor market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.

        US, China, Japan, UK, Germany

        • Rising demand for high-resolution displaysThe global computer monitor market has experienced significant growth in recent years is the driving factor this market.
        • with a key driver being the rising demand for high-resolution monitors. As technology advances and becomes more accessible is the driving factor this market.
        • consumers are increasingly seeking high-quality visuals and immersive experiences in their computing devices. This has led to a surge in the adoption of high-resolution monitors across various sectors is the driving factor this market.
        • including gaming is the driving factor this market.
        • design is the driving factor this market.
        • entertainment is the driving factor this market.
        • and productivity. The primary factor driving the demand for high-resolution monitors is the increasing consumption of visual content. With the advent of high-definition videos is the driving factor this market.
        • 4K streaming is the driving factor this market.
        • and rich multimedia applications is the driving factor this market.
        • users are demanding monitors that can provide sharper images is the driving factor this market.
        • vibrant colors is the driving factor this market.
        • and better detail. High-resolution monitors is the driving factor this market.
        • such as 4K and even 8K displays is the driving factor this market.
        • offer superior picture quality is the driving factor this market.
        • enhancing the overall viewing experience and allowing users to engage more deeply with digital content. For example is the driving factor this market.
        • in February 2022 is the driving factor this market.
        • BenQ is the driving factor this market.
        • one of the top producers of computer accessories and video game displays worldwide is the driving factor this market.
        • launched the new 4K gaming display in India. The monitor has a 32-inch 4K Ultra-HD (3 is the driving factor this market.
        • 8402 is the driving factor this market.
        • 160 pixels) in-plane switching (IPS) LCD screen with a refresh rate of up to 144Hz and a 1ms Mobile Robot Programming Toolkit (MRPT) reaction time (2ms Gray-to-gray (GtG)) once it is connected to a computer. The gaming industry is the driving factor this market.
        • in particular is the driving factor this market.
        • has greatly contributed to the demand for high-resolution monitors. Gamers are seeking immersive and realistic gaming experiences is the driving factor this market.
        • and high-resolution displays play a crucial role in achieving that. The finer details and improved graphics provided by these monitors offer gamers a more visually stunning and engaging gameplay. Additionally is the driving factor this market.
        • the growing popularity of esports and the increasing number of professional gamers have further fueled the demand for high-resolution monitors is the driving factor this market.
        • as they require top-notch display performance to gain a competitive edge. For example is the driving factor this market.
        • Xiaomi launched its 27-inch 4K monitor in China in December 2021. The 27-inch IPS LCD screen on this new Xiaomi monitor offers 4K resolution. High-resolution monitors are in high demand in the design and creative industries. Professionals such as graphic designers is the driving factor this market.
        • photographers is the driving factor this market.
        • and video editors rely on precise color representation and accurate details to deliver their work effectively. High-resolution monitors provide them with the necessary clarity and precision required for their creative tasks is the driving factor this market.
        • ensuring accurate color reproduction and fine detailing. Furthermore is the driving factor this market.
        • the rise of remote work and the increased reliance on digital communication tools have amplified the need for high-resolution monitors. Professionals who spend hours in front of their screens for work purposes require comfortable and visually pleasing displays to reduce eye strain and promote productivity. Thus is the driving factor this market.
        • the rising demand for high-resolution displays will drive the growth of the global computer monitor market during the forecast period. is the driving factor this market.

        The Computer Monitor market vendors should focus on grabbing business opportunities from the Consumer/commercial segment as it accounted for the largest market share in the base year.