TechDogs-"Global PC Monitor Market Sees 17.1% Decline In Q2 2023 Amidst Inventory Corrections With Prospects Of A Holiday Quarter Rebound, Reports IDC"

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Global PC Monitor Market Sees 17.1% Decline In Q2 2023 Amidst Inventory Corrections With Prospects Of A Holiday Quarter Rebound, Reports IDC

By Business Wire

Business Wire
Overall Rating

NEEDHAM, Mass.--(BUSINESS WIRE)--#IDCTracker--The global PC monitor market remained steadfast in its efforts to manage inventory levels amidst a significant drop in demand during the second quarter of 2023 (2Q23). According to the latest findings from the International Data Corporation (IDC) Worldwide Quarterly PC Monitor Tracker, the second quarter of 2023 saw a year-on-year decline in shipments of 17.1%. Although the market slightly exceeded expectations by reaching just over 29.9 million units, it still fell short of pre-COVID levels observed in the second quarter of 2019, signaling that recovery remains a work in progress following the surge in volume witnessed from 2020 to 2022.

Market Highlights

All regions experienced a contraction compared to the previous year, with North America and Western Europe displaying the most significant declines. While the global market's performance was better than forecast, ongoing challenges persist, leading IDC to adjust its market forecast. A further 10.3% decrease in shipments is anticipated for 2023 due to weak demand and prevailing macro-economic uncertainties.

A graphic illustrating the worldwide market shares of the top 5 PC monitor companies over the previous five quarters is available by viewing this press release on IDC.com.

Recovery is anticipated in 2024 as consumer demand recovers and businesses migrate towards Windows 11 PCs, which is expected to stimulate office monitor purchases. However, this rebound will be gradual with volumes not expected to surpass 2019 levels until 2025. Beyond 2025, IDC predicts market stabilization, driven by a larger installed base resulting from the hybrid work model and continued growth in gaming monitors.

A graphic illustrating IDC's 2021-2027 forecast for the worldwide PC monitor market is available by viewing this press release on IDC.com.

The pandemic years have also ushered in lasting changes in the monitor market landscape with a notable shift from a predominantly commercial-driven market to one increasingly influenced by consumers. Prior to the pandemic, businesses accounted for 61% of monitor sales in 2019. However, due to the rise of hybrid work models, declining office occupancy rates, and the growing popularity of gaming and larger displays, IDC now anticipates that commercial shares will maintain a slim majority of around 53% for the foreseeable future.

"In 2024, we will see the introduction of new monitor models that offer enhanced value propositions," said Jay Chou, research manager, Worldwide Client Devices Tracker at IDC. "Anticipate a wide conversion of existing models to faster 100 Hz panels, an increase in mini-LED monitors, and continued growth in the gaming segment. These developments should increase reasons for consumers and businesses to consider upgrading their displays, contributing to the continued evolution of the monitor market."

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.

About IDC Trackers
IDC Tracker products provide accurate and timely market size, company share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

For more information, or to subscribe to the research, please contact Jackie Kliem at 508-988-7984 or jkliem@idc.com.

Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business.

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.

All product and company names may be trademarks or registered trademarks of their respective holders.


Contacts

Jay Chou
jchou@idc.com
650-350-6464

Michael Shirer
press@idc.com
508-935-4200

First published on Tue, Sep 26, 2023

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