Bucking a year of slight unit declines, the global monitor display industry is paradoxically surging toward a $68.7 billion future, as explosive demand from gamers and professionals is radically transforming everything from screen technologies to market shares.
Key Takeaways
- In 2023, the global PC monitor market revenue reached $28.5 billion, marking a 2.1% year-over-year growth driven by demand for high-resolution displays
- The monitor display market is projected to grow from $45.2 billion in 2024 to $68.7 billion by 2030 at a CAGR of 7.2%, fueled by gaming and professional sectors
- US PC monitor market shipments declined 7.5% YoY to 17.2 million units in 2023 due to inventory adjustments
- OLED monitor panels saw a 250% shipment increase in 2023 to 120,000 units
- LCD panels held 92% of monitor panel market share in 2023, with IPS technology at 65% within LCD
- Mini-LED monitor adoption rose to 2.5 million units shipped in 2023, up 180% YoY
- Global PC monitor shipments totaled 121.7 million units in 2023, down 1.7% YoY
- Q1 2024 monitor panel shipments reached 31.8 million units, up 4.2% QoQ
- China monitor panel production capacity hit 85% utilization in 2023, producing 112 million units
- Dell held 18.2% market share in PC monitor shipments in 2023 with 22.1 million units
- HP captured 16.5% of global monitor market in 2023, shipping 20.1 million units
- Lenovo's monitor market share rose to 12.4% in 2023 from 10.8% in 2022
- 65% of consumers prefer IPS panels for color accuracy in surveys conducted in 2023
- 42% of gamers prioritize refresh rates over 144Hz in 2023 purchasing decisions
- Average monitor screen size purchased increased to 27.3 inches in 2023 from 26.1 in 2022
The monitor market grew in revenue despite a slight decline in total shipments last year.
Consumer Trends and Forecasts
165% of consumers prefer IPS panels for color accuracy in surveys conducted in 2023
Verified242% of gamers prioritize refresh rates over 144Hz in 2023 purchasing decisions
Verified3Average monitor screen size purchased increased to 27.3 inches in 2023 from 26.1 in 2022
Verified458% of remote workers demand USB-C connectivity in monitors per 2023 survey
Directional5Ultrawide monitors saw 22% adoption growth among professionals in 2023
Single source671% of buyers consider eye strain reduction features essential in 2023
Verified7Gaming monitor ownership among PC gamers reached 48% in 2023 global survey
Verified8Projected CAGR for OLED monitors is 45.2% from 2024-2030 to reach $2.1 billion
Verified935% of consumers willing to pay premium for sustainable materials in monitors 2023 poll
Directional10Average selling price of PC monitors fell to $185 in 2023 from $198 in 2022
Single source112024 monitor market forecast at 125.3 million units, up 3% from 2023
Verified12By 2028, Mini-LED expected to claim 15% of premium monitor market share
VerifiedConsumer Trends and Forecasts Interpretation
The monitor market is being pulled in two directions: on one side, consumers demand bigger, faster, kinder-to-eyes displays with perfect color and a USB-C umbilical cord, while on the other side they expect all this to magically cost less, proving we want premium everything at bargain-basement prices.
Market Share and Competition
1Dell held 18.2% market share in PC monitor shipments in 2023 with 22.1 million units
Verified2HP captured 16.5% of global monitor market in 2023, shipping 20.1 million units
Verified3Lenovo's monitor market share rose to 12.4% in 2023 from 10.8% in 2022
Verified4LG Electronics ranked 4th with 9.8% share in 2023 monitor shipments
Directional5Acer held 8.7% market share in gaming monitors specifically in 2023
Single source6ViewSonic occupied 6.3% of the global monitor market in 2023
Verified7ASUS gaming monitor share reached 14.2% in 2023, leading the segment
Verified8BenQ captured 5.1% share in professional monitors in 2023
Verified9Samsung monitors held 7.9% global share in 2023, down from 9.2% in 2022
Directional10Philips ranked 8th with 4.2% market share in PC monitors 2023
Single source11MSI's gaming monitor share grew to 11.5% in 2023
Verified12Top 5 vendors controlled 64.8% of monitor market in 2023
Verified13AOC/TPV Technology held 5.6% share, focusing on budget segments in 2023
VerifiedMarket Share and Competition Interpretation
While Dell and HP continue their neck-and-neck, titanic struggle for sheer volume dominance, the real knife fight is happening in the high-margin gaming and professional arenas where ASUS, Acer, and MSI are furiously battling for every pixel of market share, leaving the old guard scrambling to avoid becoming mere footnotes in a sea of screens.
Market Size and Growth
1In 2023, the global PC monitor market revenue reached $28.5 billion, marking a 2.1% year-over-year growth driven by demand for high-resolution displays
Verified2The monitor display market is projected to grow from $45.2 billion in 2024 to $68.7 billion by 2030 at a CAGR of 7.2%, fueled by gaming and professional sectors
Verified3US PC monitor market shipments declined 7.5% YoY to 17.2 million units in 2023 due to inventory adjustments
Verified4Global monitor panel shipments for Q4 2023 totaled 35.2 million units, up 1.8% QoQ but down 5.3% YoY
Directional5The commercial monitor segment accounted for 42% of global market revenue in 2023, valued at $12.3 billion
Single source6Gaming monitor market size was $14.8 billion in 2023, expected to reach $31.2 billion by 2030 at 11.2% CAGR
Verified7EMEA PC monitor market grew 4.5% YoY in 2023 to 28.1 million units shipped
Verified8Asia-Pacific dominates the monitor market with 52% share in 2023, valued at $15.4 billion
Verified9Curved monitor segment revenue hit $3.7 billion in 2023, up 15% YoY
Directional104K UHD monitor market valued at $8.2 billion in 2023, projected to $18.9 billion by 2031
Single sourceMarket Size and Growth Interpretation
The market’s vision is clearly sharpening: while it squints at a temporary inventory hangover in some regions, its eyes are firmly fixed on a high-resolution, gaming and professional-driven future where growth is projected to be nothing short of crystal clear.
Regional and Segment Breakdowns
1In 2023, North America PC monitor market share was 22.4% of global, shipments 27.3 million units
Verified2China's domestic monitor consumption hit 45.6 million units in 2023, 37% of global
Verified3Europe monitor shipments totaled 31.2 million in 2023, up 2.8% YoY led by Germany
Verified4Gaming segment represented 26.6% of total monitor shipments in 2023 globally
Directional5Business/Office monitors held 38% segment share in 2023 at 46.2 million units
Single source6Japan monitor market declined 6.2% to 8.9 million units in 2023
Verified7India monitor market grew 18% to 7.4 million units in 2023 driven by IT boom
Verified834-inch monitors gained 12% segment share in ultrawide category in 2023
Verified9Latin America shipments reached 9.1 million units in 2023, up 4.5% YoY
Directional10Middle East & Africa monitor market valued at $1.8 billion in 2023
Single source11Consumer segment down to 35.4% share in 2023 from 40% in 2022
Verified12Southeast Asia shipments hit 12.7 million units in 2023, led by Indonesia
VerifiedRegional and Segment Breakdowns Interpretation
While North America and Europe may bicker over market share, the real power struggle appears to be between China's 45.6 million units of domestic consumption and the global workforce’s absolute refusal to give up their business monitors, even as the gaming world steadily conquers a quarter of the screen.
Shipments and Production
1Global PC monitor shipments totaled 121.7 million units in 2023, down 1.7% YoY
Verified2Q1 2024 monitor panel shipments reached 31.8 million units, up 4.2% QoQ
Verified3China monitor panel production capacity hit 85% utilization in 2023, producing 112 million units
Verified4Gaming monitor shipments grew 8.3% YoY to 32.4 million units in 2023
Directional5LG Display shipped 18.5 million monitor panels in 2023, down 3% YoY
Single source6BOE Technology produced 25.2 million monitor panels in 2023, up 12% YoY
Verified727-inch monitor models accounted for 29% of total shipments at 35.3 million units in 2023
Verified8AUO shipped 14.7 million monitor panels in Q4 2023 alone
Verified9Innolux monitor panel output fell to 16.1 million units for full year 2023
Directional10Samsung Display's monitor panel shipments dropped 15% YoY to 9.8 million in 2023
Single source1124-inch panels dominated shipments with 42 million units in 2023
Verified12Professional monitor shipments reached 22.6 million units in 2023, up 5.1% YoY
Verified13Global monitor panel shipments for 2023 totaled 129.85 million, up 1.9% YoY
VerifiedShipments and Production Interpretation
The monitor market’s tale in 2023 was a tug-of-war, where a nearly flat overall demand masked a dramatic pivot, as gamers and professionals upgraded their screens while China’s factories hummed at full tilt, leaving some legacy panel makers struggling to keep their footing in a suddenly reshuffled landscape.
Technology and Innovation
1OLED monitor panels saw a 250% shipment increase in 2023 to 120,000 units
Verified2LCD panels held 92% of monitor panel market share in 2023, with IPS technology at 65% within LCD
Verified3Mini-LED monitor adoption rose to 2.5 million units shipped in 2023, up 180% YoY
Verified4QD-OLED panels for monitors reached 45,000 units in Q4 2023, led by Samsung Display
Directional5144Hz+ refresh rate monitors comprised 28% of gaming monitor shipments in 2023
Single source6Micro-LED prototypes for monitors demonstrated 3000 nits peak brightness in 2023 CES
Verified7VA panel technology captured 25% of monitor panel market in 2023 for better contrast ratios
Verified8HDR support in monitors reached 45% penetration in premium segments in 2023
Verified9Flexible OLED monitors entered pilot production in 2023 with 1.5% market share projection by 2025
Directional10USB-C with 90W power delivery became standard in 35% of business monitors in 2023
Single source11TN panels declined to 8% of total monitor shipments in 2023 from 12% in 2022
Verified128K monitor panels shipped 15,000 units in 2023, primarily for professional use
Verified13Eye Care features like low blue light certified in 52% of new monitors launched in 2023
VerifiedTechnology and Innovation Interpretation
The monitor market in 2023 was a wild display of progress, where OLEDs are finally escaping their prototype dungeon with gleeful abandon, premium LCDs are stubbornly holding the throne, gamers are chasing every last hertz, and everyone, from business users to our tired eyes, is getting a little something extra.
Sources & References
- Reference 1TRENDFORCEtrendforce.comVisit source
- Reference 2MARKETSANDMARKETSmarketsandmarkets.comVisit source
- Reference 3IDCidc.comVisit source
- Reference 4OLED-INFOoled-info.comVisit source
- Reference 5FORTUNEBUSINESSINSIGHTSfortunebusinessinsights.comVisit source
- Reference 6GRANDVIEWRESEARCHgrandviewresearch.comVisit source
- Reference 7CONTEXTWORLDcontextworld.comVisit source
- Reference 8MORDORINTELLIGENCEmordorintelligence.comVisit source
- Reference 9BUSINESSRESEARCHINSIGHTSbusinessresearchinsights.comVisit source
- Reference 10VERIFIEDMARKETRESEARCHverifiedmarketresearch.comVisit source
- Reference 11DISPLAYDAILYdisplaydaily.comVisit source
- Reference 12DSCXdscx.comVisit source
- Reference 13JONPEDDIEjonpeddie.comVisit source
- Reference 14DISPLAYSPECdisplayspec.comVisit source
- Reference 15STATISTAstatista.comVisit source
- Reference 16PRNEWSWIREprnewswire.comVisit source
- Reference 17DISPLAYSUPPLYCHAINdisplaysupplychain.comVisit source
- Reference 18TUVtuv.comVisit source
- Reference 19AUOauo.comVisit source
- Reference 20INNOLUXinnolux.comVisit source
- Reference 21NEWSnews.samsungdisplay.comVisit source
- Reference 22GARTNERgartner.comVisit source
- Reference 23BUSINESSWIREbusinesswire.comVisit source
- Reference 24DISPLAYNINJAdisplayninja.comVisit source
- Reference 25PCMAGpcmag.comVisit source