The global PC monitor market has registered a 5.9% year-over-year (YoY) growth in unit shipments for the second quarter of 2024, according to the latest data from IDC. This marks the third consecutive quarter of growth, signaling a rebound after the market’s decline throughout 2022 and 2023.
Key drivers of this growth include inventory restocking on the consumer side, efforts by manufacturers to preempt anticipated cost hikes stemming from rising panel prices, and an industry-wide shift toward faster panel refresh rates. With 60 Hz panels becoming less dominant, vendors are increasingly transitioning to 100 Hz models as costs for the higher-speed technology have reached parity. Additionally, increased competition in the consumer and gaming segments played a significant role in the market’s stronger-than-expected performance.
IDC also noted that gaming monitors, in particular, accounted for 20% of total shipments, the highest share since the firm began tracking this segment in 2016. Falling prices and reduced spending on gaming PCs allowed consumers to invest more in monitors, further boosting the segment’s growth.
Despite commercial monitor sales slowing during the quarter, the overall market outlook remains optimistic. Stabilizing costs of panels and components, coupled with the ongoing migration to Windows 11 PCs, are expected to sustain growth through 2025. IDC projects a disciplined recovery, forecasting a 4% increase in total monitor shipments for 2024 and a 2.3% rise in 2025.
Looking beyond 2025, IDC expects the market to stabilize, with annual shipment volumes hovering between 132 to 135 million units. The consumer side, bolstered by innovations in gaming and larger screens, is expected to remain a strong contributor to the overall market performance, while commercial spending on monitors will see slower growth due to more modest office equipment investments.
