According to International Data Corporation (IDC), in the fourth quarter of 2022, shipments of PC monitors decreased by 18.3% compared to the same period of the previous year, and the decrease in shipments for the whole of 2022 was 5.9%. In the last quarter of last year, just over 30.5 million monitors were sold, which is the lowest figure for the fourth quarter since 2008.
Image Source: International Data Corporation
The decline was expected due to the difficult macroeconomic situation and exceeded the preliminary forecast by 2.1%. After an unprecedented increase in sales at the beginning of the pandemic, driven by the shift of work and entertainment to users’ homes, demand for consumer monitors began to slow last year. Shipments of commercial monitors also declined due to the negative economic outlook in the second half of 2022.
Shipments in 2023 are expected to fall another 9.8% year-on-year due to high inventory and weak demand. A slight recovery in the monitor market is expected in 2024, which will lift shipments above pre-pandemic levels as inventory levels decrease. After 2024, further stabilization is predicted due to the transition of many companies to a hybrid mode of operation and an increase in sales of gaming monitors.
“In the short term, monitors will remain an afterthought for many buyers,” said Jay Chou, head of research at IDC. “Annual sales averaged around 125 million before COVID-19 and then jumped to over 135 million over the past three years. Consumers and businesses are re-evaluating their priorities, but we remain confident that the majority of customers will upgrade their monitors in the coming years.”
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