Monitor Global Market Report 2022

Monitor Global Market Report 2022

  • March 2022 •
  • 175 pages •
  • Report ID: 6246436 •
  • Format: PDF
Major players in the monitor market are Dell Technologies Inc., HP Inc., TPV Technology Limited, Lenovo Group Limited, Samsung Group, LG Electronics Inc., Apple Inc., Acer Inc., AsusTek Computer Inc., BenQ Corporation, ViewSonic Corporation Inc., AOC International, NEC Display Solutions, Microsoft, Alienware, MSI, Chuntex Electronics Co. Ltd., Eizo Corporation, Gechic Corporation, Hannspree Europe Holdings B.V., iiyama Corporation, Planar Systems Inc., Qisda Corporation and Tatung Company.

The global monitor market is expected to grow from $37.81 billion in 2021 to $41.40 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $57.14 billion in 2026 at a CAGR of 8.4%.

The monitor market consists of sales of monitors by entities (organizations, sole traders and partnerships) that provide monitors, which are electronic output devices that use a screen to display information in pictorial form. Only goods and services traded between entities or sold to end consumers are included.

The main types of monitor are cathode-ray tube (CRT), liquid crystal display (LCD) and light-emitting diode (LED).A cathode-ray tube (CRT) is a specialized vacuum tube creates a visible image when an electron beam strikes a phosphorescent surface.

The resolution provided by monitors are 1366*768, 1920* 1080, 1536*864, 1280*720, 1440*900, others and are used in gaming, business/commercial and personal applications.

The regions covered in the monitor market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing internet penetration is expected to fuel the growth of the monitors market in the forecast period. Globally, according to Internet World Stats, around 4.83 billion people are using the internet, as of June 2020, which is about 62% of the world’s overall population. The number of internet users is increasing by more than 6% annually. From June 2019 to June 2020, over 295 million new users arrived online, leading to average growth of around 800,000 new users per day. Globally, more than three-quarters of the world’s larger economies of internet users go online via desktops and laptops. Therefore, the growing internet penetration drives the growth of the monitor market.

The increasing demand for smartphones is expected to hamper the growth of the monitor market in the forecast period.Smartphones can now be the main computing devices and the efficiency disparity between laptops and smartphones continues to grow as consumers update their smartphones more quickly than their laptop computers.

Latest smartphones even perform better than laptops now. According to a research commissioned by Samsung, the number of smartphones is projected to rise by 9% each year and reach 7.2 billion by 2023. Therefore, the increasing demand for smartphones restraints the growth of the monitor market.

Advanced technologies are gaining popularity in the monitors market.Major companies operating in the monitors market are concentrating on creating creative technological solutions for monitors.

For Instance, in January 2020, Acer, a Taiwan based hardware and Electronics Corporation launched CG552 K, a 55-inch, 4 K OLED gaming monitor that supports NVIDIA G-sync, 120Hz adaptive sync athletics. The Acer monitor is fitted with sensors that change brightness automatically according to the light level of the room and switch it off when no one is around.

In November 2020, Sharp Corporation, a Japan based company that designs and manufactures electronic products acquired NEC Display Solutions, for an undisclosed amount.Under this deal, Sharp has acquired 66% of shares of NEC subsidiary, NEC Display Solutions Ltd (NDS) and aims its focus on the business-to-business display market, producing and developing a range of visual display solutions for a variety of markets and applications.

NEC Display Solutions Ltd (NDS), a subsidiary of NEC Corporation is a Japan-based information technology and electronics corporation offering products such as monitors, projectors and others.

The countries covered in the monitor market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.