PC Monitor Shipments Hit Record Low in Q4 2022, But Recovery Expected in 2024, According to IDC Tracker
Along with the struggling PC market, PC monitor shipments contracted 18.3% year over year in the fourth quarter of 2022 (4Q22) leading to an annual decline of 5.9% for the full year 2022, according to the International Data Corporation (IDC) Worldwide Quarterly PC Monitor Tracker. At just over 30.5 million units, the 4Q22 results marked the lowest fourth quarter volume since IDC began tracking the market in 2008. However, the setback was expected due to the challenging macro environment, which hit both consumer and commercial demand, and the results hewed close to the forecast of a 16.2% decline in fourth quarter shipments.
After an unprecedented expansion during earlier periods of the pandemic, driven by work from home and gaming needs, consumer monitor demand began to slow. Commercial monitor purchases also were affected as economic sentiments deteriorated in the latter part of 2022.
A graphic illustrating the worldwide market share of the top 5 PC monitor companies over the previous five quarters is available by viewing this press release on IDC.com.
As a result of worsened economic conditions, IDC expects 2023 shipments to contract another 9.8% as lingering inventory and tepid demand weigh on the market. 2024 should see a slight recovery that will lift shipment volumes above pre-pandemic levels as inventory improves. Beyond 2024, IDC expects further stabilization based on the larger installed base that was created by hybrid work and the growth in gaming monitors.
"Monitors will remain an afterthought for many buyers in the short term," said Ja Chou, research manager for IDC's Worldwide Client Device Trackers. "Annual volume had averaged about 125 million before COVID-19, then shot up to over 135 million for each of the past three years. It will take a while for the dust to settle. Consumer and businesses are recalibrating their priorities, but we remain confident that much of the recently expanded installed base will be enticed to upgrade in the coming years."
A graphic illustrating IDC's worldwide PC monitor forecast for 2021-2027 is available by viewing this press release on IDC.com.
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.
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