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Global Monitor Market Set for Recovery in 2024, with Shipments Projected to Increase by 2%,
February 6, 2024 | TrendForceEstimated reading time: 1 minute
TrendForce’s latest findings reveal global monitor shipments declined 7.3% in 2023 down to 125 million units—a figure below pre-pandemic levels. Looking ahead to 2024, given the low shipment base in 2023, alongside the potential for a gradual economic recovery and the typical 4 to 5-year PC replacement cycle, PCs purchased during the pandemic are expected to be upgraded between the second half of 2024 and 2025. This is anticipated to drive a 2% increase in global monitor shipments in 2024, reaching approximately 128 million units.
The top three commercial monitor brands experienced over twenty percent decline in shipments
A surge in unfulfilled business orders in Europe and America in the first half of 2022 elevated the shipment baseline for commercial brands that year. However, by 2023, commercial market demand saw a significant contraction, leading to a YoY shipment decrease of 20.4% for Dell, 20.7% for HP, and 21.4% for Lenovo—each dropping by over twenty percent.
In contrast, some consumer brands defied the trend and saw growth in their 2023 shipments. Notably, AOC/Philips benefited from strong demand in China’s gaming market, recording an 8.8% increase in shipments. Acer strategically upgraded its 60/75Hz products to 100Hz with a minimal price difference, resulting in a 6.7% boost in shipment volume.
2024 shipment targets remain conservative while Lenovo stands out with ambitious goals
TrendForce notes that shipment targets among commercial and consumer monitor brands are conservative. However, Lenovo has set out ambitious targets, aiming to grow their annual shipment levels by around 20%; consumer brands AOC/Philips, MSI, ASUS, and Acer have set their annual shipment growth targets at over 10%. Conversely, Samsung Electronics, LG Electronics, and BenQ have established more conservative shipment goals for 2024, focusing on profitability and high-end product lines.
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