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Monitor Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Monitor Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071805
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

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., and Qisda Corporation (Formerly BenQ Corporation).

The global monitor market is expected to grow from $183.39 billion in 2020 to $197.49 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. 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 $221.74 billion in 2025 at a CAGR of 2.9%.

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.

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.

The monitor market covered in this report is segmented by type into cathode-ray tube (CRT); liquid crystal display (LCD); light-emitting diode (LED) and by application into gaming; business/commercial; personal.

In June 2018, Sharp Corporation, a Japan-based company that designs and manufactures electronic products acquired Toshiba for an undisclosed amount. The acquisition, which involves the transfer of 80.1% of outstanding shares from Toshiba to Sharp, not only allows Sharp access to the PC market but under the umbrella of Foxconn, the company can also be able to manufacture devices more cheaply. Toshiba, a Japanese multinational engineering and electronics conglomerate corporation.

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, an approximate 4.3 billion smartphones were in use worldwide by the end of 2017 (three times the number of laptops) and the people using smartphones is projected to continue 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.

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