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What just happened? Following declining shipments over the past couple of years, the global PC monitor market has staged an impressive recovery, according to new data from the International Data Corporation. The market research firm’s latest figures revealed 5.9% year-over-year growth in unit shipments during Q2 2024, marking the third consecutive quarter of positive annual growth.

The report attributes the stronger-than-anticipated performance to several key factors during the April to June quarter. Inventory restocking, particularly on the consumer side, provided an initial boost as vendors looked to refill pipelines. Vendors also moved to pull in orders earlier than normal in anticipation of panel cost increases that took effect beginning in April.

Another major driver was the industry-wide transition from 60Hz refresh rate panels to 100Hz as costs for the faster panels reached parity. With little premium attached, monitor makers aggressively revamped models to take advantage of the newer, higher refresh rate displays.

Growth in the consumer and gaming segments acted as a catalyst as well, the report notes. Intense competition and continued expansion in these markets, especially for gaming monitors, helped propel overall shipment volumes higher.

PC monitor sales see surprising rebound as industry transitions from 60Hz to 100Hz

Looking ahead, IDC expects this positive trajectory to continue, forecasting over 2% annual growth for both 2024 and 2025. A few factors are fueling this optimistic outlook beyond just pent-up demand. With panel and component costs stabilizing, monitor pricing should remain attractive for buyers.

The ongoing migration to Windows 11 PCs is also expected to boost upgrade cycles over the next couple of years. IDC’s report for the last quarter stated that the hype around AI PCs had also given the market a much-needed push.

However, the rebound is not being felt equally across all sectors and regions. On the commercial side, IDC has lowered its 2024 growth forecast to 2.8% from 3.1%.

Regionally, all major markets except China and Canada exceeded IDC’s projections in Q2 2024. Gaming remained the standout category, comprising a record 20% share of total monitor shipments in the quarter as declining prices and a pause in gaming PC sales allowed users to invest in display upgrades.

IDC anticipates this recovery to continue through 2025, with the consumer space leading the charge. Unsurprisingly, the company also expects improving office occupancy rates to provide a modest boost on the commercial front. Recently, Amazon did away with work-from-home arrangements completely following a long period of crackdowns – a move that represents an industry-wide trend.

Beyond 2025, IDC forecasts the market stabilizing in the 132 to 135 million unit range annually.

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