Monitor Global Market Report 2024

The monitor market size has grown steadily in recent years. It will grow from $59.82 billion in 2023 to $61.73 billion in 2024 at a compound annual growth rate (CAGR) of 3.2%. The growth observed during the historic period can be credited to several factors, including the widespread computing and digitalization boom, expansions in office and business domains, evolving trends in entertainment consumption, advancements in education and the evolution of e-learning platforms, as well as the surge in multimedia content creation.


The monitor market size is expected to see steady growth in the next few years. It will grow to $69.38 billion in 2028 at a compound annual growth rate (CAGR) of 3.0%. The growth experienced in the historical period can be attributed to various factors. These include the widespread surge in computing and digitalization, expansions within office and business sectors, evolving patterns in entertainment consumption, advancements in education along with the evolution of e-learning platforms, and a notable rise in multimedia content creation.


The anticipated growth of the monitor market in the forecast period is expected to be fueled by the increasing internet penetration. The rising reliance on the internet for work, education, and entertainment has created a growing demand for larger and higher-quality monitors. As an illustration, a July 2023 report from Statistics Canada, based on the Canadian Internet Use Survey 2022, indicates that internet usage among Canadians aged 15 and older increased from 92% in 2020 to 95% in 2022. Notably, individuals aged 75 and older experienced the most significant increase, rising from 62% in 2020 to 72% in 2022. Consequently, the expanding internet penetration is a key driver for the growth of the monitor market.

The burgeoning realm of Esports is set to propel the monitor market forward. Esports, a competitive video gaming sector, is witnessing remarkable growth, with players and teams engaging in professional leagues and tournaments for substantial prizes and recognition. Projections from Demand Sage in March 2023 estimate the global esports industry's value at $1.44 billion, with an expected surge to $5.48 billion by 2029. Monitors play a crucial role in displaying game content during competitive matches, making the rise of Esports a key driver for the monitor market.

The escalating demand for smartphones poses a challenge to the monitor market's growth. Smartphones have evolved into primary computing devices, surpassing laptops in efficiency, and consumers tend to upgrade their smartphones more frequently than their laptops. Samsung-commissioned research indicates a projected 9% annual increase in smartphone numbers, reaching 7.2 billion by 2023. This increasing preference for smartphones acts as a constraint on the growth trajectory of the monitor market.

Leading players in the monitor market are introducing cutting-edge technologies to address the limitations of traditional monitors and expand their global market presence. Notably, major companies are introducing 4K monitors equipped with IPS Black technology, an advanced form of In-plane switching (IPS) panels known for its improved color and contrast capabilities. Dell, a prominent US-based technology company, launched the 27" U2723QE and 31.5" U3223QE 4K monitors in April 2022, featuring IPS Black technology. This innovation aims to mitigate the well-known issues associated with traditional IPS panels, such as IPS glow, by offering enhanced dark tones, better contrast, and deeper blacks, thereby rivaling the superior black quality associated with OLED technology.

Major companies in the monitor market are focusing on enhancing the gaming experience by introducing innovative gaming monitors. Samsung, a key player, unveiled the Odyssey Neo G9 57", the world's first Dual Ultra-High-Definition (DUHD) gaming monitor, at Gamescom 2023 in August 2023. This groundbreaking gaming monitor utilizes DisplayPort 2.1, enabling a remarkable 240Hz refresh rate at DUHD resolution. The inclusion of HDMI 2.1 and a USB hub further enhances device connectivity. The DUHD Resolution ensures superior visual quality for immersive gaming, while Quantum Matrix Technology, powered by Samsung’s Quantum Mini LED lighting, delivers sharper contrasts and minimizes blooming effects. This strategic focus on technological advancements underscores major companies' commitment to providing state-of-the-art monitors that cater to both general and gaming users.

In June 2021, HP, a leading US-based information technology company, successfully completed the acquisition of HyperX for a total consideration of $0.42 billion. This strategic move is aligned with HP's objective to strengthen its footprint in the gaming market, with a potential integration of HyperX into its renowned OMEN series of gaming desktops and laptops. HyperX, the gaming subsidiary of Kingston Technology and a prominent gaming brand based in the United States, specializes in providing a range of accessories for console players, including headsets, monitors, keyboards, charging solutions, and mousepads.

Major companies operating in the monitor market report are Apple Inc., Samsung Electronics Co. Ltd., Microsoft Corporation, Siemens AG, HP Inc., Lenovo Group Limited, LG Electronics Inc., ASUSTeK Computer Inc., TPV Technology Limited, Acer Inc., Qisda Corporation, Rockwell Automation Inc., Micro-Star International Co. Ltd. (MSI), ADLINK Technology Inc., Advantech Co. Ltd., Kontron S&T AG, Hannspree Taiwan Limited, Eizo Corporation, ViewSonic Corporation Inc., BenQ Corporation, Sparton Corporation, Tatung Company, NEC Display Solutions Ltd., Planar Systems Inc., Alienware Corporation, Dell Technologies Inc., Iiyama Corporation, AOC International (Europe) B.V., Gechic Technology Corporation, Chuntex Electronics Co. Ltd., Hewlett-Packard Development Company L.P., Intelligent Imaging Innovations Inc., Hope Industrial System Co. Ltd., Pepperl+Fuchs GmbH, AAEON Technology Inc., Axiomtek Co. Ltd., National Instruments Corporation, Barco NV, Christie Digital Systems USA Inc., Leyard Optoelectronic Co. Ltd. The Asia-Pacific was the largest region in the monitor market in 2023. North America is expected to be the fastest-growing region in the global monitor market report during the forecast period. The regions covered in the monitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary types of monitors include cathode-ray tube (CRT), liquid crystal display (LCD), and light-emitting diode (LED). A cathode-ray tube (CRT) operates as a specialized vacuum tube, generating a visible image by directing an electron beam onto a phosphorescent surface. Monitors offer various resolutions such as 1366x768, 1920x1080, 1536x864, 1280x720, 1440x900, and others, catering to applications in gaming, business/commercial, and personal use.

The monitor market research report is one of a series of new reports that provides monitor market statistics, including monitor industry global market size, regional shares, competitors with a monitor market share, detailed monitor market segments, market trends, and opportunities, and any further data you may need to thrive in the monitor industry. This monitor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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

The monitor market consists of sales of monitors, which are electronic output devices that use a screen to display information in pictorial form. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.