Market Trends of Computer Monitor Industry
Gaming to Witness the Fastest Market Growth
- The demand for a variety of hardware, including the monitors used in gaming consoles and personal computers, has been increasing due to growth in the gaming sector. To make graphics cards and CPU outputs look as good as possible when playing, monitors used in gaming are intended for this purpose. Refresh rate up to 120 Hz, response time of at least 3 ms, and a high dynamic range feature are some key characteristics requested by monitors for enhanced viewing experience.
- Better, smoother image production is made possible by superior graphics cards for gaming laptops and desktops. For the players, that's, of course, a very big deal. For instance, in May 2023, Nvidia announced the introduction of the GeForce RTX4060 family of GPUs to deliver PC gamers both great performance and great value at 1080p. This is expected to impact the demand for gaming monitors that support graphics.
- With growing technological adoption, China is one of the most important countries in the Asia Pacific region. The nation is home to one of the fastest internet bands and strong players like Tencent and NetEase. One of the main drivers of gaming is the country's growing exports and continuous innovation in the area of new games and consoles.
- With the advent of competitive gaming platforms, e.g. e., sports, which are now considered to be a billion-dollar industry, and the popularity of games such as Overwatch, CounterStrike, Fortnite, and PUBG, The gaming sector's popularity is growing. This is increasing the demand and growth of the market since screens can achieve refresh rates as high as 240Hz so that they are able to cope with rapid player movements. Furthermore, several leading players are focusing on developing and launching technologically advanced gaming monitors to gain a competitive advantage in the market. For instance, in June 2022, Sony Electronics Inc. announced to launch of INZONE, a new gaming gear brand to maximize performance and ability with upgraded gaming monitors and headsets. The new INZONE M9 gaming display with HDR provides 4K resolution and high contrast with a Full Array of Local Dimming for gamers seeking an immersive experience when playing games with brightness and deep blacks.
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Asia-Pacific to Witness the Fastest Market Growth
- As most computer components and parts are produced in Southeast Asia, including countries such as China, Taiwan, or Malaysia, it is estimated that the Asia-Pacific region will likely have a major market share. These countries are well known for large scale. It's mass production of parts and cheap labor to assemble them.
- With the aim of transforming it into an outsourcing hub, China is looking forward to developing its information technology sector. As households for significant outsourcing firms, the Chinese government has selected 20 cities, including China's Hangzhou, Dalian, Shenzhen, and Wuxi. In China, the top monitor vendor firms like Apple and Samsung have factories capable of producing more than half their products sold worldwide.
- In order to create JPY 285 billion (USD 1.9 billion) in economic benefits every year by 2025, the government of Japan is planning to deepen the sports industry with the private sector so that it can help revive local economies and make people with disabilities more involved in society. Because of the increasing interest in esports, fans might be encouraged to imitate professional players who have good-quality equipment and improve their game skills. The players can easily access information and respond quickly on screens with high refresh rates.
- Video game releases are also driving the demand for premium monitors. For instance, in February 2023, Konka Group Co., Ltd. announced to launch of MOVEVISION, its latest 27-inch cordless smart monitor in Japan. MOVEVISION is equipped with an Android 11 operating system and backs music and video streaming applications that can be freely obtained from the Google Play store. It can also be used for business presentations and videoconferencing and turn any meeting room into a productive and inclusive collaboration workplace.
- In addition, the growth of the market over the forecast period is expected to be supported by a growing number of new products launched by major companies. For instance, the new 4K gaming display was launched in India by BenQ, one of the world's leading manufacturers of video game displays and computer accessories, in February 2022. Once linked to a computer, the monitor sports a 32-inch 4K Ultra-HD (3,8402,160 pixels) IPS LCD screen with a 1ms MRPT reaction time (2ms GtG) and a refreshing rate of up to 144Hz.
- Similarly, in December 2022, OnePlus announced the introduction of two computer monitors, the E24 and X27 series, in India. OnePlus X27 is a premium gaming monitor with a 27-inch screen, and the E24 series will be a mid-range computing screen for students and adults for regular usage. Through this introduction, the company aims to develop better consumer relationships and strengthen its customer base.
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