Persistent demand powered by the impact of COVID-19 drove the global PC monitor market up 8.3 percent in 2020. This trend is set to continue with another 8.7 percent rise in 2021, according to IDC.
High volume was experienced in Q4, fuelled by strong demand due to working and learning from home requirements coupled with display panel component shortages that further expanded shipments.
Although some geographies have seen life move closer to pre-pandemic levels, ongoing restrictions of varying degrees continued to help funnel consumer budgets to furnish their homes for work or entertainment, even as low office occupancy inhibited commercial monitor spending.
At the same time, a shortage of components like display driver integrated circuits (ICs) and rising shipping costs also contributed to shipment growth as some manufacturers opted to amass stock ahead of component price hikes that could last through the middle of 2021.
“Many of the same trends from earlier in the year continued in the holiday quarter. Amid the surging demand, production has had issues so some markets remain short of stock and we can expect more fulfillments for back orders through much of this year. Beyond 2021, we believe the market will settle into a faster replacement cycle that is based on a higher attach rate to notebooks and a more active usage model inside the home,” said Jay Chou, Research Manager for IDC’s Quarterly PC Monitor Tracker..