LONDON, May 8, 2024
/PRNewswire/ -- OLED monitor display shipments significantly
increased in 2023, following an upsurge of 415% year-over-year
(YoY), according to Omdia's Monitor Display & OEM Market
Tracker. This trend is set to continue with Omdia forecasting a
123% YoY increase in 2024, reaching 1.84 million units, driven by
industry leaders Samsung Display and LG Display.
"OLED monitors are mostly used for gaming and have gained
further traction following the inclusion of esports in the
competition for the first time at the 2023 Asian Games in
Hangzhou, China. This move marks
the transformation of esports projects from a grassroots event to a
recognized, official sporting event," says Nick Jiang, Principal Analyst in Omdia's
Displays research practice.
Additionally, the COVID-19 pandemic has impacted consumer
behavior, leading to trends such as multiscreen interactions
between laptops and monitors, and growing consumer demand for
higher monitor specifications, including high resolution and
refresh rates. Considering the product management cycle and the
three-year after-sales service time for monitor products, Omdia
expects the replacement cycle to gradually occur from 2024.
The market downturn in 2022 and 2023 posed significant
challenges for monitor supply chain participants. Monitor brands
have been committed to reducing inventory through various supply
chain operations; the industry is currently entering a recovery
period . After reaching a two-year low, the overall monitor market
is expected to recover slowly in 2024, encompassing both commercial
and consumer markets. This also presents certain market development
opportunities for the expansion of OLED monitor products.
As consumer demand for better monitor specifications and the
trend towards larger monitor sizes continue, there is an
anticipated increase in LCD monitor panel prices. This will reduce
the price difference between LCD and OLED monitors, indirectly
making OLED technology more accessible. In addition, top tier
monitor brands such as Dell, HP, Lenovo, Samsung, LG Electronics,
AOC/Philips, Asus, Acer, MSI and Gigabyte are incorporating more
and more OLED displays into their product lineups for 2024. From a
supply chain perspective, this trend helps reduce costs for both
OEM and panel companies. The increase in OLED monitor displays from
panel companies can be evenly distributed to the cost of panels,
resulting in a decrease. For OLED monitor OEM companies, production
costs can be reduced as multiple OLED monitor branded customers
share the cost of tooling.
ABOUT OMDIA:
Omdia, part of Informa Tech, is a technology research and
advisory group. Our deep knowledge of tech markets combined with
our actionable insights empower organizations to make smart growth
decisions.
Fasiha Khan
Fasiha.khan@omdia.com
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SOURCE Omdia