Research Support Specialist, USA
The global PC monitors and projectors market size is expected to reach USD 28.5 billion by 2028, registering a CAGR of -0.96% over the forecast period, according to a new report by Million Insights. The declining sales can be credited to growing demand for laptops and smart phones in developed and developing economies.
The growing availability of advanced projector solutions with connectivity features and improved image quality may show some positive impact on the market over the forecast period. Additionally, increase in digitization has generated a strong demand for PC monitors and projectors amongst commercial and educational institutions. Also, online education plays a significant role in education institutions. Furthermore, emerging economies are taking numerous initiatives to implement digitization in country. Also, manufacturers are financing comprehensively in research and development initiatives to develop better products.
The market is also expected to advantage significantly from the augmented usage of projectors in the gaming industry. Also, market players are compelling numerous strategic initiatives to increase their consumer base and infiltrate the market deeper, particularly in the developing regions. Furthermore, governments are taking initiatives and reforms in energy efficient consumer electronics sector which have led to the noteworthy impact on the market.
The PC monitors type segment accounted for the largest revenue share of more than 85% in 2020. This growth is credited to the increasing demand for these products. PC monitors have advanced display screen resolution features, so they are majorly adopted in gaming application. They offer better experiences for graphical applications, office documents, and movie watching.
The online segment is expected to register the fastest CAGR from 2021 to 2028. This can be attributed to the usage and growing popularity of e-commerce platforms. Major manufacturers are partnering with online retailers intending to reach out to new buyers. Also, an increase in sales of PC monitors and projectors mainly through company-owned websites and other e-commerce platforms such as Amazon, Walmart, etc., is further projected to drive the growth of the online distribution channel segment in the coming years.
Asia Pacific led the global market in 2020 and accounted for the largest revenue share of more than 35.0%. This can be credited to the growing demand for PC monitors from developing countries, such as China, and Japan for gaming application. The increasing e-learning methods and work from home employment coupled with rising disposable income and middle-class population are chief factors propelling the demand for PC monitors and projectors. Many Chinese companies have entered the market with a partnership with e-commerce platforms to offer products at competitive pricing. This, in turn, is expected to drive the market in the region over the forecast period.
The report “PC Monitors And Projectors Market Size, Share & Trends Analysis Report By Type (PC Monitors, Projectors), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global PC monitors & projectors market on the basis of type, distribution channel, and region: