North America Computer Monitor Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

North America Computer Monitor Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The North America Computer Monitor Market is expected to grow by registering a CAGR of 4.5% during the forecast period (2022 - 2027). Apart from the increasing contribution of the ICT sector, the gaming industry is significantly driving the demand for computer monitors in the North American region.

• As computers have been on the frontlines of the technological advancements propelling robust growth of the digital economy and advanced technologies, the demand has witnessed an upward trend. For instance, in its federal budget in April 2021, the Canadian government announced that it would give USD 185 million to support the commercialization of AI research.
• Being a developed region, North America is known to have a higher penetration of digital technologies. For instance, according to UNCTAD digital economy report 2021, United States and China stand out as the front runners in harnessing digital technologies. Together, these countries account for about 50% of the world’s hyper-scale data centers, the highest rates of 5G adoption in the world, 94 percent of all funding of AI start-ups in the past five years, and almost 90 percent of the market capitalization of the world’s largest digital platforms.
• Furthermore, the gaming industry of the North American region is also among the largest. Hence, the industry significantly impacted the demand for computer monitors in the region. Considering such trends, the vendors are increasingly offering monitors that are gaming friendly. For instance, in March 2022, ViewSonic launched its new VX1755 monitor.
• However, the increasing popularity of mobile devices that are becoming more powerful and performance intensive day by day is expected to challenge the growth of the studied market.
• The global outbreak of COVID-19 has significantly impacted the growth of the studied market. Although the demand for computer monitors increased due to shifting toward remote working culture, disruptions in the supply chain significantly impacted the supply. However, with the condition progressing normally, the market is expected to register growth during the forecast period.

• The gaming industry in the North American region has witnessed remarkable growth, especially in United States. For instance, according to American Gaming Association's (AGA) Commercial Gaming Revenue Tracker, nationwide commercial gaming revenue in the country amounted to USD 14.31 billion in Q1 2022.
• As games heavy on graphics are increasingly becoming popular, vendors operating in the market are frequently launching new innovative products to fulfill the growing demand. For instance, in March 2022, Dell announced the availability of new G-series monitors in the US and Canada. According to the company, the new G3223Q is the upgraded version of the G2722HS model and includes 32-inch and 4K/UHD displays. The latest launch also offers DisplayPort 1.4, dual HDMI 2.1 ports, and "SuperSpeed" USB type-A connectivity.
• As the gamers often prefer to purchase monitors that are frame syncing enabled, the development of frame syncing technologies such as V-Sync, G-Sync, and Freesync help monitors synchronize the frame of games with the monitor refresh rate for better performance and stability and help prevent issue associated with monitors such as screen tearing, has been gaining traction in recent years.

• United States is the biggest market in the North American region owing to the large consumer base and the presence of several commercial and industrial establishments in the country, which is driving the demand for both gaming and consumer monitors.
• For instance, according to Computing Technology Industry Association (CompTIA), United States is the largest tech market in the world and is expected to reach approximately USD 1.8 trillion by 2022.
• Furthermore, with the rise in demand for information and communication technologies (ICT) in response to the pandemic’s disruption of in-person work and life, the ICT industry in United States has emerged as the highest receiver of FDIs. For instance, according to ITIF, inward FDI of United States increased by more than 114 percent in a single year, reporting USD 323 billion in 2021.
• Besides this, United States is also among the largest PC gaming markets, further supporting the growth of the studied market. Some of the most popular games in the country include Fifa, COD, Minecraft, Counter-Strike, etc.

The North America Computer Monitor Market is competitive due to several established local and global vendors. The vendors operating in the market are adopting organic and inorganic growth strategies to further strengthen their market presence. Some major players operating in the market include HP Inc, Dell Technologies Inc, Samsung Group, and Apple Inc.

• March 2022 - Apple Inc. introduced Mac Studio and Studio Display, an entirely new Mac desktop and display. Mac Studio is powered by M1 Max and the new M1 Ultra chip. The Studio Display features a 27-inch 5K Retina display, a 12MP Ultra-Wide camera with Center Stage, and a high-fidelity six-speaker sound system with spatial audio.
• March 2022 - Samsung Electronics America., Inc. announced an upgrade to its innovative Smart Monitor line with the all-new M8 series that enables users to enjoy a smart TV experience, seamless workspace connectivity, and video chat functionality on a single screen.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support