Gaming Monitor Market Outlook
The Global Gaming Monitor Market size was valued at USD 1,659.9 Million in 2019 and is projected to reach USD 11,884.2 Million by 2027, expanding at a CAGR of 26.1% during the forecast period. Gaming monitor refers to a computer monitor designed for use in computer gaming.
Fast refresh rates, quick response time, sharp moving images, and sync enhancements set gaming monitors distant from regular monitors. The gaming monitor market is projected to grow significantly during the forecast period, owing to rising interest in online gaming tournaments, growing internet penetration, technological advancements, and increasing demand for e-sports among millennials.
Gaming Monitor Market Dynamics
Online gaming is rapidly gaining popularity, due to growing availability of the internet. The technological potential of online gaming is infinite and the number of players continue to grow. The outbreak of COVID-19 increased the number of users and time spent on every online gaming platform. Rising number of gaming enthusiasts and integration of advanced features by market players in gaming monitors are expected to drive the market.
For example, the number of video gamers reached nearly 1.5 billion in Asia Pacific and the number of online console gamers reached nearly 57.4 million in the US. Additionally, lucrative growth of online gaming competitions and rising interest in online gaming tournaments is expected to fuel the market over the forecast period.
Gaming monitors with immersive and true-to-life experience have high investment costs, which is estimated to hamper the growth of the market over the forecast period. If the online gamers are just starting out and have tight budget constraints, then installing gaming monitors becomes expensive. The cost of a high-performance gaming monitor goes as high as USD 3000 and more.
Gaming monitors are available at comparatively low rates ranging from USD 100 to USD 300; however consumers are not satisfied, as the refresh rates are slow, response time is long, and resolution is low. The cost increases, as the variety of technological features and graphics increase. High prices of gaming monitors are estimated to act as a restraint in the market. Global players are investing in arranging tournaments, online gaming competitions, championships, and leagues, which are supported by sponsorships, rewards, and prizes up to six figures.
Call of Duty Championship, Counter-Strike: Global Offensive Major Championships, eSports World Convention, Evolution Championship Series, FIFA eWorld Cup, Fortnite World Cup, Dreamhack, Intel Extreme Masters, League of Legends World Championships, and Overwatch League Grand Finals are various online gaming championships that offer a prize pool of nearly $3.5- $10 million and gather a large number of audience and record hitting views during the broadcast.
Recently, gaming stimulators are getting a lot of traction owing to their wide use of stimulators in rapidly growing gaming communities across the globe, especially in emerging economies such as India and China. The rapidly growing online gaming ecosystem is expected to develop tremendous opportunities for the online gaming monitor market.
Gaming Monitor Market Segment Insights
Panel Types Segment Analysis
In terms of panel types, the gaming monitor market is segmented as IPS panel, TN panel, and VA panel. The TN panel segment is anticipated to hold a significant share of the market, owing to the benefits offered such as fast response time, low refresh rates, minimal motion blur, and low input lag.
The TN panel segment is anticipated to expand at a considerable CAGR during the forecast period, owing to high power consumption efficiency. The IPS panel segment held a substantial share of the market in 2019, owing to numerous advantages offered, including optimum viewing angles and color contrast.
Price Range Segment Analysis
On the basis of the price range, the global gaming monitor market is categorized into USD 900-1500 and above USD 1500 segments. The USD 900-1500 segment accounted for a significant gaming monitor market share in 2019.
The USD 900-1500 segment is expected to expand during the forecast period, owing to increasing spending on leisure products by millennials. The above USD 1500 segment is projected to account for a considerable share of the market during the forecast period, due to growing advancements in the market to meet changing customer demand.
Screen Size Segment Analysis
Based on screen size, the gaming monitor market is segmented into less than 27 inches, 27-32 inches, and more than 32 inches. The less than 27 inches segment is anticipated to hold a significant share of the market in 2019.
Advantages offered by small gaming models such as high refresh rates and response rates fuel the segment. Less than 27 inches gaming monitors are preferred by individuals, as they require less space. This, in turn, is anticipated to propel the segment during the forecast period.
End-users Segment Analysis
In terms of end-users, the global gaming monitor market is divided into commercial and residential segments. The residential segment accounted for a significant share of the market in 2019.
The residential segment is projected to expand at a sizable CAGR during the forecast period, due to high demand for gaming monitors from developing economies with an increasing number of gaming enthusiasts. The home entertainment industry and the gaming monitor market share are anticipated to grow, due to the outbreak of COVID-19.
Distribution Channels Segment Analysis
On the basis of distribution channels, the global gaming monitor market is classified as online and offline. The offline segment is classified as hypermarkets/supermarkets, exclusive stores, wholesalers & distributors, and department stores. The online segment is segmented into e-commerce and company-owned portals.
The online segment is expected to gain traction in the future, as it offers a variety of products with specific features and product descriptions. Moreover, online channels offer various discounts and offers. This, in turn, is anticipated to fuel the segment during the forecast period.
Regional Analysis
In terms of regions, the global gaming monitor market is segregated into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
North America incorporates two developed countries including the US and Canada. Demand for premium gaming monitors with costs higher than US$ 900 through offline channels is high in the region. The overall gaming market in the US was around US$ 36.92 Bn, while Canada stood at US$ 3.05 Bn. The US covers around 19% share of the global gaming industry size and is projected to have high demand during the forecast period.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the gaming monitor market share.
- Historical, Current, and Projected Market Size in terms of Value.
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Gaming Monitor Market Performance
Segments
By Panel Type
- IPS Panel
- TN Panel
- VA Panel
By Price Range
- USD 900-1500
- Above USD 1500
By Screen Size
- Less than 27 inches
- 27-32 Inches
- More than 32 inches
By End-users
By Sales Channel
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- South East Asia (SEA)
- Rest of Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
- Rest of Middle East & Africa (MEA)
Key Players
- Acer Incorporated
- ASUSTeK COMPUTER INC.
- Dell Technologies, Inc
- HP Inc
- Koninklijke Philips N.V.
- Lenovo Group Limited
- LG Electronics Inc
- MICRO-STAR INTERNATIONAL CO., LTD.
- Qisda Corporation
- Samsung Electronics Co., Ltd
- SCEPTRE Inc.
Competitive Landscape
Acer Incorporated, ASUSTeK COMPUTER INC., Dell Technologies, Inc, HP Inc, Koninklijke Philips N.V., Lenovo Group Limited, LG Electronics Inc, MICRO-STAR INTERNATIONAL CO., LTD., Qisda Corporation, Samsung Electronics Co., Ltd, and SCEPTRE Inc. are considered as key manufacturers of the market based on their different varieties of products, product availability, regional presence, efficient supply chain management system, and increasing demand for the products.
Players are adopting key strategies such as product development, geographical expansion, mergers and acquisitions, and many other strategies to increase the demand for gaming monitors.
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