Gaming Monitors Market - Size, Share, Industry Trends, and Forecasts (2024 - 2031)

By Panel Type:

Based on the panel type, the market is segmented into Twisted Nematic (TN), In-Plane Switching (IPS), Vertical Alignment (VA), and OLED (Organic Light-Emitting Diode).

Trends in the panel type:

• Innovative hybrid panel technologies merging TN, IPS, and VA features are in the works to provide a mix of speed, color precision, and contrast, meeting a wider variety of gaming requirements.

The IPS segment accounted for the largest revenue share in 2023.

• An IPS is a type of LCD (Liquid Crystal Display) monitor and is being used the most in the gaming monitors market.
• Factors including superior color accuracy, wide viewing angles, and vibrant visuals, which appeal to gamers, content creators, and professionals.
• Additionally, IPS panels offer a balance between visual quality and performance, allowing them to be used effectively for a range of gaming genres and multimedia tasks.
• In January 2023, Lenovo ,Legion brand unveiled Legion Y27qf-30, Featuring a QHD resolution and a native refresh rate of 240Hz, the monitor leverages a high-quality 10-bit IPS panel, offering superior color accuracy with 125% sRGB and 95% DCI-P3 coverage.
• Hence, the IPS panel type segment is currently driving the global gaming monitors market share.

The OLED segment is anticipated to register significant CAGR growth during the forecast period.

• OLED monitor is a display technology that uses organic light-emitting diodes to create images.
• They offer excellent image quality with richer blacks, increased contrast ratios, and brighter colors.
• Furthermore, OLED monitors are perfect for gaming and multimedia because of their quicker response times and broader viewing angles.
• Thinner and lighter monitors are achieved by their self-emissive nature eliminating the requirement for a backlight.
• In December 2022, LG Electronics launched UltraGear OLED Gaming Monitors, featuring support for variable refresh rate (VRR), NVIDIA G-SYNC Compatible, FreeSync Premium, and VESA Adaptive Sync for a seamless gaming experience with outstanding contrast, vibrant colors, and high response time.
• Therefore, as per the analysis, OLED panels are expected to become more accessible to a broader consumer base and enhance the gaming experience, resulting in gaming monitors market opportunities.

By Resolution :

Based on resolution the market is segmented into Full HD, QHD, and 4K.

Trends in the resolution:

• Advanced scaling technologies and upscaling features including AI improve the clarity and quality of lower-quality content on high-resolution display.
• Use of multiple monitors with different resolutions is a growing trend among gamers and streamers to have more screen space and boost productivity, by mixing Full HD, QHD, and 4K screens.

The Full HD segment accounted for the largest revenue share of 39.01% in the year 2023.

• Full HD is the most common resolution available in a wide range of these monitors.
• These monitors offer a good balance of visual quality and cost-effectiveness with a higher refresh rate.
• Factors including affordability, wide availability, performance balance, cost-effectiveness, and versatility drive the full HD segment.
• In January 2022, LG Electronics , released the impressive UltraGear gaming monitor, which features a 24.5-inch Full-HD IPS display, delivering exceptional picture quality, a 360Hz refresh rate, and a 1 millisecond Gray-to-Gray response time. The addition of NVIDIA G-SYNC technology enhances LG's new gaming monitor's performance, reducing screen-tearing and improving precision control with NVIDIA Reflex to minimize click-to-display latency.
• Hence, the analysis shows that the Full HD segment is boosting the gaming monitors market demand.

The 4K resolution segment is anticipated to register the fastest CAGR growth during the forecast period.

• 4K monitors offer four times the resolution of Full HD, providing exceptional detail and clarity. This enhances the gaming experience by making textures, environments, and characters appear more realistic and immersive.
• The higher pixel density of 4K monitors creates a more immersive and engaging gaming experience.
• Additionally, Modern GPUs and gaming consoles are increasingly capable of handling 4K resolutions at high frame rates.
• In March 2023, HP Inc introduced a new line-up of OMEN monitors, alongside other gaming hardware and software. These monitors are designed for gamers of all levels, offering high performance, stunning visuals, and enhanced features through the OMEN Gaming Hub to deliver an immersive gaming experience.
• Thus, as per the analysis due to superior visual clarity, advanced graphic technology, and enhanced immersive experience 4K resolution segment is expanding the gaming monitors industry.

By Sales Channel:

Based on Distribution channels, the market is segregated into online, specialty stores, retail stores, enterprises, and others.

Trends in the sales channel:

• Influencer partnerships and affiliate marketing programs are driving online sales, with gamers turning to trusted personalities for recommendations on the latest accessories .

The online segment accounted for the largest revenue share in the year 2023 and is anticipated to register the fastest CAGR growth during the forecast period

• Online channels offer global accessibility, allowing consumers from various regions to access a broader range of products.
• Factors including convenience and accessibility, price comparisons and discounts, customization, product availability, global reach, and pandemic impact are key aspects driving the expansion of the online segment.
• Moreover, the global e-commerce market is expected to keep expanding, with more consumers preferring the convenience of online shopping.
• Therefore, the analysis shows that these factors suggest the online sales channel will continue to grow and maintain the gaming monitors market demand.

By End-User:

Based on end-use the market is segmented into Gaming Professionals, Casual Gamers, Content Creators, and others.

Trends in the end-user:

• Gaming Monitors are being used to serve multiple purposes beyond gaming, such as content creation, video editing, and general productivity, appealing to users who require versatility in their equipment.
• The casual gaming segment is growing as more people engage in gaming as a hobby. This trend drives demand for affordable yet capable monitors that offer good performance for everyday gaming.

The Gaming Professionals segment accounted for the largest revenue share in 2023 and is anticipated to register the fastest CAGR growth during the forecast period.

• Gaming professionals require monitors with high refresh rates, low response times, and precise color accuracy to enhance their competitive edge and gameplay experience.
• The need for specialized features such as G-Sync, FreeSync, and ultra-high resolutions drives professionals to seek out monitors that meet their exacting standards.
• Factors including high-performance requirements, frequent upgrades, streaming and content creation, e-sports tournaments and competitions, and global reach influence are key aspects driving the growth of the gaming professional segment.
• Additionally, the continuous investment in professional gaming infrastructure partnerships and sponsorships also boosts the segment.
• In June 2024, the Esports World Cup Foundation (EWCF) announced a major partnership with LG UltraGear Gaming Monitors, which will use advanced gaming technology to enhance the global gaming event.
• Thus, as per analysis the increasing popularity of online games necessitates high-performance monitors by gaming professionals, boosting the gaming monitors market expansion.

Regional Analysis:

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

North America is expected to register a CAGR of 7.0 % during the forecast period. The gaming monitors market is experiencing robust growth driven by the high adoption rate of advanced gaming technologies and a strong presence of gaming enthusiasts. The region benefits from a well-established gaming culture, including numerous gaming events and a large number of gaming professionals. Major players in the gaming industry, along with significant consumer spending on high-end gaming accessories, contribute to North America's leading market.

• In January 2024, HP Inc. (US) launched the most personalized gaming lineup to date, featuring cutting-edge innovations across its OMEN and HyperX brands. The new range of laptops, accessories, and software is engineered to integrate seamlessly, providing gamers with a unified ecosystem that allows them to concentrate on their gameplay.

Asia-Pacific accounted for the revenue share of USD 2,634.24 Million in 2023 and is expected to reach USD 4,664.54 Million by 2031. In addition, China accounted for the maximum revenue share of 38.6% in 2023.

The demand for a range of gaming monitors is fueled by the region's extensive and varied gamer population, including both affordable and premium options. The increase in e-sports tournaments and gaming cafes, paired with the rising popularity of mobile and PC gaming, is driving the notable expansion of the gaming monitors market in Asia-Pacific. Moreover, the presence of technological advancement and a robust manufacturing sector in the area allows for the presence of cost-effective and cutting-edge monitors.

• In June 2023, Olympic Esports Week, Samsung Electronics (Suwon, South Korea) made a significant impact as a Premium Partner, providing its Galaxy smartphones, tablets, and Odyssey gaming monitors for both esports competitions and public activities.

As per gaming monitors market analysis, Europe is experiencing a gradual growth in the gaming monitors market, fueled by rising consumer enthusiasm for gaming and an expanding e-sports community. The different gaming preferences in countries across the region lead to a need for a variety of monitors. Demand for high-resolution and high-refresh-rate displays is on the rise among European consumers looking for monitors that provide better performance and gaming experiences. Major gaming conventions and events in Europe drive the market as gamers and professionals look for cutting-edge technology to remain competitive.

In the Middle East, Africa, and Latin America, the gaming monitors market is poised for growth due to several key factors. The growing interest in gaming and e-sports, along with better internet access and rising disposable incomes, is causing a greater need for advanced gaming technology across Brazil, UAE, Mexico, and others.