Data from market intelligence firm International Data Corp. (IDC) show a 5.9% decline in PC monitor shipments for the full year 2022. At just over 30.5 million units, the fourth quarter (4Q22) results marked the lowest fourth quarter volume since IDC began tracking the market in 2008.

For 4Q22, PC monitor shipments contracted 18.3% year over year (YoY).

“Annual volume had averaged about 125 million before COVID-19, then shot up to over 135 million for each of the past three years,” explained said Jay Chou, research manager for IDC’s Worldwide Client Device Trackers. “It will take a while for the dust to settle. Consumer and businesses are recalibrating their priorities, but we remain confident that much of the recently expanded installed base will be enticed to upgrade in the coming years.”

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IDC pointed out that the challenging macro environment contributed to the decline in consumer and commercial demand for PC monitors. The results hewed close to the forecast of a 16.2% decline in fourth-quarter shipments. Add to that is the sudden spike in demand during the pandemic and it slowed down as things are slowly going back to pre-pandemic levels.

“As a result of worsened economic conditions, IDC expects 2023 shipments to contract another 9.8% as lingering inventory and tepid demand weigh on the market,” the market intelligence company said. “The year 2024 should see a slight recovery that will lift shipment volumes above pre-pandemic levels as inventory improves. Beyond 2024, IDC expects further stabilization based on the larger installed base that was created by hybrid work and the growth in gaming monitors.”