Digitalization has rapidly taken over the world. With easy access to electronic devices and low-cost data services, E-sports consumption has been steadily increasing.
Online gaming has become an integral part of the society today, with the 2018 Asian games featuring E-sports as a demonstration sport in the event. The increasing audience has helped cement E-sports as an authentic professional sport, creating a flourishing market in the gaming monitors market.
The rise in demand for the online gaming activities and sports is directly related to the increase in gaming monitors supply, which forecasts the market to see an immense boost. According to and ESOMAR certified market research and consulting firm’s study, the global gaming market is predicted to rise rapidly at a CAGR of 6.0% during the period from 2020 to 2030.
KEY TAKEAWAYS FROM THE GAMING MONITORS MARKET
· Increasing E-sports championships, gaming events and game developing companies will affect the adoption of gaming monitors, giving it a boost commercially
· The gaming monitors market is expected to grow at a CAGR of 6.0% during the forecast period of 2020-2030
· Consumers from the ages of 18 to 35 years are expected to be the dominant consumer in the market
· Double the increase in market value of the 27-32 inches’ screen size sub segment is expected by 2030
The consumer end-use segment is expected to continue its dominance over the forecast period with almost 75% shares in the gaming monitors market
Improvements to Offer Better Connectivity Aiding Growth
Monitors are increasingly being made with full support for HDMI ports, DisplayPort, USB-C standard, a cable, and connector specification that have made connectivity simpler. This support has helped in eliminating the need for trouble prone and costly desktop docking stations. It also has reduced the number of connector cables needed and turn monitors into USB hubs. Many monitors also include Thunderbolt 3 ports such as downstream and upstream to provide a single-cable solution for data transfers and charging. USB-C can offer more reliability and less clutter, thus most of the players have started offering support for connections such as Thunderbolt 3 for better connectivity.
“While several other markets seem to struggling amid COVID-19 outbreak, gaming monitors’ producers are likely to enjoy improved prospects. With consumers choosing to spend their maximum time indoors to avoid contracting the virus, their interest in online sports and gaming have surged. Most market players are expected to capitalize on this opportunity to strengthen their footprint in the coming years,” said a lead analyst.
WHO IS WINNING?
Some of the key players of the gaming monitors market are ASUSTeK Computer Inc., Samsung Electronics Co. Ltd., Dell Inc., HP, AOC Systems Incorporated, LG Electronics, Lenovo Group Limited and Acer Inc.
The gaming monitors market is a rapidly changing and competitive market. Companies continually work to create newer designs and better technology. The companies are partaking in collaborations and partnerships to enhance their products and broaden their audience. Europe and North America are important markets, holding 50% of the global gaming monitors market share.
These insights are based on a report on Gaming Monitors Market by Future Market Insights
