TrendForce sees explosive growth in OLED monitor segment

MW
Mike Wheatley

Shipments of OLED monitors are expected to more than triple this year thanks to an increasingly expanded range of the products being made available.

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A report by market analyst TrendForce forecasts that shipments of OLED monitors will jump by an astronomical 323% year-over-year in 2023 to more than 508,000 units, up from just over 120,000 unit shipments in the year prior.

The market will continue to grow in 2024, when shipments are expected to hit over 1 million units for the first time thanks to the availability of a growing range of OLED monitor products.

For years, the best monitors available were made using LCD technology, and it was only a few years ago that the first OLED monitors became available. However, as more brands begin to sell OLED monitors, consumers are showing keen interest in them.

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In 2024, it’s expected that a trio of new OLED monitor sizes will come onto the market for the first time, with leaked plans from LG Display, which produces displays for the bulk of the OLED monitors available today, suggesting it will launch 32-inch, 34-inch and 39-inch models next year. In addition, it’s expected that Samsung Display will launch the world’s first 360Hz QD-OLED monitor next year.

TrendForce said in a press release that the OLED monitor market will be much richer, with more diverse product sizes and specifications available to consumers in 2024. “Add to that the debut of the 27-inch and 31.5-inch OLED panels by two leading Korean panel makers, and the arena is set for a showdown,” TrendForce said. “Such dynamics are predicted to catapult OLED monitor shipments past the coveted one million unit threshold."

Samsung Electronics and LG Electronics will be the biggest beneficiaries of this growth, with each brand expected to command around a quarter of the overall OLED monitor market. Dell is likely to take a 20% share, while Asus is closer to 9%.

Looking at consumer’s choices from a size perspective, TrendForce said 34-inch OLED monitors are the most common choice, expected to account for 37% of all OLED monitor sales in 2023. Second place goes to 27-inch monitors with 32%, while 49-inch monitors will make up 14% of all sales and 45-inch monitors will command around 10%.

In 2024, TrendForce expects 27-inch OLED monitor sales to increase, while the 32-inch from LG and Samsung are both likely to increase their market share.

Besides LG and Samsung, brands including AOC, Asus, BenQ, Corsair, Dell, Dough, MSI and Philips also compete in the OLED monitor market.