CHART: Thailand's PC Monitor Market in Q1 2024
With positive indicators, Thailand's PC monitor market appears poised for continued growth in the remaining quarters of 2024.
- Thailand's PC monitor market grew 1.7% YoY in Q1 2024, defying expectations.
- Consumer demand surges 13.4% YoY, fueled by strategic inventory management and tax breaks, while the Commercial segment dips 20.7% YoY.
- Acer leads the market with 15.7% share, followed by Dell and LG.
Thailand's PC monitor market defied expectations in the first quarter of 2024, experiencing modest but positive growth of 1.7% year-over-year (YoY) despite a sluggish commercial sector according to a recent report by IDC. This uptick, reaching a total of 254,000 units shipped, was primarily fueled by a surge in consumer demand.
Market analysts attribute the consumer segment's robust performance (13.4% YoY growth) to strategic inventory management by key players in Q4 2023 helped clear excessive stock, allowing for a healthy restocking in Q1. Additionally, the Thai government's tax deduction policy implemented in January and February further stimulated consumer spending on electronics, including PC monitors.
On the other hand, the commercial segment painted a different picture—shipments contracted by 20.7% YoY, reflecting a period of wait-and-see following the recent change in government. Analysts at IDC Thailand anticipate a turnaround in the coming quarters as the new administration settles in and initiates fresh procurement cycles.
