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Thailand's PC Monitor Market Grew 1.7% YoY, 29.5% QoQ in 1Q24
June 19, 2024 | IDCEstimated reading time: 1 minute
Thailand's PC monitor market grew 1.7% year-on-year (YoY) and 29.5% quarter-on-quarter (QoQ) at 254,000 units in 1Q24. Consumers’ shipments grew by 13.4% YoY. Most of the market players re-balanced the inventory by bringing in low units in 4Q23 to let channels clear their excessive stock on hand. As a result, shipments grew QoQ with regular levels resuming in 1Q24. The government’s tax deduction policy in 2024, where consumers will get tax reductions when they buy goods and services from January to mid-February 2024, has triggered stronger consumer demand in 1Q24. The commercial market declined by -20.7% YoY to 68,000 units in 1Q24.
“The new government has formed up, but it will take time to see new orders come in. Commercial segment will have stronger demand in the next one or two quarters," says Puwanart Pientanyakij, Market Analyst, Devices Research, IDC Thailand.
Top 5 Companies Highlights, 2024Q1
- Acer Group leads the market with a 15.7% share. Acer pushed in higher sell-in volume to the consumer segment after re-balancing their inventory level from the previous quarter. While commercial shipment continued to decline due to soft market demand.
- Dell remains in the second position with a 15.2% share. They did distribution stock up to commercial channels which helped to spur the growth in commercial shipment.
- LG Electronics is in third place with a 12.3% share in the quarter. Like most of the market players, LG foresaw stronger consumer demand in Q1, thus increasing their sell-in volume after clearing aging stocks from previous quarters.
- Samsung and Lenovo are in the fourth position with 11.7% of share each. Samsung was able to manage its channel partners’ inventory, thus pushing higher sell-in volume, and had attractive promotions to push sell-outs. While Lenovo had several commercial fulfilments in the quarter, the strong consumer demand helped them secure their position in the market.
2024 outlook
The Thailand PC Monitor market is expected to grow by 3.2% YoY in 2024. Political stability, stabilized channel inventory, stronger consumer demand compared to the previous year, and a better macroeconomic situation will be the key drivers for positive YoY growth of the total monitor market. The refreshment of gaming PCs which started at the beginning of 2024 will also spur better gaming monitor demand from the consumer segment.
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