OLED Monitor Shipments Reach 200K in 1Q24, Annual Forecast at 1.34M

The OLED monitor market is experiencing strong growth in 2024, with a projected 161% increase in annual shipments, led by Samsung, Dell, LG Electronics, ASUS, and MSI.

Remarkable year-on-year growth of 121%
Projected quarterly growth rate of 52%
Annual shipments forecasted to skyrocket to 1.34 million units, achieving an impressive growth rate of 161%

According to the latest report from TrendForce, the OLED monitor market is off to a strong start in 2024. Shipments in the first quarter reached approximately 200,000 units, showing a remarkable year-on-year growth of 121%. This positive momentum is expected to continue into the second quarter, with a projected quarterly growth rate of 52% as new models hit the market. This surge in shipments is expected to bring the total for the first half of the year to 500,000 units. With brands increasing their investments and panel makers introducing new products alongside aggressive promotions, annual shipments are forecasted to skyrocket to 1.34 million units, achieving an impressive growth rate of 161%.

In terms of market share, Samsung takes the lead in the first quarter with a 36% share. Samsung’s success can be attributed to the strong sales of its 49-inch models, which offer a significant cost-performance advantage by being only 20% more expensive than their LCD counterparts. Samsung’s plan to introduce 27-inch and 31.5-inch models in the second quarter is expected to further boost its OLED shipments. On the other hand, Dell faced challenges in Q1 with its 34-inch OLED models due to competitive products from other brands that provided high quality at lower prices. However, Dell’s new 27-inch and 31.5-inch OLED monitors launched in the first quarter helped propel its overall OLED shipments to the second position, achieving a 21% market share.

LG Electronics holds the third spot with a 19% market share. Not only did LG continue to see strong sales in its existing 27-inch, 45-inch, and 48-inch OLED models, but it also reached new shipment highs with the introduction of 34-inch and 39-inch models in Q1. ASUS, known for its investment in the high-end monitor market, actively developed and promoted its OLED products. With a comprehensive OLED lineup ranging from 15.6 inches to 49 inches, ASUS captured about 10% of the market in the first quarter, securing the fourth position. MSI, on the other hand, significantly increased its market presence by launching multiple new models in 31.5-inch and 27-inch sizes, as well as competitively priced new 34-inch and 49-inch products. This strategic move boosted MSI’s market share by 6 percentage points to 7%, placing it fifth. Looking ahead, MSI plans to continue launching new models in the second half of the year, anticipating explosive growth in shipments of OLED monitors in 2024.

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Background Information

About ASUS: ASUS, founded in 1989 by Ted Hsu, M.T. Liao, Wayne Hsieh, and T.H. Tung, has become a multinational tech giant known for its diverse hardware products. Spanning laptops, motherboards, graphics cards, and more, ASUS has gained recognition for its innovation and commitment to high-performance computing solutions. The company has a significant presence in gaming technology, producing popular products that cater to enthusiasts and professionals alike. With a focus on delivering and reliable technology, ASUS maintains its position as a important player in the industry.

About Dell: Dell is a globally technology leader providing comprehensive solutions in the field of hardware, software, and services. for its customizable computers and enterprise solutions, Dell offers a diverse range of laptops, desktops, servers, and networking equipment. With a commitment to innovation and customer satisfaction, Dell caters to a wide range of consumer and business needs, making it a important player in the tech industry.

About LG: LG Electronics, headquartered in Seoul, South Korea, is a global technology company for its diverse portfolio of innovative products. With a presence in various industries, including consumer electronics, home appliances, mobile devices, and more, LG is a leader in technological advancements. LG offers a range of laptops and monitors that combine sleek design with advanced features, catering to both personal and professional needs.

About MSI: MSI (Micro-Star International) is a globally recognized company that specializes in the development and manufacturing of a wide range of computer products. With a rich history dating back to its establishment in 1986, MSI has emerged as a key player in the technology industry, consistently delivering innovative solutions that cater to the needs of both casual users and hardcore enthusiasts. The company's product portfolio encompasses a diverse array of products, including motherboards, graphics cards, laptops, desktops, monitors, and various gaming peripherals. MSI's commitment to quality and performance is evident in its dedication to technologies, sleek designs, and rigorous testing standards. for its gaming-focused products under the MSI Gaming brand, the company has earned a reputation for delivering high-performance components that enhance the gaming experience.

About Samsung: Samsung, a South Korean multinational conglomerate, has established itself as a global leader in various industries, including electronics, technology, and more. Founded in 1938, Samsung's influence spans from smartphones and consumer electronics to semiconductors and home appliances. With a commitment to innovation, Samsung has contributed products like the Galaxy series of smartphones, QLED TVs, and SSDs that have revolutionized the way we live and work.

Technology Explained

OLED: Organic light-emitting diode (OLED) technology is a cutting-edge display technology that has revolutionized the computer industry by producing superior image quality and superior energy efficiency. OLED technology works by using organic compounds to create an efficient and flexible light source. This type of technology has enabled thinner and lighter designs as well as improved color range and resolution. OLED technology is currently used in laptop displays and is increasingly used in televisions and mobile devices. Its benefits, such as relatively low power consumption and extraordinary brightness, give a more vivid and more powerful image even in dim areas. OLED technology has also improved computer performance, as its power efficiency passes on to other computer components and leads to extended battery life. OLED technology also features shorter response time and full color reproducibility, making it ideal for fast-paced action games.