After five consecutive quarters of year-over-year shipment growth, the global PC monitor market hit an inflection point in the third quarter of 2021 (3Q21), registering the first year-over-year decline in shipments since global lockdowns began in the first quarter of 2020 (1Q20), according to research firm IDC.
Despite persistent supply chain disruptions, unemployment, and an uneven economic recovery, consumer demand remained high for smart home devices like smart TVs, smart speakers, and other devices.
The double-digit growth in the smartphone market in the early quarters of 2021 came to an end in the third quarter of 2021 as worldwide shipments declined 6.7% year over year.
The growth in Q3 marks the sixth consecutive quarter of growth for the PC market as the onset of the pandemic has led to a surge in demand while also contributing to component shortages and other supply challenges.