European monitor market grows again
According to the latest figures from the analyst Context, the monitor market in Europe made a big step of recovery after decreasing for more than 18 months. The recent growth rate of seven percent in the first quarter of 2016 is the highest for the segment since more than five years. The driving force behind this growth, according to Context, is mainly characterised by higher resolutions, better colour reproduction, panel or screen size upgrades. But also new gaming features provided fresh inputs to the market. In general, this trend is predicted to be valid for the coming quarters, leading AOC and MMD to expect a continued growth. As a matter of fact, AOC and MMD, license partner for Philips monitors, performed extraordinarily well in this recovering market: Together the two companies increased their sold volume of monitors by 35 percent in the first quarter 2016 compared to the same quarter the year before. Following this development their joint market position took two steps from Number 4 a year ago to Number 2 this year. AOC and MMD both are subsidiaries of TPV, the global leading display specialist.
Also in Western Europe the market grew by seven percent in the first quarter 2016. And also here the two brands outperformed the market. Philips grew in volume by 27 percent, AOC by 29 percent in the first quarter 2016 compared to the same quarter the year before. AOC and Philips are the fastest growing brands in Western Europe and together the two brands reach a market share of 11 percent – which leads to a Number 3 position in the Western European monitor market.
“The recent development is a very good sign for the monitor market in general and especially for our two brands AOC and Philips”, says Thomas Schade, Vice President Europe for AOC and MMD. “Both our brands outperformed the market development. This underlines that our innovation driven and monitor-focused strategy pays off. In 11 European countries we are now on the Number 1 position and we have strong top 3 positions in many more countries. Together with our partners in the trade we will further develop our positions with our ongoing delivery of innovations.”
After a decrease during last year, the monitor market of the United Kingdom and Ireland grew by more than ten percent in the first quarter 2016 compared to the same quarter last year. AOC and Philips both outperformed the market with a volume growth of almost 30 percent. As a result the two brand’s market share grew by 17 percent and together, they now hold the Number 4 position in the market