Industry Insights
The global monitor arm market revenue was reported at USD 1.25 billion in 2017 and is expected to reach USD 1.54 billion by the end of 2025. The rising use of internet services globally is one of the major reasons to influence the monitor arms market. A majority of people are using internet services on laptop, desktop, tablets has increased significantly. According to the American Community survey reports, in 2016, in 79% of the total population surveyed, usage of computers for household purposes had increased and in 2017, the count has increased to 89% of the total population.
Global monitor arm market size by application, 2015 - 2025 (USD Million)
Segmentation by Application
• Healthcare
• Office
• Education
• Others
The office segment acquired the largest market share in the global monitor arms market and was valued at USD 476.74 million in 2016. It is projected to reach a market size of USD 604.39 million by 2025, growing at a CAGR of 2.69% by the end of 2025. However, the healthcare segment is anticipated to grow with the highest CAGR of 2.94% over the forecast period.
This can be attributed to the increasing deployment of technologically sophisticated medical equipment followed by adoption of advanced patient monitoring methods in the hospitals. Moreover, continuous security management and the checkups provided to the patients enabled by the extensive use of computer and computer accessories has provided a significant growth to the healthcare sector in the monitor arm market.
Monitor arms find application across various sectors such as offices, healthcare, education, and others including residences, hotels, and restaurants. The increasing usage of monitors in corporate office setup worldwide renders the largest market share in terms of volume (40.8%) in the year 2017. However, the increasing popularity of these products coupled with increased productivity as a result of the usage of the same is expected to enhance the consumer base. The growth in their usage can also be attributed to the availability of a broad range and customized features of monitor arms. This is further anticipated to enhance the usage across other application areas over the forecast period.
Segmentation by region
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa
North America dominated the global monitor arm market accounting for a revenue of about 493.49 million in 2016 and is expected to rise to about 624.12 million by the end of 2025. The market is expected to grow at a CAGR of around 2.67% by the end of 2025.
In the U.S., the market accounts for about 78.34% share in 2016 of the North America revenue. This trend is expected to continue over the projected period on account of increasing computer & computer accessories’ usage particularly in U.S. followed by Canada and Mexico. For instance, in 2017, computer accessories, peripherals and parts worth around USD 59.4 billion were imported in the U.S.
An increasing number of corporate and private offices, most advanced digitalized hospitals & institutions, universities, and schools & colleges in the region are rendering increased demand for monitor arms. This, in turn, is rendering the positive market outlook for the monitor arm market. There is an increasing inclination of organizations towards the use of monitor arms owing to the concerns about the comfort of workers while working, improving ergonomic posture to avoid health issues, and ultimately increasing productivity and performance of workers.
Competitive Landscape
The major players operating in monitor arm market include Herman Miller, Inc., Humanscale Corporation, Ergotron, Inc., Innovative Office Products LLC, and Loctek Ergonomic Technology Corp. These players are engaged in designing and manufacturing of single, dual and multiple screen monitor arms for office, healthcare, and educational purposes.
Global monitor arm market is highly fragmented in nature with no company contributing major share in the industry. In 2017, the top four market leaders contributed a share of less than 10% in the overall monitor arm industry. The vendors operating in the industry are majorly small size players catering to the local market.
The industry fragmentation is due to the nature of business operations locally to maximize profits and minimize transportation costs. The market is expected to remain fragmented over the approaching years attributing to the low market share concentration of the companies.
The monitor arm market exhibits a high level of competition.
The industry is saturated and the barrier to new entrants is low due to the mature and developed stage of the industry. Though, the market is fragmented in nature monitor arm companies are mostly functioning in regional and local markets. Companies are focusing on technological advancement, new product development, and market expansion to increase monitor arm sales and sustain the market competition.
The manufacturers dealing in the monitor arm industry are undertaking various product launches in order to expand company product portfolio and geographical presence. For instance, In August 2017, Ergotron Inc., launched a MXV monitor arm with single and dual mounting capabilities to enhance its productivity and provide ergonomic comfort.
