Shift in Consumer Demand Strengthens BenQ India’s Position in LCD Monitor Market

Work from Home and Learn from Home consumer demand helps BenQ to emerge as Market Leader in fast
growing 27inch monitor market segment in India

New Delhi, 29th January 2021: BenQ, a leading global innovator of display technologies, today announced a staggering year on year growth of 374% in the 27-inch monitor segment, along with a 220% growth in the 24-inch monitor segment. These insights were received from the IDC report of Q3 2020 in the LCD monitor market.

In a year affected by lockdowns due to the Coronavirus pandemic, BenQ India was able to capitalize on Hybrid Working and Blended Learning phenomena, as people worked and learnt from home. While the size of the overall LCD monitor market in Q3 2020 was 1.3 M, the market saw a year on year decline by 16.2%, while BenQ India grew by 185% year on year. This was due to BenQ’s wide portfolio of monitors spanning from Premium IPS Monitors to high-end monitors for Prosumers like Designers and Photographers to Professional Gamers.

Overall, 27” size segment witnessed phenomenal YoY growth of 108% in Q3’20 driven by strong Work from home demand for large screen monitor display to be used along with laptop. BenQ was the market leader in 27” size segment with 28.1% market share and 374% YoY growth 24” size segment also witnessed YoY growth of 32.8% in Q3’20 and BenQ grew YoY by 220% in this segment. This growth has been led by BenQ India’s cutting-edge innovative solutions which are not only helping a consumer work from home comfortably, but also learn at home and find entertainment at home. With consumers turning to larger form factor of screens, BenQ’s solutions which are heavy on class apart innovation and the concept of Visuality have helped the brand achieve consistent growth.

Commenting on this achievement, Rajeev Singh, Managing Director - BenQ India, said, “The IDC report from Q3 2020 has shown that consumers prefer purchasing solutions that add a better visual element to their life. With people continuing to work from home, and schools taking lectures from home, consumers are now looking for products that will help them with their work and learning with ease considering the long hours spent in-front of screens. As pioneers of Visual Communication and the concept of Visuality, we are thrilled to achieve such numbers in an intense and competitive market. We are sure that the trust put in us by our consumers is only set to increase through the rest of the quarters.”

Customers have been switching from small screens of Mobiles and Tablets to large screen monitors that gave viewing comfort and ergonomic advantage over small screens. This shift coupled by a wide-spread portfolio of BenQ monitors led to it achieving such great results. BenQ has offerings that assist in Working, Learning and Playing at Home.

In an ever-increasing portfolio of products aimed to cater to all forms of consumers, BenQ India is all set to retain and increase its growing position in the market, with products like:

- Premium IPS Eye-Care Monitors for Work from Home and Learn @ Home – G-Series
- Entertainment Monitors with HDR, Eye-Care and treVolo Speakers – E-Series
- PhotoVue Photographers’ Monitors for photo and video editing– SW Series
- DesignVue Designers’ Monitors for designing and animation - PD Series
- Gaming Monitors
- o Mobiuz for Gaming Enthusiasts
- o Zowie for Professional E-Sports Players

About BenQ Corporation

Founded on the corporate vision of “Bringing Enjoyment ‘N’ Quality to Life”, BenQ Corporation is a world-leading human technology and solutions provider aiming to elevate and enrich every aspect of consumers’ lives. To realize this vision, the company focuses on the aspects that matter most to people today – lifestyle, business, healthcare, and education – with the hope of providing people with the means to live better, increase efficiency, feel healthier and enhance learning. Such means include a delightful broad portfolio of people-driven products and embedded technologies spanning digital projectors, monitors, interactive large-format displays, digital cameras and camcorders, mobile computing devices, and lighting solutions. Because it matters.

About BenQ Group

The BenQ Group is a $25+ billion powerhouse comprised of nearly 20 independent companies operating in over 30 countries across numerous industries with a combined workforce of over 100,000 employees. Each Group member is a recognized leader in its field, contributing to the BenQ Group’s vast resources, broad R&D, and distinct strategic strengths. By leveraging each company’s vertical specialization to create true scale across horizontal markets, the BenQ Group controls a highly efficient value chain with the unrivaled ability to deliver critical components and world-class solutions in the following industries: TFT-LCD, green energy, fine chemicals, and advanced materials, lighting, IC design, precision components, system integration, branded business, and service. The Group is committed to profitable and sustainable businesses that share its long-standing vision of Bringing Enjoyment ‘N’ Quality to Life.