What is colour gamut and does it matter for a monitor?
Colour gamut is the range of colours a display can reproduce. It matters enormously for some work and barely at all for others, and the specification is frequently misrepresented.
The main colour spaces:
sRGB — the standard for the web and most general content. It is the smallest of the common spaces, and it is what almost everything you view online was created in.
DCI-P3 — a wider space used in digital cinema and now the standard for HDR content and most modern phones and premium laptops. It covers roughly 25% more of the visible spectrum than sRGB, mainly in reds and greens.
Adobe RGB — wider in greens and cyans specifically, developed for print work. It matters for photographers preparing work for CMYK printing.
Rec.2020 — very wide, used as a target for future video standards, with no consumer display covering it fully.
How coverage is expressed, and where the misrepresentation happens. Two different figures are used and conflated:
Coverage — what proportion of the target space the display can reproduce. This is the useful number.
Volume or gamut size — how large the display's range is relative to the target. A display can show 130% of sRGB volume while failing to cover part of it, so the headline number can exceed 100% while the display is still incomplete.
Always look for coverage, and be sceptical of figures above 100%.
Who needs a wide gamut:
Photographers, designers and video editors producing work for others, where accuracy is the product. These users also need calibration with a hardware colorimeter, since gamut without accuracy is useless.
Print work specifically benefits from Adobe RGB.
Who does not: general use, office work, and programming. A wide-gamut monitor without proper colour management actually makes sRGB content look oversaturated, which is worse than a standard display.
Also relevant: bit depth, Delta E accuracy figures, and uniformity.