The Asia Pacific hardcopy peripherals (HCP) market experienced a decline in the second quarter of 2023, with 7.2 million units shipped, reflecting a 10.2 percent Year-on-Year (YoY) drop, according to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker.
The decline in both inkjet and laser printer products can be attributed to reduced demand across various customer segments in the Asia/Pacific region, except for small offices and very large businesses. The consumer segment recorded the highest YoY decline, followed by the government segment and SMBs.
Inkjet market in the Asia Pacific excluding Japan (APeJ) region declined by 13.5 percent YoY. The reduction in ink cartridge model purchases was primarily driven by a significant YoY decline in China’s ink cartridge market, influenced by lower consumer income impacting printer purchases.
Other countries in the Asia Pacific region such as Australia, Korea, and Malaysia also witnessed a YoY decline in the inkjet market as their households’ printer needs were largely met during the pandemic, IDC report said.
In contrast, Indonesia, India, and Thailand reported YoY growth in the inkjet market, driven by increased demand for color 1 to 20 ppm ink tank models among students, households, and micro-businesses.
The APeJ laser market experienced a 6.5 percent YoY decline, mainly due to reduced demand for laser printers and copiers from government, enterprises, and SMBs in countries like China, Korea, and Vietnam.
On the other hand, Thailand, Taiwan, India, Australia, and Malaysia saw YoY growth in the laser printer market. The increase in demand in these countries, particularly in the laser A4 printers’ market, was fueled by the shift towards working from the office and rising demand from the enterprise, government, education, and SMB sectors.
Apoorv Kandharkar, Market Analyst at IDC Asia Pacific, predicts that India will be one of the fastest-growing HCP markets in the coming year, driven by demand from various sectors, including BFSI, SMBs, enterprises, micro-businesses, and education.
Demand from non-metro regions and increasing print volumes are expected to boost the Indian market in the short term, with further growth anticipated in the second half of the year as government programs peak.
Top Three Home/Office Printer Brand Highlights:
HP: Despite a reduced market share, HP maintained its market leader position in 2023Q2. The decline was mainly observed in China’s inkjet market as people returned to schools and offices, reducing the need for home printing. Australia, India, and Thailand showed the highest YoY growth for HP.
Canon: Canon managed to tie Epson at second place. It was previously dropped to third place in the APeJ region in Q1. Canon has garnered 20 percent share, driven by successful printer projects in the government and commercial segments, particularly in education and retail. The highest YoY growth for Canon was seen in India and Korea.
Epson: Epson also has 20 percent share, focusing on sustainability and promoting ink tank models. Indonesia recorded the highest YoY growth for Epson, followed by China and India.
Paramat Arbhasil, Market Analyst at IDC Asia Pacific, anticipates a softening trend in the latter half of 2023 as pent-up demand is fulfilled. Consumer printing driven by students, especially wireless models and ink tanks over ink cartridges, is expected to remain strong. On the laser side, A3 laser is predicted to improve as enterprise purchases return to normalcy, while A4 laser may see increased demand from the government sector as budget roll-outs progress.
