Hardcopy Peripherals (HCP) market in the Asia Pacific excluding Japan region (APeJ) experienced a significant decline of 15.2 percent year-on-year (YoY) in Q3 2023, marking a total of 6.9 million units, according to the latest IDC’s Worldwide Quarterly Hardcopy Peripherals Tracker.
The report highlighted that the HCP market across various countries faced substantial pressure from macroeconomic factors, contributing to weakened demand in both consumer and commercial segments.
Analyzing the year-on-year performance for each product type, the inkjet sector saw a decline of 15.1 percent, while laser devices, including A4 and A3 machines, decreased by 13.5 percent. Additionally, the Serial Dot Matrix (SDM) segment experienced a notable decline of 26.4 percent.
In several sub-regions such as ANZ, ASEAN, Greater China, and India, ink cartridge shipments notably decreased due to slower ink cartridge replacement rates among home users. However, the ink tank segment witnessed growth in countries like Australia, the Philippines, Bangladesh, Indonesia, and India. This growth was attributed to increased acceptance in key sectors such as healthcare and education, particularly within small and medium-sized businesses (SMBs).
The third quarter saw a significant decline in both laser A4 and A3 markets, with A3 machines declining by 18.7 percent and A4 devices by 12.8 percent. This trend was primarily influenced by subdued demand from SMBs and small offices/home offices (SOHOs) across various countries, compounded by global economic challenges impacting business spending. However, India stood out in the APeJ region, achieving year-on-year growth for both laser printers and copiers. This growth was driven by significant government tender fulfillments leading up to the anticipated general election in Q2 2024.
Yi Karl Tai, Research Analyst at IDC Asia Pacific, expressed optimism for a potential recovery in demand for laser products, anticipating a resurgence in certain countries in alignment with government and business spending amid economic recovery.
Top Three Home/Office Printer Brand Highlights:
HP maintained its dominant position despite a slight decrease in shipments, crossing the 30 percent market share threshold. The company secured new projects in 3Q23 from both private and public sectors, experiencing significant year-on-year growth in Vietnam and Sri Lanka.
Epson edged slightly ahead of Canon in Q3, leading the ink tank segment and gaining traction among SMBs and home users. The Philippines saw the highest year-on-year growth for Epson, followed by Bangladesh and Indonesia.
Canon secured the third position in 3Q23 with a slight drop in total unit shipments. Stronger demand in healthcare, manufacturing, and education for their laser products, alongside the transition from ink cartridge to ink tank models, contributed to growth in select Asian markets. The highest year-on-year growth was observed in Malaysia, India, and Korea.
Leonard Adiarto Sudjono, Senior Research Analyst at IDC Asia Pacific, anticipated a smoother shipment trend in Q4 and emphasized the continued shift from ink cartridges to ink tanks. He highlighted the rising popularity of ink tank models across various sub-regions and major markets, driven by end-users seeking efficiency in printing, aligned with an increasing awareness of Environmental, Social, and Corporate Governance (ESG) principles.