HP has lost considerable share in the worldwide hardcopy peripherals (HCP) market to Canon during the third quarter of 2022, according to IDC.
Hardcopy Peripherals include single-function printers, multifunctional systems (MFPs), and single-function digital copiers (SF DC).
HP’s share has nosedived to 36.4 percent in Q3 2022 from 40.9 percent in Q3 2021.
Canon has enhanced its share to 20.2 percent in Q3 2022 from 16.2 percent in Q3 2021.
Epson’s share has decreased to 19.2 percent in Q3 2022 from 20 percent in Q3 2021.
Brother’s share has gone up to 9.6 percent in Q3 2022 from 8.9 percent in Q3 2021.
Pantum’s share has increased to 2.5 percent in Q3 2022 from 1.4 percent in Q3 2021.
IDC said shipments of hardcopy peripherals grew 1.2 percent to 21.2 million units in the third quarter of 2022 (3Q22). Shipment value of hardcopy peripherals increased 7.5 percent to $9.8 billion in Q3, IDC said.
Canon and Brother each delivered strong results in 3Q22 with growth of 26.1 percent and 9.4 percent respectively.
The report said Canon’s ink cartridge segment had a rebound compared to the same period last year. Canon’s ink tank growth was supported by good allocations and strong demand in most countries. Brother’s gains were helped by a healthy recovery in supply in many countries.