Epson, Canon, HP and Brother are the leading suppliers in the HCP printer market in ASEAN region in the second quarter of 2024, IDC report said.
IDC has revealed the hardcopy peripherals market share of Epson (40 percent), Canon (31 percent), HP (15 percent), Brother (11 percent) and Fujifilm (2 percent).
Epson
Epson has maintained its leadership in ASEAN’s ink tank market. Demand for Epson Inkjet printers fell as a result of overall drop in demand. Epson faced lower shipment in its key markets, namely Indonesia and the Philippines. Epson’s annual printer shipment for 2024 will decline.
Canon
Canon has maintained its printer market share in Thailand and its position in Indonesia, Malaysia and the Philippines throughout 2023. Canon’s inkjet shipments in 2024 are yet to show signs of recovery. Canon’s laser printer products are slowing down in Indonesia and Vietnam, despite winning government accounts earlier.
HP
HP has secured a higher share in the ink tank market in countries like Indonesia, Malaysia, and the Philippines with their Smart Tank series. HP’s printer shipment slowed down significantly in the first half of 2024.
HCP market
HCP market in ASEAN region reached 1.24 million units in the second quarter of 2024 (2Q24), 6.4 percent lower than the 1.32 million units shipped in Q2 2023.
Inkjet declined by 2.4 percent. Laser devices declined by 13.6 percent. Serial Dot Matrix (SDM) printers declined by 44.3 percent.
Ink cartridge machines market fell in 2024 due to the strong appreciation of consumers and MSMEs for ink tank machines in Indonesia and Malaysia.
Philippines sees room for growth for ink cartridge machines due to back-to-school and home printing, and opportunities from first-time users. In Thailand and Singapore, users look for more cost-effective and long-term decisions when purchasing technology products and opt to buy ink tank printers rather than cartridge models.
A3 market declined by 8.2 percent and the A4 market fell by 14.1 percent. This market situation is due to slower demand from the commercial market, as government tender fulfilments, businesses, and corporations primarily drive copiers and laser printers.
“As the overall region saw higher stock in key markets, IDC anticipates a softened recovery towards the latter half of 2024. Home and SMB users continue to drive the adoption of ink tanks, which have been followed in commercial markets too,” says Leonard Adiarto Sudjono, Senior Research Analyst at IDC Asia Pacific.
