Printer revenue drops 15.6% to $9.3 bn in first-quarter: IDC

Worldwide shipments of hardcopy peripherals — printer — declined 17.6 percent year over year to 18.8 million units in the first quarter of 2024 (1Q24), IDC said.
Printer market share Q1 2024 IDC reportShipment value of hardcopy peripherals — printer — fell 15.6 percent during the quarter to $9.3 billion, according to new data from IDC.

The three largest regional markets saw annual declines in unit shipments, ranging from 19.9 percent to 18.2 percent. One of the reasons for the contractions was that last year had a higher base leading to less favorable comparisons.

In addition, printer vendors have restricted shipments to address reduced profitability, following recent periods of price reductions and high channel inventory.

HP and Epson lost share in the printer market. Canon, Brother and Pantum have increased their printer market share.

HP has shipped 6.57 million printer units as compared with 4.09 million from Epson, 3.59 million from Canon and 1.75 million from Brother.

HP has achieved 34.9 percent share in the global printer business during first-quarter as compared with 21.8 percent for Epson, 19.1 percent for Canon, 9.4 percent for Brother and 2.8 percent for Pantum.

While all of the top 5 vendors experienced year-over-year contractions, Brother saw the smallest decline at 8 percent. Brother recorded growth in the Asia Pacific region (excluding Japan and China) thanks to its ability to increase its shipments of Ink Tank models through recruitment of B2B-centered channels.

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