Based on the International Data Corporation (IDC) latest data Worldwide Quarterly Hardcopy Devices Tracker India’s Printer market registered a shipment of 0.84 million units in 3Q21 from July to September is growing by 20.3% from quarter-over-quarter (QoQ) but get declined by 7.5% from year-over-year (YoY) perspective.
The printer market mainly consists of Inkjet printers, Laser A3/A4 printers and Copiers, Serial Dot Matrix Printers, and Line Printers. The inkjet printers get declined by 11.96% due to the low stock availability of ink cartridge printers. From QoQ’s view, the section raised by 21.8%, but HP delayed the 2Q21 shipment spill over into 3Q21. Additionally, with schools and colleges being forced to continue the online classes, demand increased in 3Q21.
The laser printers part recorded a YoY decline of 1.8%. The laser copier part observed growth of 15.1%. With the opening of the markets, the demand from the government increase in the number of new projects and execution of these which are on hold. The corporate sector, also observed an increase in demand for laser copiers as they resumed their operations.
Overall Top Companies in India Hardcopy Peripherals (HCP) Market:
HP Inc. is in the top position with a share of 46.9% and YoY growth in shipment of 2.3%.The growth was due to the inkjet printer segment; wherein HP grew by 9.1% YoY, increasing its market share from the last few quarters to 46.3%, thus replacing Epson‘s 1st position in the inkjet printer segment.
The growth came in the ink tank portfolio that grew by 53.5% YoY doubled with new models in 3Q21. In the Laser A4 printer-based segment, HP declined by 6.6% YoY as it struggled with product availability.
Epson is in 2nd position in the overall HCP market with a share of 20.7% and a YoY declination of 9.4% due to the challenges it faced in production. In the inkjet part, it is in 2nd position with a share of 32.0% and Epson particularly controlled the ink tank multi-function printer category.
Canon has a 25.4% YoY decline and ranked 3rd position in the HCP market, with a unit market share of 20.1%. In the inkjet section, Canon faced a YoY decline of 43.2% because of the old stock of certain Ink cartridge models.
In the laser segment, Canon is in 2nd position with a market share of 24.8% and YoY grew by 12.0%. In the laser copier section, Canon rose by 37.7% YoY and remained in the top position with a share of 35.1%.
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