IDC Reports Decline of Global HCP Shipment in Q2

According to IDC Worldwide Quarterly Hardcopy Peripherals Tracker, global shipment of hardcopy peripherals declined by 1.5% in the second quarter compared to the same period last year.

Total device shipment resulted in 19.2 million, and shipment value has dropped to US$8.9 billion by 6.6%. Despite the decreases, they were much milder than the significant slump in the first quarter of 2024, 17.6% and 15.6% each in unit shipment and shipment value. Total shipments experienced a slow recovery of 1.2 million from 18.8 million units in the first quarter.

Declines have been observed in most countries and regions, including some top global markets. For example, China, one of the largest markets worldwide, showed the largest drop of 3.3% in the second quarter, which was mainly attributed to budget controls over commercial sectors as well as delayed government purchases. Certain countries, on the contrary, experienced increases to different extents. Take the United States as an example, its unit shipment grew by 0.6% year-on-year as a result of expanding demands for HP inkjet devices, especially ink tank models. HP benefited from this situation and boost its inkjet devices through eTailer channels and price reductions.

Breaking down into different vendors, Pantum saw accelerating growth speed for consecutive years. For the second quarter, it recorded a surge of 11.2% year-on-year. HP and Epson experienced slighter increases of 0.1% and 4.2% each. Notably, HP observed a profound rise of shipments to China, while Epson had a 5.6% gain in the Asia/Pacific (excluding Japan and China) region. Epson also reported continual growth in the education sector, whose threshold for printing is higher than other industries.

Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q2 2024 (unit shipments in millions)
Companies	24Q2 Unit Shipments	24Q2 Market Share	23Q2 Unit Shipments23Q2	Market Share	24Q2/23Q2 Growth
1. HP Inc.	6.8	35.3%	6.8	34.7%	+0.1%
2. Canon Group	3.9	20.6%	4.1	21.1%	-4.1%
3. Epson	3.8	20.1%	3.7	18.9%	+4.3%
4. Brother	1.9	9.8%	2.0	10.4%	-7.7%
5. Pantum	0.6	3.3%	0.6	3.0%	+11.2%
Others	2.1	11.0%	2.3	11.8%	-8.5%
Total	19.2	100.0%	19.5	100.0%	-1.5%
Source: IDC Worldwide Quarterly Hardcopy Peripherals Tracker, August 8, 2024

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IDC Reports Decline of Global HCP Shipment in Q2