IDC Revealed Q4 Asia/Pacific HCP Market Report

IDC Revealed Q4 Asia/Pacific HCP Market Report

IDC recently disclosed the hardcopy peripherals (HCP) market performance in the fourth quarter of 2023 within Asia/Pacific region, excluding Japan (APeJ).Overall, the HCP market experienced a decline of 24.1%.

According to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker, a total of 7.6 million units were shipped across the region during this period. Most types of products observed decreases to different extents:

• Inkjet printers: declined by 30.2%
• Laser devices: declined by 13.5%
• Serial Dot Matrix (SDM): declined by 29.4%

Even though regional economic is still recovering from the post-pandemic trauma, the market continued to face challenges including geopolitics and rising inflation rates. Inkjet market, the dominant sector of the field, saw a more significant downturn in Q4. This was primarily attributed to a slump in ink cartridge market and lower demands for consumer-facing products, particularly ink cartridge printers. Consequently, most countries experienced drops in the ink cartridge sector except for Bangladesh, Vietnam, India, Philippines, Malaysia and Thailand, where growth was observed due to replacements of older machines purchased before the pandemic.

Additionally, Q4 is regarded as a pre-election period in certain countries, such as India, Indonesia, Korea and Sri Lanka. Therefore, government tend to withdraw budget from IT investments while favoring government expenditure. Businesses were also more willing to refrain from large expenses due to political uncertainty, which partially explain the lowering market performance.

HP dominated the regional market in Q4, followed by Epson and Canon. One notable trend companies have observed is that while consumer preference have been shifting to ink tank printers, the transition procedure is beginning to stabilize. Demands for ink tanks started to cool down after quarters of robust growth.

Although HCP market in APeJ has experienced a major downturn in the second half of 2023, Yi Karl Tai, Research Analyst at IDC Asia Pacific, suggests that a drastic rebound is not expected in the short term, at least not in the first half of 2024.

Related:

• IDC: Indonesia HCP Market Report Released
• IDC: Global HCP Market Shipments Decline in Q3
• IDC: APeJ HCP Market Shipments Decline in Q3
• IDC: Western European HCP Market Shipments Fall in Q3
• IDC: China HCP Market Decreases in Q3

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