Growth Continues Unabated in Middle East and Turkey Hardcopy Peripherals Market as Concerns over Recession are Consigned to the Memory Bank
08 Jun 2014
The Middle East and Turkey hardcopy peripherals (HCP) markets continued their strong recovery from recession by posting their third successive quarter of growth in Q1 2014, according to the latest insights from International Data Corporation (IDC). The research and advisory firm's Quarterly Hardcopy Peripherals Tracker for Q1 2014 shows that shipments to the combined region were up 13.1% in volume and 18.2% in value year on year, with all the key country markets growing at impressive double-digit rates.
A stable economic outlook for the region, coupled with an easing of political tensions, has resulted in an increase in investment in infrastructure projects. This has, in turn, had a positive impact on demand for hardcopy peripherals, with color laser devices proving particularly popular in Q1 2014, reporting phenomenal year-on-year growth of 56.1% to total almost 100,000 units. Color laser revenues grew at a slower rate of 38.3% due to declining average sales prices (ASPs), and IDC expects to see an even faster erosion of ASPs in this segment over the coming quarters as vendors strive to increase the acceptance levels for color printers across the region.
"The successful resolution of the damaging inventory shortages that were experienced in Q1 2013 (particularly in the color laser segment), together with the new distribution partners appointed by some vendors in the region, have had a positive impact on shipment growth in the Middle East region," says Ashwin Venkatchari, senior program manager for imaging, printing, and document solutions at IDC Middle East, Africa, and Turkey. "While the trend is a very clear indication that the region's HCP market has well and truly come out of recession, the immediate challenge facing vendors is how effectively they can protect and grow their market shares by offering attractive value propositions for their products and services."
Overall inkjet shipments were up 7.0% year on year in Q1 2014 to total approximately 443,000 units. Revenues grew at a much higher rate of 20.5%, with growth in the higher price bands (particularly the $400+ category) serving as the major driver. Mono laser shipments increased 12.9% over the same period to total almost 498,000 units, with revenues up 11.3%. The mid-to-high-end segment was the primary driver of growth in the mono laser category.
Serial dot matrix (SDM) shipments also saw healthy year-on-year growth in Q1 2014, at 9.6% in volume terms, thanks largely to strong tender activity in Saudi Arabia and significant reseller demand in the UAE and the rest of Middle East. Revenues, however, were down 10.9% over the same period.
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For more information about IDC’s Quarterly Hardcopy Peripherals Tracker, please contact Ashwin Venkatchari at email@example.com.
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