25 Aug 2022

India’s Print Market Registers a YoY Growth of 20.5% in 2Q22 as Improved Business Sentiments Drive Commercial Demand, Reports IDC

INDIA, August 25, 2022 – According to the latest data released by International Data Corporation ’s (IDC) Worldwide Quarterly Hardcopy Peripherals Tracker India's Print market registered a shipment of 0.84 million units in 2Q22 (Apr-Jun) growing by 20.5% year-over-year (YoY) however, declining by 16.7% from a quarter-over-quarter (QoQ) perspective. The print market includes inkjet printers, laser A3/A4 printers and copiers, serial dot matrix printers, and line printers.

The inkjet segment grew YoY by 23.1% following improved stock availability over the previous year, same period. From a QoQ perspective, the segment however declined by 14.6%, following a slight lull in demand from the consumer segment. With decreased footfall in 2Q22 along with summer vacations in schools and colleges, the market demand is likely to pick up in 3Q22 in anticipation of the festive period sale.

The laser printers’ segment (including copiers) recorded a YoY growth of 19.6% even as the vendors struggled with the availability of popular entry-level models. The laser copier segment observed an even better YoY growth of 82.0%. This comes at the back of the demand from the government and the banking segment, which continued its momentum into Q2. In addition, the market finally observed a revival of demand from large enterprises in 2Q22 which had remained stalled since COVID.

“The color Laser copier shipments crossed the pre COVID level, having achieved 15.1% market share, the second highest in history. This comes at the back of the introduction of new color models at the end of 1Q22 accompanied by the Government’s growing appetite for the same. On the Laser printer based front, a gradual movement in the Color segment from 1-40 ppm to 40+ ppm speed range was observed following the shift in market demand, supplemented by lucrative schemes on high-speed printer-based color laser printers by the vendors,” says Bani Johri, Senior Market Analyst, IPDS, IDC India.

Overall Top 3 Companies in India Hardcopy Peripherals (HCP) Market:

HP Inc. (excluding Samsung) maintained its leadership in the overall HCP market with a share of 43.8% and a YoY growth in shipment of 45.1%. The Inkjet segment led the growth, wherein HP grew by 70.5% YoY, increasing its market share to 37.3%, following the increased availability of its ink tank models.

In the Laser segment (including the copier segment) HP grew by 26.8. HP particularly grew in the Laser copier segment with a QoQ growth of 5.3%, thus occupying the third position as a result of its increased focus on SMB and corporate accounts.

Epson occupied the second position in the overall HCP market with a market share of 24.3% while registering a marginal YoY growth of 0.2% as it continued to face challenges in securing sufficient stock because of production issues, particularly in the ink tank multifunction printer’s segment. In the inkjet segment, it occupied the first position in the market with a share of 38.3%.

Canon recorded a YoY growth of 9.9% and occupied the third position in the overall India HCP market, capturing a unit market share of 20.6%. In the inkjet segment, Canon observed a YoY growth of 13.4% on the back of the increased availability of its single-function models. In the laser segment (including laser copiers) Canon maintained its second position with a market share of 22.0% while growing YoY by 5.1%. In the laser copier segment, Canon grew by 82.3% YoY and continued to lead the copier segment with a 35.9% market share following the launch of its new color models.

IDC India Print Market Outlook:

“Most of the vendors have increased their pricing by 3-8% across all models, some already having introduced a price hike earlier in the year. While this is not expected to dampen the demand from the commercial segment, the demand from the consumer segment is likely to remain dull in 3Q22 as most of the demand seems to have been met in the previous few quarters. The upcoming festive season along with the online festive sales may provide a much-needed boost to the consumer market,” adds Johri.

Note: IDC defines hardcopy peripherals (HCP) as the group of hardware technologies that connect to a computer, digital camera, camera phone, or memory card to capture, print, or view content. IDC categorizes hardcopy peripherals as printers, multifunction peripherals (MFPs), single-function digital copiers (SF DCs), and single-function fax (SF FAX).

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For more information about this report, trends, or questions for analysts, please contact Shivani Anand Senior Marketing Specialist at sanand@idc.com . You can also follow IDC India’s Twitter and LinkedIn  pages for regular updates on IDC’s research & events.

About IDC Trackers

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About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC  and LinkedIn. Subscribe to the IDC Blog for industry news and insights.

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For more information, contact:

Shivani Anand
sanand@idc.com
+91 9910466896