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Publication date: 05 Sep 2023

European HCP Market Grows in Value Despite Double-Digit Drop in Units, Says IDC


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Prague, September 5 — European shipments of printers and multi-function peripherals (MFPs) declined 17.3% year on year to 4,375,000 units in the second quarter of 2023, according to the latest release of the Quarterly Hardcopy Peripherals Tracker published by International Data Corporation (IDC). Overall hardcopy peripheral (HCP) demand remains low as economic conditions, such as the slowdown in GDP growth and high inflation rate have a negative impact on consumer purchasing power and investment decisions in both the public and private sectors. Results for the first half of the year were also down, with shipments declining by more than 10% compared to H1 2022.

Despite a decline in the number of units sold, market value has seen an upward trajectory, attributed to the enhanced accessibility of devices, which fueled shipments of printing hardware, especially within the midrange and high-end color laser segments. As a result, the total HCP market value in Europe grew 1.5% year on year to reach $2.25 billion.

"Seeing the fourth consecutive quarter of year-on-year value growth on the European HCP market suggests that printing vendors have overcome major supply chain issues," states Michal Swiatek, research manager for Imaging, Printing, and Document Solutions at IDC Europe.

The top 5 vendors in terms of units on the European market remained unchanged from the previous year: HP Inc., Canon, Epson, Brother, and Pantum (in order). Out of those brands, Brother gained 3.2 percentage points in unit market share year on year due to enhanced product availability, which allowed the vendor to consistently resupply its channel.

The European HCP market is projected to keep contracting moderately in unit terms in 2023, with possible recovery in the laser segment starting from 2024 onwards.

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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 Follow IDC on Twitter at @IDC  and LinkedIn. Subscribe to the IDC Blog  for industry news and insights.