Hardcopy Peripherals Market Insights

Worldwide Hardcopy Peripherals Shipments Decreased 17.6% Year Over Year in the First Quarter of 2024, According to IDC

NEEDHAM, Mass., June 5, 2024 – Worldwide shipments of hardcopy peripherals declined 17.6% year over year to 18.8 million units in the first quarter of 2024 (1Q24). Shipment value also contracted 15.6% year over year during the quarter to $9.3 billion, according to new data from the International Data Corporation Worldwide Quarterly Hardcopy Peripherals Tracker.

Notable highlights from the quarter include:

• The three largest regional markets saw annual declines in unit shipments, ranging from 19.9% to 18.2%. One of the reasons for the contractions was that the same period last year had a higher base leading to less favorable year-over-year comparisons. In addition, vendors have restricted shipments to address reduced profitability, following recent periods of price reductions and high channel inventory.
• While all of the top 5 vendors experienced year-over-year contractions, Brother saw the smalled decline at -8.0%. Brother recorded year-over-year growth in the Asia/Pacific region (excluding Japan and China) thanks to its ability to increase its shipments of Ink Tank models through recruitment of B2B-centered channels.

Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q1 2024 (based on unit shipments)

Data table for "Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q2 2023 (based on unit shipments) " chart

Company	1Q23 Market Share %	2Q23 Market Share %	3Q23 Market Share %	4Q23 Market Share %	1Q24 Market Share %	2Q24 Market Share %
HP Inc	36.0%	34.7%	33.7%	33.2%	34.9%
Epson	22.3%	18.9%	20.6%	21.9%	21.8%
Canon Group	18.3%	21.1%	22.9%	21.2%	19.1%
Others	12.3%	11.8%	11.3%	11.6%	12.0%
Brother	8.4%	10.4%	9.3%	9.4%	9.4%
Pantum	2.7%	3.0%	2.1%	2.6%	2.8%
Total	100.0%	100.0%	100.0%	100.0%	100.0%