Trends
Global hardcopy peripheral shipments drop 17.6% in Q1 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 (IDC) 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.
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Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q1 2024 (based on unit shipments) |
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| Companies | 1Q24 Unit Shipments | 1Q24 Market Share | 1Q23 Unit Shipments | 1Q23 Market Share | 1Q23/1Q22 Growth |
| 1. HP Inc. | 6,570,320 | 34.9% | 8,226,438 | 36.0% | -20.1% |
| 2. Epson | 4,097,199 | 21.8% | 5.093,033 | 22.3% | -19.6% |
| 3. Canon Group | 3,591,857 | 19.1% | 4,175,621 | 18.3% | -14.0% |
| 4. Brother | 1,759,218 | 9.4% | 1,912,896 | 8.4% | -8.0% |
| 5. Pantum | 530,127 | 2.8% | 615,714 | 2.7% | -13.9% |
| Others | 2,259,778 | 12.0% | 2,798,004 | 12.3% | -19.2% |
| Total | 18,808,499 | 100.0% | 22,821,706 | 100.0% | -17.6% |
| Source: IDC Worldwide Quarterly Hardcopy Peripherals Tracker, May 31, 2023 | |||||
CT Bureau
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