Worldwide shipments of hardcopy peripherals declined 17,6% YoY to 18,8-million units in the first quarter of 2024 (1Q24). Shipment value also contracted 15,6% YoY during the quarter to $9,3-billion, according to International Data Corporation’s latest Worldwide Quarterly Hardcopy Peripherals Tracker.
Other notable highlights from the report 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 favourable comparisons. In addition, vendors have restricted shipments to address reduced profitability following recent periods of price reductions and high channel inventory.
* While all the top five vendors experienced YoY contractions, Brother saw the smallest decline at -8%. Brother recorded YoY 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-centred channels.
| Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q1 2024 (based on unit shipments) | |||||
| 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 | |||||