Printer/Copier Market in India Records Third Consecutive Quarter of Growth

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While the market for printers and copier/MFPs is slowing in much of the Western world, the hardcopy market in India continued its momentum by clocking a healthy year-over year growth of 8.5 percent in first-quarter 2018, with 885,826 units shipped, as per the latest IDC Asia Pacific Quarterly Hardcopy Peripherals Tracker, 2018Q1.

Inkjet shipments grew by 10.7 percent year-over year, with overall shipments of 397,901 units, while laser printers, including copiers,  saw year-over year growth of 12.5 percent, with overall shipments reaching 435,491 units. The India laser market was the second-highest market in the entire Asia Pacific region, excluding Japan, shipment-wise. Continuing the demand impetus from GST (Goods and Service Tax) implementation, laser printers saw increased traction from small and medium enterprises.

Bani Johri, market analyst, IPDS, for IDC India, commented: “(The) first quarter traditionally sees strong demand from government and first-quarter 2018 was no different with the demand majorly coming from the education segment through government. Although the volume of government contracts has decreased, the frequency of orders has increased significantly. The demand for original copiers has increased due to government clamp down on the reconditioned copier market by seizing shipments and cancelling licenses of distributors dealing in such products.

“From an inkjet perspective, the ink-tank market continued to rise steadily and now commands almost 70 percent of the inkjet market. This can be majorly attributed to the launch of new ink tank models by leading vendors, targeted at SMBs and Home users, as well as increased promotional activities by them,” said Johri.

Overall Hardcopy Market in India

Top-Three Brand Highlights

HP Inc. maintained its position as the overall market leader, with a share of 39.2 percent and 3.3 percent year-over-year growth. HP Inc.’s launch of six new laser models, high traction from the entry-level laser segment, and end-user focused promotions helped HP Inc increase its dominance in the Laser HCP (Printer-based) market by 2.9 percent over fourth-quarter 2017. HP Inc. gained significant ground in the laser HCP (copier-based) segment, as well through increased channel presence. HP Inc. maintained its second position in the inkjet market with a market share of 29.3 percent.

Epson sustained its second position in the HCP market by clocking 27.4 percent year-over-year growth. It also continued its leadership in the inkjet-printer market by retaining its first position with a unit share of 50.3 percent and 29.7 percent year-over-year growth, primarily due to the growth of its L-series inkjet models. Epson’s focus on increasing its channel presence by incentivizing the regional distributors was the one of the key factors contributing to its market leadership in the inkjet category. Other contributing factors are boosting its online presence of its entry=level segment and refreshing its portfolio.

Canon Inc., recorded year-over-year growth of 3.5 percent and occupied the third position in the HCP market in India. Laser copier leads the way for Canon, recording year-over-year growth of 32.6 percent. Canon Inc. maintained its number-one position in the copier market as well, with 23.3 percent unit market share. IDC mainly attributes this trend to Canon witnessing increased demand from the government and its focus on championing the color segment and high-speed copiers through channel development and training of its sales representatives. In the inkjet market Canon saw strong year-over-year growth of 31.8 percent, as a result of its increased promotional activities for its ink-tank inkjet models.

IDC’s India Market Outlook

According to Nishant Bansal, research manager, IPDS, for IDC India: “(The) market is expected to continue the growth momentum in first-quarter 2018, as well with a healthy double-digit year-on-year growth led by inkjet printers. Ink-tank printers preference among consumers is increasing and vendors will look to aggressively push ink-tank printers through marketing, channel schemes, and end-user promotions. On the laser side, strong demand from SMB (small and mid-size business) and government will fuel the growth. Print security-related concerns and need for digitization will result in strong demand for laser copiers across verticals. However, vendors will be under stress on account of Rupee depreciation and might be forced to re-look at the prices.”

For more information on IDC, visit the firm here.

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