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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.

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

CT Bureau

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