Worldwide Printer and Copier/MFP Shipments See Positive Growth
The global printer and copier/MFP market rebounded in the third quarter of 2024, achieving 3.8 percent year-over-year (YoY) growth to approximately 20.3 million units shipped. This marks a positive shift following five consecutive quarters of YoY declines, according to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker.
(Note that IDC tracks A2-A4 devices for its Quarterly Hardcopy Peripherals report. Hardcopy peripherals include single-function printers and MFPs.)
While the U.S. and People’s Republic of China (PRC) experienced YoY declines of -2.0 and -8.8 percent, respectively, all other regional markets reported YoY increases. IDC says growth in these markets was driven by improved economic conditions in some regions and attractive promotions from key vendors. The global shipment value for all devices also grew 1.1 percent YoY to $9.4 billion.
Notable highlights from Q3 2024 include:
- This quarter marks the first time since Q4 2022 that one of the top-three regions recorded double-digit YoY expansion; APeJC grew 12.3 percent to approximately 3.7 million units shipped. This growth was bolstered by a positive economic outlook which enhanced consumer and business spending.
- HP Inc. and Epson, two of the top three vendors, showed YoY increases, 8.1 and 9.4 percent, respectively. IDC says both are doing well with their ink-tank inkjet devices; HP appears to be targeting consumers looking for budget-friendly gift options for home or personal use during the Christmas shopping period. Epson continues its strong hold in the education segment, addressing higher print requirements for purposes such as worksheet and test paper printing.
| Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q3 2024 (based on unit shipments) | |||||
| Companies | 3Q24 Unit Shipments | 3Q24 Market Share | 3Q23 Unit Shipments | 3Q23 Market Share | 2Q24/2Q23 Growth |
| 1. HP Inc. | 7,171,861 | 35.3% | 6,600,702 | 33.7% | +8.7% |
| 2. Epson | 4,421,924 | 21.7% | 4,043,395 | 20.6% | +9.4% |
| 3. Canon Group | 4,323,021 | 21.2% | 4,489,144 | 22.9% | +4.3% |
| 4. Brother | 1,904,206 | 9.4% | 1,839,875 | 9.4% | -3.7% |
| 5. Pantum | 481,128 | 2.4% | 410,763 | 2.1% | +3.5% |
| Others | 2,041,903 | 10.0% | 2,216,216 | 11.3% | +17.1% |
| Total | 20,344,043 | 100.0% | 19,600,095 | 100.0% | +3.8% |
| Source: IDC Worldwide Quarterly Hardcopy Peripherals Tracker, November 7, 2024 | |||||
For more information about IDC’s Worldwide Quarterly Hardcopy Peripherals Tracker, contact IDC’s Phuong Hang at phang@idc.com.
More Resources
- September 2024: Worldwide Shipments of Printers and Copier/MFPs Again Decline
- June 2024: Worldwide Printer and MFP Shipments Down Again in First-Quarter 2024
- March 2024: March 2024: Worldwide Printer, MFP Shipments Down Again in Fourth Quarter
- December 2023: Global Printer and MFP Shipments Down Again for Third Quarter
- September 2023: IDC Reports Year-over-Year Decline for Printer/MFP Shipments in Asia-Pacific
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