Home »Market News» Indian HCP market grows 103.5% year-on-year in the second quarter of 2021
The Indian HCP market shipped 700,000 units in the second quarter of 2021, a year-on-year increase of 103.5%.
The Indian hard copy peripherals (HCP) market shipped 700,000 units in the second quarter of 2021, a decrease of 24.1% (QoQ) from the previous quarter, but a year-on-year increase of 103.5% (YoY), according to the International Data Corporation (IDC) 2021 The global quarterly hard copy peripheral tracker released in the second quarter. However, due to the nationwide blockade, the base figure in the second quarter of last year was extremely low, which was the highest growth rate ever.
The inkjet business grew by 71.9% year-on-year, partly due to lower shipments in the second quarter of 2020, and partly due to continued demand from the home business in the second quarter of 2021. As schools and universities are forced to continue virtual courses, the demand from parents and students remains strong. However, due to the second wave of COVID-19, multiple states were blocked and local supply chains were disrupted, so this demand could not be fully met. In addition, the problem of chip shortages has been plagued the industry, which has led to various brands struggling to stabilize the supply of ink cartridge printers.
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As SOHO (small office, home office), SMB and a few medium-sized enterprises did not close down, the laser printer (including copier) sector, supported by the strong performance of laser printers (excluding copiers), recorded a year-on-year growth of 175.1%, which is different from last year. The operation is completely closed during the second wave. As most companies extended their employees' time at home during the second wave, the laser copier business increased slightly by 27.8% year-on-year.
"With a market share of 66.7%, the laser A4 multifunction printer segment has achieved the highest market share so far. For some brands (such as HP), this is the withdrawal of certain 12A toner-based printers from the market The result of the strategic decision of the company. For other companies such as Brother, this is the result of repeated strict blockades in Vietnam. Vietnam is the production center of certain single-function machines from suppliers. In the field of laser copiers, some brands perform very well in the color category. Excellent, so that the overall market share of laser copiers in the color category reached 15.2%, the highest so far. This is the acceptance after the new models launched last year and the profitable pricing options offered," IDC India IPDS Market Analyst Bani Johri said on key market trends.
Hewlett-Packard (excluding Samsung) maintains a leading position in the entire HCP market with a share of 36.3% and a year-on-year increase of 148.3% in shipments. The growth was led by the laser A4 printer division, of which HP increased by 396.9% year-on-year, maintaining a 57.5% market share as in the previous quarter. After HP faces a severe supply shortage in the second quarter of 2020, it has grown exponentially. In the inkjet sector, HP grew by 47.4% year-on-year, mainly due to its ink cartridge shipments, as HP's ink cartridge supply was interrupted in the second quarter of 2021.
Epson ranked second in the overall HCP market with a market share of 29.2%, a year-on-year increase of 103.8%. In the inkjet field, it continues to maintain its leading position in the market with a 47.0% share. The fact that Epson did not face a severe supply shortage of its fast-moving models during the quarter contributed to their growth.
Canon recorded a year-on-year growth of 79.9%, occupying the third place in the entire Indian HCP market, occupying 22.6% of the unit market share. In the inkjet field, Canon achieved a year-on-year growth of 64.1% with the support of the ink cartridge field, although it was struggling with the shortage of certain ink cartridge models. In the laser field (including laser copiers), Canon maintained its second position with a market share of 25.0%, while struggling to supply its best-selling models. In the field of laser copiers, Canon increased by 43.2% year-on-year, and continued to lead the copier field with a market share of 35.8%.
"Various constraints such as chip shortages, rising component prices, and increased fuel and transportation costs will continue to affect the supply of printers. However, as most students continue to take virtual courses, we can expect the demand for ink cartridge printers in the consumer sector to continue to grow Business needs depend on two factors, the possible third wave and employee vaccinations. Many large companies plan to have 100% of their employees fully vaccinated in the next few months before resuming the office, which may drive the fourth wave Quarterly demand for laser copiers," said Nishant Bansal, senior research manager at IDC India’s IPDS.
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