Global shipments of hardcopy peripherals (HCP) showed signs of recovery in Q3 2024, marking the first year-on-year growth after five consecutive quarters of decline, according to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker.
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In Q3 2024, worldwide HCP shipments increased by 3.8% compared to the same period last year, totaling approximately 20.3 million units. This growth was largely driven by improving economic conditions, which encouraged higher spending among both consumers and businesses. While the US and China reported shipment declines of 2.0% and 8.8% respectively, most other regions experienced gains, with Asia-Pacific (excluding Japan) leading the recovery. The region recorded a 12.3% increase in shipments, reaching 3.7 million units.
Promotional campaigns tied to upcoming Black Friday and Christmas holidays also contributed to the uptick. HP and Epson performed particularly well, thanks to strong sales of their ink tank printers. HP’s shipments rose by 8.1%, benefiting from growing demand for affordable, high-yield ink models among home users. Similarly, Epson experienced a 9.4% increase, maintaining its dominance in the ink-tank market, especially in educational settings where reliable and economical printing remains essential.
HP retained its position as the largest global HCP vendor, with a 35.3% market share, followed by Epson and Canon. Despite the overall market recovery, Canon saw a 3.7% decline in shipments this quarter. This contrasts with the situation a year ago , when Canon was the only major vendor to report growth while its competitors faced sharp declines ranging from 0.6% to 23.2%.
| Companies | 2024 Q3 Unit Shipments | 2024 Q3 Market Share | 2023 Q3 Unit Shipments | 2023 Q3 Market Share | Unit Shipment Growth |
| HP Inc. | 7,171,861 | 35.3% | 6,600,702 | 33.7% | +8.7% |
| Epson | 4,421,924 | 21.7% | 4,043,395 | 20.6% | +9.4% |
| Canon Group | 4,323,021 | 21.2% | 4,489,144 | 22.9% | -3.7% |
| Brother | 1,904,206 | 9.4% | 1,839,875 | 9.4% | +3.5% |
| Pantum | 481,128 | 2.4% | 410,763 | 2.1% | +17.1% |
| Others | 2,041,903 | 10.0% | 2,216,216 | 11.3% | -7.9% |
| Total | 20,344,043 | 100.0% | 19,600,095 | 100.0% | +3.8% |
Source: RTM World
Covered By: Imaging Solution / IDC
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