India HCP Market Touches High in CY 2018 Growing 5.5% YoY: IDC

India Hardcopy Peripherals (HCP) market posted yearly shipments of 3.7 million units in CY2018, registering a Year-on-Year (YoY) growth of 5.5%. In 2018Q4 the market posted shipments of approx. 0.85 million units, a YoY decline of 2.6%, as per latest IDC Asia/Pacific Quarterly Hardcopy Peripherals Tracker, CY2018Q4. While the months following the festive season, online sale are usually on the lower side but 2018Q4 saw an unusually low demand from the consumer end, a stark contrast with the overall CY2018 trend.

“The annual growth was led by Inkjet printers, specifically Ink Tank printers which grew by 21.4% and now command 68.4% of the overall Inkjet market in India. The online sales during 2018Q3 played a significant role in catering to the increased demand from the Consumer and SMB segment. The year ended with the Inkjet market commanding more than half of the HCP market followed closely by Laser,” says Bani Johri, Market Analyst, IPDS, IDC India.

Quarter Highlights: Inkjet printer shipments grew by 2.9% YoY with a contribution of 50.0% to overall India HCP market. Growth in inkjet printer shipments was led by Ink tank printers which recorded YoY growth of 10.5%. The overall laser printer market declined YoY by 4.8%. However, the laser copier market continued the growth momentum and registered a healthy YoY growth of 28.2%.

“IDC expects the overall HCP market to decline in 2019Q1 due to weak consumer and SMB sentiment.While overall inkjet market is expected to decline, Ink tank printers are likely to be the only bright spot in 2019Q1 as vendors continue pushing them aggressively. Moreover, the Government segment is likely to withhold on spending before the general elections leading to decline in demand for laser printers. Despite decline in government spending, demand for laser copiers is expected to remain steady owing to continued crackdown of refurbished copier market by government,” says Nishant Bansal, Research Manager, IPDS & PC, IDC India.