India HCP market continued the momentum by clocking a healthy year on year growth of 8.5% in 2018Q1 shipping 885,826 units, as per latest IDC Asia Pacific Quarterly Hardcopy Peripherals Tracker, 2018Q1.
Inkjet shipments grew by 10.7 percent year on year with overall shipments of 397,901 units while laser printers including copiers saw a year on year growth of 12.5 percent with overall shipments touching 435,491 units. India Laser market was the second-highest market in the entire Asia Pacific region excluding Japan, unit wise. Continuing the demand impetus from GST implementation, Laser printers saw an increased traction from small and medium enterprises.
“Q1 traditionally sees strong demand from government and 2018Q1 was no different with the demand majorly coming from the Education segment through Government. Although the volume of Government contracts has decreased, the frequency of orders has increased significantly. The demand for original copiers has increased due to Government clamp down on the reconditioned copier market by seizing shipments and cancelling licenses of distributors dealing in such products,” says Bani Johri, Market Analyst, IPDS, IDC India
HP Inc. maintained its position as the overall market leader in HCP with a share of 39.2 percent and a 3.3 percent year on year growth. The launch of 6 new laser models, high traction for entry level Laser segment and end user focused promotions helped HP Inc increase its dominance in the Laser HCP (Printer-based) market by 2.9 percent over 2017Q4.
Epson sustained its 2nd position in the HCP market by clocking 27.4 percent year on year growth. It also continued its leadership in inkjet printer market by retaining its first position with a unit share of 50.3 percent and a 29.7 percent year on year growth, primarily due to the growth of its L-series models.
Canon, recorded year on year growth of 3.5 percent and occupied the 3rd position in the HCP market. Laser copier leads the way clocking year on year growth of 32.6 percent. It maintained its number one position in the copier market as well with 23.3 percent unit market share.
“Print security related concerns and need for digitization will result in strong demand for laser copiers across verticals. However, vendors will be under stress on account of Rupee depreciation and might be forced to relook at the prices,” says Nishant Bansal, Research Manager, IPDS, IDC India.