NEEDHAM, Mass., November 26, 2024 – The global HCP market rebounded in the third quarter of 2024, achieving a 3.8% year-over-year (YoY) growth to approximately 20.3 million units shipped in., This marks a positive shift following five consecutive quarters of YoY declines, according to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker.
While the US and PRC experienced YoY declined -2.0% and -8.8%, respectively, all other regional markets reported YoY increases. 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% YoY to $USD 9.4 billion. Notable highlights from Q3 2024 include:
This quarter marks the first time since Q4 2022 that one of the top 3 regions recorded double-digit YoY expansion; APeJC grew +12.3% to approximately 3.7 million units shipped. This growth was bolstered by a positive economic outlook which enhanced consumer and business spending.
HP and Epson, two of the top three vendors, showed YoY increases, +8.1% and +9.4%, respectively. Both are doing well with their ink tank 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, ompany Share, and Year-Over-Year Growth, Q3 2024 (based on unit shipments)
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A graph with numbers and lines Description automatically generated with medium confidence For more information about IDC's Worldwide Quarterly Hardcopy Peripherals Tracker, please contact Phuong Hang at phang@idc.com. About IDC Trackers IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools. Click here to learn about IDC's full suite of data products and how you can leverage them to grow your business. About IDC International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly owned subsidiary of International Data Group (IDG), the world's leading tech media, data, and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights. |
