Worldwide Hardcopy Peripherals Shipments Decreased 7.9% Year Over Year in the Third Quarter of 2023, According to IDC

The global hardcopy peripherals market recorded 19.5 million units shipped in the third quarter of 2023 (3Q23), down 7.9% compared to the third quarter of 2022. The decline was caused by sluggish consumer demand and a pessimistic economic outlook, according to new data from the International Data Corporation (IDC) Worldwide Quarterly Hardcopy Peripherals Tracker. In addition, the laser segment has been affected by cannibalization from the Ink Tank segment, which is valued for its cost-effectiveness.

Notable highlights from the quarter include:

• The United States was the top geographic market with a year-over-year increase in shipments of 7.5%. Meanwhile, China and Western Europe, the next largest geographic regions, saw shipments decline 20.5% and 11.6%, respectively.
• Canon and Epson were the main drivers for the year-over-year growth in the U.S. market. Epson's expansion was due to shifting user preference towards ink tank models in the commercial and SOHO space, while Canon's growth was from its recovery in the A4 color laser segment, which was the hardest hit segment during the supply chain crisis, starting in 2Q21.
• Canon, the number 2 company overall, outperformed all other companies in the top 5. The vendor increased shipments 4.2% year over year to nearly 4.5 million units shipped globally. An aggressive pricing strategy and expansion in product models were responsible for its positive growth.

Notes:

• IDC tracks A2-A4 devices in the Quarterly Hardcopy Peripherals Tracker.
• Hardcopy Peripherals include single-function printers, multifunctional systems (MFPs), and single-function digital copiers (SF DC). Data for all vendors are reported for calendar periods.

In addition to the table above, a graphic illustrating the worldwide market share of the top 5 hardcopy peripheral companies over the previous five quarters is available by viewing this press release on IDC.com.

For more information about IDC's Worldwide Quarterly Hardcopy Peripherals Tracker, please contact Phuong Hang at [email protected].

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