Epson is still ASEAN’s top printer vendor for the second quarter of 2024 despite the drop the overall market has experienced.
As per market analytics firm IDC, the printer or hardcopy peripherals (HCP) market in ASEAN only shipped 1.24 million units in the second quarter of 2024, which is 6.4% lower than the 1.32 million units shipped in Q2 of 2023.
Still, Epson remained undisputed on top. However, they were not safe from the effects of the overall decrease in demand for inkjet printers.
They are followed by Canon, which managed to maintain its overall market share in different ASEAN countries, but there are signs that demand for their laser products is slowing down in some territories in the region.
Meanwhile, HP’s shipment figures show a significant slowdown in the first half of 2024 after the great success of its Smart Tank series last year.
IDC said that, compared to the same quarter last year, The inkjet market dropped by 2.4%, but is still an improvement over the previous quarter’s 20.2% annual decline.
Meanwhile, laser printers dropped by 13.6% YoY with little improvement over Q1 2024’s 16.7% annual decline. A similar declining trend is also seen in the serial dot matrix printers, which experienced a 44.3% YoY decline.
Printer vendors are experiencing different goods and bads per country. For the Philippines, ink cartridge machines still have the potential to grow due to home printing and the back-to-school season.