New Delhi, Feb 18 (IANS) Riding on Ink Tank printer sales, HP Inc maintained its leadership position in the Hardcopy Peripherals (HCP) market in India with a market share of 39.1 per cent in the calendar year 2019, the International Data Corporation (IDC) said on Tuesday.
HP's Ink Tank shipment grew by 14 per cent (year-on-year) as a result of strong channel schemes and end-user promotions. HP's share in the copier segment grew by 29.4 per cent (YoY) owing to strong channel push.
Epson maintained its second position with 26.8 per cent market share while Canon registered 19.9 per cent market share. In the Ink Tank segment, Canon witnessed a strong growth of 15.7 per cent.
Overall, the India HCP market shipped 3.5 million units in 2019 and registered a year-over-year (YoY) decline of 4.7 per cent due to weak consumer segment demand.
In the fourth quarter of 2019, the market shipped 0.79 million units, a YoY decline of 7.3 per cent, according to the latest “IDC Worldwide Quarterly Hardcopy Peripherals Tracker, 4Q19”.
“Ink Tank printers grew by 7 per cent and now command 73.2 per cent of the inkjet market. The laser copier segment also noted a growth of 6.9 per cent,” said Bani Johri, Market Analyst, IPDS, IDC India.
The annual decline was primarily from laser printers (excluding copiers) declining by 11.8 per cent, as the market continued to be impacted by weak demand as well as migration to Ink Tank printers.
The year ended with the inkjet market commanding more than half of the market.
Inkjet printer shipments declined by 2.9 per cent (YoY) with a contribution of 52.3 per cent to the overall India HCP market.
The decline in inkjet printer shipments was led by ink cartridge printers, which recorded a steep YoY decline of 23.8 per cent.
The overall laser printer market declined YoY with the laser copier declining by 12.4 per cent, its sharpest decline since 4Q16.
“IDC expects the overall HCP market to remain stable in the first quarter of this year led largely by Ink tank printers as vendors continue pushing them aggressively, while laser printers will continue to decline,” said Nishant Bansal, Research Manager, IPDS, IDC India.