HP leads as India’s hardcopy peripherals market logs best quarter: IDC

The growth was primarily led by the inkjet segment, wherein HP grew by 109.4 per cent (YoY). However, its market share dropped to 22.7 per cent as it occupied the third position in the inkjet market, according to latest data released by the IDC.

New Delhi: HP Inc (excluding Samsung) maintained its leadership in the overall hardcopy peripherals (HCP) market with a share of 34.1 per cent and a growth in shipment of 39.6 per cent (on-year), as the overall HCP market recorded its best Q1 in terms of unit shipment, posting 38.5 per cent growth (YoY), a new IDC report showed on Wednesday.

The growth was primarily led by the inkjet segment, wherein HP grew by 109.4 per cent (YoY). However, its market share dropped to 22.7 per cent as it occupied the third position in the inkjet market, according to latest data released by the IDC.

The laser printers’ segment (including copiers) recorded a YoY growth of 26.3 per cent as the government placed multiple orders towards the end of its financial year.

“The government demand could not be fulfilled completely because of its move to delist products with country of origin as China from Government e-Marketplace (GeM). As a result, multiple vendors were impacted since many top-selling models were delisted from GeM,” informed Bani Johri , Market Analyst, IPDS, IDC India.

According to Nishant Bansal, Senior Research Manager, IPDS, IDC India, the consumer sentiment is expected to remain muted during Q2 as the country battles the second wave of the pandemic.

“Barring any third wave of infections or a prolonged second wave, we can expect some recovery in consumer spending towards the second half of 2021. Enterprise demand is expected to remain muted in Q2 owing to state lockdowns and continued work from home forcing offices to remain closed,” Bansal noted.

Epson occupied the second position in the overall HCP market with a market share of 30.4 per cent while registering a YoY growth of 27 per cent.

Canon recorded a YoY growth of 62.1 per cent and occupied third position in the overall India HCP market, capturing a unit market share of 22.8 per cent. In the inkjet segment, Canon observed a YoY growth of 98.6 per cent even though it struggled with the shortage of certain models.

In the inkjet segment, demand for printers remained strong from the home segment as schools and colleges continued to implement study from home.

Following this, the inkjet segment noted a YoY growth of 56.2 per cent, said the IDC.