Inkjet printers fastest-growing in 2020, HP leads overall market.
PC and printer major HP Inc maintained its leadership in the overall Indian Hardcopy Peripherals (HCP) market with a share of 40.2 per cent and a year-on-year growth in shipment of 22.1 per cent in 2020, an IDC report said on Wednesday.
The growth was primarily led by the inkjet segment wherein HP grew by 51.7 per cent (YoY) and captured a market share of 33.8 per cent per cent, occupying the 2nd position, as it smoothened its supply and logistics issues to cater to the increased demand.
For the January-December 2020 period, the overall HCP market declined by 19.1 per cent mainly due to the laser segment (including copiers) which declined by 28.5 per cent, following the commercial market's struggle to resume operations during the Covid-19 crisis.
"In the commercial segment, the demand situation improved from a QoQ perspective as certain segments, primarily jobbers and SMBs/SOHOs, resumed full-time operations. However, demand from large corporates continued to be muted as the offices remain closed," said Bani Johri , Market Analyst, IPDS, IDC India.
The year 2020 observed high demand for Wi-Fi and ink tank printers which could be met partially as vendors struggled to furnish enough stock.
Vendors were challenged by the limited manufacturing capacity following the global surge in demand for Wi-Fi ink tank printers.
The Indian HCP market registered shipments of 0.95 million units during the fourth quarter posting a growth of 19.7 per cent (YoY), according to the IDC's 'Worldwide Quarterly Hardcopy Peripherals Tracker, 4Q20'.
The laser printers' segment (including copiers) recorded a YoY growth of 3.8 per cent at the back of laser printers (excluding copiers) as multiple delayed orders from the previous few quarters were executed in 4Q20.
Epson replaced Canon to occupy the second position in the overall HCP market with a market share of 26.2 per cent while registering a YoY growth of 14.9 per cent.
Canon recorded a YoY growth of 34.6 per cent and occupied the third position in the overall India HCP market, capturing a unit market share of 22.7 per cent.
