Global Printer Market Recovers in Q4 2024

According to IDC Worldwide Quarterly Hardcopy Peripherals Tracker, global market of hardcopy peripherals (HCP) experienced a year-on-year growth of 3.1% in the fourth quarter of 2024. This marks the second consecutive quarter of growth since Q3 2024, before which global shipment had been experiencing continual decline for five quarters.

During Q4, a total of approximately 22 million units were shipped worldwide. When segmented by regions, results showed variations. Out of nine regional markets, five reported positive growth to different extents. Latin America showed a remarkable rise of 29.5%, followed by Canada and Europe, growing by 10.6% and 10.5% respectively. Asia Pacific (excluding Japan and PRC) and Middle East & Africa experienced relatively stabler increases by 5.4% and 4.3% each.

Breaking down by companies, except for Canon which underwent a slight slip of 0.9%, all major printer OEMs recorded growth. HP, Epson and Canon accounted for the top three market shares, representing 34.2%, 22.5% and 20.4% respectively, while Pantum remained the quickest grower for several quarters, rising by 14.7% in the fourth quarter.

Companies	4Q24 Unit Shipments	4Q24 Market Share	4Q23 Unit Shipments	4Q23 Market Share	4Q24/4Q23 Growth
1. HP Inc.	7,502,356	34.2%	7,055,552	33.2%	+6.3%
2. Epson	4,944,913	22.5%	4,693,384	22.1%	+5.4%
3. Canon Group	4,466,240	20.4%	4,505,969	21.2%	-0.9%
4. Brother	2,146,550	9.8%	2,011,944	9.5%	+6.7%
5. Pantum	639,777	2.9%	557,970	2.6%	+14.7%
Others	2,245,449	10.2%	2,457,984	11.5%	-8.6%
Total	21,945,285	100.0%	21,282,803	100.0%	+3.1%

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Global Printer Market Recovers in Q4 2024