IDC: Bangladesh HCP Market Shipment Grows YoY in Q2
According to IDC, Bangladesh’s hardcopy peripherals (HCP) market registered a shipment of 0.05 million units in the second quarter of 2022 (Q2, 2022), up 43.3% year-over-year (YoY) but down 14.6 % quarter-over-quarter (QoQ). The print market includes inkjet printers, laser A3/A4 printers and copiers, serial dot matrix printers, and line printers.
The inkjet segment noted a YoY growth of 36.1%. The channel partners noted a huge demand for inkjet printers as the market opened in Q2, 2022 post high covid cases in Q1, 2022, but it was limited by low shipments from key vendors. HP faced a huge shortage of inkjet printer inventory in Q1, 2022. On the other hand, companies like Brother and Epson were able to secure good allocation despite the ongoing stock issues as the market continues to benefit from consumer demand and the recovery of smaller and medium businesses.
The laser segment (including copiers) recorded a QoQ decline of 27.9% while the laser copier segment observed a YoY growth of 136.5%, which can be attributed to the increasing demand for monochrome and color copiers from the infrastructure and corporate segment. The laser printer segment observed a QoQ decline of 28.5%. This comes at the back of a severe shipment shortage for HP laser printers caused by production issues associated with entry-level monochrome printers.
“Increased covid cases and lockdown in the origin country, semiconductor shortage, and USD price fluctuations affected the overall HCP market in Bangladesh and resulted in the QoQ decline in Q2, 2022. Despite having a huge demand, laser OEMs were not able to ship the inventory in Q2, 2022. On the other hand, in the inkjet segment, the situation was better, where most vendors were able to ship more units than in the previous quarter. Also, imports through the unauthorized channel are posing a challenge for authorized channel partners,” says Apoorv Kandharkar, Market Analyst, IPDS, IDC India.
Top Five Companies in Overall Hardcopy Peripherals Bangladesh (HCP) Market:
Top Three Companies Highlights:
Canon recorded a YoY growth of 67.7% and occupied the first position in the overall Bangladesh HCP market, capturing a market share of 42.3%. In the inkjet segment, Canon observed a YoY growth of 120.8% at the back of its ink tank segment. In the laser segment (including laser copiers) Canon occupied the first position with a market share of 46.1%. The company’s growth in terms of market share was driven by double-digit gains in laser shipments, specifically in the under $200 price band where demand was more from customer segments like SOHOs, corporates, and universities.
HP Inc. (excluding Samsung) recorded a YoY and QoQ decline in both inkjet and laser segments in the overall Bangladesh HCP market capturing a unit share of 22.6%. Inkjet shipment recorded a QoQ decline of 39.3%. Whereas laser shipment recorded a QoQ decline of 74.0%. The decline in both inkjet and laser segments can be attributed to the short supply caused by less production of models that are under the $200 price band. Supply chain and component availability issues hampered the production of HP models in the origin country.
Brother occupied the third position in the overall Bangladesh HCP market with a market share of 12.6% while registering a YoY growth of 46.8%. In the inkjet segment, Brother occupied the fourth position in the market with a share of 18.9% and a YoY growth of 4.8%. Brother was able to win some government deals and supply them with color inkjet multi-function printers. Brother recorded a YoY growth of 25.9% in the laser segment. This growth can be attributed to the large shipment of more than 30 ppm printers whose demand was generated from banks and SMBs.
IDC Bangladesh Market Outlook:
“The laser printer shortage scarcity will continue till the end of 3Q22 as taka-USD exchange rates could pose a challenge for the importers and distributors in the coming months,” says Bani Johri, Senior Market Analyst, IPDS, IDC India.
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