IDC Says Printer Market in Philippines Grew by 34.5% YOY in 1Q 2013

According to the International Data Corporation (IDC), the market for printing devices in the Philippines grew by 34.5% year-over-year (YOY) in 2013, with an all-time high total market revenue of US$48.2 million in the first quarter.

IDC’s Quarterly Hardcopy Peripherals (HCP) Tracker showed that about 233,400 units of single and multifunction printers and copiers were shipped in 1Q2013 in this region, compared with only 174,000 units in the year-ago period. Also, 80% of the quarter’s total was inkjet devices, with laser and serial dot matrix accounting for the remaining 12.9% and 7.0%, respectively. IDC projects the Philippine HCP market will grow by 5.3% in 2013 and reach about 802,000 units.

Pamela Sumanga, Market Analyst for IDC, explains that this trend was possibly driven by a healthy demand from the economic boom. Consumer and commercial products, such as inkjet and laser printers, have achieved double-digit growth rates, YOY.

From 2011 to 2012, the local printing market decreased as a result of changes in product line-ups, vendor strategies, and end-user behavior. While development of the Philippines market is bullish, the Asia Pacific market declined six consecutive quarters, dropping 7.6% YOY.