IDC: Thailand HCP Market Declined in Q1 2024

IDC: Thailand HCP Market Declined in Q1 2024

IDC: Thailand HCP Market Declined in Q1 2024

According to the IDC Worldwide Quarterly Hardcopy Peripherals Tracker, hardcopy peripherals (HCP) market in Thailand experienced a decline of 9.9% in the first quarter of 2024 compared with the same period last year.

A total of 258,035 units was shipped in Q1, including inkjet, laser and serial dot matrix models. The decline was largely attributed to the political uncertainty posed by the new government, which had also been the case at the end of 2023. Consequently, individual and commercial consumers tend to refrain from investments in this segment. However, compared to the last quarter, the impact of political environment abated partially, resulting in a quarter-on-quarter growth of 17.8% from the fourth quarter of 2023.

IDC: Thailand HCP Market Declined in Q1 2024

Despite a decrease of 5.0%, inkjet market continued to be the dominant market in Thailand. Among all inkjet models, ink tanks drew the majority of demands, with increasing popularity in small and medium business. The performance decline of 1.6% for ink tanks and 19.4% for ink cartridges also support this point, reflecting the displacement of traditional cartridges. A more obvious drop of 17.5% was witnessed in laser device, with A3 and A4 market declining by 6.7% and 18.8 respectively.

IDC: Thailand HCP Market Declined in Q1 2024

Regarding performance of each brand, HP, Canon and Epson together took up approximately three quarters of the total market share. To be more specific, HP and Canon both benefit from the growing demands for low-end mono laser printers, while the sustainability motto of Epson was welcomed by local healthcare sector.

“Although the overall HCP market faces YoY decline, we anticipate that the demand will recover in the short run as government and business spending will pick up again once the policies are finalized together with continual economic recovery,” says Paramat Arbhasi, Market Analyst, IDC Asia Pacific.



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