Publication date: 24 Jun 2024
Technical Printer Market Dipped 9.3% YoY in Asia/Pacific Excluding Japan
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For more information, contact:- Elaine Sun Email: esun@idc.com
- Michael De La Cruz Email: mdelacruz@idc.com
- Miguel Carreon Email: mcarreon@idc.com
- Sharon Cheng Email: scheng@idc.com
China shows significant shipment declines, while APeJ shows a more resilient performance.
SINGAPORE, 24 June 2024 – According to the IDC Worldwide Industrial Printer Tracker, a total of 5,889 units of large format technical printers were shipped in 2024 Q1 for Asia/Pacific excluding Japan. This marked a 9.3% annual decline, with minimal sequential growth of 0.1%.
Notably, China’s large format technical shipment continued to experience an annual drop despite the removal of restrictions and the reopening of the market in 2023. China’s shipment was recorded at 1,414 units in 2024Q1, which is half of the average shipment level pre-pandemic. In contrast, the rest of the region had already rebounded, albeit with a 7.1% annual decline to 4,475 units. However, it’s worth noting that the technical printer shipments had consistently exceeded 4,000 units since 2022.
The resilience of large format technical printers in the Asia/Pacific excluding Japan & China (APeJC) has been bolstered by the increasing number of infrastructure projects across the region. Governments and corporations have accelerated investments in construction, urban development, and transportation, that consequently driving the demand for technical drawings.
“Aside from technical drawings, plans, and maps, the large format technical printer is utilized across various industries such as finance and hospitality,” said Sharon Cheng, Senior Research Analyst, Imaging Printing and Document Solution (IPDS) Group, IDC Asia/Pacific.
“With the versatility, large format technical printers are being used to print short-term indoor posters, pictures, and graphics, catering to diverse needs for corporates that require large format printing across various industries,” Cheng adds.
While APeJC benefits from sustained infrastructure investments and diverse corporate demand, China is undergoing significant changes in its economic system and facing challenges of market saturation.
“Over the past two years, thousands of design houses and architectural firms have ceased their operations, reflecting the market changes from economic challenges and oversupply in the property market. Consequently, this downturn has resulted in halving the technical printer shipments. The concern emerges as when will China large format technical printer market rebound?” said Elaine Sun, Senior Research Analyst, IPDS Group, IDC Asia/Pacific.
Sun adds, “However, there is optimism that China’s 15th 5-year plan will provide a catalyst for recovery and growth and stimulate the demand for technical printing.”
To know more about the IDC Worldwide Quarterly Industrial Printer Tracker, please contact Sharon Cheng at scheng@idc.com and Elaine Sun at esun@idc.com. For media inquiries, please contact Miguel Carreon at mcarreon@idc.com or Michael de la Cruz at mdelacruz@idc.com.
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