Hardcopy Peripherals Market Insights

Worldwide Hardcopy Peripherals Shipments Declined 15.5% Year Over Year in the Fourth Quarter of 2023, According to IDC

NEEDHAM, Mass., March 18, 2024 – Worldwide shipments of hardcopy peripherals totaled 21.1 million units in the fourth quarter of 2023 (4Q23), a decline of 15.5% year over year. As with the prior quarter, the decline was caused by constrained demand and the tightening of financing conditions. Shipment value during 4Q23 also fell 11.7% to $9.7 billion, according to the International Data Corporation Worldwide Quarterly Hardcopy Peripherals Tracker. For the full year 2023, both units and shipment value declined year over year at -8.4% and -1.4%, respectively.

Notable highlights from the quarter include:

• Every geographic region saw a year-over-year decline in shipments, ranging from -5.9% to -30.6%. Among the three largest geographic markets, the United States fared the best, declining just 6.1% year over year. Western Europe was down 11.8% and China saw shipments decline 30.6%. China's economic recovery continues to be slower than expected, resulting in deeper than expected overall IT spending as the country continues to face challenges to its economic future.
• While all the top 5 companies experienced year-over-year shipment contraction, Brother had the best quarter with a year-over-year decline of 7.5%. The vendor was able to gain users from the small business segment as their recently launched entry level A4 color laser models with competitive pricing were well received.

Worldwide Hardcopy Peripherals Market, Unit Shipments, Company Share, and Year-Over-Year Growth, Q4 2023 (based on unit shipments)

Data table for "Worldwide Top 5 HCP Companies, 2023Q4 Unit Market Share" chart

Company	2022 Q4 Units Shipments	2022 Q4 Market Share	2022 Q4 Year-over-Year Change %	2023 Q4 Units Shipments	2023 Q4 Market Share	2023 Q4 Year-over-Year Change %
HP Inc	8662882	34.7%	2.4%	7036506	33.4%	-18.8%
Epson	5164328	20.7%	17.4%	4650132	22.1%	-10.0%
Canon Group	5276816	21.2%	16.6%	4470764	21.2%	-15.3%
Others	2903720	11.6%	7.5%	2348503	11.1%	-19.1%
Brother	2192849	0.087898	8.8%	2027299	9.6%	-7.5%
Pantum	747063	3.0%	61.8%	554970	2.6%	-25.7%
Total	24947658	100%	11.6%	21088174	100%	-15.5%

Notes:

• IDC tracks A2-A4 devices in the Worldwide Quarterly Hardcopy Peripherals Tracker.
• Hardcopy Peripherals include single-function printers, multifunctional systems (MFPs), and single-function digital copiers (SF DC).
• Data for all vendors are reported for calendar periods.