According to a recent report from IDC, the worldwide shipment of hardcopy peripherals (incl. single-function printers, multi-function printers and single-function digital copiers) reached 25.0 million units in Q4 2022, a year-over-year growth of 11.6%. Shipment value increased 14.8% to $11.1 billion.

The top 3 regional markets all recorded year-over-year growth during 4Q22 with China (PRC) leading the way with 31.7% growth, followed by Western Europe at 13.1% and the United States at 7.2%. Contributing to these gains were improved microchip/component supplies and adequate inventory to meet consumer and business demands. 

The top 5 printing companies, HP, Epson, Brother and Pantum, all saw year-over-year growth in 4Q22. Key drivers for this growth include improved supplies, increased consumer demand, robust consumer promotions, and enhanced channel incentives. 

According to IDC, the worldwide shipment declined 1.4% year over year for 2022. However, market value improved 0.7% year over year to approximately $39.9 billion for all of 2022. Western Europe and the U.S. both saw a year-over-year decline in shipments for the full year 2002, down 4.1% and 6.2%, respectively. China ended the year with shipment growth of 8.2% for 2022.

Source: IDC