HP Leads Indian Large Format Printer Market in Q1 2018

HP has emerged as the leader in the Indian large format printer (LFP) market with 37.7 percent share as the segment posted strong growth in the first quarter of 2018, market research firm International Data Corporation (IDC) said on Monday. A large part went to several other brands that cumulatively had 26.9 percent market share with Epson and Canon having 20.4 percent and 7.9 percent market share respectively. According to IDC Asia/Pacific Quarterly Large Format Printer Tracker, the LFP market in India grew 11.7 percent quarter-on-quarter and 38.5 percent year-on-year in the first quarter of this year, with shipments reaching at 2,954 units.

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“With the growing environmental concerns, new media and increasing applications graphics market in India is moving towards environment-friendly products even if they are priced high. This quarter witnessed more installation of UV and other high-end LFPs as compared to previous quarters,” Pankaj Chawla, Research Manager, IPDS at IDC, said in a statement.

Shipments in the large format computer-aided design (CAD)/technical printer market segment grew 17.7 percent quarter-on-quarter and 55.2 percent year-on-year, driven by strong growth in single-pass CAD inkjet printers in the large format, aqueous-based printer segment. On the other hand, shipments on the graphics side were up by 7.6 percent quarter-on-quarter and 28.3 percent year-on-year. Though solvent printers dominate the total graphics market but aqueous, UV and Latex were key drivers of this growth.

In CAD printers segment, HP Inc. remained market leader with a unit market share of 68.5 percent followed by Canon and Epson. Solvent printer market dominated the graphics market in India by capsizing over 40 percent share in the market. The aqueous market posted quarter-on-quarter growth of 72.8 percent and year-on-year growth of 227.5 percent. UV market posted quarter-on-quarter growth of 48.9 percent and year-on-year growth of 84.2 percent.

In terms of vendors’ ranking, Epson remained an overall market leader in graphics segment, followed by HP, IDC said.

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