In the third quarter of 2019, the year-on-year growth rate continued to slow down compared with the previous quarter.
IDC’s latest quarterly tracking report on China’s printing peripherals market (third quarter of 2019) shows that in the third quarter of 2019, China’s inkjet printer market shipped 1.217 million units, an increase of 1.5 percent.
The year-on-year increase in shipments of inkjet machines slowed from double digits to single digits, mainly due to the impact of the business inkjet market. IDC explains that the business situation of small and medium-sized enterprises is affected by the macro economy, and the operating pressure continues to increase. Companies have begun to reduce operating costs by reducing the procurement of office equipment such as printers and are extending the length of use of their machines. As a result, the replacement cycle has been lengthened and the purchase of new machines has decreased. According to IDC, this is the main reason why the year-on-year growth of China’s inkjet printer market continued to slow down from the previous quarter.
Faced with the above market changes, inkjet printer manufacturers are not only ready to slow down their business growth, but also need to explore market opportunities around the innovative office printing service model and family education, IDC stated.
In the report, IDC adds that from the perspective of the business inkjet market, the current SMEs have the demand for light asset development, manufacturers can provide a more diversified office printing service model and cooperate with dealers or platforms engaged in leasing equipment to provide targeted service packages for SMEs.
From the perspective of the consumer market, the market is still driven by family education. When manufacturers promote inkjet printers to home users, in addition to highlighting their lower printing cost advantages, they also need to increase the research on the ease of use and experience of home inkjet products, IDC added.
Cao Min, a Market Analyst for IDC Imaging, Printing and Document Solutions, believes that the growth rate of the inkjet printer market is slowing, and is expected to only grow by around six percent in 2019.
In the current market environment, manufacturers can increase the user’s loyalty through the promotion of original consumables and the provision of extended warranty and repair services at preferential prices to adverse the impact of slower growth in shipments and growth in profit.
IDC predicts that the Asian market environment is expected to pick up in the future. The growth rate of the inkjet market in 2020 will be significantly higher than that in 2019.
