Remote work, study expand global printer market in Q3 of 2020

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Worldwide shipments of hardcopy peripherals (HCP), also known as printers, increased for the first time since the second quarter of 2018, growing 8.6% year over year to nearly 26.2 million units in the third quarter of 2020 (3Q20).

According to research firm IDC, the year-over-year expansion was driven by the demand for low-end, cost-effective inkjet devices for home working and home education.

Highlights from the third quarter include:

  • Year-over-year increases in unit shipments were observed in the three largest regional markets – the United States, Western Europe, and China. The growth was stimulated by increased working and learning from home, which require affordable printers for home-based printing.
  • HP Inc. and Canon posted significant year-over-year growth in global shipments at 22.7% and 12.1% respectively.
  • Both the inkjet and laser markets posted year-over-year growth in 3Q20, registering gains of 13.8% and 2.0% respectively.
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