The countries which managed to capture growth for ink cartridges were Bangladesh, Vietnam, India, the Philippines, Malaysia, and Thailand mainly because of the replacements of older machines bought before the pandemic.
The ink tank segment captured yearly growth in countries like Australia, the Philippines, Bangladesh, Indonesia, and India due to the growing acceptance in major verticals, such as healthcare and education, in a predominantly SME driven market.
Epson remains to be the market leader in the overall home/office printer market for 1Q22 holding 50.7% market share, despite showing a decline of -1.8% year-on-year.
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.
The Covid-19 pandemic continues to bring a host of challenges to most vendors, especially those whose manufacturing sites are in China and neighboring countries, including the Philippines and Indonesia.