printers

Printer demand in the Philippines continues to grow despite the shift to digital services, with Brother Philippines citing sustained market expansion driven by business use and regulatory requirements as it marks its 25th year in the country.

The global shipment value for all devices also declined 6.6% year over year to $8.9 billion, according to new data from research firm IDC.

As with the prior quarter, the decline was caused by constrained demand and the tightening of financing conditions.

The year-on-year decline in inkjet and laser products can be ascribed to reduced demand from Asia-Pacific customer groups in all segments except small offices and very large businesses.

IDC said the growth can be attributed to the shift of the commercial segment away from laser printers and toward ink tank printers, which have been proven more cost-effective for printing.

IDC said ink tank products are increasing in prominence with a growing trend of SMEs and SOHOs shifting their preference from entry level laser to ink tank, whereas demand for ink cartridge continues to see a downtrend with shrinking home printing usage.

One particular highlight was Huawei launching its ink tank series printers in 3Q22 as a new player in the market.

Epson is the top performing brand for the Philippines, Indonesia, and Taiwan.

Inkjet vendors continued to record high shipments to meet ongoing demand and fill backlog orders as markets continue to adapt to the new normal.

Market value declined 12.3% for the whole year, however, due to low shipments of high-end office devices.