MEA HCP market sees sharp rise in H1 2022
October 13, 2022
The overall Middle East and Africa (MEA) hardcopy peripherals (HCP) market posted growth in both units and value for the first half of this year (H1 2022), according to the latest insights from International Data Corporation (IDC).
The global technology research and consulting firm’s latest Worldwide Quarterly Hardcopy Peripherals Tracker shows that 2.54 million units were shipped across the MEA region in H1 2022 for a total value of $949.88 million (€975.69 million), reflecting flat unit growth of 0.5% year on year (YoY) and significant value growth of 10.9%. This growth was primarily driven by the return to offices that was seen in most countries across the region and strong demand for devices in the midrange and high-end segments, IDC added.
In the Middle East region, shipments of HCP products to Saudi Arabia, Turkey, and the UAE declined in unit terms YoY but increased in value. This value growth can be attributed to higher shipping costs, increased demand for business inkjet and A4 laser devices, and managed print services (MPS) contracts/deals won by vendors in the government and financial sectors.
In Africa, Ghana saw the highest growth as a result of improved business run rates and the fulfilment of backlog orders. Kenya ranked in second in terms of growth due to the expansion strategies and aggressive marketing campaigns undertaken by certain vendors.
Looking at the MEA region as a whole, inkjet shipments declined 1.8% YoY in H1 2022 to 1.44 million units, while the segment’s value was up 12.0% to $218.50 million (€224.42 million). The growth in value can be attributed to increased demand for midrange inkjet devices and business inkjet machines. “In the medium term, midrange and business inkjet MFPs will most likely experience an upward trend as most SMBs will have a preference for these devices over more expensive colour laser devices due to tightened budgets and the need to keep costs in check,” said Sharon Rono, a Research Analyst at IDC.
Shipments of laser devices grew by 4.4% in unit terms and 11.0% in value YoY. “While most commercial activities are returning to normal, the short-term outlook is still subject to heightened uncertainty due to the broad rise in prices,” said Samar El-Sayed, a Research Manager at IDC. “Implementing an effective stocking approach and adopting competitive pricing strategies will be key to vendors’ business continuity and success.”
In terms of the MEA HCP market’s overall vendor rankings (laser and inkjet combined), HP Inc. and Canon placed first and second, respectively, in both unit and value terms in H1 2022. Together, they accounted for almost 80% of the market’s overall shipments. Epson remained in third place thanks to strong sales of its ink tank devices, which accounted for almost 80% of the vendor’s shipments to the region during the first half of the year.
Categories : World Focus
