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OEM Inkjet & Color Laser Printer Sales are Booming in the Middle East & Africa.
The hardcopy peripherals (HCP) market in the Middle East and Africa (MEA) has witnessed a robust growth, driven by a surge in inkjet and color laser sales. According to the latest insights from International Data Corporation (IDC), the MEA region saw a shipment of 5.71 million units in FY2023, amounting to a total value of $2,255.52 million. This represents a year-on-year growth of 3.7% in units and 5.2% in value.Market Dynamics: The growth in the HCP market is primarily attributed to the increased focus of vendors on promoting inkjet and color laser products. Notably, major markets such as Saudi Arabia, the UAE, and Türkiye have all recorded year-on-year growth in FY2023. However, South Africa’s demand for HCP products declined due to electricity supply shortages, stagnant economic growth, and high unemployment levels, which have adversely affected the country’s market growth in recent years.
Inkjet and Color Laser Segments Flourish: Inkjet shipments in the MEA region increased by 8.0% year-on-year, totaling 3.49 million units, while the segment’s value rose by 11.3% to $545.38 million. The growth in units is linked to the heightened demand for devices within the small office/home office (SOHO) segments, coupled with aggressive marketing activities by leading vendors. The value growth is tied to the increased demand for business inkjet devices, indicating a post-pandemic trend toward digital transformation.
Challenges and Opportunities: Despite the decline in shipments of mono laser devices in both units and value, the color laser segment experienced a significant growth of over 50% in unit terms compared to the previous year. The production segment also showed strong performance, particularly in Africa, suggesting a shift towards more advanced digital printing technologies.
Vendor Strategies and Outlook: Vendors are capitalizing on the advancements in digital printing technology to diversify their product portfolios and target end users within the commercial and industrial segments. This strategic move is essential as the office printing market becomes increasingly saturated.
HP Inc. and Canon have emerged as the top vendors in the MEA HCP market for FY2023, leading in unit terms1. As the market continues to evolve, vendors will need to maintain their competitive edge by innovating and adapting to the changing demands of the MEA region. In conclusion, the HCP market in the MEA region is on an upward trajectory, bolstered by the strong performance of inkjet and color laser sales. The resilience of small and medium-sized businesses and their willingness to invest in technology despite economic challenges is a testament to the region’s commitment to embracing digital transformation. The future of the HCP market in MEA looks promising, with opportunities for growth and innovation at every turn.
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