Epson continues to lead the ASEAN hardcopy peripherals market, despite a notable industry downturn in the second quarter of 2024.

According to the latest International Data Corporation (IDC) report, Epson commands a significant 40% market share, outpacing Canon Group at 31%, HP at 15%, Brother at 11%, and Fujifilm at a mere 1%.

The overall HCP market in ASEAN experienced a shipment decline, with only 1.24 million units shipped, reflecting a 6.4% drop from the previous year.

Both laser A4 and A3 markets saw declines of 8.2% and 14.1%, respectively, primarily due to diminishing demand from commercial sectors.

Inkjet printers also faced a year-on-year decline of 2.4%, although this marked an improvement compared to earlier quarters.

Despite these challenges, IDC forecasts a potential recovery in the latter half of 2024, driven by increased government spending and a positive outlook for commercial sectors.

In the Philippines, opportunities for growth remain, particularly in ink cartridge machines, fueled by back-to-school demand and first-time users.

Epson Philippines President Masako Kusama emphasized the company’s commitment to sustainability and innovation, asserting that Epson is prepared to meet evolving consumer needs with its energy-efficient ink tank printers.

As consumers in Thailand and Singapore shift towards ink tank models for cost-effectiveness, Epson’s market strategy may face scrutiny amid changing preferences across the region.