New Delhi, May 21 : HP Inc. has emerged as the leader in the Indian large format printer (LFP) market with 37.7 per cent share as the segment posted strong growth in the first quarter of 2018, market research firm International Data Corporation (IDC) said on Monday.
A large part went to several other brands that cumulatively had 26.9 per cent market share with Epson and Canon having 20.4 per cent and 7.9 per cent market share respectively.
According to IDC Asia/Pacific Quarterly Large Format Printer Tracker, the LFP market in India grew 11.7 per cent quarter-on-quarter and 38.5 per cent year-on-year in the first quarter of this year, with shipments reaching at 2,954 units.
"With the growing environmental concerns, new media and increasing applications graphics market in India is moving towards environment-friendly products even if they are priced high.
This quarter witnessed more installation of UV and other high-end LFPs as compared to previous quarters," Pankaj Chawla, Research Manager, IPDS at IDC, said in a statement.
Shipments in the large format computer-aided design (CAD)/technical printer market segment grew 17.7 per cent quarter-on-quarter and 55.2 per cent year-on-year, driven by strong growth in single-pass CAD inkjet printers in the large format, aqueous-based printer segment.
On the other hand, shipments on the graphics side were up by 7.6 per cent quarter-on-quarter and 28.3 per cent year-on-year.
Though solvent printers dominate the total graphics market but aqueous, UV and Latex were key drivers of this growth.
In CAD printers segment, HP Inc.
remained market leader with unit market share of 68.5 per cent followed by Canon and Epson.
Solvent printer market dominated the graphics market in India by capsizing over 40 per cent share in the market.
Aqueous market posted quarter-on-quarter growth of 72.8 per cent and year-on-year growth of 227.5 per cent.
UV market posted quarter-on-quarter growth of 48.9 per cent and year-on-year growth of 84.2 per cent.
In terms of vendors' ranking, Epson remained overall market leader in graphics segment, followed by HP, IDC said.