The worldwide hardcopy peripherals (HCP) market expanded for the third quarter in a row in the first quarter of 2021 (Q1, 2021) with shipments growing 19.3% year over year to approximately 25.5 million units, according to IDC.

Shipment value also increased during the quarter with year-over-year growth of 10.8% to $10.9 billion as more tenders and contract renewals took place in the office.

Notable highlights from the quarter include:

• All nine regional markets show year-over-year increases in unit shipments, with Asia/Pacific (excluding Japan and China) leading the way with 31.0% growth followed by China (PRC) at 25.4% and Western Europe at 18.9%. Similar to last quarter, the common theme for Q1 was growth driven by increased demand for low-end devices.

• Both inkjet and laser markets posted year-over-year shipment growth at 37.0% and 3.6%, respectively. Inkjet vendors continued to record high shipments to meet ongoing demand and fill backlog orders as markets continue to adapt to the new normal.

• HP Inc. outperformed all other companies in the top 5 in terms of year-over-year shipment growth for the third quarter in a row. The vendor posted a year-over-year increase of 36.4% with worldwide shipments of approximately 10.8 million units. HP Inc.’s Instant Ink program is helping to drive sales as it grew its subscriber base to over 9 million users. The vendor is seeing continued demand combined with favourable pricing and inventory replenishment within the consumer space.