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According to the International Data Corporation’s (IDC) Worldwide Quarterly Hardcopy Peripherals Tracker – including inkjet, laser, and serial dot matrix (SDM), the 4Q22 overall market recorded a 24.2% year over year (YoY) and 9.9% quarter on quarter (QoQ) decline. This decline is mostly caused by issues in the importation system. In November 2022, vendors encountered several issues, such as difficulties submitting import quotas in the Commodity Balance system due to a system error that persisted for weeks and delays in the renewal of color machine licenses for 2023.
Meanwhile, YoY growth in 4Q22 can be attributed to various factors. Firstly, the resumption of normal activities after the disruptions caused by the pandemic has played a significant role in this growth. The fact that office and school capacity is now at 100% has led to increased demand for goods and services, thereby driving growth.
Another contributing factor is the improvement in buying power among consumers. Consumers now have more disposable income compared to last year which has boosted their purchasing power. However, despite the growth, it is important to note that most companies are now in a budget efficiency mode. As a result, they tend to prioritize saving money in hardcopy peripherals (HCP) procurement.
Based on these...