Brother eyes 25 pc share in Indian ink tank printer market over 3 years

New Delhi, Sep 10 (PTI) Brother International India, part of Japan-based electronics and electrical equipment firm Brother Industries, aims to corner one-fourth of the ink tank printer market here, its Managing Director Alok Nigam said on Wednesday.

The company, which currently has 8 per cent market share of the ink tank printer, is hopeful that with the help of its affordable, smart, reliable and latest cost-effective printing solutions based on innovations, it will help to gain market shares.

The company, which on Wednesday introduced six high-efficiency ink tank printers, said now its products are conceptualised keeping in mind the needs of customers in India, who are value-conscious, require the latest technology with efficient service support.

"At Brother group, we have a target of reaching about 25 per cent market share in ink tank printers within the next 3 years," Nigam told PTI.

Nigam said he is confident about the three-fold growth in market share, helped by specifications as technology, cost-effective solutions, and affordable refills, which will give Brother a "foothold" here at home, managing office documentation, or catering to high-volume business requirements.

Nigam did not reveal the topline of Brother International India and its contribution to its Japanese parent group, but said India is a "key" focus market of the group.

When asked about the Indian printer market, Nigam said it is estimated to be around 3.5 million units.

"This also includes ink tank and laser. We have different segments in market shifts in both, and definitely, both are growing. Ink tank is growing at a faster pace, about 7 per cent CAGR, which we saw, and even lasers are growing," he said, adding, "India remains a market which is still on a growth path despite being a large market.

According to Nigam, in India, both office printing and home printing segments are growing. Companies resumed their offices after having WFH (work from home) during Covid pandemic, and the home segment growth has slowed down, but it still remains strong.

Brother International India, which has been present for the last 19 years, has been growing consistently, even during the pandemic, when most companies reported an impact on their sales.

The Indian printer market is largely dominated by three companies - HP, Canon, and Epson. However, there are other brands such as Ricoh, Kyocera etc, which are competing in this growing segment.

"So, fortunately for Brother group, India is actually one of those markets still across the whole world which is growing in terms of printers, and while most mature economies would have stagnated or may be still coming down, India remains a very strong market for any printing vendor," he said.

Moreover, the ink tank market, which is now the dominant force, is also growing at around 7 per cent CAGR, and is expected to continue the trend till 2030.

"So, India is a good market for the Brother group," he said.

The company does not have any manufacturing unit in India and imports printers from its global manufacturing hubs. PTI KRH HVA