Global Point of
Sale (PoS) Receipt Printer Market: Snapshot
The
focus of retail and hospitality sectors is majorly on offering
personalized and interactive consumer experience. As installing point
of sale (PoS) receipt printers allow merchants to focus on myriad
customer-centric campaigns, their demand is forecast to increase
considerably in the near future. PoS receipt printers have emerged as
an accurate, efficient, and effective printing solution in the recent
years. Besides generating quality systems, the novel technology has
helped in reducing the printing time as compared to their traditional
counterpart. With growth witnessed in retail and hospitality sectors,
the demand for PoS receipt printers is forecast to rise further in
the coming years.
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Mobility
is considered indispensable in hospitality and retail sectors to
expedite the counter sales process thereby increasing the number of
transactions. This is a chief driver of the global PoS receipt
printer market. In addition, the demand for point of sale receipt
printer is anticipated to rise in associated industries such as
healthcare, warehouse / distribution and entertainment. Spurred by
these factors which is expected to drive the market growth. However,
the rising adoption of cloud based point of sale system is
threatening the point of sale receipt printer market. Considering the
mounting environmental concerns, end users are more inclined towards
paperless transaction. This could hinder the market’s trajectory to
an extent.
According
to Transparency Market Research (TMR), the global point of sale
receipt printer market is forecast to exhibit a CAGR of 7.7% between
2017 and 2025. At this pace the market will reach US$4.2 bn by the
end of 2025 from a valuation of US$2.08 bn in 2015.
Mobile Receipt
Printer Segment to Exhibit Growth at Higher Pace
Based
on type, the global point of sale receipt printer market can be
bifurcated into mobile receipt printer and desktop receipt printer.
Of these, the desktop receipt printer segment emerged dominant in
2015. This segment includes various alternatives to support any PoS
receipt printer enabling jam detection, high quality printed copy,
and increased printing speeds. However, the uptake of mobile receipt
printers is forecast to be higher in the coming years. Birthing of
advanced technologies offering ease of use will boost the demand for
mobile receipt printers in the coming years. According to TMR, the
mobile receipt printer segment will exhibit a CAGR of 9.2% between
2017 and 2025.
Asia Pacific will
Offer Lucrative Opportunities for PoS Receipt Printer Market
Regionally,
North America held the leading share in the global PoS receipt
printer market in 2015. The region is expected to continue dominating
the overall landscape on account of the rising demand for developed
nations such as the U.S. and Canada. The presence of a large number
of the retail giants such as The Home Depot, Wal-Mart Stores,
Walgreen, The Kroger Co, Costco, Target, and others will aid
expansion of the regional market.
However,
booming economies and improved living standard of consumers will
bolster opportunities for the market players in Asia Pacific at a
higher rate. The demand for PoS receipt printers will be high
especially in countries such as India and China. Besides the presence
of large multinational retail and food chain brands, these countries
feature expanding hospitality sector, which is aiding the growth of
the PoS receipt printer market in Asia Pacific. As per TMR, the Asia
Pacific PoS receipt printer market will reach over US$1.02 bn by the
end of 2025.
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The
key players profiled in the global PoS receipt printer include
Bixolon Co., Ltd., Citizen Systems Europe GmbH, SEIKO EPSON CORP., HP
Development Company L.P., Posiflex Technology, Inc., POS-X, Star
Micronics, Inc., Transact Technologies, Inc., TVS Electronics, ZIH
Corp among others.
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Market Research (TMR) is a global market intelligence company
providing business information reports and services. The company’s
exclusive blend of quantitative forecasting and trend analysis
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material for business reports.
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