POINT OF SALE (POS) RECEIPT PRINTER MARKET ANALYSIS

 Global Point of Sale (POS) Receipt Printer Market size was valued at US$ 4.91 Billion in 2022, exhibiting a Compound Annual Growth Rate (CAGR) of 9.3% from 2023 to 2030.

Global Point of Sale (POS) Receipt Printer Market- Regional Analysis

North America held a dominant position in the global point of sale (POS) receipt printer market in 2022, followed by Asia Pacific and Europe.

Figure 1. Global Point of Sale (POS) Receipt Printer Market Share (%), By Region, 2022

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North America held a dominant position in the global point of sale (POS) receipt printer market in 2022, owing to factors like increasing adoption of digital payment systems, a rise in the retail industry, and the need for efficient transaction processing in the region. Additionally, point of sale (POS) receipt printers are a crucial component of the retail and hospitality sectors, providing printed receipts for customers' purchases. The key industries that make use of point of sale (POS) receipt printers are retail stores, restaurants, hospitality businesses, entertainment venues, healthcare facilities, and

Asia Pacific is another strong market for the point of sale receipt printer. The Asia Pacific region is home to some of the most populous countries in the world, such as China and India. The vast consumer base in these countries, along with the growing middle class, has contributed to the rising number of retail establishments, restaurants, and other businesses that utilize POS systems. The region has shown a willingness to adopt new technologies quickly. This has led to the demand for advanced POS receipt printers that offer features like wireless connectivity (Bluetooth and Wi-Fi), cloud integration, and mobile compatibility. Due to these factors, the point of sale (POS) receipt market is expected to grow substantially during the forecast period.

Global Point of Sale (POS) Receipt Printer Market - Drivers

Rising need for mobility in retail and hospitality applications

Mobility technology is becoming more widely used by the consumers in the retail and hospitality industries to increase the customer experiences and the efficiency of point of sale (PoS) systems for billing and other related tasks. Due to the higher cost and immobility of traditional PoS systems, the usage of mobile receipt printers in retail and restaurant applications can help achieve considerable cost reductions. Additionally, the mobility feature streamlines the checkout procedure by allowing consumers to finish transactions without waiting in line at the counter. For instance, in January 2020, a Japan-based multinational conglomerate corporation that provides technological solutions, announced the launch of the company’s HSP series of POS printers which comes equipped with splash resistant design to  provide protection against solid objects and liquid prevalent in applications such as bars. This shows the rising demand for POS receipt printers in varied industries that are leading the market demand for POS receipt printers. Additionally, quicker checkout procedures contribute to an increase in transaction volumes for both retail and hospitality applications. Therefore, these variables are anticipated to fuel the point of sale (POS) receipt printer market expansion during the forecast period.

High demand for thermal point of sale (POS) printers

The falling prices of thermal POS receipt printers is leading to their increasing adoption in several industries like, hospitality, restaurants, gas stations, and others. The demand for thermal printers is growing tremendously across the hotel and retail industries because they offer quick printing, and are more effective than other printers. Low printing costs, improved print quality, and less maintenance are some of its further characteristics. These elements are therefore anticipated to accelerate the expansion of the global point of sale (POS) receipt printer market in the coming years. For instance, on June 29, 2023, Epson, a Japan-based multinational electronics company, introduced a new series of thermal printers called, ‘m-Series’. The printer is expected to have a printing speed of 500 millimeters per second along with IPX2 (a quality standard for water resistance).

Global Point of Sale (POS) Receipt Printer Market - Restraints

Rising adoption of cloud-based POS systems

A point-of-sale system, which is cloud-based and linked to the internet, can be used by businesses of all sizes including those in the hospitality sector to process payments. In order to it combines the usage of hardware and software. Cloud-based POS systems allow businesses to access their data and manage sales from any location with an internet connection. This accessibility is particularly advantageous for businesses with multiple locations or those that operates remotely or on-the-go, as it enables real-time sales tracking and inventory management. These cloud based systems have the potential to replace the existing POS printer systems. For instance, in June 2022, Openbravo, a Spain based cloud based software provider, announced the launch of its brand new POS system for quick service restaurants. This shows the growing inclination of the end-users of POS systems in adopting the cloud based technologies. This might act as a hindrance for global point of sale receipt printer market during the forecast period.

Counterbalance: Even though the cloud based POS systems are being introduced in the market, they cannot replace the existing POS printers completely. There are several factors which can prove to be a hurdle in the exclusive use of cloud based POS systems such as, internet connectivity limitations in remote areas around the world, concerns regarding data privacy of cloud based services, etc. These factors point out towards the fact that cloud based systems cannot completely replace the POS receipt printers. The hybrid model that makes use of the cloud based as well as traditional POS systems can be implemented by the business which ensures the stability for global point of sale (POS) receipt printer market.

Health risk arising from bisphenol A (BPA) paper used in thermal POS printers:

BPA is a chemical compound commonly used in thermal paper to develop images when exposed to heat. However, there have been studies linking BPA exposure to potential health risks, which may impact the global point of sale receipt printer market. Some studies have linked BPA exposure to various health conditions, including fertility issues, cardiovascular problems, diabetes, obesity, and certain types of cancer. These potential health risks have led to increased public awareness and concern over BPA exposure. For instance, according to an article published on March 28, 2023, by PLOS ONE, a peer reviewed in an open access journal,  that ‘Bisphenol A’ (BPA), an industrial chemical used as a color developer in thermal paper receipts, acts as an endocrine disruptor and can cause hormonal imbalances. This would lead to rising concerns among the users of thermal papers and lead to the negative perception among the customers which would force the organizations using thermal papers to avoid the use of the same. Hence, the rising health concerns associated with the use of BPA in thermal paper can contract the global printer market during the forecast period.

Counterbalance: Technological advancements are driving the development of eco-friendly and sustainable alternatives to thermal paper. This includes the use of BPA-free, recyclable, and environmentally friendly materials for printing receipts. Many manufacturers are now producing BPA-free thermal paper alternatives that use different chemicals for image development. These BPA-free alternatives offer similar printing performance without the potential health risks associated with BPA. As the technology for BPA-free papers would continue to evolve, the prices for such alternative sources would eventually decline and lead to an increased adoption of such alternative sources.

Global Point of Sale (POS) Receipt Printer Market - Opportunity

Expansion of point of sales receipt printer market in emerging economies

Emerging economies, often characterized by rapid urbanization, rising disposable incomes, and increasing digitalization, are witnessing a surge in the adoption of modern retail practices and technology. Many emerging economies are experiencing a boom in the retail sector as the middle class expands and consumer spending increases. The rise of organized retail, including supermarkets, hypermarkets, and specialty stores, is driving the demand for efficient POS systems, including receipt printers, to streamline transactions and enhance customer experiences. Emerging economies are home to a large number of SMEs, such as small retailers, restaurants, cafes, and local businesses. These businesses are recognizing the benefits of adopting POS systems to improve operational efficiency, inventory management, and sales tracking. As a result, there is a growing demand for affordable and user-friendly receipt printers tailored to the needs of SMEs. For instance, according to an article published by an international financial institution which consists of 189 countries as its members, SMEs account for 90% and more than 50% of employment in the world. In emerging economies, the contribution of SMEs in the GDP (Gross Domestic Product) is around 40%. This shows the significant growth of SME sector in the emerging economies that is providing an immense opportunity for the global point of sale (POS) receipt printer market to grow further.

Global Point of Sale (POS) Receipt Printer Market - Trends

Emergence of erasable and color printing

Erasable and color printing capabilities in point of sale (POS) receipt printers offer unique features and functionalities that can cater to specific business needs and enhance customer experiences. Erasable printing, also known as thermal erasable printing, is a feature that allows the printed content on a receipt to be erased or faded over time when exposed to heat again. This capability is achieved by using specialized thermal paper that reacts to a different temperature than regular thermal paper. This provides  benefits such as reusability and environmental sustainability. Color printing in POS receipt printer allows the printing of receipts in various colors, enhancing the visual appeal, and customization options for businesses.

Mobile connectivity and contactless payments

Mobile connectivity refers to the ability of POS receipt printers to establish wireless connections with mobile devices such as smartphones and tablets. This feature allows businesses to process transactions without the need for physical connections or cables, providing greater flexibility, and convenience in various retail and hospitality settings. With mobile connectivity, receipt printers can be placed anywhere within the store or restaurant, enabling staff to serve customers directly at the table or in different areas without being tethered to a fixed POS station. For businesses operating pop-up stores or temporary events, mobile-connected receipt printers offer a quick and easy setup, enabling efficient transactions in non-traditional retail locations. For instance, according to a report published in October 2021, by UK Finance, a union of financial institutions in the region of UK, the number of contactless payments in UK has risen from 7% of all payment types to 27%. The majority of this rise in number of contactless payments has been witnessed after the COVID-19 Pandemic. This data shows the rise of contactless payments culture in the region like U.K., similar trends are visible in all the regions across the globe.     

The global point of sale (POS) receipt printer market is classified into the following segments based on end-use industry, type, technology, and region.

• On the basis of End-use Industry, global point of sale (PoS) receipt printer market is segmented into Hospitality, Healthcare, Retail, Warehouse / Distribution, Entertainment and Others.
• On the basis of Type, the global point of sale (PoS) receipt printer market is segmented into Desktop Receipt Printer and Mobile Receipt Printer.
• On the basis of Technology, the global point of sale (PoS) receipt printer market is segmented into Thermal Printer, Impact/Dot Matrix and Inkjet.
• On the basis of region, global point of sale (PoS) receipt printer market is segmented into North America, Latin America, Europe, Asia pacific, Middle East and Africa.

Based on technology, the thermal printer segment in the global point of sale (POS) receipt printer market held the dominant position in 2022. The rising demand for portable thermal receipt printers across the globe especially in the developing countries like, India, Bangladesh, China, and others is leading the expansion of global point of sale (POS) receipt printer market. The thermal printers are used extensively because, thermal printers use heat to transfer images onto specially coated thermal paper, eliminating the need for ink or ribbons. Moreover, thermal printers provide several benefits such as, they can print receipts quickly, which helps improve checkout efficiency, and customer service in busy retail environments. Since quietly, they operates they can create a more pleasant customer experience in noise-sensitive settings like restaurants and hotels. Owing to all these factors, the demand for thermal printers in the global point of sale receipt printer market will continue to grow further. This would ensure that the segment enjoys a substantial dominance over other technologies in the market.       

Figure 2. Global Point of Sale (POS) Receipt Printer Market Share (%), By Technology, 2023

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The Global Point of Sale (POS) Receipt Printer Marketwas valued at US$ 4.91 Billion in 2022 and is expected to reach US$ 9.9 Billion by 2030, exhibiting a CAGR of 9.3% between 2023 and 2030.

Global Point of Sale (POS) Receipt Printer Market - Key Competitors

The major players operating in the global point of sale (POS) receipt printer market include Bixolon Co., Ltd., ZIH Corp, Citizen Systems Europe GmbH, TVS Electronics, Seiko Epson Corp., Transact Technologies, Inc., HP Development Company, L.P., Star Micronics, Inc., and Posiflex Technology, Inc.

Global Point of Sale (POS) Receipt Printer Market- Recent Developments

1. On January 10, 2023, Epson Corporation, a Japan-based multinational electronics company, introduced the new generation of thermal printers named, ‘OmniLink m-Series’. The new generation of thermal printers comes equipped with the capability of connecting with the tablets and other smart devices in the POS systems.
2. On June 19, 2023, BIXOLON, a global manufacturer of mobile POS printers, announced the launch of next generation of receipt printers named, ‘SRP-350’ & ‘SRP-350 Plus’ in the European market. The new generation of POS printers includes features like, increased print speed, connectivity to latest technologies, etc.
3. In September 2022, Star Micronics, a global manufacturer of POS printing solutions, announced the launch of the combined printer and cash drawer solution named, ‘mPOPCI’ which is compatible with android, Windows as well as iOS devices.
4. In March 2020, HCL Infosystem, an India-based company primarily engaged in the value-added distribution of technology products, announced the launch of a bi-color receipt printer named, HCL Star – TSP700. The new POS printer is expected to be the first multilingual printer launched in India.

 Global Point of Sale (POS) Receipt Printer Market- Impact of COVID-19:

The COVID-19 pandemic had a significant impact on the point of sale (POS) receipt printer market. With widespread lockdowns and social distancing measures imposed to contain the virus's spread, many businesses faced disruptions and had to adapt their operations to comply with new health and safety guidelines. The retail and hospitality sectors, which are major users of POS receipt printers, were particularly affected, as foot traffic declined and in-store transactions decreased. As physical retail locations experienced reduced customer traffic, many businesses had to pivot towards online and contactless solutions to survive. This shift towards e-commerce and mobile ordering led to a surge in demand for digital receipts and QR code-based payment methods, reducing the immediate reliance on printed receipts. As a result, the demand for traditional receipt printers experienced a temporary decline. Hence, the COVID-19 pandemic slowed down the growth of global point of sale (POS) receipt printer market.

*Definition: The Point of Sale (POS) receipt printer market refers to the industry segment that involves the manufacturing, distribution, and sales of specialized printers designed to generate receipts and transaction documents at the point of sale or transaction in retail, hospitality, and other business establishments. These printers are an integral part of the POS system, which includes hardware and software components used to process and manage sales transactions.