The Global Point Of Sale (Pos) Receipt Printer Market By End-use Industry (Hospitality, Healthcare, Retail, Warehouse / Distribution, Entertainment and Others), By Type (Desktop Receipt Printer and Mobile Receipt Printer), By Technology (Thermal Printer, Impact/Dot Matrix and Inkjet) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 4,877.0 million by 2027, exhibiting a CAGR of 7.8% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
A point of sale (PoS) receipt printer is a critical device in point of sale system, typically used in retail environments to print credit card slips and customer receipts. There are three types of PoS receipt printers used namely dot matrix printer, thermal printer, and inkjet printer. Industries such as healthcare, hospitality, retail, and others are increasingly using new payment functionalities that eliminate the conventional, time-consuming process of customers waiting for service staff them to bring the bill. PoS system can help customers to complete payments quickly and more efficiently during peak hours and help organizations gain a competitive advantage in the market.
The global point of sale (pos) receipt printer market was valued US$ 2,666.0 Mn in 2019 and expected to reach US$ 4,877.0 Mn by 2027.
High growth of the e-commerce industry is expected to boost the global point of sale (PoS) receipt printer market growth over the forecast period
E-commerce industry has witnessed significant growth in the recent past, especially in emerging economies such as India and China. According to the India Brand Equity Foundation (IBEF), the Indian e-commerce market is expected to reach US$ 200 million by 2026 from US$ 38.5 million in 2017. This is due to rising smartphone penetration and the launch of 4G networks, rising disposable income of consumers. PoS receipt has major applications in the e-commerce industry from product bills to warehouse applications. Thus, high growth of the e-commerce industry is expected to propel the global point of sale (PoS) receipt printer market growth over the forecast period.
Increasing use of thermal printers in healthcare industry can provide lucrative growth opportunities over the forecast period
Since thermal printers are easy-to-use and offer more efficiency, the healthcare industry has actively adopted these printers. Thermal printers can print at a much faster rate than other printers and are inkless. Moreover, thermal printer uses heat to reach with paper thereby having the capability to create images. These advantages enhance the overall efficiency of the hospital. Moreover, mobile format thermal printers are lightweight, easy-to-use, durable, and deliver rich print quality thereby increasing the adoption of thermal printers in the healthcare industry.
Strict regulatory policies regarding printing are expected to hinder the global point of sale (PoS) receipt printer market growth over the forecast period
Many countries have enforced strict regulatory policies on printing, in order to curb pollution and wastage of paper. Such restrictions have compelled end users to adopt e-billing and e-receipts since they are more convenient, informative, secure, and less time-consuming. Moreover, emergence cloud-based PoS is expected to hamper the global point of sale (PoS) receipt printer market growth during the forecast period.
On the basis of the end-use industry, the retail sector is expected to witness the fastest growth in the Asia Pacific point of sale (PoS) receipt printer market during the forecast period. This is owing to the entry of new players in the regional market. Moreover, speculation is being made in apparel and fashion retail stores in Asia Pacific, which is expected to increase the demand of PoS receipt printer. India accounts for the major share in the market. For instance, after 2016 Indian banknote demonetization, PoS printer market is expected to expand in the future.
Countries such as Kuwait, the UAE, and Qatar, have huge potential for the growth in retail sector. Increasing number of retail store in the Middle East & Africa (MEA) is expected to boost the demand for PoS receipt printers in this region. Furthermore, increase in the use of credit and debit card in South Africa and Nigeria is expected to propel growth of the regional market growth in the near future.
Key players involved in the global point of sale (PoS) receipt printer market are 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.
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