Companies operating in the global point of sale (PoS) receipt market are faced with high competition. Besides the strong presence of established players, the large number of players operating from regional markets will exert considerable influence on market operations, finds Transparency Market Research (TMR) in a new study. Seiko Epson Corporation, Star Micronics, Zebra Technologies, Posiflex Technologies, and Bixolon Co., Ltd. are among the top market players.
"To gain stronger foothold, the leading players focusing on mergers and acquisitions," said a lead TMR analyst. Given the scenario, experts predicts consolidation on cards for the market. In addition, these strategies will help the market players expand their footprint across the globe.
According to Transparency Market Research (TMR), the global point of sale receipt printer market is forecast to US$4.2 bn by the end of 2025 from a valuation of US$2.08 bn in 2015. If the figures hold true, the overall market will exhibit a CAGR of 7.7% between 2017 and 2025.
TMR Forecasts Dominance to Remain with Desktop Receipt Printer and North America
Based on type, the global point of sale receipt market can be bifurcated into desktop receipt printer and mobile receipt printer. Of these, the desktop receipt printer segment held dominance in 2015. This segment will continue benefitting from the low cost of installation and printing copy. However over the forecast period, the mobile receipt printer segment will exhibit a higher CAGR at 9.2%.
Regionally, North America dominated the global point of sale receipt printer market in 2015. The rising opportunities in Canada and the U.S. is likely to seal North America's dominance through the course of the forecast period. However, booming economy and improved standard of living in Asia Pacific will provide major impetus to the market, thus catapulting the region at the market's fore in the coming years. The regional market's valuation if forecast to reach US$1.02 bn by the end of forecast period.
Demand Witnessed in Retail and Hospitality Sectors Emerges as Key Growth Driver
On account of the rapid expansion witnessed over the last few years, the demand for mobility in retail and hospitality sectors is at all-time high. Integrating mobility technologies for most part is aimed at improving customer experience. The effectiveness of point-of-sale systems in billing and other related operations has earned the technology much popularity. For instance, the use of mobile receipt printers has surged across restaurants and retail sector worldwide. This advanced technology has helped these sectors curb unwanted expenditure.
The market is also gaining from the increasing demand for thermal PoS printers. The adoption of thermal PoS printers is rising in response to their declining cost. These printers are considered more efficient due to their fast printing capabilities. Especially in retail and hospitality sectors, the demand for these printers has accelerated, thereby helping the overall point of sale market gain momentum.
Advent of Cloud-based Technologies to Pose Threat
On the downside, the rising adoption of cloud-based PoS systems pose threat to the overall market. Prominent enterprises across diverse sectors are in constant search of advancements in technology. As they adopt cloud-based technologies to attain greater cost-effectiveness and operational efficiency, adverse impact is imminent on prospects of the point of sale receipt printer market. Moreover, health risks associated with bisphenol A (BPA) paper used in thermal PoS receipt printers also threaten the market.
Nevertheless, the rising use of point of sale receipt printers across emerging nations will continue creating lucrative market opportunities. "As governments in countries such as India and China take initiatives to make their economy less dependent on cash, the demand for point of sale receipt printers will rise in response," observed the TMR report's author. Besides this, the market is forecast to gain from the advent of erasable and color printing.
Get more information from Research Report Press Release @ http://www.transparencymarketresearch.com/pressrelease/point-of-sale-receipt-printer-market.htm
This review is based on a TMR report, titled "Point of Sale (PoS) Receipt Printer Market (Type - Desktop Receipt Printer and Mobile Receipt Printer; Technologies - Thermal, Impact/Dot Matrix, and Inkjet; End-Use - Hospitality, Healthcare, Retail, Warehouse / Distribution, Entertainment, Field Service, Government, and Transportation) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025."
The report segments the global point of sale receipt printer market as:
Global PoS receipt printer, By Type
- Desktop Receipt Printer
- Mobile Receipt Printer
Global PoS receipt printer, By Technologies
- Impact/Dot Matrix
Global PoS receipt printer, By End-Use
- Warehouse /
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