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POS Printer Market Segments: By Product Type (Thermal Printer, Impact/Dot Matrix and Inkjet); By Application (Hospitality, Retail and Other); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
[ 170 + Pages Research Report ] POS Printer Market to surpass USD 4,875.0 Mn by 2030 from USD 2,536.0 Mn in 2018 at a CAGR of 5.41% throughout the forecast period, i.e., 2019-30.
POS printers are available with market-specific specifications and have several variants. The consumption of POS printers is segmented into receipt printers, handheld receipt printers, multifunction printers, and kiosk receipt printers based on printer forms. For printing bills, tickets, and other general-purpose receipts, receipt printers are perfect solutions. Mobile receipt printers offer versatility while printing. For quick printing on the go, these printers have incorporated advanced networking services such as Wi-Fi, Bluetooth, and USB connectivity. Besides, these printers provide communication via the app platforms of Android and IOS. As the name suggests, multifunction printers are required to produce multiple receipts at demand-driven locations, such as airport validation printing and bank cheque processing. In locations such as department stores, financial organizations, and airports, these printers are used extensively. These printers help to provide better, automated, and effective distribution.
Global POS Printer Market to surpass USD 4,875.0 Mn by 2030 from USD 2,536.0 Mn in 2018 at a CAGR of 5.41% throughout the forecast period, i.e., 2019-30. Increasing deployment of POS terminals, increasing demand for POS printers, and increasing focus on optimizing product value offerings are driving the market. Furthermore, the growing deployment of POS terminals is expected to fuel market growth as well. The need for a better service delivery model and customer service has been intensified by the growth of the retail & hospitality industry, which has helped in boosting demand for such friendly solutions. Increasing financial investment in the retail sector and increasing urbanization have played an important role in promoting the adoption of POS printers in the retail sector.
Global POS Printer Market is segmented by Product Type as dot-matrix printers, thermal printers, laser printers, and ink-jet printers. In the global (POS) printer market, the thermal, segment dominated the global market in 2019 accounting for 75.6% share in terms of value, followed by impact/dot matrix and inkjet respectively. Dot-matrix printers have small pins with an ink ribbon fixed on their heads to create a sequence of dots on paper. Such printers are the least costly and require low running costs. In terms of print quality, speed, and operation concerning dot matrix printers, thermal printers are the most widely used and efficient printers. These printers operate between the thermal head and thermal-sensitive paper used based on the heat produced. In providing multi-colored and double-sided printing, thermal printers are efficient POS solutions. Ink-jet printers are used easily to print high-quality color logos and receipts for coupons and need ink cartridges. To produce print, these printers fire tiny ink droplets on paper.
Global POS Printer Market is segmented by application into Hospitality, retail, and others. The greater market share of XX.X% in 2018 was accounted for by the Hospitality segment in the POS Printer market. Compared to other sub-segments, the restaurant sub-segment is projected to contribute to this large share. This is because POS machines provide consumers and restaurant owners with versatility and ease by facilitating fast bill transactions, enabling improved customer throughput, and boosting sales. Moreover, shortly, the increasing adoption of POS machines in the restaurant industry is expected to drive regional market growth. To appeal to the preference for cashless transactions of modern visitors, most tourist destinations are also integrated with POS solutions. Likewise, POS printers are also increasingly being adopted mainly for receipt printing, drug printing, and order label printing in the healthcare industry. The increasing use of POS printers in many end-user industries would thus drive the growth of the market in the coming years.
Rising need for mobility in retail and hospitality applications
To enhance customer service and improve the performance of point of sale (POS) systems for billing and other related purposes, customers across the retail and hospitality sectors are rapidly embracing mobility technology. As traditional POS systems are more costly and do not allow mobility, the use of mobile receipt printers in both retail and restaurant applications will help to achieve substantial cost savings. In addition, the versatility function optimizes the process of checkout as it allows clients to complete transactions by skipping the line at the counter. Moreover, for both hospitality and retail applications, quicker checkout processes help to increase transaction numbers. Thus, during the forecast period, these factors are expected to drive market growth.
The emergence of erasable and color printing
Many businesses are working on creative ways to minimize paper waste, so producers have already begun to invest in new technology to manufacture innovative goods. One such technology under development is erasable printing, which can be used to minimize paper wastage by reuse. Also, color printers, currently dominated by black and white printers, are expected to gain substantial market traction.
Health risks arising from bisphenol A (BPA) paper used in thermal POS printers
The direct thermal PoS printer layers contain a small amount of BPA, phenol-based reactants, or heat-responsive diphenyl sulfones that produce an image on paper. Bisphenol A (BPA) is a type of paper used in a thermal PoS printer that increases consumer-related health risks. U.S. according to The BPA used in thermal printers by the Food and Drug Administration (FDA) in January 2010 poses a risk of health hazards, especially for employees working as cashiers. Consequently, governments across the globe are enforcing bans on BPA, mainly in countries such as Canada, Japan, and the United States. This ban further restricts the growth of the demand for POS printers.
BIXOLON Co. Ltd
Global POS Printer Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.
Global POS Printer Market in the Asia Pacific and Europe held the largest market share of XX.X% in the year 2018 and is expected to witness the fastest growth in the APAC region during the forecast period. The APAC region, followed by North America, Europe, South America, and MEA respectively, led the POS printer market share in 2019. During the forecast period, due to factors such as the rapid growth of the retail segment and the increasing number of SMBs in emerging economies moving from cash transactions to cashless transactions via POS terminals, the APAC area is expected to report the highest incremental growth. Although North America and Western Europe are expected to capture top market positions in terms of thermal printer sales, research shows that APAC, MEA, and Latin America's emerging economies have substantial potential for growth to support the market shortly.
The Global POS Printer market, which is highly competitive, consists of several major players such as Avery Dennison Inc., and Seiko Epson Corporation holds a substantial market share in the Global POS Printer market. Other players analyzed in this report are Toshiba Tec Corporation, TSC Auto ID Technology Co., Ltd, SATO Holdings Corporation, Honeywell International Inc., TransAct Technologies Incorporated, and Domino Printing Sciences PLC among others.
Key players are adopting inorganic growth strategies such as product launches in the global nutritional supplement market. For instance, Toshiba Tec Corporation, TSC Auto ID Technology Co., Ltd, SATO Holdings Corporation, Honeywell International Inc., TransAct Technologies Incorporated, and Domino Printing Sciences PLC.
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
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