Point Of Sale (Pos) Receipt Printer Market Analysis and Forecast 2020: By Keyplayers Bixolon Co., Ltd., ZIH Corp, Citizen Systems Europe GmbH, TVS Electronics, Seiko Epson Corp., Transact Technologies, Inc., HP Development Company, L.P., Star Micronics, I
A receipt printer is a crucial device in point of sale (PoS) system where they are used in retail environments to print credit card slips and customer receipts. In layman’s terms, point-of-sale (PoS) printers are typically used to provide the transcript of the transactions such as tickets and sales receipts. The PoS receipt printer is majorly used in the restaurant industry to print off order back in the kitchen or at the bar. PoS printer plays a crucial role in minimizing the printing time and generating quality receipts as compared to conventional receipt printers. Different types of printers are used such as inkjet printer, dot-matrix printer, thermal printers, and more. Apart from restaurants, PoS printers are used in healthcare, retail, entertainment, warehouse/distribution, hospitality, etc. industries.
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.
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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.
Market Dynamics- Drivers
1. Rising need for mobility in retail and hospitality applications is expected to drive growth of the global point of sale (PoS) receipt printer market during the forecast period
Consumers across the retail and hospitality sectors are increasingly adopting mobility technology to improve the customer experience and enhance the effectiveness of point of sale (PoS) systems for billing and other related purposes. The use of mobile receipt printers in both retail and restaurant applications can help to achieve significant cost savings since conventional PoS systems are more expensive and do not allow mobility. Moreover, the mobility feature optimizes the checkout process since it enables customers to complete transactions by skipping the queue at the counter. Moreover, faster checkout processes help to increase transaction numbers for both hospitality and retail applications. Thus, these factors are expected to drive the market growth during the forecast period.
2. High demand for thermal point of sale (PoS) printers is expected to propel the global point of sale (PoS) receipt printer market growth over the forecast period
Thermal PoS receipt has been adopted significantly in many sectors due to declining prices. Since thermal printers provide fast printing and are more efficient than other printers, their demand is increasing exponentially, typically across the hospitality and retail sectors. Its other features include low printing cost, enhanced print quality, and reduced maintenance. Thus, these factors are expected to boost the global point of sale (PoS) receipt printer market growth in the near future.
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1. Rising demand for PoS printers can provide major business opportunities
Since more and more people are using cards for payments, the demand for PoS printers is expected to increase significantly during the forecast period. Governments of many countries such as China and India are taking proactive initiatives to make their economies less cash-dependent, which is why taxes have been minimized on PoS devices to support more cashless transactions. Moreover, integrating PoS printers with additional features including wireless connectivity, NFC, Bluetooth, etc. is expected to boost the demand for advanced PoS printers, thereby provide major business opportunities for market players.
2. Emergence of erasable and color printing is expected to present lucrative growth opportunities
Many companies are focused on novel ways to reduce the wastage of paper, thus manufacturers have already started investing in new technologies to produce innovative products. Erasable printing is one such technology under development, which can be used to reduce paper wastage through reuse. Moreover, color printers are expected to gain significant traction in the market, which is currently dominated by black and white printers.
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1. North America Trends
On the basis of the end-use industry, hospitality segment is expected to gain a significant share in the North America point of sale (PoS) receipt printer market during the forecast period. In this, restaurant sub-segment is expected to contribute to major share as compared to other sub-segments. This is owing to flexibility and ease that PoS machines provide to the customers and the restaurant owners by facilitating fast transactions of bills thereby allowing increased customer throughput and boosting sales. Moreover, growing adoption PoS machines in the restaurant industry is expected to drive the regional market growth in the near future.
2. Europe Trends
In Europe point of sale (PoS) receipt printer market, thermal PoS printers are expected to witness high adoption and drive the regional market growth. Benelux, South Europe, and Germany are expected to be the major contributor in the increasing demand for thermal PoS printer in 2015 as compared to 2014. This trend is expected to continue during the forecast period.
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