Point-of-Sale (POS) Printers Market to Perceive Substantial Growth during 2024

Point-of-Sale (POS) printers are specifically used to generate the transcript of the transactions such as sales receipt & tickets. These printers have emerged as an effective, accurate and efficient printing solution in the recent years. POS printers have played a significant role by reducing the printing time and generating quality receipts as compared to the conventional receipt printers. Elevation of retail & hospitality market has augmented the need for better service delivery model and customer service, which has helped drive the demand for such friendly solutions.

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POS printers market is segmented on the basis of printing technology, types and end-use industry. On the basis of printing technology, these are further segmented as dot-matrix printers, thermal printers, laser printers and ink-jet printers. Dot matrix printers have tiny pins mounted on its head with an ink ribbon to produce series of dots on the paper. These printers are the least expensive and involve minimal operating cost. Thermal printers are most commonly used and effective printers in terms of quality of printing, speed and functioning with respect to dot matrix printers. These printers work on the basis of heat generated between the thermal head and thermal-sensitive paper used. Thermal printers are effective POS solutions in providing multi-colored and double-sided printing. Ink-jet printers are effectively used in printing high-quality color logos and coupons receipts and require ink cartridges. These printers shoot tiny ink droplets on paper for generating print. Currently, POS printers are available with market-specific demands and provide many variants. On the basis of printer types, POS printers market is segmented as receipt printers, mobile receipt printers, multifunction printers, and kiosk receipt printers. Receipt printers are ideal solutions for printing bills, tickets and other general purpose receipts. Mobile receipt printers provide printing mobility. These printers have integrated advanced connectivity services such as Wi-Fi, Bluetooth and USB connectivity for convenient printing on the go. Further, these printers provide connectivity through Android and IOS software platforms. Multifunction printers as the name suggest are needed for generating multiple receipts at demand driven locations such as validation printing at airports and cheque processing at banks. These printers are significantly used in places such as retail stores, financial organizations and airports. Kiosk receipt printers are commonly deployed in self-check-out kiosks/desks. These printers help in delivering better, automated and efficient consumer experience.

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The POS printers market in terms of its end-users can be portrayed as highly fragmented market with higher adoption across most of the industries. On the basis of end-use industry, POS printers market is classified as retail, banking, healthcare entertainment, transport, hospitality and others (fuelling, education and services).The increasing financial investments in retail sector and growing urbanization has played an important role in driving the adoption of POS printers in retail industry.

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Rapid urbanization, especially in rising economies, is the key factor driving this market. Convenient and fast delivery has led to the adoption of POS printers in multiple end-use industries. Alongside this, higher portability and low operating cost has further boosted its adoption and subsequently ascended the market growth. In addition, overall growth observed in related POS systems such as display POS systems and tablet POS has fuelled the POS printer's market growth. However, increasing trends for cloud-based POS systems is anticipated to restrain its adoption and subsequently the market growth. Of late, consumers prefer e-receipts and avoid paper-based receipts, which is expected to curb the market growth. Further, use of POS printers in the small and medium scale businesses with reducing cost of ownership is expected to lead its demand in the near term. On a global scale, North American region is expected to hold the largest market share amongst the other regions. This is mainly due to the early adoption of POS systems to deliver quality customer services. On the other hand, Asia Pacific region is anticipated to record comparatively higher growth as compared to the other regional markets. Increasing urbanization in the countries like China and India will hold the key in developing the regional market.

Some of the key manufacturers of the POS printers includes, Epson America, Inc., NCR Corporation, Media Data Systems Pte Ltd., Pinnacle Technology Corp., Star Micronics Co., Ltd., TOSHIBA Global Commerce Solutions, Inc., Citizen Systems Japan Co., Ltd., Bixolon Co., Ltd, and Fujitsu Ltd.

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