At the forefront of driving growth in the global point of sale (PoS) receipt printers market are the sectors of retail, hospitality, healthcare, warehouse/distribution, and entertainment. Their explosive growth in the recent past has served to boost demand for PoS receipt printers which accord a number of advantages such as mobility, accuracy, and less time in printing.
While the efficacy of global point of sale (PoS) receipt printers, on one hand, is working in favor of their market, providing headwinds to the market, on the other, is the swift uptake of cloud based point of sale system. This is because of a rising crop of environmentally conscious consumers shifting towards paperless transaction.
Despite all the hurdles, the market for global point of sale (PoS) receipt printers will likely expand at a healthy clip. A report by Transparency Market Research predicts the market to rise at a CAGR of 7.7% during the period between 2016 and 2025 to become worth US$ 4.2 bn by 2025.
Mobile Receipt Printer to Outshine Vis-à-vis Growth
The two types of point of sale (PoS) receipt printers available in the market are desktop receipt printer and mobile receipt printer. Of the two, the desktop receipt printer segment is more popular and hence contributes significantly to the market. Its swift uptake is on account of the different alternatives it supports in any PoS machine to provide high printing speeds with paper jam detection. It also supports essential receipt printing, slip printing, or check validation. It includes all the critical desktop printer required to support various point of sale receipt printer application software, tools and technologies. Examples of such desktop printer are thermal desktop printer, impact desktop printer with USB or Bluetooth connectivity and compatibility.
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The mobile point of sale (PoS) receipt printer accords mobility as it helps to access POS machine on the go. These printers are best suitable for the customers that require mobility in receipt printing in their business. Mobile PoS printer also has an options for USB, Wi-Fi, and Bluetooth connectivity. In terms of growth rate, the mobile receipt printer segment will likely surpass the desktop receipt printer.
Thriving Hospitality Sector Promoting Stellar Growth in Asia Pacific Market
From a geographical standpoint, North America is a leader in the global point of sale (PoS) receipt printers market. Its market was worth US$591.47 mn in 2015 and going forward too, the region is expected to hold on to its dominant share. The region’s growth is mainly led by the U.S. and Canada, which are home to many big retail brands, namely Walgreen, Wal-Mart Stores, The Home Depot, The Kroger Co, Costco, Target, etc. A well-established hospitality sector, the booming fast food chain and restaurants industry, and the thriving entertainment sector is also majorly fuelling the market in North America.
The market for point of sale (PoS) receipt printers in Europe is mainly being powered by France, Germany, and the U.K. Asia Pacific is another key region which is expected to see rapid adoption of PoS receipt printers and hence grow at a good clip. The hospitality segment in the region will likely be a major contributor the market. China and India are expected to gross maximum revenue in the region.
Some of the prominent participants in the market are Citizen Systems Europe GmbH, Bixolon Co., Ltd., SEIKO EPSON CORP., Posiflex Technology, Inc., HP Development Company L.P., Transact Technologies, Inc., POS-X, Star Micronics, Inc., TVS Electronics, and ZIH Corp.