Point Of Sale (Pos) Receipt Printer Market Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027


Posted April 1, 2021 by shrushtig

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.
 
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.
Market Dynamics- Drivers
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.
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.
North America region dominated the global point of sale (PoS) receipt printer market in 2019, accounting for 28.6% share in terms of value, followed by Europe and Asia Pacific, Middle East and Latin America respectively.
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Market Dynamics- Restraints
Rising adoption of cloud-based PoS systems is expected to restrain growth of the global point of sale (PoS) receipt printer market during the forecast period
Consumers in the market are focused on avoiding paper-based receipts and prefer e-receipts that are more convenient, more informative, less time consuming, more secure, and can be accessed via smart devices anywhere. This, in turn, is expected to hinder the sales of PoS receipt printers and thereby restrain the global point of sale (PoS) receipt printer market growth in the near future.
Health risk arising from bisphenol A (BPA) paper used in thermal PoS printers is expected to hamper the global point of sale (PoS) receipt printer market growth over the forecast period
The layers on direct thermal PoS printer contain a small amount of BPA, phenol-based reactants, or diphenyl sulfones that respond to heat to create the picture on papers. Bisphenol A (BPA) is a type of paper used in a thermal PoS printer that increases health risks associated with consumers. According to the U.S. Food and Drug Administration (FDA), in January 2010, the BPA used in thermal printers pose a risk of health hazards, especially for employees working as cashiers. Consequently, governments around the globe, primarily in countries such as Canada, Japan, and the U.S., are imposing bans on BPA. This ban is further restricting the growth of the POS printers market.
Market Opportunities
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.
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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Tags point of sale pos receipt printer market outlook , point of sale pos receipt printer market share , point of sale pos receipt printer market size
Last Updated April 1, 2021