Technavio, a tech-focused market research firm, has published a new report on the global POS receipt printer market, which is expected to experience steady growth with a CAGR of close to 9% during the forecast period.
This latest report by Technavio covers the market outlook and growth prospects of the global POS receipt market for 2016-2020, considering 2015 as the base year. In addition, an overview of the market, key leading countries, vendor landscape, and a detailed analysis of the top vendors operating in this market are covered in the report.
Based on geographical division, Technavio market researchers segment the global POS receipt printer market into the following key regions: North America, Europe, APAC, and ROW.
Geographical segmentation of the global POS receipt printer market for 2015 (market share %)
|
North America |
41.26% |
|
APAC |
32.17% |
|
Europe |
17.89% |
|
ROW |
8.68% |
Source: Technavio
North America: largest revenue-generating region for POS receipt printers
The growth of the POS receipt printer market in North America is fueled primarily by the growing restaurant business in the region. The restaurant industry in the US registered sales worth more than $700 billion in 2015. The increased adoption POS systems are spurred by the bleak outlook of the traditional retail format. POS systems with technically advanced hardware like high-speed portable receipt printers and all-in-one POS (including tablet personal computers, cash drawer, and receipt printer) can enhance the overall look and feel of supermarket and hypermarket chains.
According to Abhay Sinha, a lead analyst at Technavio, “Companies across the globe are developing technologies to reduce the wastage of paper and, in turn, carbon emissions due to growing environmental concerns associated with paper wastage. POS systems are expected to be equipped with various technologies that support overwriting or excessive printing. Such erasable printing technologies allow the removal of printed content or ink on a page using heat through the heat plate placed in the printer. Besides, the technology can also help reduce vendors’ paper imports and stock keeping costs.”
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POS receipt printer market in Europe
The market’s growth in Europe is anticipated to be relatively slow due to the flat growth rate of the retail industry in the region over the past few years. The sluggish growth of the European retail industry is due to the weakening performance of hypermarket stores and the rapid growth of e-commerce platforms. Changes are also being observed in the consumer lifestyle of Europeans. As a result, hypermarkets are losing their share to online retailing and other accessible channels like convenience stores and discounted stores. During the forecast period, convenience stores and value store are projected to witness significant growth in the region. This trend is expected to reflect positively on the sale of POS receipt printers in Europe over the next four years.
POS receipt printer market in APAC
Receipt printers have been gaining traction in the market in APAC since early 2016. The majority share of the revenue from the POS receipt printer market in APAC is generated in India. The growing hypermarkets and supermarkets channel accounts for half of the overall POS system shipments in India. The retail industry is one of the fastest-growing industries in the country due to the entry of several new players. With the government of India easing FDI regulations, numerous retail stores are likely to open in the forecasted period, increasing the sales of POS receipt printers. For example, in 2016, Apple announced its plan to open a new store under the new investment rules in India as well as a manufacturing unit. Furthermore, investments are being made in fashion and apparel retail stores in the country, which, in turn, is augmenting the demand for POS receipt printers.
POS receipt printer market in ROW
Several economic, social, demographic factors are fueling the growth of the retail industry in ROW. The rising purchasing power and strong GDP growth in the region are encouraging investors to show increased interest in the market. International retailers from the US and Europe are also expanding their presence in the region to gain market shares. Countries such as Qatar, the UAE, and Kuwait have immense potential for the growth of the retail sector. The rise in the number of retail outlets in the region is expected to trigger an upsurge in the demand for POS receipt printers in this region by 2020.
The top leading vendors operating in the global golf equipment market are:
- Citizen Group
- Epson
- HP
- Star Micronics
Other prominent vendors in the market include Bixolon, BOCA Systems, Cognitive TPG, NCR, POSX, Pertech Industries, Woosim Systems, Xiamen Rongta Technology, and Zebra.
A more detailed analysis is available in the Technavio report titled, ‘Global POS Receipt Printer Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global POS Terminals Market 2016-2020
- POS Terminals Market in the US 2015-2019
- POS Software Market in EMEA 2015-2019
- Global Wireless POS Terminals Market 2015-2019
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