Receipt Printers – Market Trends, Drivers, and Growth Prospects until 2021

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According to Technavio’s latest market research study, the global receipt printers market is expected to grow at a CAGR of more than 12% during the forecast period, 2017-2021.

This report by Technavio provides an in-depth analysis of the global receipt printers market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.

Technavio research analysts categorize the market based on the product type

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The top three revenue contributing product segments are discussed below:

Global thermal receipt printers market: The high growth of the global thermal receipt printers market is attributable primarily to the consistent demand from rising demand from segments such as restaurants, retail, and banks. The high adoption of thermal receipt printers is fueled by their low operating cost and high-quality output, which is a key competitive edge over other variants that are currently available in the market. Industry analysts at Technavio anticipate the global thermal receipt printers market to reach almost USD 2,413 million in revenue by 2021.

The printing speed is one of the key differentiators for thermal printers. It helps in the quick printing of receipts, thereby reducing queues. High-quality prints and functionalities such as NFC, RFID, and Bluetooth will support the adoption of thermal receipt printers compared with impact variants,” says Sunil Kumar Singh, a lead analyst at Technavio for research on computing devices.

Global impact receipt printers market: Even though impact printers are still being used by several retail chains, it possesses reduced functionalities compared with thermal printers such as quality print, processing, and multi-connectivity. This is due to the use of a dot matrix print head and ink ribbon to print text onto plain paper. This style allows for easy printing of duplicates that are more resistant to external factors. This makes impact printers an ideal choice for use in kitchens, dry cleaners, or any business, where temperature and humidity can make thermal receipts difficult to read.

Global inkjet receipt printers market: Inkjet technology is not considered to be ideal for receipt printers because of the expensive nature of inkjet technology and high cost of spares. The share of these devices will likely decline during the forecast period, and the use of these devices for receipt printing will eventually be eliminated. The global market for inkjet receipt printers is anticipated to post growth a CAGR of over 2% during the forecast period.

The top vendors operating in the global receipt printers market are:

  • Citizen Systems
  • Epson
  • Star Micronics

Other prominent vendors in the market include Bixolon, BOCA Systems, Cognitive TPG, CUSTOM, M/s Pulsar Technologies (I), NCR, Pertech Industries, POS-X, WOOSIM SYSTEMS, Xiamen Rongta Technology, and ZIH.

A more detailed analysis is available in the Technavio report titled, ‘Global Receipt Printers Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.

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