POS Receipt Printers Market Size, Share, Growth and Industry Analysis by Type (Impact POS Receipt Printer, And, Thermal POS Receipt Printer) By Application (Hospitality, Retail, And, Other) Regional Forecast to 2032

Updated On: 29 April 2024

POS Receipt Printers Market REPORT OVERVIEW

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The global POS Receipt Printers market size was USD 3372.5 million in 2022 and market is projected to touch USD 8589.78 million by 2032, exhibiting a CAGR of 9.8% during the forecast period.

POS receipt printers are essential devices in the retail and hospitality industries. They efficiently print transaction receipts for customers after purchases, providing a convenient record of their transactions. These printers come in various types, including thermal, dot matrix, and inkjet, each offering different printing speeds and quality.

With easy integration into point-of-sale systems, these printers enhance operational efficiency, reduce errors, and improve customer service, making them indispensable tools for businesses worldwide. All of these factors are driving the POS receipt printers market growth.

COVID-19 Impact: Shift Towards Contactless Transactions During Pandemic Increased Market Growth

The COVID-19 pandemic created many challenging obstacles for all the markets throughout the world. With increased health and safety concerns, there was a shift towards contactless transactions to minimize physical interactions. As a result, demand surged for thermal receipt printers that offer fast, touch-free printing without the need for ink or ribbon replacement.

Many businesses also adopted digital receipt options to reduce paper usage and potential virus transmission. Furthermore, supply chain disruptions during lockdowns affected production and availability. Despite the challenges, the pandemic accelerated the adoption of advanced POS receipt technologies, promoting a safer and more efficient checkout experience for both customers and businesses.

LATEST TRENDS

"Emergence of Cloud-based Solutions to Fuel Market Growth"

Innovative trends in POS receipt printers are revolutionizing the retail and hospitality industries. Contactless technology has gained traction, with printers integrating NFC, QR code, and Bluetooth capabilities to enable seamless mobile payments and digital receipt delivery. Cloud-based solutions have emerged, allowing businesses to access and manage receipts remotely, streamlining operations and reducing paper waste. Moreover, modern receipt printers come equipped with advanced data analytics, providing valuable insights into customer behavior and sales trends. Additionally, eco-friendly thermal printers are becoming more prevalent, promoting sustainable practices by eliminating ink or ribbon usage. All of the above-mentioned trends are creating lucrative growth opportunities for the POS receipt printers market growth and development.

POS Receipt Printers Market SEGMENTATION

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• By Type:

The market can be divided on the basis of type into the following segments:

Impact POS receipt printer, and, thermal pos receipt printer. The impact POS receipt printer segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Hospitality, retail, and, other. The hospitality segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Growing Emphasis on Eco-friendly Practices to Accelerate Market Growth"

Several driving factors contribute to the advancement and adoption of POS receipt printers in the retail and hospitality sectors. First, the rising demand for faster and more efficient transactions has pushed for printers with high-speed and reliable printing capabilities. Second, the increasing popularity of contactless payments has led to the integration of NFC,

QR code, and Bluetooth technologies in receipt printers, enabling seamless mobile payment options. Third, the need for data analytics and sales insights has driven the development of printers with advanced reporting features. Lastly, the growing emphasis on eco-friendly practices has encouraged the use of thermal receipt printers, reducing the environmental impact of paper waste and ink usage.

"Versatile Connection Provided by Modern Printers to Propel Market Growth "

In addition to speed, contactless payment support, data analytics, and eco-friendliness, other driving factors in POS receipt printers include enhanced connectivity options. Modern printers offer versatile connectivity with Wi-Fi, Ethernet, and USB interfaces, ensuring seamless integration with various POS systems and devices. Moreover, the demand for compact and space-saving printers has grown, catering to businesses with limited counter space.

Multi-functionality is another key driver, with some printers serving as all-in-one solutions by incorporating barcode scanning and label printing capabilities. Additionally, the need for reliability and durability in high-volume environments has prompted the development of ruggedized printers that can withstand demanding operational conditions, enhancing their appeal to diverse industries. The above-mentioned factors are propelling the POS receipt printers market share.

RESTRAINING FACTOR

"Challenge in Adoption of Digital Receipts and E-commerce to Bring Down Market Growth"

Despite their advantages, POS receipt printers face certain restraining factors. One significant challenge is the increasing adoption of digital receipts and e-commerce, reducing the overall demand for printed receipts. This trend has led to a shift towards paperless transactions, affecting the need for traditional receipt printers.

 Additionally, cost considerations play a role, as advanced features and connectivity options can lead to higher printer prices, potentially deterring cost-sensitive businesses. Moreover, the evolving regulatory environment and privacy concerns around printed receipts have led to a focus on data protection and secure receipt disposal. These factors can have a negative impact on the development of the POS receipt printers market.

POS Receipt Printers Market REGIONAL INSIGHTS

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"North America to Dominate Market in Upcoming Years"

North America is the leading region in the POS receipt printer market. The region's dominance was attributed to its well-established retail and hospitality sectors, which continuously demanded cutting-edge point-of-sale solutions. North America's emphasis on technology adoption and infrastructure development facilitated the widespread integration of advanced POS systems, including receipt printers with contactless payment support and cloud-based functionalities.

Additionally, the region's early focus on eco-friendly practices drove the adoption of thermal receipt printers, reducing paper waste. With a customer-centric approach and a growing inclination towards digitalization, North America showcased sustained growth and innovation in the POS receipt printer market.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Citizen Systems (Japan)
• Epson (Japan)
• HP (U.S.)
• Star Micronics (Japan)
• Bixolon (South Korea)
• BOCA Systems (U.S.)
• Cognitive TPG (U.S.)
• NCR (U.S.)
• POSX (U.S.)
• Pertech Industries (U.S.)
• Woosim Systems (South Korea)
• Xiamen Rongta Technology (China)
• Zebra (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations