The POS Receipt Printers Market showcased robust growth in 2022, with a total market size of US$ 3.4 billion. This figure is set to rise, with projections indicating that by 2023, the market will expand to US$ 3.9 billion. Over the forecast period, the industry is poised to experience a remarkable 11.3% Compound Annual Growth Rate (CAGR), eventually reaching a substantial US$ 11.2 billion by 2033.
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Key Takeaways:
- The global POS receipt printers market is on an upward trajectory, expected to reach US$ 3.9 billion by 2023 and a substantial US$ 11.2 billion by 2033.
- Mobile POS receipt printers are set to outpace desktop printers, driven by increasing adoption across diverse industries.
- North America and Europe maintain their market dominance, while the Asia-Pacific region showcases significant growth potential.
- Challenges include pricing pressures and the gradual shift towards digital receipts, impacting the long-term demand for physical printing.
Drivers and Opportunities: One key driver behind this remarkable growth is the increasing demand for Mobile POS Receipt Printers, which is expected to outpace the demand for desktop printers. This trend can be attributed to the surging popularity of mobile printing technology across various sectors, including retail, healthcare, and hospitality. As businesses seek to enhance efficiency and convenience, the adoption of mobile POS receipt printers is set to skyrocket, offering lucrative opportunities for market players.
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Competitive Landscape – Regional Trends: Regionally, the market exhibits intriguing dynamics. North America and Europe are anticipated to maintain their positions as significant revenue generators, owing to the presence of established businesses and a tech-savvy consumer base. Meanwhile, the Asia-Pacific region is poised for exponential growth, driven by the rapid expansion of retail and hospitality sectors. Emerging markets in Latin America and the Middle East are also catching up, creating a competitive landscape with diverse regional trends.
Restraints: Despite the promising growth, the POS receipt printer market faces challenges in the form of pricing pressures and competition. Price-sensitive markets may limit profit margins for manufacturers. Additionally, the industry must contend with the ongoing digitalization of receipts, potentially reducing the demand for physical receipt printing in the long term.
Region-wise Insights – Category-wise Insights: Within the global POS receipt printer market, North America and Europe dominate the market share. In North America, the retail sector remains the primary driver, while in Europe, healthcare and hospitality play pivotal roles. The Asia-Pacific region is witnessing remarkable growth, particularly in the retail sector. In terms of product categories, thermal receipt printers are gaining prominence due to their reliability and cost-effectiveness.
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Segmentation in POS Receipt Printers Market Research Report
POS Receipt Printers Market by Type:
- Desktop Receipt Printer
- Mobile Receipt Printer
POS Receipt Printers Market by Technology:
- Thermal
- Impact/Dot Matrix
POS Receipt Printers Market by End Use:
- Hospitality
- Healthcare
- Retail
- Entertainment
- Other End Uses
POS Receipt Printers Market by Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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