A report by Transparency Market Research has forecasted that the global point of sale (PoS) receipt printer market will rise at a 7.7% CAGR from 2016 to 2025 to worth US$ 4.2 bn by 2025.
Some of the prominent participants in the global point of sale (PoS) receipt printer market survey were Citizen Systems Europe GmbH, Bixolon Co., Ltd., SEIKO EPSON CORP., Posiflex Technology, Inc., HP Development Company L.P., Transact Technologies, Inc., POS-X, Star Micronics, Inc., TVS Electronics, and ZIH Corp.
The report said, a number of factors are said to be driving the market for point of sale (PoS) receipt printers which are mainly used to generate the receipt or bill of the transactions such as tickets and sales receipt.
The unique perceived benefit of PoS receipt printers are that they are accurate, efficient, and effective and hence produce quality receipts and within the shortest time. This has led to their swift uptake in the proliferating retail and hospitality sector in the recent years. Other sectors promoting demand for point of sale (PoS) receipt printers are healthcare, warehouse/distribution, and entertainment. It serves to fulfill their need for mobility too.
One factor, providing headwinds to the global point of sale (PoS) receipt printers market, however, is the increasing adoption of cloud based point of sale system. This is because of a rising crop of environmentally conscious consumers shifting towards paperless transaction, the report said.
Types of Receipt Printers
The different types of point of sale (PoS) receipt printers available in the market are desktop receipt printer and mobile receipt printer.
Among the two, the desktop receipt printer is estimated to contribute a substantial share in the market. This is because desktop receipt printer segment contains different alternatives to support any PoS machine to provide high quality printing speeds with paper jam detection. It supports essential receipt printing, slip printing or check validation. It includes all the critical desktop printer required to support various point of sale receipt printer application software, tools, and technologies. Examples of such desktop printer are thermal desktop printer, impact desktop printer with USB or Bluetooth connectivity and compatibility.
Geographically, the key segments of the global point of sale (PoS) receipt printers market are North America, South America, Europe, Asia Pacific, and the Middle East and Africa. Among them, North America holds a dominant share in the global point of sale (PoS) receipt printers market and going forward too, is slated to retain its leading share, the report further said.