SEATTLE, April 13, 2020 (GLOBE NEWSWIRE) -- Receipt printers are an important part of a point of sale (POS) system and are used in retail environments to print credit card slips and customer receipts. The most common receipt printer for PoS systems is the thermal printer. PoS receipt printers are used in several industries such as retail, restaurants, hospitality and tourism, healthcare, and others.
The global point of sale (PoS) receipt printers market was accounted for US$ 2,666.0 Mn in terms of value and expected to reach 4,877.0 Mn by 2027.
Market Drivers
Increasing number of restaurants is expected to propel growth of the global point of sale (PoS) receipt printers market over the forecast period. For instance, according to National Restaurants Association’s 2019 report, there are over 1 million restaurant locations in the U.S.
Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/3649
Moreover, rapid growth of the e-commerce industry is also expected to boost the market growth. For instance, according to India Brand Equity Foundation, the e-commerce sector in India is expected to reach US$ 200 billion by 2026 from US$ 38.5 billion as of 2017.
Market Opportunities
Launch of new POS restaurant management system is expected to offer lucrative growth opportunities for players in the market. For instance, in August 2019, Epson America, Inc., announced that Lavu, a major mobile POS system for restaurants and bars, will integrate Epson receipt printers with its newly launched Lavu 4.0.
Moreover, increasing adoption of thermal PoS receipt printers is also expected to aid in growth of the market. Thermal printers are easy-to-use and print with faster rate compared to other printers. Moreover, these printers are lightweight and durable.
Buy-Now this Report @ https://www.coherentmarketinsights.com/insight/buy-now/3649
Key Takeaways:
APAC is expected to create a lucrative opportunity for global point of sale (PoS) receipt printers market. 2020-27 this is owing to changing government policies in developing economies such as India and China. On 8 November 2016, Prime minister of India implemented demonetization of Indian rupee 500 and 1000 banknotes will not be available. To tackle this short banknotes problem government of India emphasize on using credit card and debit card for daily use. Thus use of debit and credit card in retail sector is helped Point of sale receipt market grow in APAC region.
Among type segment, mobile receipt printer segment is expected to dominate the global point of sale (PoS) receipt printers market over the forecasted period 2019-27. This is owing to compact nature and ease of operation of mobile receipt printer. Mobile receipt printer is mostly useful for small and medium size merchants. Furthermore, to capture this small and medium size market key players are focusing on launching new products. For instance, in November 2019, Seiko Epson Corporation, launched new TM-T20III POS Receipt Printer. This printer is suitable for retailers, restaurants and food service operations.
Among end use segment hospitality, sub segment is expected to create a lucrative opportunity for global point of sale (PoS) receipt printers market. This is owing flexibility provided by point of sale receipt printer to the consumer by reducing the transaction time. Moreover, hospitality market is increasing rapidly, particularly restaurants and hotels chains. According to report published by India Brand Equity Foundation in December 2019, international hotels are increasing in India, as it will account for around 47 per cent share in the Tourism & Hospitality sector of India by 2020 & 50 per cent by 2022.
Competitive Landscape
Major players operating in the global point of sale (PoS) receipt printer market include, Bixolon Co., Ltd., ZIH Corp, Citizen Systems Europe GmbH, TVS Electronics, Seiko Epson Corp., Transact Technologies, Inc., HP Development Company, L.P., Star Micronics, Inc., and Posiflex Technology, Inc.
Key Developments
Major players in the market are focused on launching new products to expand their product portfolio. For instance, in January 2020, Toshiba America Business Solutions launched durable, splash-resistant POS receipt printers for the hospitality market.
Similarly, in July 2019, Citizen Systems Europe GmbH introduced FRONT-LOADING and FRONT-EXIT CT-S751 and the 4-INCH WIDE CT-S4500 printers.
Read Report Summary @ https://www.coherentmarketinsights.com/market-insight/point-of-sale-pos-receipt-printer-market-3649
Market Segmentation:
Global Point of Sale Receipt Printer Market, By Type
- Desktop Receipt Printer
- Mobile Receipt Printer
Global Point of Sale Receipt Printer Market, By Technology
- Thermal
- Impact/Dot Matrix
- InKjet
Global Point of Sale Receipt Printer Market, By End-use
- Hospitality
- Healthcare
- Retail
- Warehouse / Distribution
- Entertainment
- Others (Field Service, Government, Transportation, etc)
Global Point of Sale Receipt Printer Market, By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa