Global Point of Sale (POS) Receipt Printer Market was valued at US$ 4.91 Billion in 2022, and is projected to reach US$ 9.9 Billion by 2030, exhibiting a CAGR of 9.3% over the forecast period (2023-2030), according to Global Point of Sale (POS) Receipt Printer Market Report, By End-use Industry (Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment, and Others), By Type (Desktop Receipt Printer and Mobile Receipt Printer), By Technology (Thermal Printer, Impact/Dot Matrix and Inkjet) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
A point of sale (PoS) receipt printer is a critical device in point of sale system, typically used in retail environments to print credit card slips and customer receipts. There are three types of PoS receipt printers used namely dot matrix printer, thermal printer, and inkjet printer. Industries such as healthcare, hospitality, retail, and others are increasingly using new payment functionalities that eliminate the conventional, time-consuming process of customers waiting for service staff them to bring the bill. PoS system can help customers to complete payments quickly and more efficiently during peak hours and help organizations gain a competitive advantage in the market.
Global Point of Sale (POS) Receipt Printer Market - Drivers
Growing Retail and Hospitality Sectors
The expansion of the retail and hospitality industries worldwide is a significant driver for the global point of sale (PoS) receipt printer market. As businesses in these sectors continue to grow and modernize their operations, there is an increasing demand for efficient and reliable POS systems, including receipt printers. The rising number of supermarkets, department stores, restaurants, cafes, hotels, and other retail establishments further fuels the need for POS receipt printers to facilitate smooth and fast transaction processing. For instance, according to the data published by IBEF (India Brand Equity Foundation), a trust established by Ministry of Commerce, Government of India, updated in July 2023, the retail sector accounts for around 10% of India’s GDP, and this shows the sheer potential and vastness of the retail sector. The continuous expansion of the retail sector would ensures the demand for POS receipt printer keeps on rising during the forecast period, as the retail sector moves towards technological integration.
Global Point of Sale (POS) Receipt Printer Market- Restraints
Environmental Concerns and Paperless Initiatives
Increasing awareness of environmental issues and sustainability is leading to a push for paperless initiatives in various industries. Businesses and consumers are becoming more conscious of their ecological footprint and are actively seeking ways to reduce paper waste. As a result, there is a growing preference for digital receipts and a shift towards paperless transactions. This trend could limit the demand for traditional POS receipt printers that rely on thermal or impact printing on physical paper, as businesses and customers alike seek to minimize their use of paper-based receipts. For instance, on March 2, 2023, California State Assembly passed a bill that would ban businesses from handling customers the receipt unless they ask for it. This bill was passed with an objective to move towards paperless receipts in business transactions.
Global Point of Sale (POS) Receipt Printer Market- Key Developments
In November 2022, BIXLON, a global manufacturer of mobile POS printers, announced the launch of the new thermal POS printer named, ‘XT3-40’. The new printer is capable of handling high volume labeling and receipt generation for variety of sectors.
In February 2021, Fujitsu, a global manufacturer and supplier of electronic components, announced the launch of new POS printer named, ‘FP-200CL’, which can be used in applications such as, receipt generation, labeling, and generation of customized coupons for retail stores, restaurants and other industries.
Global Point of Sale (POS) Receipt Printer Market - Impact of COVID-19
The COVID-19 pandemic accelerated the adoption of cloud-based and mobile POS systems as businesses sought to improve flexibility and remote management capabilities. These systems integrate seamlessly with receipt printers and provide real-time data access, enabling businesses to adjust their strategies and operations promptly. To minimize physical contact during transactions, there was an increased preference for contactless payment methods. This trend reduced the need for printed receipts, as many customers opted for digital receipts and contactless payment confirmations. On the other hand, with lockdowns and restrictions in place to contain the spread of the virus, physical retail stores experienced a significant decline in foot traffic. This led to a decrease in the number of transactions, and subsequently, a reduced demand for POS receipt printers.
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Key Trends and Analysis of the Global Point of Sale (POS) Receipt Printer Market:
- By technology, the thermal printer segment held a dominant position in 2022 and is projected to retain its dominance throughout the forecast period. Thermal printers provide improved features like faster printing speed, quiet operation, high quality printing, portability, and others. These benefits have resulted in the increased adoption of thermal printers as a preferred choice for POS receipt printing.
- North America held a dominant position in the global point of sale (POS) receipt printer market in 2022 and is expected to maintain its dominance during the forecast period, owing to a highly advanced technological infrastructure and inclination of market players operating in retail, hospitality, and related sectors in adopting POS system solutions
- Global point of sale (POS) receipt printer market
- Europe is also expected to show significant growth during the forecast period, owing to the prevalence of paperless transactions norms and regulations in the European Union
- Some of the major players in the point of sale (POS) receipt printer market are 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.
