PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358108
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358108
Global Point of Sale (POS) Receipt Printer Market size was valued at US$ 4.91 Billion in 2022, exhibiting a Compound Annual Growth Rate (CAGR) of 9.3% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 5.31 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 9.30% | 2030 Value Projection: | US$ 9.9 Bn |
The global point of sale (POS) receipt printer market is a dynamic and rapidly evolving industry that revolves around the manufacturing, distribution, and sales of specialized printers that helps to generate receipts and transaction documents at the point of sale in various retail and hospitality establishments worldwide. As essential components of the POS system, these printers play a crucial role in facilitating efficient and seamless transaction processing for businesses of all sizes. The market offers a diverse range of POS receipt printers, including thermal printers, impact printers, and inkjet printers, each catering to specific business needs and preferences. With the advent of technology and changing consumer behaviors, the market has witnessed a transition towards cloud-based POS systems, mobile integration, contactless payment support, and the adoption of digital receipts. The market's growth is further fueled by the expansion of the retail and hospitality sectors, the rise of e-commerce, the increasing focus on sustainability and digital transformation. As businesses continue to prioritize efficiency, security, and customer engagement, these factors are expected to fuel the growth of the global point of sale (POS) receipt printer market during the forecast period.
The global point of sale (POS) receipt printer market is expected to be driven by the increasing demand for mobile type printers in the retail industry. Businesses are adopting mobile printers to improve the customer experiences and gain a competitive edge in the market. These printers also help billing personnel by reducing operation time during busy periods. In 2020, most POS printers were desktop type, which accounted for 54.5% of the market. However, mobile POS printers are expected to surpass desktop printers in the future due to their usability and portability. On the other hand, the market growth may be hindered by two factors - firstly, the rising adoption of cloud-based POS systems might reduce the demand for traditional receipt printers, and secondly, concerns about health risks related to the use of Bisphenol A (BPA) paper in thermal POS printers could also impact the market negatively.