Receipt Printers Market Growth Analysis | Trends, Drivers and Vendor Forecasts for 2020-2024
Technavio has been monitoring the receipt printers market and it is expected to grow by $ 275 mn, accelerating at a CAGR of almost 2% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Receipt Printers Market: Key Trends to impact market growth
The is one of the key receipt printers market market trends. This research report provides a detailed impact analysis of all the trends that are likely to influence the growth of the market in focus.
Receipt Printers Market: Top Drivers to Boost Demand
The Increasing focus on maximizing product value offerings is one of the primary factors driving the growth of the receipt printers market. The report provides a detailed study of all the factors that are likely to boost the market. This analysis will enable clients to leverage growth opportunities to their advantage and set their business
Vendor Analysis: BIXOLON Co. Ltd., Boca Systems Inc. and Citizen Systems Europe GmbH are key growth contributors
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with a pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BIXOLON Co. Ltd., Boca Systems Inc., Citizen Systems Europe GmbH, CognitiveTPG, Fujitsu Ltd., HP Inc., NCR Corp., Seiko Epson Corp., Star Micronics Co. Ltd., and Toshiba Corp. are some of the major market participants.
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Receipt Printers Market: Key Highlights of the Report for 2020-2024
Technavio has been monitoring the global receipt printers market and it is expected to grow by USD 275 million accelerating at a CAGR of over 2% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. Download latest version with COVID-19 analysis Free Sample Report
Receipt Printers Market: Segmentation by End-user
During 2019, the retail segment accounted for the major share of the Receipt Printers Market. The retail sector includes hypermarkets, supermarkets, drug stores, gas stations, specialty stores, and mass merchandise stores. The sector has undergone a significant transformation over the last 10 years because of factors such as continuous investments, rising competition, and the growth in global economies. This has resulted in the increased adoption of advanced technologies such as receipt printers. Customers are demanding faster and easier checkout systems, which is compelling vendors to adopt the latest receipt printers that allow them to print receipts seamlessly and conveniently. The growing number of retail outlets in developing nations worldwide is expected to drive market growth in the coming years. This report provides an accurate prediction of the contribution of all the segments to the growth of the receipt printers market size.
Receipt printers in the retail sectors are also being used as marketing tools to offer a more personal and interactive experience to customers. Businesses use these consumer receipts to create brand awareness and increase brand loyalty with the use of logo and website promotion.
The advent of waterproof and dustproof receipt printers is one of the latest market trends. To serve a wider range of end-users, several vendors in the market are investing in the manufacture of waterproof printers as certain businesses, including pharmacies, outdoor retail, healthcare, athletics, and professional landscaping cannot avoid encountering liquids. This will induce them to look for solutions to avoid a complete shutdown of the device in case of a liquid spill, boosting the demand for these printers.
Receipt Printers Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. BIXOLON Co. Ltd., Boca Systems Inc. and Citizen Systems Europe GmbH are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio offers custom research reports with detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report