Technavio's latest global POS printer market 2016-2020 report highlights the top four emerging trends that are expected to impact the market through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
Technavio's market research analyst Chandrashekhar says, "According to our research, the total unit shipment in the global PoS printer market is expected to reach over 4 million by 2020, growing at a CAGR of over 7% until 2020. The average sales price of PoS printers is expected to grow steadily at an annual rate of 4-6% during this period owing to increasing integration of advanced features such as Wi-Fi, NFC, and Bluetooth connectivity."
"Untapped emerging regions such as APAC presents a significant market opportunity for manufacturers of POS printers. It will enable the vendors to generate steady profit margins during the forecast period 2016-2020," says Chandrashekhar.
Technavio's market research study identifies the following top three emerging trends for the global digital health market 2015-2019:
- Growing demand for advanced PoS printers
- Emergence of erasable printing technology
- Increased demand for color prints
Growing demand for advanced PoS printers
The growing use of cards such as retail cards for swiping at PoS (point of sale) terminals and kiosks increases the need for generating printed receipts for customers. Retailers are thus aggressively investing in developing their brand of shopping cards that can be used to swipe and provide printed receipts, along with discounted coupons.
In addition, increased connectivity of printers and additional features, such as wireless connectivity, NFC, and RFID further drive the demand for POS printers. The leading POS printer manufacturers are expected to increase investments in R&D to enhance the functionality and operations of these printers.
Emergence of erasable printing technology
Paper wastage is a key concern that is driving many companies to invest in technologies that reduce such wastage and to reduce their carbon footprint. The market will see an advent of new functionalities in POS printers to help manage over-writing and excessive printing. Erasable technology will emerge as a primary tool in this regard to manage inappropriate content or ink on a page.
This technology removes excess ink using heat through the heat-plate placed inside printers. Its improved functionality is expected to add to the POS printer's popularity in the forecast period. As per this research report, POS printers are predicted to emerge as the key tool for managing paper imports and lowering stocking costs in the future.
Increased demand for color prints
This market is expected to witness a shift from black and white print impressions to color impressions, resulting in an increased demand for high-speed continuous-feed thermal POS printers. It is expected to boost the growth of the overall printer market until 2020.
In addition, the average-cost per color impression of printers that are equipped with advanced printing technology, such as ultra-high volume impact printers, will witness a decline during this period. This trend is thus predicted to surge the demand for color prints in the market. Although PoS printers are being developed with black and white impressions, the market will soon witness the introduction of color prints.
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