According to a new market research report published by Credence Research, the market for retail printers is expected to grow over the forecast period with a CAGR of 6.2 percent, starting in 2018 at US$ 3.03 billion.
Browse the full report at “Retail Printer Market”
The global market for retail printers is driven by a rapidly growing market for the e-commerce sector worldwide. As internet service adoption is increasing across the globe along with smartphone users, shoppers are swiftly shifting to online retail channels to take advantage of the wide range of options and attractive discount offers. In addition, the growing need for warehouse and supermarket labeling and receipt printing is further aid in market growth. The organization uses retail printers to label the product at each stage of the supply chain to reduce complexity and improve operational efficiency. Furthermore, the increasing competition between market players changing market dynamics is also accelerating the adoption of retail printers worldwide.
Based on the technology market, the market for retail printers is divided into thermal transfer label printers, direct thermal label printers, laser label printers, thermal transfer paper printers, direct transfer paper printers, impact paper printers, and inkjet printers. Due to wide-scale adoption for billing applications across the retail sector, direct transfer paper printer technology accounts for more than 30 percent of revenue share. On the other hand, during the forecast period, laser label printer is estimated to grow significantly.
The market for retail printers in Asia Pacific is projected to grow substantially over the forecast period with a CAGR of about 8 percent. The market is driven by the region’s growing e-commerce market. The emergence of the region’s e-commerce giants like Alibaba has led to the development of numerous market growth applications. In addition, retail giants like Walmart, Amazon’s increasing investment in emerging economies like India and China also serves as a major driver of market growth.
Key players in the retail printer market are Avery Dennison Corporation, Brother Industries Ltd., Honeywell International Inc., Oki Electric Industry Co. Ltd., Postek Electronics Co. Ltd., SATO Holdings Corporation, Star Micronics Co. Ltd., Toshiba TEC Corporation, TSC Auto Id Technology Co. Ltd., and Zebra Technologies Corporation.
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