Increasing Competition among the Retailers Is Driving the Retail Printer Market

Globally, the retail printer market is expected to grow with a CAGR of 6.2% during the forecast period from 2023 to 2030, starting from US$ 3.21 Bn in 2021. The market growth is driven by the increasing competition among retailers. As the competition among the market players is fueling and the customers are becoming more empowered, the retailers are focusing more on providing better shopping experience to the customers. The use of printers in retail store can streamline billing operation and enable companies to engage customer via several loyalty programs.

The companies are using printers to drive customer centric campaign by offering discount coupons along with membership cards to gain customer loyalty and reduce the churn rate. Moreover, rapid surge in the online sales is also serving as a major driver for the growth of the market. However, the increasing trend of digital payments along with the rising environmental concern among consumer to save papers and reduce wastage is acting as a major inhibitor in the growth of the retail printer market.

"Mobile Printer Is Estimated To Grow Significantly During The Forecast Period" 

The retail printer market is bifurcated based on the product type into industrial printer, desktop printer, mobile printer and other printers. Mobile printers are accounted for 38% share in the revenue, and projected to maintain the dominating positions during the forecast period. The growth of the market is driven by the increasing adoption of the smartphones and tablets across the globe. The mobile printers can be synced with a smartphone and tablet and can accept command from the phones. This printer generally comes with a wireless technology interface and in-built card reader, which makes it an ideal option for the retail store. This is driving the demand for the mobile printers across the retailers.

"North America Is Leading the Retail Printer Market"

North America led the retail printer market with more than 33% share in the revenue in 2020. The growth of the market is attributed to the growing e-commerce industry in the region. The e-commerce industry in the region has grown significantly over the past five years. It is estimated that online sales in the region accounts for more than 14% of the overall retail sales in the region, and the number is further estimated to grow in future. This is presenting huge opportunities for the growth of the market in region. Moreover, the increasing internet penetration along with the widespread adoption of the smartphones in the region is also driving the market growth. 

The major vendors 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.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Retail Printer market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Retail Printer market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Retail Printer market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Retail Printer market?
• Which is the largest regional market for Retail Printer market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Retail Printer market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Retail Printer market worldwide?