About this market
The growth of the global POS printer market is driven by the increased adoption of mPOS printers. These printers offer the advantage of portability along with a compact design and low cost. The market is witnessing significant growth owing to the availability of cloud-based and wireless mPOS printers. mPOS printers are increasingly being deployed in restaurants, food trucks, and pop-up stores. The availability of a wide range of portable mPOS printers has given rise to growth opportunities in terms of new applications such as in the travel industry and food ordering services in stadiums. mPOS printers can connect via Bluetooth and the cloud. This has made it easy for users to operate these devices through mobile computing devices such as tablets and smartphones. The ease of connecting with any device or platform has driven users to adopt mPOS printers. These developments have led to the growing adoption of mPOS printers by small retail stores that do not want to invest in a complete POS terminal setup. analysts have predicted that the POS printer market will register a CAGR of close to 7% by 2023.
Market Overview
Increasing focus on maximizing product value offerings
The products offered in the global POS printer market are undifferentiated. Thus, market vendors have increased their focus on maximizing product value offerings to expand their customer base and remain competitive in the market. Vendors are also frequently upgrading their product offerings to stay ahead of their competitors. Adding value to products and frequently upgrading products helps vendors acquire new buyers and encourage old buyers to upgrade their existing products.
Increasing adoption of self-service kiosks
Self-service kiosks are automated, custom-configured computer systems through which customers can create invoices and execute monetary transactions without the need for human interaction or a POS terminal. These kiosks have integrated printing systems. Thus, the growing adoption of these systems will adversely affect the demand for POS printers.
For the detailed list of factors that will drive and challenge the growth of the POS printer market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.