Leading players in the retail printers and consumables market are opting for short term growth strategies such as enhancing product capabilities and introduction of innovative features including wireless connectivity to stay afloat amid cutthroat competition.
DUBAI, UAE / ACCESSWIRE / September 16, 2020 / The retail printers and consumables market is forecasted to progress at a healthy CAGR of 5.3% and 5.0%, respectively, in terms of value through the period of forecasting between 2017 and 2027. The growth of the market is primarily driven by the growing adoption of labelling in warehousing and online stores along with the implementation of labelling in business, which is in turn, creating demand for retail printers and consumables. On the other hand, the COVID-19 pandemic brought operations in several end-use industries - including departmental stores and warehouses - to a screeching halt, thus leading to a downfall in sales.
"Rising adoption of retail printers and consumables in supermarkets for various applications will remain a crucial growth attribute. Furthermore, retail printers are gaining remarkable traction in the retail industry, where they are used for labelling and storing information of a particular product," opines FMI analyst.
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Retail Printers And Consumables Market - Key Takeaways
- Based on the type of printer, mobile retail printers are projected to hold the lion's share in revenue, accounting for nearly 2/5th of global value.
- Based on printing technology, paper printers are expected to remain the most sought technology owing to their affordability and high operational efficiency.
- North America is forecasted to grow in value at 5.3% value CAGR and will surge past valuation of US$ 4.5 Bn by the end of 2027, owing to the presence of a flourishing retail sector which creates a high demand for printers in warehouses.
- Asia Pacific excluding Japan (APEJ) is exhibiting tremendous growth potential backed by increasing investments in the region's retail sector to capitalize on low operational costs, availability of labor, and an increasing number of supermarkets.
- APEJ is projected to expand at 5.1% CAGR and will represent a value of US$ 4.2 Bn by 2027.
Retail Printers and Consumables Market - Driving Factors
- Soaring adoption across various industrial verticals such as manufacturing, logistics, healthcare, etc. will continue to drive the market on a positive growth trajectory.
- The growing trend of labelling products to maintain proper data in the production line and eliminate chaos will continue to fuel the sales of retail printers.
Retail Printers and Consumables Market - Constraints
- The incapability of retail printers to store or process information necessitates separate computer systems for storing and processing the information, and this is expected to limit the growth to an extent.
- The emergence of advanced technologies such as Radio Frequency and Identification (RIFD) is posing a severe threat to the market as the technology allows retention of bulk data, unlike retail printers.
- Limited compatibility of retail printers with different operating systems leads to malfunctions, thus restraining the adoption in manufacturing facilities since there is zero tolerance to malfunctions in production lines.
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Anticipated Market Impact by Coronavirus Outbreak
Owing to the unforeseen outbreak of COVID-19, operations in warehouses, departmental stores, supermarkets, and other end-use sectors came to a curt halt. On this premise, the demand for retail printers and consumables has witnessed a steep decline in the first and second quarters of 2020. Although the downtrend is expected to prevail through the rest of 2020, operations are gradually restarting in the retail sector, which is likely to alleviate the long-term impact to an extent.
The key players operating in the retail printers and consumables market include, but not limited to, Zebra Technologies Corporation, Honeywell International, Inc., Toshiba TEC Corporation, SATO Holdings Corporation, Avery Dennison Corporation, Oki Electric Industry Co., Ltd., TSC Auto Id Technology Co., Ltd., Star Micronics Co., Ltd., Postek Electronics Co., Ltd., GoDEX International Co., Ltd., Citizen Watch Co., Ltd., Brother Industries, Ltd., Bixolon Co., Ltd. Market players are focusing on making their products compatible with a wide range of operating systems to enable wide-scale adoption and are investing in R&D to achieve the same.
More on the Report
The FMI's market research report provides in-depth insights into the Retail Printers and Consumables Market. The market is scrutinized on the basis of printer type (desktop printer, industrial printer, mobile printer, and others), printing technology (label printer, thermal transfer, direct thermal, inkjet, laser, paper printer, thermal transfer, direct thermal, impact), consumables type (label, ribbons, and paper), application (departmental stores, warehouse retailers, mom & pop stores, e-commerce, supermarkets, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excl. Japan (APEJ), Japan, Middle East & Africa (MEA)
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