Global Retail Printers And Consumables Market Is Projected To Reach A Valuation Of US$ 24,293.9 Mn In 2032
The global retail printers and consumables market is expected to propel at a stable growth with a CAGR of 5.4% between 2022 and 2032. The market size reached US$ 12444.5 Mn in 2021 and is projected to touch a valuation of US$ 15,643.5 Mn in 2022.
In addition to that, with its widespread usage in departmental stores, warehouse retailers, e-commerce, and supermarkets, the overall demand for retail printers grew and is expected to reach a valuation of US$ 24293.9 Mn by 2032.
According to the historic estimations conducted by FMI, the global retail printers and consumables market increased at 4.5% CAGR during the historic period between 2012 and 2021. With rising applications of retail printers and consumers across numerous end-use industries, the overall market is predicted to propel by exhibiting a growth rate of 5.4% between 2022 to 2032.
At present, the retail printers and consumables market consist of about 40% to 45% of its parent market which is the global printers’ market, and this number is expected to increase in the future across the assessment period. The retail printers and consumables market is projected to grow by 1.5X by 2032 when compared to 2022.
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- The rising printing usage in retail sectors such as supermarkets and departmental stores are expected to drive growth in the market. Company deployment of retail printers and consumables to maintain assets is yet another reason which is expected to fuel growth in the market.
- Retail printers are rapidly being used in the manufacturing and retail sectors since they are well-established as the premium industry standard for storing product information. A separate computer is required since these printers cannot store or process information. This is resulting in the growth of the IT industry as well.
- The Original equipment manufacturers (OEMs) are focusing on developing and marketing retail printers that are capable of serving as both a printer as well as a computer, eliminating the need for a separate system. This will bode well for the global retail and consumables market during the forecast period.
- The world is changing rapidly, due to which the demand for advanced technologies such as 3D printers, industrial barcode scanners and readers has been on the rise during the last few years. Such advanced technology has been actively utilized by various industries in order to ramp up their operations, reduce errors, and increase overall productivity.
- Retail printers are electronic equipment that is highly used in the retail industry for the printing of receipts and labels highly used in the retail space. Ribbons and labels operate together in retail printers to produce an image. Labels, ribbons, and paper are the consumables that are utilized with retail printers.
- Widespread adoption of labeling in the retail sector, warehousing, and online stores is taking place in order to maintain assets, reduce chaos, and improve productivity is expected to boost the growth of the global retail printers and consumables market during the forecast period.
- Accelerated penetration of digitalization across several industries along with innovations in printing technology is anticipated to further bolster sales of retail printers and consumables across the next ten years.
Dominant manufacturers of retail printers and consumables are focusing on upgrading their product portfolios by launching new and advanced solutions along with upgrading their present product lineup as well as providing cutting-edge features and wireless connections.
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Key Segments Covered in Retail Printers and Consumables Market Analysis
- Desktop Printers
- Industrial Printers
- Mobile Printers
- Label Printer
- Thermal Transfer
- Direct Thermal
- Paper Printer
- Thermal Transfer
- Direct Transfer
- Departmental Stores
- Warehouse Retailers
- Mom & Pop Stores
More Insights into the Retail Printers and Consumables Market
According to FMI analysis, the U.S. is expected to hold a dominant position in the market by consuming around 22.8% market share of the global retail printers and consumables market in 2022.
The growth is attributed to the booming e-commerce sectors, increasing consumer spending, availability of advanced printing technologies and consumables, and the strong presence of leading manufacturers are some of the key factors driving growth in the U.S. retail printers and consumables market.
China is predicted to be the second largest market registering a CAGR of 5.9% between 2022 and 2032. The growth of the market is expected to spur amid the rapid growth of end-use verticals and a growing focus on increasing productivity.
Germany is predicted to showcase a lucrative pocket within the forecast period from 2022 to 2032 by expanding at a CAGR of 7.6%. This can be attributed to the rapid growth of retail industry sectors such as supermarkets, departmental stores, and convenience stores.