ACCESS Newswire
16 Sep 2020, 19:13 GMT+10
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
Retail Printers and Consumables Market - Driving Factors
Retail Printers and Consumables Market - Constraints
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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.
Competition Landscape
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.
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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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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact
Mr. Abhishek Budholiya
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
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SOURCE: Future Market Insights
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