The global ticket printer market was valued at USD 327 million in 2016 and is predicted to outdo that value by reaching USD 442 million by 2022
Pune, India -- (SBWIRE) -- 09/13/2018 -- The ticket printer market is expected to grow at approximately USD 3.45 Billion by 2022, at 7.3%. of CAGR between 2018 and 2022. Ticket Printer Market has been Rapid urbanization, especially in rising economies, is the key factor driving this market. Convenient and fast delivery has led to the adoption of printers in multiple end-use industries.
The report mentions the key players in the global ticket printers market which include Stimare, Custom and Able-systems, Boca Systems, Epson, Star, Fujitsu, Stimare, Zebra, Datamax – o – Neil, Ler Blue Solutions, Practical Automation and others.
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The global ticket printer market was valued at USD 327 million in 2016 and is predicted to outdo that value by reaching USD 442 million by 2022, reports Market Research Future (MRFR). The market is set to expand at a CAGR of 5.1% during the forecast period (2016-2022). Ticket printers are easy to operate, maintain, and are more effective than other types of printers. Thus, on account of these features, ticket printers are ideal for applications in movie theatres, railway, museums or any sporting event. Moreover, rapid urbanization in developing economies as well as other nations has led to the market growth globally. In addition, higher portability and low operating cost of the printer has led to tremendous upward traction for the market.
On the other hand, growing usage of cloud-based systems is estimated to curb the market growth in the coming years. However, if the demand for the ticket printers in many applications is to go by, the market seems to grow steadily and will continue to expand during the forecast period. Moreover, keeping in mind this demand, the market players strive to get ahead of their competition by indulging in a barrage of strategic activities such as mergers and acquisitions as well as partnerships. For instance, in 2014, Zebra Technologies Corporation acquired Motorola Solutions' Enterprise business for USD 3.45 billion.
The global ticket printers market is segmented on the basis of technology, application, and type.
The technology is sub-segmented into direct thermal, thermal ribbon transfer, and inkjet. The market was dominated by direct thermal in 2012 with 3501 units. It grew further and reached 4783 units in 2017 and is projected to reach 6653 units by 2022. Direct thermal printing technology offers a wide range of advantages, such as environmentally friendly, reduced carbon footprint, saves time and are very compact compared to its counterparts. Based on these advantages, direct thermal printers are in high demand across various industries and avenues.
Applications are sub-segmented into movie theatre, Zoo Park, railway, invoice, boarding pass, museum, trade show entrance, and sporting events. The market was dominated by the invoice segment with 2742 units in 2012 and had reached 3579 units in 2016. The market is anticipated to reach 5462 units by 2022 with a market share of 50.7% growing at CAGR of 7.3%.
The types of ticket printers are kiosk, portable, and bench-top. The market was dominated by the bench-top segment with 2508 units in 2012. The market then reached 3056 units in 2016 and is presumed to reach 4208 units with a market share of 39.1% and a CAGR of 5.4% during the forecast period. A bench-top printer is easy to use and prints rich color graphics directly onto a wide array of personalized consumer products. It is highly efficient to use and can be wall mounted as well.
The global ticket printers market is geographically segmented on the basis of North America, Europe, Asia Pacific and the Rest of the World. Globally, the North America ticket printer market valued close to USD 60 million in 2016. The region is estimated to hold the largest market share due to the early adoption of point of sale (POS) systems to deliver quality customer services. The region also observes rapid technological developments and increasing investments by market players which leads to immense market growth.
On the other hand, the Europe ticket printer market size was close to USD 100 million in 2016 and is growing phenomenally due to the presence of formidable firms and companies that intensify the market competition, further leading to market expansion in the region. Moreover, strong economy and a plethora of industries making use of ticket printers fuel the market growth.
The Asia Pacific market is thriving as well owing to the presence of countries that contribute massively to the market growth. For instance, the Japan ticket printer market size was valued at USD 28 million in 2016. On the other hand, the China ticket printer market size was close to USD 80 million in 2016. The rate of market growth in the region is quite high due to strong establishment of industries such as arts & entertainment, sporting events, and recreation & gaming, which leads to massive demand for ticket printers in the region.
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Epson's OmniLink TM-T88VI-i and TM-T20II-i intelligent POS printers belonging to Epson America Inc. have been selected by Millennium S.I. to cater to the needs of their clients for more options and flexible checkout solutions. These printers have been selected as they are an embedded operating system and posses Ethernet and WiFi connectivity, and also has the ability to connect to other peripherals such as customer displays. On account of the sophisticated technology offered by Epson, many salons and spas will be able to manage tasks along with orders directly from customers' smart phones and tablets.
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