Global ticket printers market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 5.2% during the forecast period.
Global Ticket Printers Market
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Ticket printers are printing devices that are used to print the information about any ticket on a paper. These printers are designed to meet the requirements of various businesses that focus on creating high-quality tickets.
The growing demand for ticket printers for commercial applications such as in shopping malls, cinema halls, retail shops, and sports and gaming events is a major driving factor behind the growth of the market. Increasing disposable income, an increasing number of functions, events and concerts, increasing demand of ticket printers for invoice application in grocery shops, growing technological advancements in printing technology, and massive availability of ticket printers in any size and shapes are expected to improve the growth of the market during the forecast period. Ticket printers provide some benefits such as ease of use, low cost, high output, fast printing, and high portability, which are ultimately propelling the growth of the market.
However, the increasing popularity of booking tickets online is a major restraining factor that could hamper the growth of the market.
Global Ticket Printers Market: Segmentation Analysis
By technology, the direct thermal technology segment dominated the market in 2019 and is projected to witness fast growth at a CAGR of XX% during the forecast period. Direct thermal printing technology is most widely used in ticket or receipt printers. Direct thermal printers do not need ink, toner and ribbon, thus these are less expensive ticket printers in the market. Direct thermal printers are more sensitive to heat, light, and abrasion; therefore, they are not used for lifetime identification applications and only used for short term applications such as for movie tickets applications. Direct thermal printing technology provides some benefits such as good scan ability, sharp print quality, low maintenance cost, and more durability, which are ultimately propelling the growth of the market.
By application, the invoice segment dominated the market in 2019 and is expected to maintain its dominance at a CAGR of XX% during the forecast period. An invoice is a document that provides details of the bill issued by a seller to a buyer. An increasing number of shopping malls, retail shops, and grocery shops along with the wide-scale adoption of ticket printers for billing applications is attributed to the growth of the market. An increasing transition towards digital invoice methods over traditional billing methods is further propelling the growth of the market.
Global Ticket Printers