New FMI Report Explores Impact of COVID 19 Outbreak on Retail Printers and Consu
Posted by aliena on December 9th, 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
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.
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Joined: August 4th, 2020
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