Thermal Receipt Printer Market Market Size

Thermal Receipt Printer Market size is estimated to surpass USD 29 Billion by the end of 2036, witnessing around 8% CAGR during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of thermal receipt printer was over USD 13 Billion. The growth of the market can be attributed to the growing e-commerce sector. In 2021, retail e-commerce sales total around USD 5 trillion globally. This value is expected to rise by 56% over the following few years, hitting around USD 8 trillion by 2026. Nowadays, many e-commerce platforms have the option for customer to pick their package in-store. Thermal receipt printers are used at these pickup points to print instant receipts to the customer and their proof of payment and order. Moreover, the receipts are also required to generate return or refund receipts for the customers.

In addition to these, factors that are believed to fuel the market growth of thermal receipt printer include the development of the smart parking system. The growing integration of a smart parking system has made the use of receipts even more important. Smart parking systems generate receipts for maintaining a record of parking transactions. This record is useful for both the users and the parking management to retrieve the parking history. Moreover, in corporations, parking receipts can be used as expense reimbursement for the people who daily use the parking systems. Furthermore, printer receipts are issued to users after making the payment for the parking, thus ensuring the legal spot of an individual and payment confirmation for the parking slot.