According to the latest report published by Future Market Insights, demand for NCR Printing Machines is anticipated to grow at 7%-7.7% CAGR between 2021 and 2031, high demand for high-speed printing devices and solutions among major end-users is expected to fuel the demand for NCR printers. Sales of NCR printers is expected to reach millions of units over the forecasted decade.
NCR Printers Market: Market Overview
The innovation-driven end-user industries such as food & beverages, retail and other industries are focusing on cost-saving practices to increase their profitability, along with usage of time-saving products & solutions.
As a result of continuous research & development, the manufacturers have developed NCR Printers (No Carbon Required), which offers easy printability on NCR papers to the end-users as and when required by them.
The printers offering printing on NCR papers are gaining worldwide popularity, due to high demand among the various retail and industrial facilities across the regions. Increased acceptance among modern-day retail facilities, these NCR printers offer a time-saving solution for sellers and service providers to maintain their stores at their convenience.
Moreover, the global NCR printers market is expected to expand at a positive rate over the next decade.
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Which Drivers Are Fuelling Demand For NCR Printers Across The Globe?
The NCR printers offer thermal printing solutions at a fast pace as compared to other traditional printers, which saves the time of the consumer as well as shopkeeper during the time of checkout, which results in customer satisfaction.
Thus, the time-saving benefit offered by these printers increases the efficiency during rush hours and contributes to the increased demand for NCR printers across the globe.
In comparison with other printers these NCR printers use 45% less paper, moreover the operators of retail facilities, food joints need not change the paper rolls during business hours, providing huge cost benefits on the paper roll costs incurred by end-users.
Thus, the above-mentioned cost-saving benefits make NCR printers an affordable printing solution for small & medium-sized businesses as well.
Additional features such as low initial cost, portability and USB connectivity are the most important USP’s of the NCR printers, in addition to that the NCR POS (point of sales) printers are space-saving solutions for stores or facilities not having enough space for large-sized printers. All these above-mentioned drivers indicate the exponential growth of the global NCR printers market between 2021 and 2031.
The NCR printers offer thermal printing solutions at a fast pace as compared to other traditional printers, which saves the time of the consumer as well as shopkeeper during the time of checkout, which results in customer satisfaction.
Thus, the time-saving benefit offered by these printers increases the efficiency during rush hours and contributes to the increased demand for NCR printers across the globe.
In comparison with other printers these NCR printers use 45% less paper, moreover the operators of retail facilities, food joints need not change the paper rolls during business hours, providing huge cost benefits on the paper roll costs incurred by end-users.
Thus, the above-mentioned cost-saving benefits make NCR printers an affordable printing solution for small & medium-sized businesses as well.
Additional features such as low initial cost, portability and USB connectivity are the most important USP’s of the NCR printers, in addition to that the NCR POS (point of sales) printers are space-saving solutions for stores or facilities not having enough space for large-sized printers. All these above-mentioned drivers indicate the exponential growth of the global NCR printers market between 2021 and 2031.
Which Limitations Will Hamper Growth of Global NCR Printers MarketWhich Limitations Will Hamper Growth of Global NCR Printers Market
During the usage of NCR printers, the fast speed printing deteriorates the quality of print and results in low-quality print on the NCR paper, moreover, these printers cannot print graphics or other characters which makes them non-usable for retailers willing to print graphics or designs.
Furthermore, it has a negative impact on global sales of NCR printers and hampers long term growth.
Increased usage of traditional large-sized printers indirectly affects the sale of NCR printers, as these solutions are not popular in the developing as well as underdeveloped markets on the globe, which in turn affects the global reach of NCR printers.
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What Profitable Growth Opportunities are offered by Global NCR Printers Market?
Key manufacturers of NCR printers have launched printers offering printability on both sides of the receipt, which can be used as a profitable growth opportunity by key players and marketers, they can market their product by highlighting the benefits of dual side printing. As a retailer one can print the receipt on one side and can advertise or market its brand name on the other side.
NCR printers use NCR papers for printing which are an environmentally friendly substitute to carbon paper, which are having huge demand among the environmentally concerned consumer bases.
Thus, sustainability and environmental friendliness can help key players to position themselves as sustainable practitioners in the developing as well as developed markets and contributes to the overall future growth of the global NCR printers market.
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Key Market Players in Asia-Pacific Region of NCR Printers Market
Guangzhou Winprt Technology Co., Ltd.
Ciontek Technology Corp.
BIXOLON CO., LTD.
Taishan Wenshin Electronic Co., Ltd.
NGX Technologies
Mswipe Technologies Pvt Ltd.
What Makes US The Largest Market for NCR Printers Market?
The intrinsic growth witnessed by the foodservice industry in the country along with small and medium-sized retailers also opting for organized printing and record-keeping solutions for their outlets makes the US the largest market for the NCR printers market.
Moreover, the growing demand for portable printing solutions offering a convenient and hassle-free checkout experience to the final customers are also gaining traction in the country, all these above-mentioned trends are anticipated to fuel the demand for NCR printers over the forecasted decade.
Which Are Fastest-Growing Markets For NCR Printers Market?
The recent boom witnessed by the organized retail industry in the country, along with the largest unorganized retail market in the world offers immense growth opportunities to the manufacturers of NCR printers to penetrate as well as a benefit on profitable growth opportunities offered by India over the next decade.
Easy availability of raw materials used in the production of NCR printers and supportive government policies encouraging exports of all types of electronic hardware solutions makes China the fastest growing offering market for NCR printers.
In addition to that key global players shifting their manufacturing facilities to the country for achieving economies of scale is anticipated to provide a much-needed boost for the development of the NCR printers market in the country.
What Was The Impact of Covid-19 on NCR Printers Market?
Due to the outbreak of the deadly covid-19 virus, production and distribution of all types of goods were disrupted due to the enforcement of lockdown by provincial governments, to curb the further spread of the virus among humans. Only production and supply of food & beverages and medicinal supplies were allowed under strict guidelines.
Though the demand for NCR printers witnessed a negative impact during the spread of the pandemic, after the re-opening of retail and foodservice facilities the demand for NCR printers is expected to register positive growth over the forecasted period.
