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The Global Retail Printers and consumables market is projected to grow at a healthy CAGR of 5.3% and 5.0%, respectively, in terms of value over the forecast period of 2017 to 2027 primarily driven owing to increasing application in end-use industry. Retail printers are electronic devices typically designed for printing of labels and receipts that are used within the retail space. Retail printers usually do not have programmable logic controllers of its own, but relies on an external system. Label and receipt printers are adopted for speedy and efficient printing of labels and receipts.

These devices find applications in various industrial verticals like manufacturing, logistics, healthcare etc. However, its utilization in the retail industry overshadows all other verticals prompting the manufacturers to register long term tie ups with various small scale and large scale retailers. The consumables used within these printers are labels, ribbons and paper. Ribbons and labels are used in conjunction with label printers utilized exclusively to generate labels while paper is typically used to generate receipts at POS stations.

Global Retail Printers and Consumables Market: Future Outlook

The Global Retail Printers market is projected to grow at a 4.8% CAGR during 2016-2017. The global market for retail printers is poised to register a steady CAGR of 5.3% over the ten year forecast period to reach a market valuation of US$ 4689.4 Mn by end of 2027 while the global consumables market is expected to be valued at US$ 8,503.4 Mn in 2017 and is estimated to grow with a CAGR of 5.0% in terms of value. Product upgrades and aggressive marketing is the key strategy executed to preserve the growth of the market on a long-term basis.

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Global Retail Printers Market: Segmental Analysis

• The global retail printers market is segmented based on its usage in different areas of application. By type, it is segmented into desktop retail printers, industrial retail printers, mobile retail printer and others. The relatively small others segment comprises of special application retail printers such as ticket printers and wristband label printers
• Mobile retail printer segment is estimated to a value of US$ 1898.3 Mn by 2027 end. In terms of volume, Mobile retail printer and desktop retail printer segments are anticipated to produce 2,257 thousand units and 1,871 thousand units respectively by the end of 2027
• By technology it is segmented by label printers and paper printers. On the basis of printing technology the most dominant is the thermal transfer sub segment while direct thermal sub segment dominates in the paper printer segment. The inkjet, impact and laser printing technologies are expected to be the least attractive of all the segments owing to high cost, slow operation and impracticality than the thermal segment

Global Retail Consumables Market: Segmental Analysis

The global consumables market is segmented by type, application and region. By type, the paper segment is expected to dominate the market throughout the forecast period with 41.0% share by the end of 2027. The Label type segment is anticipated to witness robust growth in terms of value and volume over the forecast period owing to increasing adoption of labelling in warehousing sector as well as online retailing and also implementation of labeling in businesses to maintain assets.

Global Retail Printers and Consumables Market: Regional Outlook

Asia Pacific and North America hold the highest market potential in the global retail printers market. The market is primarily driven owing to healthy growth from the perspective of disposable income & purchasing power and increasing retailing activity around the globe. However, limited compatibility with different operating systems is expected to be a restraining factor for the growth of market in these regions. Eastern Europe and Latin America are struggling with sluggish growth in the market owing to fragmented supply chain, hence growth prospects for the market for retail printers in these regions is limited.

Global Retail Printers and Consumables Market: Competitive Landscape

The report highlights some of the top companies operating in the global retail printers and consumables market such as 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., Pos-X LLC, Primera Technology Inc., CognitiveTPG, LLC, Seiko Holdings Corporation, Wasp Barcode Technologies, Cab Produkttechnik GmbH & Co KG, and  BlueBird, Inc.

These players are aware of the emerging technology called RFID (Radio Frequency and Identification) that could pose as a serious threat of replacing barcoding technology due to advantage of bulk data retention as opposed to single data retention of barcodes leading to faster scanning and data maintenance as well as elimination of line of sight scanning in RFID technology. Hence, prominent players are focused on implementing short term strategies by improving its existing product line up and introducing innovative features and wireless connectivity to sustain the growth of the global market.

Key Segments Covered

The retail printers market is segmented as given below:

By Printer Type

• Desktop Printer
• Industrial Printer
• Mobile Printer
• Others

By Printing Technology

• Label Printer
  • Thermal Transfer
  • Direct Thermal
  • Inkjet
  • Laser
• Paper Printer
  • Thermal Transfer
  • Direct Thermal
  • Impact
  • Inkjet

By Application

• Departmental Stores
• Warehouse Retailers
• Mom & Pop Stores
• E-Commerce
• Supermarkets
• Others

By Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excl. Japan (APEJ)
• Japan
• Middle East & Africa (MEA)

The retail consumables market is segmented as given below:

By Type

• Labels
• Ribbons
• Paper

By Application

• Departmental Stores
• Warehouse Retailers
• Mom & Pop Stores
• E-Commerce
• Supermarkets
• Others

By region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific Excl. Japan (APEJ)
• Japan
• Middle East & Africa (MEA)

About Industrial Automation Division at Future Market Insights

The Industrial Automation & Equipment division at FMI adopts a novel approach and innovative perspective in analyzing the global machinery and industrial automation market. A range of FMI’s market research reports offer comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery used across manufacturing sector. The team also conducts distinctive analysis about installed base, consumables, replacement, and USP-feature application matrix, making us a prominent voice of authority in the industry. We are associates of choice for established as well as budding industry

For more information on the global retail printers and consumables market, write in to Future Market Insights analysts at press@futuremarketinsights.com

Global sales of substation automation are expected to increase at 6% CAGR between 2021 and 2031, estimates Future Market Insights (FMI). With a favorable demand outlook, the substation automation market size is projected to top US$ 37.8 Bn in 2021 and is expected to reach US$ 67.29 Bn by 2031.

After countering the initial slowdown caused by the COVID-19 outbreak, recovery of the substation automation market is anticipated. As per the report, sales of substation automation are expected to grow at a robust 8.20% CAGR in terms of value between 2021 and 2031.

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Growing demand for retrofit substation automation across various end-use sectors is expected to augment growth of the market. In addition to this, surging applications of digital systems across manufacturing units, civic and power utilities, and the oil & gas sector will continue propelling sales of substation automation in the forthcoming years.

Substation automation systems streamline asset management and enhance operational and maintenance capabilities with minimal human intervention. The installation of these systems also reduces repair costs and prevents forced outages.

Disturbance analysis is another benefit offered by substation automation. The implementation of these systems records fault waveform and time stamp the measured operational data. Owing to these factors, applications of substation automation are expected to rise in manufacturing facilities across various industries.

Further, sales of substation automation are expected to gain momentum in commercial and civic power utilities. As per the U.S. Energy Information Administration (EIA), approximately 20% of the electricity generated in the country was from renewable energy sources.

Growing demand for effective power supply across commercial and residential sectors is expected to propel the adoption of substation automation in the forthcoming years.

“Growing adoption of substation automation in smart grids to enable remote monitoring and to avoid grid failures is expected to improve sales. In addition to this, increasing applications of substation automation software to improve financial performance, customer services, and organizational effectiveness will continue augmenting the growth of the market through 2031,” says an FMI analyst.

Key Takeaways:

In terms of component, sales of substation automation software are projected to rise at a remarkable pace over the assessment period. Based on control system type, total sales of SCADA-based substation automation are expected to top US$ 34 Bn by 2031. Demand for substation automation in manufacturing units is anticipated to account for 20% of the total sales in 2021. Sales of substation automation in the U.S. are anticipated to reach a valuation of US$ 6.8 Bn by 2031. China is expected to dominate the East Asia substation automation market, with sales growing at 6.8% CAGR over the assessment period. By 2031, India is expected to command 40% of the total substation automation sales in the South Asia market. Demand for substation automation in Japan and South Korea is projected to increase at 5.9% and 6.2% CAGR, respectively.

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Prominent Drivers:

Growing government-backed investments in smart cities across counties such as India, China, and Brazil are expected to give tailwinds to substation automation sales. Surging establishment of data centers to support digital activities across various end-use sectors is expected to boost demand for substation automation systems.

Competitive Landscape

Leading players operating in the global substation automation market are aiming at production facility expansions through mergers, acquisitions, and collaborations. Players are also entering into partnerships to expand their product portfolios to cater to a growing consumer pool. For instance:

In November 2020, Kuwait’s Ministry of Electricity and Water (MEW) contracted Siemens Energy to provide 116 high-voltage substations. The advanced maintenance services offered by these substations will improve performance, reduce operating costs, and deliver more reliable network operations for the Ministry of Electricity in Kuwait. In November 2020, Schneider Electric acquired a controlling stake in ETAP Automation Inc. (Dubai), to improve the integration of renewables, fuel cells, microgrids, and battery storage technologies to the power grid.

Leading players operating in substation automation market profiled by FMI include:

General Electric SIEMENS AG Eaton Mitsubishi Electric Automation CISCO Emerson Electric Co. ABB Schneider Electric Rockwell Automation Fuji Electric Co., Ltd. Nari Group

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More Insights on FMI’s substation automation Market

The latest market study on the substation automation market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global substation automation market potential, its growth, trends, and opportunities, the market is segmented on the basis of:

Component:

Hardware IEDs Bay Controller Feeder and Motor Protection Relay Tele controller / IECs Circuit Breaker Control & Management Line Differential Others Software Data Visualization and Monitoring Data Analysis

Site:

Process Level/ Electric Control unit Bay Leve Substation Level

Rated Voltage:

Low Voltage Medium Voltage High Voltage

Control System:

SCADA based HMI based RI/O (Remote Input-Output) based

Application:

Transmission Substation Distribution Substation

End-Use:

Commercial and Civic Power Utilities Oil & Gas terminals Mining & Metallurgy Manufacturing Unit Railways

Region:

North America Latin America Europe East Asia South Asia Oceania Middle East and Africa (MEA)

Key Questions Covered in Substation Automation Market Report 

The report offers detailed insights into substation automation market demand outlook for 2021-2031. The market study also highlights projected sales growth for substation automation market between 2021 and 2031. Substation automation market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry. Substation automation market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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Fiber laser Market: Fiber Laser Market to Grow At 11.1% CAGR; Increasing Demand for Fiber Laser Welding Equipment from Automotive Industry will Drive Growth

Aircraft Ground Support Equipment Market: Sales of Aircraft Ground Support Equipment to Increase by 6.5% CAGR, Demand for Electric and Hybrid Equipment will be Exceptionally High

As per the revised report by Future Market Insights (FMI), the global fleet management market is expected to expand at a CAGR of 10.4% over the forecast period (2021-2031). The growth can be attributed to growing adoption of cloud computing and big data analytics solutions for streamlining fleet management operations.

Future Market Insights in its recently published report projects that the global StaaS market will grow at an impressive CAGR of 17% between the forecast years of 2020 and 2030 as syncing, sharing, collaboration, and accessibility to data over smartphones and other devices gets simplified.

Storage as a service (STaaS) has been one of the fast-growing cloud application in recent years as businesses are exploring its potential to make operations flexible at reduced operating costs. The disruption created by cloud services across industry verticals has doubled productivity through automation, bringing down costs and improving services. This particular attribute surfaced as an axis for growing adoption of SaaS across verticals.

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STaaS primarily helps to store copious amounts of data on cloud instead of on-premise, giving the organizations free space and less hassle of backing it up and investing in disaster management contingent plans.

As international business expands at a breakneck speed, companies are expected to invest in STaaS to ensure transactions are not bound to geographical locations. Furthermore, advantage of automated software backup to ensure data remains safe at all times is likely to assure the vendors in this market a guaranteed client base throughout the forecast years. Seamless business productivity and smooth transition of remote working capabilities as the world decides a new normal will push this market to leap ahead, predict analysts at FMI.

Key Takeaways of Storage as a Service Market Study

• SMEs to hold 74% of market share in 2020 as the adoption of STaaS becomes essential to cutting back on infrastructural cost and focus on business continuity
• BFSI segment held a market share of 22% in 2019 and is expected to continue on a similar trend as banking gets digitized even in rural clusters
• South Asia & Pacific to register a CAGR of 23% 2020-2030 in the global STaaS market as countries undergo rapid digitalizing across sectors
• Cloud computing and remote work ethic to remain strong undercurrents of booming STaaS market

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“In this ever-changing technology landscape, businesses are continuously looking for cost effective and efficient solutions which can reduce the burden of legacy systems. With the outbreak of COVID-19, the need to reduce CapEx and OpEx and make a smooth transition to remote work culture is expected to create potential opportunities for the storage as a service market,” says the FMI Analyst

COVID-19 Impact Analysis on Storage as a Service Market

The outbreak of COVID-19 highlighted the need for businesses to adapt quickly to remote working options, pushing them to change their technological landscape to ensure business continuity during the pandemic. As the trend continues to rise, companies are expected to invest in technology-based infrastructure in the coming years. Also, the sudden spotlight on reduction in operation costs such as electricity and rents has made business realise the true contribution of SaaS in improving profit margins.

According to International Labour Organization (ILO), prior to COVID-19 outbreak only 2.9% of global workforce worked from home. However, in a post pandemic world, managers are reassessing their operating methods, leading to an explosion in the percentage of those working from home.

In light of this trend, post COVID-19, the demand for cloud-based solutions and applications is expected to surge as businesses around the globe will look for cost-effective, efficient, and resilient solutions for their business continuity. Furthermore, strengthening sentiment to go remote permanently is also expected to give this market an impetus like never before.

The storage as a service market grew around 15% Y-o-Y in 2018 and 2019 and with the outbreak of COVID-19, the market is expected to witness a growth rate of around 18%-20% during 2021-2023.

In the short-term, the storage as a service market may face challenges in maintaining the growth rate as the budget concerns, declining profitability and sales growth, have resulted in severely losses for businesses of all sizes. However, the long-term outlook for storage as a service market remains positive as the market is projected to see a 4.5x growth during the forecast period.

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Partnerships and Innovations to Drive Growth

Ever changing technological landscape, customer expectations, and intensive competition are creating a storm in the global Storage as a Service market, which is compelling solution providers to continuously look for innovating and cost-effective solutions. Moreover, collaborations and partnerships with digital solution providers can also help Storage as a Service solution providers to enhance their market share and customer base.

For instance, in March 2020, Pure Storage and SAP entered into the partnership to offer customers with joint competency centers, technical support, and technology integrations in areas of STaaS, intelligent enterprise, cloud computing, storage and virtualization.

More Valuable Insights on Storage as a Service Market

FMI’s report on the Storage as a Service market is segmented into four major sections which are service type (Cloud NAS, Cloud SAN, Cloud Backup, Cloud Archiving), enterprise size (small & medium enterprises, large enterprises), industry (BFSI, Media & Entertainment, Government, Healthcare, IT & Telecom, Manufacturing, Education, Others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa) to help readers understand and lucrative evaluate opportunities in the Storage as a Service market.