Billing machine is a machine designed for mechanical operations such as typing, adding, computation, and duplication. It is most commonly used in filling out bills and providing a record of customer invoices. Billing machine comprises a calculator, an electric typewriter, a programmed control device, and a unit for recording the information. Billing machines are majorly used in bookkeeping departments, commercial enterprises, banking sector, shopping malls, retail stores, supermarkets, hotels, etc. Various types of billing machines are available in the market. Digital or electronic billing machines are becoming popular because they increase productivity and support barcodes, weighing machines, USB connectivity, and have inbuilt battery.
Key factors driving the growth of the global billing machine market include increase in the number of hypermarkets, supermarkets, and specialty stores, rise in digitalization in emerging economies, and rapid urbanization across the world. Rapid growth in the hospitality and food & beverage industry is likely to drive the demand for billing machines in the near future. Boom in e-commerce has created good opportunities for manufacturers and suppliers in the industry. In order to cater to a wide range of customers across the world, producers and distributors of billing machine are selling their products through various online channels is anticipated to generate high demand for the product in the near future.
The global billing machine market can be segmented based on product type, distribution channel, application, and region. In terms of product type, the market can be categorized into POS billing machine, electronic billing machine, card swipe billing machine, and spot billing machine. The POS billing segment is expected to dominate the billing machine market in the near future as it is widely used in supermarkets and retail outlets. Based on distribution channel, the global billing machine market can be bifurcated into online and offline. Online distribution channel includes authorized websites of billing machine brands and e-commerce portals. Offline distribution channel includes brand outlets, specialized stores, and third party distributors. In terms of application, the global billing machine market can be classified into hypermarkets, supermarkets, and fast food & hospitality chains. Based on region, the global billing machine market can be divided into Europe, North America, Asia Pacific, South America, and Middle East & Africa. The billing machine market in Asia Pacific is projected to expand at a significant pace during the forecast period due to increase the number of hypermarkets, supermarkets, and fast food outlets in countries such as China, India, Japan, Thailand, Singapore, Malaysia, etc. and favorable government rules & regulations for digitalization. The billing machine market in Middle East & Africa is estimated to grow rapidly during the forecast period owing to boom in food & beverage industry and increase in construction of hotels and shopping malls in countries such as the UAE and Saudi Arabia. The global billing machine market in South America is projected to grow at a moderate rate in the near future. Rapid urbanization in countries such as Brazil, Argentina, Chile, Venezuela, and Colombia is likely to boost the demand for billing machines in the region during the forecast period.
Prominent players operating in the global billing machine market are Seiko Epson Corporation, Casio Computer Co. Ltd., Softland India ltd., WeP Group, Busin Technology Co. Ltd., Xiamen Goodcom Technology Co. Ltd., and Shenzhen Hoin Electronic Technology Co, Ltd. These companies are focusing on innovation in products and research & development to strengthen their foothold in the global billing machine market. Companies are undertaking joint ventures and mergers & acquisitions with local players to enhance their product portfolio. Manufacturers in developing countries are focusing on reducing their cost of production and increasing profitability for the sustainable growth of their business.
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