USD 44 billion
Thermal Printing Market Size, Share, Growth Analysis, By Offering(Printer, Supplies), By Printer Type(Barcode Printers, POS Printers, Kiosk & Ticket Printers, RFID Printers), By Format Type(Industrial Format, Desktop Format, Mobile Format), By Printing Technology(Direct Thermal (DT), Thermal Transfer (TT), Dye Diffusion Thermal Transfer (D2T2)), By Application(Retail, Transportation & Logistics, Manufacturing & Industrial, Healthcare & Hospitality), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2065 |
Region:
Global |
Published Date: February, 2024
Pages:
270
|Tables:
148
|Figures:
78
Thermal Printing Market Insights
Global Thermal Printing Market size was valued at USD 44 billion in 2019 and is poised to grow from USD 45.94 billion in 2023 to USD 65.75 billion by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).
A thermal printer is a printer that uses heat to create images on paper. Because of its high print quality, thermal printers are increasingly used in the retail, airline, entertainment, banking, supermarket, and healthcare industries. Furthermore, thermal printing does not use ink or toner and relies heavily on thermal sheets to produce high-quality images.
Rising use of automatic identification and data capture technologies to improve productivity, rising concerns about product safety and counterfeiting, rising use of thermal printing technology in latest on-demand printing applications, rising penetration of wireless technologies in mobile printers, and rising use of RFID and barcode thermal printers in the fast-growing e-commerce industry are the key driving factors for the thermal printing market.
US Thermal Printing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Retail
Fastest Growth
Retail
Growth Rate
4.4% CAGR
Global Thermal Printing Market, 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Thermal Printing Market Segmental Analysis
The global Thermal Printing market is segmented based on offering, printer type, format type, printing technology, application, and region. Based on offering, the thermal printing market is segmented into printer, supplies. Based on printer type, the thermal printing market is segmented into Barcode Printers, POS Printers, Kiosk & Ticket Printers, RFID Printers, Card Printers. Based on format type, the thermal printing market is segmented into industrial format, desktop format, mobile format. Based on printing technology, the thermal printing market is segmented into Direct Thermal (DT), Thermal Transfer (TT), Dye Diffusion Thermal Transfer (D2T2). Based on application, the thermal printing market is segmented into Retail, Transportation & Logistics, Manufacturing & Industrial, Healthcare & Hospitality, Government, Others. Based on region, the Thermal Printing market is categorized into North America, Europe, Asia-Pacific, and MEA.
Thermal Printing Market Analysis by Application
The healthcare and hospitality segment dominated the global thermal printing market in 2021 and it is predicted to register the fastest CAGR over the forecast period. The adoption of smart labels allows for the quick tracking of patients and medical equipment, which is especially useful in crises. Thermal printers are frequently used in healthcare applications to print labels and tags that are compatible with multiple procedures and serve to enhance patient flow, bed usage, and asset allocation.
Global Thermal Printing Market By Application, 2021 (%)
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Thermal Printing Market Regional Insights
During the forecast period, North America is estimated to account for the largest share of the thermal printing market. Retail, transportation & logistics, manufacturing & industrial, and healthcare & hospitality are the key application areas in which thermal printers are employed in the region. Several firms that provide thermal printers and supplies have a presence in this region, which contributes to the market's growth in North America. Among the thermal printer manufacturers with a presence in North America are Zebra Technologies (US), Honeywell International (US), NCR Corporation (US), and Avery Dennison (US).
Global Thermal Printing Market By Geography, 2021-2028
- Largest
- Fastest
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Thermal Printing Market Dynamics
Thermal Printing Market Driver
The expanding retail industry is likely to boost the worldwide thermal printing market growth throughout the forecast period.
- Retailers are consistently focused on their point of sale (POS) experience by providing customers with quick and efficient services. Thermal printing is often utilized for improved and high-speed solutions, which traditional impact printers do not provide. Furthermore, thermal printers are less expensive than conventional printers, which is encouraging their popularity. Many retail stores in Europe, North America, and Europe have begun to favor thermal printers over impact printers. According to CMI study, APEJ is predicted to account for over half of the world's top fifty largest economies' sales in the next five years, more than doubling that of North America, the next largest region in the retail industry.
Thermal Printing Market Restraint
Competitive pricing from new entrants is projected to hinder global thermal printing market growth over the forecast period.
- Thermal printer manufacturers' intense competition is projected to limit market growth in the near future. Thermal printer producers in China and India have easy access to cheap raw materials and labor, allowing them to keep product prices low. This, in turn, is projected to have a substantial influence on worldwide market participants. Increasing functionality and performance, combined with price decreases in developed nations such as North America and Europe, have made it difficult for main industry participants to compete with manufacturers from emerging economies. This is projected to stifle market expansion during the forecast period.
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Thermal Printing Market Competitive Landscape
Thermal barcode printers are widely used in small, medium, and big businesses to mark and track things that will be transported later. This is one of the major aspects that has contributed to barcode printers' dominance in the thermal printer market. To keep up with the fast-changing demand, prominent industry players are predicted to focus more on technology updates and frequent product launch. Companies like Zebra Technologies Inc. have released a new version of the desktop thermal printer designed specifically to fulfill the growing demand from the healthcare, retail, and manufacturing industries. Thermal printing can be used to replace traditional advertising and provide product information to buyers by simply scanning the labels.
Thermal Printing Market Top Players Company Profiles
- Zebra Technologies Corporation
- Honeywell International Inc.
- Seiko Epson Corporation
- Toshiba Tec Corporation
- Brother Industries, Ltd.
- Bixolon Co., Ltd.
- Star Micronics Co., Ltd.
- Citizen Systems Europe GmbH
- Sato Holdings Corporation
- Avery Dennison Corporation
- TSC Auto ID Technology Co., Ltd.
- Dascom Holdings Limited
- Dymo Corporation
- Godex International Co., Ltd.
- Fujitsu Limited
- Printronix Auto ID, Inc.
- Brady Corporation
- Cab Produkttechnik GmbH & Co KG
- Novexx Solutions GmbH
- Oki Electric Industry Co., Ltd.
Thermal Printing Market Recent Development
- In August 2022, VPF, a German self-adhesive materials specialist, expanded its offering with the addition of 1470579 blue clean 70 g/m2, a new chemical-free thermal paper. The product is acceptable for direct food contact as an adhesive material.
- In February 2022, Proell showcased a range of products at K 2022. Its core business lies in the development of custom-made chemical products for coating/decorating plastics, metals, glass and other materials, as well as innovative ink systems and protective lacquers for IMD/FIM technology, and screen and pad printing inks.
Thermal Printing Key Market Trends
- The market is witnessing a significant shift toward portable thermal printers. The advancement of modern technologies has permitted the manufacture of portable thermal printers. Direct thermal printheads are the smallest and lightest thermal printers available. Furthermore, portable thermal printers use substantially less energy and are much smaller in size. These printers use low voltage, which is intended to increase market penetration. Furthermore, the use of wireless technology in thermal printers is projected to improve printing quality and speed.
- Rising disposable income and rapid urbanization in emerging economies in Eastern Europe, Latin America, and Asia-Pacific are creating a favorable climate for the retail industry. This, in turn, is likely to fuel the growth of the thermal printing market in these regions. According to CMI study, the Asia Pacific Market is predicted to grow at the fastest rate throughout the projection period, followed by Eastern Europe. The growing population in Asia Pacific, the Middle East, and Africa is likely to drive the expansion of the thermal printing industry.
Thermal Printing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the rise in concerns about counterfeit goods and products promotes market growth. Adoption of automated and advanced technologies such as automatic identification and data capture (AIDC), as well as wireless mobile printers, are some key factors driving global market development. However, low quality printed labels, which are susceptible to heat, light, and abrasion, are a major impediment to global thermal printer market growth. Furthermore, thermal printers cannot be utilized for ordinary printing, and compatibility issues are a few other constraints limiting global market expansion.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 44 billion |
| Market size value in 2031 | USD 65.75 billion |
| Growth Rate | 4.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Thermal Printing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Thermal Printing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Thermal Printing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Thermal Printing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Thermal Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Thermal Printing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Thermal Printing Market Report Snapshots
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