USD 44 billion
Report ID: SQSG20E2009 | Region: Global | Published Date: April, 2023 | Pages: 165 | Tables: 148 | Figures: 78
Global Thermal Printing Market size was valued at USD 44 billion in 2021 and is poised to grow from USD 45.94 billion in 2022 to USD 65.75 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).
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.
Global Market Size
USD 44 billion
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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.
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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).
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Thermal Printing Market Driver
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
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 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
Thermal Printing Market Recent Development
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.
|Market size value in 2021||USD 44 billion|
|Market size value in 2030||USD 45.94 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Thermal Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Product ID: SQSG20E2009