Product ID: SQMIG20E2065
Report ID:
SQMIG20E2065 |
Region:
Global |
Published Date: February, 2024
Pages:
270
|
Tables:
148 |
Figures:
78
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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REQUEST FREE CUSTOMIZATIONGlobal 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).
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Product ID: SQMIG20E2065