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

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).

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. '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.'

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.

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.

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).