The global thermal printing market is expected to be worth US$ 13.3 billion in 2023. The market is expected to reach US$ 28.4 billion by 2033, expanding at a 7.8% CAGR from 2023 to 2033.
As a consequence of the increasing demand for thermal printers that are resilient and dependable for printing tasks in adverse conditions and at high levels of production, the global thermal printing market is steadily growing. As a result of these factors, the global thermal printing market is expected to expand at a rapid pace from 2023 to 2033.
The integration of thermal printers into the retail industry is one of the key variables driving the market. Many individuals believe that thermal printing is the way of the future. The implementation of novice and advanced technology across numerous uses by the printing industry is projected to drive the market in coming years.
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Thermal printing solutions are reliable as well as quicker than traditional impact printers and are thus widely used at point of sale (POS) in retail stores to improve the user experience. Thermal printing solutions are more cost-effective than traditional printing solutions, which stimulates the global thermal printing market’s growth.
Key Takeaways:
- The thermal printing market is expected to grow at a 5.7% CAGR over the next two decades (2018-2022).
- The United States was projected to account for 17.4% of the market in 2022, according to the report.
- Thermal printers are expected to grow at a CAGR of 9.3% in India over the forecast period.
- Transfer technology was anticipated to account for 46.2% of the market in 2022.
- In 2022, the barcode printers segment had the highest revenue percentage of 40.2% in the global thermal printing market.
“Increased incidence of the cardiovascular disease is anticipated to boost the use of thermal printers for capturing live rhythm strips, creating lucrative prospects for market participants throughout the forecast period.” says FMI analyst.
Competitive Landscape
Top players in the global thermal printing market are concentrating on partnerships and collaborations with local and regional manufacturers and retailers in order to strengthen their competitive edges and broaden their global footprints.
- In February 2021, Honeywell International Inc. announced a collaboration agreement with IDEMIA, the global leader in Augmented Identity, to establish and cultivate an intelligent building ecosystem that provides a more seamless and excellent experience for both users and occupants.
- On January 22, 2020, Epson developed the ColorWorks C6000 series on-demand label printers as a color upgrade for customers who currently use black-only thermal transfer options.
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Key Players
- NCR Corporation
- Honeywell International Inc.
- Zebra Technologies Corporation
- Fujitsu Limited
- HP Development Company, L.P.
- Seiko Epson Corporation
- Toshiba Tec Corporation
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the thermal printing market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of printer type (barcode printer, POS printer, kiosk & ticket printer, RFID printer and card printer), printing technology (direct thermal, thermal transfer and dye diffusion thermal transfer), and industry (retail & wholesale, transportation & logistics, healthcare, travel & hospitality, media & entertainment, manufacturing, government, and others) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
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Key Segments profiled in the Thermal Printing Industry Survey
Printer Type:
- Barcode Printer
- POS Printer
- Kiosk & Ticket Printer
- RFID Printer
- Card Printer
Printing Technology:
- Direct Thermal
- Thermal Transfer
- Dye Diffusion Thermal Transfer
Industry:
- Retail & Wholesale
- Transportation & Logistics
- Healthcare
- Travel & Hospitality
- Media & Entertainment
- Manufacturing
- Government
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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