NEWARK, DE / ACCESSWIRE / March 21, 2023 / The global thermal printing market is anticipated to witness impressive growth with a CAGR of 7.1% throughout the forecast period from 2021 to 2031. The rapid growth of the market is attributed to the increasing demand for thermal printers that are durable and reliable for printing tasks in tough environments, and for a large production volume.

The widespread inclusion of thermal printers in the retail industry is one of the primary factors driving the market. Thermal printing is touted as the future of commerce by many.

According to the historical analysis conducted by Future Market Insights, the global market for thermal printing registered a CAGR of 5.8% from 2016 to 2020. The present growth in the market is attributed to the surge in the adoption of novice and advanced technologies across various applications within the printing industry is likely to drive the market over the coming years.

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Drastic utilization of data capture technologies and automatic identification for enhancing productivity along with propelling usage of thermal printing technology in the latest on-demand printing applications is anticipated to augment growth in the market. Furthermore, increasing concerns regarding product safety and anti-counterfeiting, growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry, and rising penetration of wireless technologies in mobile printers are emerging as key driving factors for the global thermal printing market.

Report Highlights

Thermal printing has been witnessed as a trending technology in developed economies such as Germany, the U.S., China, and so on. Overall, the global market for thermal printing is projected to fare even better over the coming years.

Thermal printing solutions are likely to offer superior and high-speed printing solutions in comparison to conventional impact printers and therefore, are excessively utilized as POS in retail stores in order to enhance the customer experience. Furthermore, the cost-effectiveness of thermal printing solutions in comparison to conventional printing solutions is further boosting the growth of the global thermal printing market worldwide.

Propelling economies all over the world such as India, China, Brazil, and Mexico that are undergoing rapid economic growth and industrialization are expected to emerge as profitable markets for providers of thermal printing products. These countries are becoming manufacturing hubs for various products, and manufacturers in these countries focus on modernizing infrastructures for optimum production.

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Recent Developments

As a result of extensive commoditization, thermal printer vendors are diversifying their product portfolios and offering value-added products to consumers. Key thermal printing solution providers are focusing on RFID (Radio-frequency identification) technology to cater to the rapidly increasing demand for RFID-printed labels in the supply chains of the retail, healthcare, and transportation industries.

Thermal printers are widely utilized for printing labels and tags that are highly compatible with numerous processes within healthcare applications. It also helps to improve patient flow, bed utilization, and asset allocation. Furthermore, the use of smart labels helps in the instant tracking of patients and medical equipment, especially in emergencies, paving way for thermal printers in the healthcare sector.

At present, thermal printing technology is anticipated to be superior to ink or laser-based printing for numerous applications. RFID is rapidly becoming popular as a widely adopted technology, with no available substitutes.

Thermal printing has no near-term threat, but in the coming years, the number of technologies competing with thermal printing is likely to increase. RFID, electronic shelf labels, direct-part marking, and mobile barcoding will pose technological threats to barcode thermal printing.

Competitive Landscape

The global thermal printing market presents a fragmented outlook of the global market where leading market players are focusing on entering into partnerships and collaborations with local & regional manufacturers and distributors to strengthen their market positions and expand their global footprints.

In October 2020, HP Development Company partnered with Additive Manufacturing Technologies (AMT), a global leader in safe and sustainable industrial automated chemical-vapor smoothing (post-processing) systems for additively manufactured parts, announced a new alliance to drive the expansion of industrial 3D printed parts across industries such as automotive, industrial, medical and sporting goods at scale.

More Insights into the Thermal Printing Market

The North American region is anticipated to dominate the global thermal printing market over the forecast period. Until 2020, thermal printing sales across the United States noted a Y-o-Y growth of over 4.4% to reach close to US$ 1.9 Billion. The market is set to further expand at a positive rate through 2031.

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Key Segments Covered

Printer Type:

• Barcode Printer
• POS Printer
• Kiosk & Ticket Printer
• RFID Printer
• Card Printer

Printing Technology:

• Direct Thermal
• Thermal Transfer
• Dye Diffusion Thermal Transfer

Format Type:

• Industrial
• Desktop
• Mobile

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 (MEA)

Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Technology Innovation / Development Trends

3.3. Key Success Factors

4. - Pricing Analysis

4.1. Pricing Analysis, By Printer Type

4.2. Average Pricing Analysis Benchmark

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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SOURCE: Future Market Insights Inc.