The global thermal printing market is anticipated to grow at a CAGR of around 5.1% during the forecast period 2021 to 2028 and to reach around US$ 6.9 Bn by 2028.
Rapid industrialization across the globe, developing competitive landscape and players focus on point of sale in order to enhance the service efficiency and innovative product offerings from players are major factors expected to drive the growth of global market. The retail sales in the US jumped 17.7% from a month earlier in May of 2020, recovering from a record 14.7% fall in April. Thermal printers are widely used by retailers as they are cost-effective and provide better quality image solution.
Favorable business policies by the government and emergence of small and mid-size enterprise with innovative solution are factors expected to augment the growth of target market. In addition, business development by players in order to increase the customer base and enhance the product portfolio is expected to boost the growth of target market.
In 2020, Printronix Auto a provider of enterprise-grade industrial printing solutions launched Thermal Barcode Printer T4000 RFID. The T4000 prints and encodes on both standard on-metal RFID labels and tags making it a universal solution for almost all RFID applications. This is expected to enhance the company product portfolio.
In 2020, SATO Holdings a focused on manufacturing and sales of auto-identity (ID) technology products like mechatronics products and supply products launched CL4NX Plus, a thermal industrial printer. The product is designed for durability and dependability in business-critical track and trace applications across the world.
In 2020, Toshiba America Business Solutions launched B-EX4T3HS a premium thermal barcode printer. The printer delivers high-resolution labels with precision and speed and prints 600 dots per inch at speeds up to six inches per second. This is expected to help the company ti enhance the customer base
In 2018, Zebra Technologies a global leader in providing solutions and services to enterprises launched ZD420 and ZD620 a next-generation thermal desktop printers. This is expected t help the company to enhance the customer base.
In 2020, TSC Auto ID Technology acquired the Diversified Labeling Solutions, Inc. a global players providing labeling solutions. This acquisition is expected to help the company to enhance the customer base.
However, factors such as stringent government regulation related to printing and poor image quality of barcode labels are factors expected to challenge the growth of global thermal printing market. In addition, problems associated to heat settings of thermal barcode printers is another factor expected to challenge the growth of target market.
Increasing adoption of thermal printers form healthcare sector and innovative product offerings by major players are factors expected to create new opportunities for players operating in the global market. In addition, increasing partnership and agreements is another factor expected to revenue support the growth of target market.
Segment Analysis by Region
The market in North America is expected to account for significant revenue share owing to high demand form retail sector. Rising number of inpatients and outpatients hospitals are focused on enhancing the hospital experience. Thermal printers are widely used to identify pharmaceutical medication, lab slides and samples, access medical records, track surgical tissue and implants, and label breast milk and blood bank inventory. In addition, presence of large number of players operating in the country along with product development activities is expected to support the growth of target market.
Players focus on strengthening the distribution channel in order and focus in online selling for better customer coverage is anticipated to augment the regional market growth.
The global market is high highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.
Global Thermal Printing Market
2017 - 2028
2021 - 2028
Offering, Printer Type, Format Type, Printing Technology, Application and Geography
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Thermal Printing Market Segment Analysis, 2020
The global market is segmented into offering, printer type, format type, printing technology, and application. The application segment is bifurcated into retail, transportation & logistics, manufacturing & industrial, healthcare & hospitality, government, and others. The retail segment is expected to account for major revenue share in the global market due to high focus of players on point of sale.
The printing technology is divided into direct thermal (DT), thermal transfer (TT), and dye diffusion thermal transfer (D2T2). The direct thermal (DT) is expected to account for significant revenue share in the target market due to increasing R&D activities by major players are new product launches.
The players profiled in the report Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., and Brother International Corporation.
Market By Offering
Market By Printer Type
Kiosk & Ticket Printers
Market By Format Type
Market By Printing Technology
Direct Thermal (DT)
Thermal Transfer (TT)
Dye Diffusion Thermal Transfer (D2T2)
Market By Application
Transportation & Logistics
Manufacturing & Industrial
Healthcare & Hospitality
Market By Region
• Rest of Europe
• South Korea
• Rest of Asia-Pacific
• Rest of Latin America
Middle East & Africa
• South Africa
• Rest of Middle East & Africa
The global thermal printing market in 2027 is expected to be above US$ 6.1 Bn.
In application segment the retail segment is growing at faster pace.
The CAGR of the global thermal printing market from 2020-2027 is above 4.5%.
In the global market the Asia Pacific region is expected to grow faster.
Some of the players considered in the report scope are Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., and Brother International Corporation.
Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., and Brother International Corporation and others are the prominent players in the thermal printing market.
The thermal printing market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).