Market Overview:
The global thermal printing market is envisioned to progress from USD 43.2 billion in 2021 to USD 53.5 billion by 2026. It is determined to grow at a CAGR of 4.4% during the outlook period.
Use of heated pins to produce information on a thermal paper is called thermal printing. Thermal printers are providing high-speed printing, owing to which they are used at the point of sales (POS) counters. There is two types of technology used, namely thermal transfer and direct thermal transfer. Both these methods employ a thermal print head that applies heat to the surface being marked. Thermal transform printing uses a heat-sensitive ribbon instead of heat-sensitive paper, in order to produce long-lasting and durable print. It is predominantly used for live rhythm strips on hospital cardiac monitors. Thermal printing technology is one of three technologies with injecting and electrography, which is used for industrial printing.
Recent Developments:
Toshiba, an American business solution company, launched a new thermal barcode printer that tackles compliance- driven application. Its premium thermal barcode printer delivers high-resolution labels with accuracy and speed. Toshiba’s B-EX4T3HS is able to print 600 dots per inch at speed up to six inches per second.
SATO Holdings (Japan) launched CL4NX Plus, a thermal industrial printer designed for durability and dependability in business-critical track and trace applications across the world. The evolution of the CL4NX series is directly connected to the changing needs of the market in line with the SATO vision to be the most trusted Auto-ID solutions company worldwide.
Market Growth:
Increasing demand for thermal printers from the retailer, warehouse, logistics, and manufacturing sector is a significant factor that increases the growth of the thermal printer market.
Drivers:
Increasing adoption of wireless technology in mobile printers, rapid industrialization of emerging market and strong distribution network of thermal manufacturers, improve in the implementation of automatic identification and data capture (AIDC) techniques for enhancing productivity, application of thermal printers in on-demand printing, mounting concerns for the safety of products and anti-counterfeiting, and increasing selection in the healthcare sector are the influential factors prompting the growth of the global Thermal Printer market.
The advancement of the retail sector is also predicted to fuel the global thermal printing market during the assessment period. Nowadays, retailers are offering rapid and efficient service to customers. Thermal printer is typically used for the superior and high-speed solution, which is not found in case of convention impact printers. The thermal printer is cost-efficient as compared to conventional printers. Also, growing disposable income, the industrialization of emerging economies and rising global population are the growth drivers of the global thermal printing market.
Restrains:
The poor image quality of barcode labels and complexity in heat setting of thermal barcode printers are the two key factors that are restraining the market growth. Launching of the new printing method is expected to interface the global thermal printing market. Emerging of novel technology is expected to control the market growth. RFID is an emerging and rapid advanced technology which has no substitute currently. Moreover, mobile barcoding, RFID, right part making, electronic self-labels are expected to pose a challenge to the thermal printing market.
Low (competitive) price offering from new entrants is presumed to restrain the growth of the thermal printing market over the forecast period. Thermal printer manufactures in China and India have easy access to the cheap raw material and labours where they can take less price product. It is impacting global market players drastically.
The primary factor that affects the growth of the global thermal printing market is the low quality of printed labels, as they are sensitive to heat, light, and abrasion. Also, thermal printers cannot be used for general printing, and coherent issues are some other factors restraining the growth of the global market.
Market Segmentation:
Thermal printing market is segmented by technology, printer type, end-use industry, and by geography.
By end-use industry, the market is divided into transportation and logistics, retail, healthcare, manufacturing. The retail segment dominated the global market in 2019, accounting for 29.7% share in term of value, followed by manufacturing, transportation & logistics and healthcare, respectively.
By printer type, the worldwide market is separated into barcode printers, POS printers, kiosk & ticket printers, RFID printers, and card printers. Barcode printer is expected to lead the thermal market. Barcode printer is extensively used in small, medium and large businesses.
Regional Analysis:
By region, the global thermal printing market is segmented into North America, Europe, Asia- Pacific, Middle East and Africa. North America takes the largest revenue share due to increasing eclipse of thermal printers in various sectors such as logistics, smart packaging, warehousing etc. The Europe market accounts for significant revenue share in the target market. The Asia Pacific market is anticipated to extend their business during the outlook period, and this can happen due to rapid urbanization and development of retail and e-Commerce sector in countries in this area.
Leading company:
SATO and Toshiba Tech Corporation accounted for the most considerable share in the international thermal printing market size.
Key Players:
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