The “Global Thermal Printing Market, by Technology (Direct Thermal and Thermal Transfer), by Printer Type (PoS Printer, Label and Tag Printer, and RFID Printer), by End-use Industry (Transportation and Logistics, Retail, Healthcare, Manufacturing, and Others), and by Geography (North America, Europe, Asia Pacific, and Latin America, Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 5,963.4 million by 2027, witnessing a CAGR of 4.0% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
A printer is an electronic device used to print text and images on a printable medium of various sizes. It is usually classified on the basis of printing technology used. Inject printer, laser printer, dot-matrix printer, and thermal printer are some of the most commonly used printers. Thermal printer refers to the use of thermal print head to produce an image or text on chemically treated paper also called thermal or thermo chromic paper. Thermal transfer and direct thermal transfer are two thermal printing technologies used. The thermal transfer printing uses heat-sensitive ribbon instead of heat-sensitive paper to print lasting, durable prints.
The global thermal printing market is estimated to account for US$ 4,349.9 Mn in terms of value by the end of 2019.
Market Dynamic- Driver
Robust distribution network between key players and distribution channel is expected to drive the global thermal printing market growth during the forecast period
Key players in the market largely rely on availability of strong distribution network, in order to gain competitive edge in the market. Currently, the market has easy availability of retailers and distributors of thermal printers that have enabled manufacturers to cater to increasing consumer demands. For instance, retail specialist is becoming a popular distribution channel in emerging markets such as India, China, Brazil, and Russia. Consumers prefer retail stores to purchase home appliances and electronic products. Moreover, increasing penetration of internet has increased the use of online retail, which in turn, is expected to drive the market growth during the forecast period.
Increasing adoption of thermal printers in healthcare industry is expected to offer significant growth opportunities for market players over the forecast period
Thermal printers are used extensively in healthcare sector for recording live rhythm strips on hospital cardiac monitors. Growing prevalence of cardiovascular disease is expected to increase adoption of thermal printers for recording live rhythm strips, which in turn, is expected to pose lucrative growth opportunities for market players during the forecast period.
Growing environmental concerns over disposal of thermal waste are expected to restrain the global thermal printer market growth during the forecast period
Rising environmental concerns regarding disposable thermal waste have increased the demand for greener products, in order to meet consumer needs. Moreover, conventional products need to comply with regulations set by the U.S. Environmental Protection Agency (EPA). Thermal printers produce waste in form of ribbons that are highly dangerous to environment. Moreover, its disposal is another serous concern for thermal printer manufacturers, which in turn, is expected to hinder the market growth over the forecast period.
Global direct thermal based thermal printing market was valued at US$ 2,389.6 Mn in 2018 and is forecasted to reach a value of US$ 3,213.6 Mn by 2027 at a CAGR of 3.1% between 2017 and 2027. This growth is attributed due to the increase in application of direct thermal printers in ticket printing, shipping labels, barcode application, and others.
Printer Type Segment:
PoS printer segment dominated the global thermal printing market in 2018, accounting for 57.7% share in terms of value, followed by label and tag printer, and RFID printer, respectively. This growth is attributed to the increase in demand for PoS printer in retail industry.
End-use industry Segment:
Retail segment dominated the global thermal printing market in 2018, accounting for 29.7% share in terms of value, followed by manufacturing, transportation & logistics, and healthcare, respectively. This growth is attributed to the adoption of thermal printers by retailers to ensure efficient point-of-sale (POS) experience for the customers.
North America is one of the earliest adopters of thermal printing technology. Key players in the region are focused on R&D activities, in order to enhance existing technology and produce more reliable thermal printers. Leading companies are involved in rigorous testing, design, improvements, and rugged component sourcing, in order to produce efficient and lasting thermal printers. Moreover, key players are collaborating with other printers and automatic identification and data capture (AIDC) solution providers to develop innovative solutions and platform expansion to improve their operations.
According to CMI analysis, in Europe, stores account for around 90% of retail shopping, which is encouraging retailers to focus on improving customer shopping and point of sale (POS) experience. Adoption of thermal printers that offer smooth and less noisy operations help to improve POS experience. Furthermore, increasing number of mergers & acquisitions in Western Europe is allowing manufacturers of thermal printers to enhance their product portfolio, while gaining grounds in the other markets.
Key players operating in the global thermal printing market are Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, and Brother International Corporation.
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.