Global Thermal Printing Market is valued at US$ 45.60 Billion in 2022, and is projected to reach US$ 64.17 Billion by 2030, exhibiting a CAGR of 4.5% over the forecast period (2023-2030). According to Thermal Printing Market Report, " By Technology (Direct Thermal, Thermal Transfer), By Printer (PoS Pointer, Label and Tag Printer, RFID Printer), By End-use Industry (Transportation & Logistics, Retail, Healthcare, Manufacturing, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa).
The primary factors anticipated to boost the growth of the global thermal printing market are technological advancements and the growth of mobile and on-demand printing. The proliferation of mobile devices and on-demand services has increased the demand for compact and portable printing solutions. Thermal printers are small and portable options that are simple to integrate with smartphones and tablets, making it possible to print while on the go. Field service, transportation, and healthcare have increased demand for thermal printing as a result of this.
Global Thermal Printing Market- Drivers
Growth of Mobile and On-Demand Printing
The demand for instant printing capabilities has increased as a result of the rise of on-demand services in a variety of sectors, including retail, transportation, and food delivery. Businesses can quickly produce the necessary documents, receipts, or labels with on-demand printing to fulfill customer orders or provide immediate services. This pattern has prompted the advancement of reduced, versatile, and productive portable printers that can be utilized in a hurry. Here, the use of thermal printers is on the rise due to the need for several industries to use on-demand printing. It is now easier to connect mobile devices to printers due to advancements in wireless technologies like Bluetooth and Wi-Fi. Versatile printers can now be remotely matched with cell phones and tablets, killing the requirement for links or actual associations. This wireless connectivity makes it possible to print from a mobile device without any problems. For instance, according to the Wi-Fi Alliance, in 2020 there were over 20 billion of his Wi-Fi devices in use worldwide. This confirms the widespread adoption and integration of Wi-Fi technology into various devices such as smartphones, laptops, smart home devices, and IoT devices.
Global Thermal Printing Market - Restraints
Print Quality Limitations
In comparison to conventional desktop printers, mobile printers may have limitations in terms of print quality and capabilities due to their small size and portability. Mobile printers may not have the same print resolution, speed, or color accuracy as larger printers. This can be a problem for some applications that need high-quality prints. When compared to larger printers, mobile ones typically have lower print resolutions. The restricted actual space inside a minimized portable printer limits the quantity of print head spouts or warm components, which can influence the degree of detail and sharpness in the printed yield. As a result, the prints may not be as clear and precise as those produced by desktop printers with higher resolutions. For instance, search interest for the term print-on-demand rose dramatically at the start of the pandemic in March 2020. In 2023, it remains way above the pre-pandemic level and has started growing faster since December 2021. The fact that the interest remains significantly above pre-pandemic levels 3 years later indicates that print-on-demand has sustained its popularity and relevance even after the initial surge of interest
Counterbalance - Choosing a high-quality print media can have a big impact on your print output. Using high-quality paper or special print media made for mobile printers improves sharpness, color accuracy, and overall print quality. If the print quality of your mobile printer is not sufficient for your particular application, you can take additional post-processing steps. For example, a printed document can be captured with a professional scanner and edited digitally to improve sharpness and sharpness. Some mobile printers are compatible with external accessories that improve print quality. For example, installable printheads or additional cartridges can improve the resolution and color accuracy of your printouts.
Global Thermal Printing Market- Key Developments
On January 4, 2023 Seiko Epson Corporation, has announced that it will exhibit back office and retail point of sale solutions at NRF 2023: The Big Show in Retail from January 15-17, 2023. The Japanese multinational electronics company Seiko Epson Corporation, or Epson for short, is one of the world's largest manufacturers of computer printers and equipment related to information and imaging. Epson presented its most recent, cutting-edge products for retail businesses that provide outstanding value, results, and improved profitability. In addition, Epson also introduced a new line of mobile POS (Point of Sale) thermal receipt printers that are built to meet the requirements of any retail or hospitality setting. These printers have a sleek, modern design, and better connectivity, and are designed to meet the needs of today and in the future. POS Printers for Receipts: The OBniLink TM-T88VII, the industry's fastest POS receipt printer, provides flexible connectivity between multiple devices to help businesses provide the best customer experience possible in virtually any setting. Businesses can use printing from web-based applications, such as online ordering services, with the OBniLink TM-H6000V multifunction receipt printer with slip/endorsement printing, preparing them for the ever-changing retail industry. Receipt Printer Designed for Kiosks: The EU-m30 is a sleek, small thermal receipt printer for kiosks that comes with an easy-to-install mounting kit, making it ideal for busy retail environments. The newest thermal label printer without liners: The OBniLink TM-L100 supports most types of media.
On March 16, 2023, BIXOLON Co., Ltd, a leading global manufacturer of advanced Mobile, Label, and POS printers, announced the launch of its next-generation SRP-350V and SRP-350plusV 3-inch (80 mm) Direct Thermal POS printers. These point-of-sale printers have a special paper exit that prevents paper jams and can print vertically or stand alone. In conjunction with enhanced mechanical sensors at the near end and paper end for Blue4est printing with the Visibility Intelligence TM function, which automatically determines the type of paper and improves print quality. The SRP-350V and SRP-350plusV support a paper-saving mode by saving up to 25% of paper per roll with three compression levels through a Unified Utility that does not necessitate software modifications and provides user-friendly functions with LED indicators. Additionally, its B-Melodist offers an optional order notification function for crowded kitchens. Additionally, the new POS printers come with a selection of optional accessories, such as a Splash Cover, a Vertical Stand, a Built-in SMPS, and a Wall Mount.
Global Thermal Printing Market - COVID-19 Pandemic Impact Analysis
The market for thermal printing was significantly affected by the COVID-19 pandemic, which brought both challenges and opportunities. The disruption in the global supply chain, which had an impact on the production and distribution of thermal printers, was one of the main issues. There were closures or reduced operations at manufacturing facilities, which delayed meeting market demand. Additionally, logistical difficulties resulted from restrictions on international transportation and trade, which had an effect on the availability of crucial components and raw materials. Investments in new technologies, such as thermal printing solutions, also decreased as a result of cost-cutting measures and economic uncertainty. For instance, the growing need for thermal printers in COVID-19 testing and vaccination centers is a major aspect driving the market. These centers needed to print test results, vaccination records and appointment labels efficiently and accurately. A thermal printer was used to create crisp, easy-to-read labels with important information such as patient information, test results, and vaccination dates. A thermal printer's ability to produce high-resolution printouts quickly and on demand has proven invaluable in tackling high-volume testing and seeding processes. However, the pandemic also led to a rise in demand for healthcare-related printing, essential goods, and e-commerce. The thermal printing market is anticipated to rebound as the global economy recovers and vaccination efforts progress, driven by the growing use of e-commerce, healthcare requirements, and the requirement for effective printing solutions in a post-pandemic world.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/thermal-printing-market-3260
Key Trends and Analysis of the global thermal printing market:
- North America thermal printing market is expanding rapidly. These include developments in wireless connectivity and mobile printing, rising retail and e-commerce demand, a focus on compliance and traceability in healthcare and food and beverage sectors, the use of sustainable printing methods, the dominance of major market players, and the recovery and growth that followed the pandemic. Businesses are utilizing innovative printing solutions to meet evolving customer demands and regulatory requirements while focusing on sustainability and efficiency, all of which contribute to the expanding thermal printing market in North America.
- The trends in Europe include the growing use of thermal printing technology in retail, healthcare, transportation, logistics, and other industries as a result of the need for ticketing, barcode printing, and labeling that are both effective and accurate. Thermal printers' functionality and adaptability are being significantly enhanced by technological advancements like mobile printing and wireless connectivity. Thermal printing is favored due to its low impact on the environment, and there is also a growing focus on eco-friendly printing methods and sustainability. The European thermal printing market's expansion and development are further aided by the region's focus on regulatory compliance and the presence of prominent market players.
- The Asia Pacific (APAC) thermal printing market is experiencing significant expansion and is influenced by a number of aspects. Due to the region's expanding e-commerce industry and rising demand for effective labeling and barcode printing, these include the rapid adoption of thermal printing technology in retail, logistics, manufacturing, and healthcare sectors. A notable trend is also the rise of mobile and on-demand printing solutions, which cater to the region's fast-paced business environment. Thermal printing solutions are also in high demand as a result of the increasing emphasis on regulatory compliance, particularly in the pharmaceutical and food and beverage industries. The APAC thermal printing market's overall growth and potential are aided by the presence of a large consumer base, expanding industrial sectors, and technological advancements.
- Some of the major players in the 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, HP India Sales Private Limited and Brother International Corporation.