The global thermal printing market is estimated to be valued at USD 13.3 billion in 2023. The market is projected to reach USD 28.4 billion by 2033, exhibiting a CAGR of 7.8% from 2023 to 2033.
The global thermal printing market is rapidly expanding as a result of growing requirements for thermal printers that are durable and reliable for printing tasks in harsh environments and for high production volumes. As a result, the global thermal printing market is anticipated to expand at a rapid pace during the forecast period of 2023 to 2033.
One of the major factors driving the market is the incorporation of thermal printers into the retail industry. Many people believe that thermal printing is the future of commerce. The printing industry's adoption of novice and sophisticated technology across multiple applications is anticipated to propel the market in the coming years.
| Attributes | Details |
|---|---|
| Thermal Printing Market Value (2022) | USD 817.6 billion |
| Thermal Printing Market Value (2023) | USD 13.3 billion |
| Thermal Printing Market Expected Value (2033) | USD 28.4 billion |
| Thermal Printing Market Projected CAGR (2023 to 2033) | 7.8% |
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Growing utilization of data capture technologies and autonomous identification to boost efficacy, increasing adoption of thermal printing technology in the current on-demand printing uses, expanding concerns about product security and counterfeiting, the emerging use of RFID and barcode thermal printers in the fast-growing e-commerce business, and increasing implementation of wireless technologies in mobile printers are emerging as significant catalysts for the global market.
The thermal printing market was estimated to grow at a CAGR of 5.7% over the historical period ranging from 2018 to 2022. Furthermore, thermal printing is viewed as a trending technology in advanced economies including Germany, the United States, and China, among others. Overall, the global thermal printing market is expected to perform even better in the coming years, expanding at a remarkable CAGR of 7.8% through 2033.
Thermal printing solutions provide more reliable and faster printing solutions than traditional impact printers and are thus extensively utilized at POS in retail stores to improve the user experience. The cost-effectiveness of thermal printing solutions in comparison to conventional printing solutions is fueling the global thermal printing market's flourishing.
Emerging countries such as India, China, Brazil, and Mexico which are experiencing substantial economic expansion and the industrial revolution are anticipated to come out as lucrative markets for thermal printing suppliers. These nations are becoming production centers for a variety of products, with vendors focusing on modernizing infrastructure for optimal production.
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Thermal printer companies are widening their product portfolios and offering value-added products for customers as a consequence of prominent commoditization. RFID (Radio-frequency identification) technology is being prioritized by crucial thermal printing solution suppliers in order to satisfy the ever-growing need for RFID-printed labels in the retail, health care, and transport distribution networks.
Thermal printers are vastly used in healthcare applications to print labels and tags that are compatible with several processes and encourage improved patient flow, bed utilization, and asset allocation. Additionally, the implementation of smart labels, which aid in the instant assessment of patients and medical equipment, is paving up opportunities for thermal printers in the medical industry.
The increasing embrace of automatic identification and data capture innovations for boosting productivity is one of the major variables driving RFID printer adoption as well as aiding the growth of the thermal printing market.
Competitive pricing from emerging players to restrain global thermal printing market growth
Strong rivalry among thermal printer producers is projected to limit market growth in the coming years. Thermal printer companies in China and India have easy accessibility to cheap inexpensive supplies and labor, permitting them to charge low prices for their products. This, in consequence, is anticipated to have an enormous effect on global market participants.
Enhancing functionality and execution, combined with declining prices in industrialized economies such as North America and Europe, have made it difficult for major vendors to maintain an edge over producers from nations that are developing. This is anticipated to impede the market's expansion over the forecast duration.
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The United States is regarded as an effective market for thermal printing structures, as numerous businesses delivering thermal printers and supplies have established their operations in the country in order to capture a large set of consumers and thus achieve economies of scale. According to the report, the United States was expected to account for 17.4% of the market in 2022.
The market is expected to grow at an increasing pace until 2033. The growing industrialization, urbanization, and increasing financial resources in the United States are projected to fuel the thermal printing marketplace.
Many stores in the United States have made the shift from impact printers to more contemporary, thermal-only options. enterprises are focusing more on lowering printing expenses, ecological effects, and printer maintenance expenses, among other things. Furthermore, the existence of significant firms in the area, such as Honeywell, favors the retail, transportation, and logistics fields, which are anticipated to fuel the growth of the thermal printing market in this country.
During the forecast duration, the thermal printer market in India is anticipated to expand at a significant CAGR. Rising demands from multiple end-user sectors, as well as the mainstreaming of novel technologies, are projected to propel the Indian thermal printer market throughout the forecast period. Furthermore, corresponding advantages including affordable prices, longevity, and printing pace, among others, are expected to boost the market's development in the coming years.
Furthermore, as the medical and retail sectors expand, the market for thermal printing may expand. Thermal printing solutions provide higher-quality and faster printing solutions than traditional impact printers and are thus extensively utilized at POS in retail outlets to improve the user experience. Thermal printer in India is anticipated to expand at a CAGR of 9.3% over the forecast period.
Brazilian label printers and converters are more proficient than most developing nations, and they keep spending on cutting-edge technology to guarantee they can provide superior goods and services to both global and local end users.
With a booming middle-class population and a wide-ranging retail ecosystem, such as Brazil's massive market, lucrative prospects exist. Despite the fact that Brazil faces few political and economic challenges, such as high fiscal deficits, the market outlook remains optimistic. Furthermore, rising competition between national and global players is expected to fuel growth in the Brazilian thermal printing market.
Thermal transfer technology is utilized extensively in the medical sector, where thermal printers generate significant and lengthy printouts, such as electrocardiograms. Thermal producers of paper are able to generate products with substantially greater tolerance and longer life due to recent technological advancements in thermal technology.
Thermal transfer printers create more legible, long-lasting prints than direct thermal printers, which are inclined to smudge and fade away gradually.
Thermal printing technology offers a wide range of label stocks that are resistant to a variety of challenging environments such as water, heat, acid, and direct sunlight. In 2022, the transfer technology segment was expected to account for 46.2% of the market.
In 2022, the barcode printers segment had the highest share of revenues at 40.2% in the worldwide thermal printing market. Barcode printers are incredibly adaptable since they may print on a broad spectrum of materials, including paper, polyesters, PTFE, Tyvek, etc., and they may utilize an array of ribbons to achieve the desired print appearance and longevity.
High-quality print can produce even a very thin 2.5 mil barcode, and as a result of these benefits, there is a growing demand for thermal barcode printers, which is contributing to sales growth in this segment.
The global thermal printing market has a fragmented competition landscape, with top players focusing on partnerships and collaborations with local and regional producers and retailers in order to bolster their competitive edges and broaden their global footprints.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.8% from 2023 to 2033 |
| Market Value in 2023 | USD 13.3 billion |
| Market Value in 2033 | USD 28.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Key Regions Covered |
North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East & Africa |
| Key Countries Covered |
United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Segments Covered |
Printer Type, Printing Technology, Industry, Region |
| Key Companies Profiled |
NCR Corporation; Honeywell International Inc.; Zebra Technologies Corporation; Fujitsu Limited; HP Development Company, L.P.; Seiko Epson Corporation; Toshiba Tec Corporation; Brother Industries, Ltd.; Star Micronics Co., Ltd.; NEC Corporation; Advantech Co., Ltd.; SATO HOLDINGS CORPORATION; BIXOLON CO., LTD.; TSC Auto ID Technology Co. Ltd.; Citizen Systems |
| Customization & Pricing | Available upon Request |
The global thermal printing market value is likely to be around USD 28.4 billion in 2023.
The global demand for thermal printing services rose at a CAGR of 5.7% between 2018 and 2022.
The global thermal printing demand is forecasted to accrue almost USD 28.4 billion by 2033.
Focus on lowering printing expenses has enhance the United States market with 17.4% share.
The demand for thermal printing services in India is expected to register 9.3% CAGR till 2033.
1. Executive Summary | Thermal Printing Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printer Type 5.1. Barcode Printer 5.2. POS Printer 5.3. Kiosk & Ticket Printer 5.4. RFID Printer 5.5. Card Printer 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Printing Technology 6.1. Direct Thermal 6.2. Thermal Transfer 6.3. Dye Diffusion Thermal Transfer 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Industry 7.1. Retail & Wholesale 7.2. Transportation & Logistics 7.3. Healthcare 7.4. Travel & Hospitality 7.5. Media & Entertainment 7.6. Manufacturing 7.7. Government 7.8. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia 8.5. East Asia 8.6. Oceania 8.7. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. NCR Corporation 18.2. Honeywell International Inc. 18.3. Zebra Technologies Corporation 18.4. Fujitsu Limited 18.5. HP Development Company, L.P. 18.6. Seiko Epson Corporation 18.7. Toshiba Tec Corporation 18.8. Brother Industries, Ltd. 18.9. Star Micronics Co., Ltd. 18.10. NEC Corporation 18.11. Advantech Co., Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Thermal Printing Market
