Thermal Printing Market Set to US$ 61,398.90 Million By 2030, Says Consegic Business Intelligence

New York, July 05, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Thermal Printing Market” published by Consegic Business Intelligence, the market was worth USD 41,797.61 Million in 2022 and is anticipated to reach over USD 61,398.90 Million by the year 2030, growing at a CAGR of 5.1%.

Thermal printing is a digital printing process wherein an image is produced by heating thermal paper. The chemicals present on the thermal paper have a crucial role in producing desired image or text. Thus, thermal printers are extensively used for producing labels, barcodes, bills, and receipts in retail, manufacturing, and e-commerce industry.

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The rapid expansion of the e-commerce industry is driving the demand for thermal printers for efficient printing of receipts, price tags, product labels, and barcodes. Thermal printing has an essential role in transportation and logistics sector for correct labeling and tracking of packages. For instance, in September 2022, Brother International Corporation launched mobile A4 thermal printer series called PJ-800 series featuring advanced connectivity options such as USB, Bluetooth or Wi-Fi for efficient operation in delivery and logistics, field sales and service, and emergency services.

The advancements in connectivity options for thermal printers such as Wi-Fi and Bluetooth are expected to present potential opportunities for the growth of the thermal printing market during the forecast period. The integration of advanced connectivity options in thermal printers streamline printing workflows, facilitate remote monitoring and management of business operations. However, the inability of thermal printers to produce variable colors is restraining the growth of the market.

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Thermal Printing Market Growth Drivers:

• The growing adoption of thermal printers in retail industry to improve customer service and streamlining checkout process is accelerating the growth of the market.
• The rising adoption of thermal printers in logistics and shipping operations is accelerating the growth of the market.
• The rapid expansion of the e-commerce industry is driving the demand for thermal printers for printing barcodes, bills, and receipts, resulting in the market growth.

Restraints

• The inability of thermal printers to produce variable colors is hindering the growth of the market.
• The availability of alternatives such as RFID printers is restraining the growth of the market.

Opportunities

• The advancements in connectivity options for thermal printers such as Wi-Fi and Bluetooth is expected to present potential opportunities for the growth of thermal printing market during the forecast period.

Global Thermal Printing Market Segmentation Details:

Based on Printer Type, the barcode printer segment contributed the largest shares to the market growth in 2022. The increasing adoption of barcode technology in industries including retail, healthcare, manufacturing, and logistics is driving the growth of the market. Consequently, the application of barcode printers in product identification, inventory management, and supply chain tracking is contributing to the growth of thermal printing market.

Based on Format Type, the desktop format segment accounted for the maximum revenue share in the year 2022. The increasing adoption of point-of-sale systems is propelling the growth of the market. Desktop printer format are used for printing receipts, labels, and barcodes in manufacturing, transport & logistics industry. Therefore, the ease of use and compact size of desktop thermal printers is propelling the growth of the market.

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Based on Technology, the Direct Thermal (DT) segment accounted for the maximum revenue share in the year 2022. The ability of Direct Thermal (DT) printing technology to produce images without the need for ink or toner is driving the growth of the market. Moreover, Direct Thermal (DT) printing technology provides high print speed and high image resolution, thereby contributing to the growth of the market.

Based on End-User, the retail segment accounted for the largest revenue share in the year 2022. The increasing demand for clear and accurate product labeling and pricing information in the retail industry is driving the growth of thermal printing market. Moreover, the ability of thermal printers to offer quick transaction processing and cost-effective printing solutions for retailers is accelerating the growth of the market.

Based on region, North America accounted for the largest revenue share in the year 2022. The increasing adoption of advanced printing technologies to improve print quality is driving the growth of the market. Moreover, the growing e-commerce industry in North America is driving the demand for thermal printers for efficient printing of barcodes, labels, and receipts, resulting in market growth.

Recent Developments

• In January 2023, Epson America, Inc. launched new M-Series thermal receipt printers called TM-m30III-H, TM-50II, TM-50II-H, and OmniLink TM-m30III, offering versatile connectivity for low volume retail and hospitality environments.
• In August 2020, I.D. Images LLC. upgraded its RevealPrint product by integrating chemical-free, on-demand color direct thermal film label technology called RevealPro, providing resistance to cold, heat, UV light, water and chemicals.

Key Market Highlights

• Globally, thermal printing market is divided based on the printer type into POS printers, barcode printers, kiosk & ticket printers, RFID printers, and card printers.
• In the context of format type, the market is separated into industrial format, desktop format, and mobile format.
• In the context of technology, the market is segregated into Direct Thermal (DT), Thermal Transfer (TT), and Dye Diffusion Thermal Transfer (D2T2).
• Based on end-user, the market is separated into transportation & logistics, retail, healthcare, manufacturing, and others.
• The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
• Asia-Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in the thermal printing market.

List of Major Global Thermal Printing Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• Zebra Technologies Corporation

• Sato Holdings Corporation

• Honeywell International Inc.

• Bioxolon

• Brother International Corporation

• Star Micronics Co., Ltd.

• Toshiba Tec Corporation

• TSC Auto ID Technology Co., Ltd.

• Avery Dennison Corporation

• Xiamen Rongta Technology Co., Ltd.

• Fujitsu

• Dascom

Global Thermal Printing Market Segmentation: 

• By Printer Type

• POS printers
• Barcode printers
• Kiosk & Ticket printers
• RFID printers
• Card Printers

• By Format Type

• Industrial Format
• Desktop Format
• Mobile Format

• By Technology
  • Direct Thermal (DT)
  • Thermal Transfer (TT)
  • Dye Diffusion Thermal Transfer (D2T2)
• By End-User
  • Transportation & Logistics
  • Retail
  • Healthcare
  • Manufacturing
  • Others

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Key Questions Covered in the Thermal Printing Market Report

• What is thermal printing?

- Thermal printing is a digital printing technique used for monochrome or grayscale printing. The technique is used for printing barcodes, labels, and invoices in retail, healthcare, and manufacturing industries.

• What are some of the most important applications of thermal printing and how do they impact the industry's growth potential?

- Thermal printing is used in retail industry for printing barcodes, labels, and invoices. Moreover, the application of thermal printers in healthcare sector to provide medical facilities efficiently is accelerating the market growth. 

• Based on current market trends and future predictions, which geographical region will have the largest impact on the Thermal Printing growth in the coming years?

- North America accounted for the largest revenue share in the year 2022. The technological advancements in the region coupled with the growing e-commerce industry in the region is driving the growth of the regional market. 

• Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

- Asia Pacific is anticipated to register the fastest CAGR growth during the forecast period. The rapid expansion of manufacturing industry in Asia-Pacific region is driving the market growth.

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