NEWARK, Del, Jan. 09, 2024 (GLOBE NEWSWIRE) -- The global thermal printing market will be worth US$ 13.3 billion in 2023. The market is expected to reach US$ 28.4 billion by 2033, expanding at a 7.8% CAGR from 2023 to 2033.
As a consequence of the increasing demand for thermal printers that are resilient and dependable for printing tasks in adverse conditions and at high levels of production, the global thermal printing market is steadily growing. As a result of these factors, the global thermal printing market is expected to expand rapidly from 2023 to 2033.
The integration of thermal printers into the retail industry is one of the key variables driving the market. Many individuals believe that thermal printing is the way of the future. Implementing novice and advanced technology across numerous uses by the printing industry is projected to drive the market in the coming years.
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Thermal printing solutions are reliable and quicker than traditional impact printers and are thus widely used at the point of sale (POS) in retail stores to improve the user experience. Thermal printing solutions are more cost effective than traditional ones, stimulating the global thermal printing market’s growth.
Key Takeaways:
- The thermal printing market is expected to grow at a 5.7% CAGR over the next two decades (2018-2022).
- The United States was projected to account for 17.4% of the market in 2022, according to the report.
- Thermal printers are expected to grow at a CAGR of 9.3% in India over the forecast period.
- Transfer technology was anticipated to account for 46.2% of the market in 2022.
- In 2022, the barcode printers segment had the highest revenue percentage of 40.2% in the global thermal printing market.
“Increased incidence of cardiovascular disease is anticipated to boost the use of thermal printers for capturing live rhythm strips, creating lucrative prospects for market participants throughout the forecast period.” Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
Scope of the Report:
| Report Attribute | Details | |||
| Growth Rate | CAGR of 7.8% from 2023 to 2033 | |||
| Market Value in 2023 | US$ 13.3 billion | |||
| Market Value in 2033 | US$ 28.4 billion | |||
| Base Year for Estimation | 2022 | |||
| Historical Data | 2018 to 2022 | |||
| Forecast Period | 2023 to 2033 | |||
| Quantitative Units | Revenue in US$ billion and CAGR from 2023 to 2033 | |||
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis | |||
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Competitive Landscape:
Top global thermal printing market players are concentrating on partnerships and collaborations with local and regional manufacturers and retailers to strengthen their competitive edges and broaden their global footprints.
- In February 2021, Honeywell International Inc. announced a collaboration agreement with IDEMIA, the global leader in Augmented Identity, to establish and cultivate an intelligent building ecosystem providing a more seamless and excellent experience for users and occupants.
- On January 22, 2020, Epson developed the Color Works C6000 series on-demand label printers as a color upgrade for customers who currently use black-only thermal transfer options.
Restraints:
However, despite the promising growth prospects, the thermal printing market faces certain challenges. The rising concern for environmental sustainability and the push for eco-friendly printing solutions restrain market expansion. Manufacturers are under increasing pressure to develop environmentally conscious thermal printing solutions that align with stringent regulations.
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More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the thermal printing market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights based on printer type (barcode printer, POS printer, kiosk & ticket printer, RFID printer and card printer), printing technology (direct thermal, thermal transfer and dye diffusion thermal transfer), and industry (retail & wholesale, transportation & logistics, healthcare, travel & hospitality, media & entertainment, manufacturing, government, and others) across seven major regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa).
Thermal Printing Market Segmentation:
Printer Type:
- Barcode Printer
- POS Printer
- Kiosk & Ticket Printer
- RFID Printer
- Card Printer
Printing Technology:
- Direct Thermal
- Thermal Transfer
- Dye Diffusion Thermal Transfer
Industry:
- Retail & Wholesale
- Transportation & Logistics
- Healthcare
- Travel & Hospitality
- Media & Entertainment
- Manufacturing
- Government
- Others
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
Authored By:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
Have a Look at the Related Reports of the Technology Domain:
Thermal Printing Industry Analysis in Western Europe: Industry Demand is projected to rise at a CAGR of 6.5% through 2033. Sales are projected to surpass US$ 5,027.7 million by 2033.
Thermal Printing Industry Analysis in Japan: Demand is increasing in various industries, such as shipping, packaging, and transportation, due to its fast, efficient, and portable printing method. Sales are anticipated to reach a value of US$ 1,210.7 million by 2033.
Micro Printing Market Size: The Micro Printing Market revenue totaled US$ 595.8 Million in 2021 and is estimated to reach US$ 1,459.2 Million by 2032, growing at a CAGR of 8.6% for 2022 – 2032.
Thermal & Inkjet Disc Printers Market Share: The market is expected to reach US$ 632.8 million by 2033, declining at a CAGR of –6.1% in the forecast period from 2023 to 2033.
3D Printing Market Analysis: The global 3D printing market is likely to grow with an impressive CAGR of 21% from 2023 to 2033. This market share is expected to value at about US$ 186.4 billion by 2033 end.
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