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Thermal Printing Market Growing Demand is Expected to Expand Significantly USD 54 billion by 2028 
The report mentions the potential segment anticipated to exhibit exceptional growth during the forecast period.
NEWARK, UNITED STATES, November 14, 2022 /EINPresswire.com/ — As per the report published by Fior Markets, the global thermal printing market is expected to grow from USD 35.5 billion in 2020 to reach USD 54 billion by 2028, at a CAGR of 5.4% during the forecast period 2021-2028.
The global thermal printing market is witnessing a significant growth from the past years. This growth is attributed to the advanced technology, printing tags and labels that are compatible with many healthcare applications processes help improve patient flow, bed utilization, and asset allocation. Furthermore, the use of smart labels helps in the instant tracking of patients and medical equipment, especially in emergencies, which is paving the way for thermal printers in the healthcare sector. In addition, increasing acceptance of automatic identification and data capture technologies to enhance productivity. Also, the adoption of RFID printers and contributing to the growth of the thermal printing market.
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A thermal printer refers to the printer that uses heat to produce the image on paper. Thermal printer is has become popular in airline, banking, retail, grocery and healthcare due to its quality of the speed, print, and technological advances. A thermal printer does not use toner or ink as other printer does. They are also popular in creating labels because of their speed of printing. Thermal printers have advantages over other printers such as Easier to use as there are fewer buttons and use of software involved, Popular in noise-free environments and are great for offices, largely inexpensive and come in various models and sizes, more efficient and faster in printing monochromic ones compared to other forms of printing and more durable compared to other printers. Thermal printers work in two ways, and older models use models heat sensitive paper by placing in roll in a container inside the machine. The heat built up in the device reacts with heat-sensitive paper, and the transfer of pigments occurs on the sheet. For newer machines, ribbon printer cartridges are used, there is wax material stored inside, paper is fed through the slot located between print heat and roller, and heat waxy substance gets melt and sticks onto the paper.
The global thermal printing market is expected to witness significant growth owing to the increasing humanization, growing adoption of AIDC for improving productivity worldwide, Need for RFID and barcode printers from e-commerce, transportation & logistics industries, Implementation of thermal printing in healthcare applications in North America & Europe, Demand for high-quality printing in the electronics industry for anti-counterfeiting and product safety in the Asia Pacific, UIDAI initiative in India. The factors restraining the growth of the market are stringent printing rules and regulations.
Key players operating in global thermal printing market are Bixolon, Honeywell International, Inc., Fujitsu Ltd., Sato Holdings Corporation, Brother Industries Ltd., Seiko Epson Corporation, Toshiba Corporation, TSC Auto ID Technology Co. Ltd., Avery Dennison Inc., Wasp Barcode Technologies, Star Micronics Co. Ltd., Zebra Technologies Corp., and NCR Corporation. To gain a significant market share in the global thermal printing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
Fujitsu Limited introduced two and three-inch thermal printing mechanisms with improved printing speeds in April 2019
Toshiba America Business Solutions launched its premium thermal barcode printer in September 2019, delivering high-resolution labels with precision and speed. Toshiba’s B-EX4T3HS prints 600 dots per inch at a rate of six inches per second and can print labels as small as 0.51 inches wide by 0.12 inches high.
TSC Auto ID Technology announced the acquisition of personified Labeling Solutions, Inc. in January 2019, one of the leading labeling solutions providers. Under this acquisition, DLS will remain a separate entity, retain its name and brand, and maintain all of its current employees and executive leadership
Supplies segment dominated the market and held the largest market share of 62.1% in the year 2020
On the basis of offering the global thermal printing market is segmented into supplies and printers. Supplies segment dominated the market and held the largest market share or 62.1% in the year 2020. This growth is attributed to the high print quality and reduced wear & tear in printer.
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Barcode printers segment dominated the market and held the largest market share of 34.3% in the year 2020
On the basis of printing type, the global thermal printing market is segmented into POS printer, Kiosk & Ticket Printers, RFID printers, Card printers, Barcode printers. Barcode printers segment dominated the market and held the largest market share of 34.3% in the year 2020. This growth is attributed to the improved asset management and inventory, data precision, and consistency.
Mobile format segment dominated the market and held the largest market share of 49.1% in the year 2020
On the basis of format type, the global thermal printing market is segmented into Desktop format, Mobile format, Industrial format. Mobile format segment dominated the market and held the largest market share of 49.1% in the year 2020. This growth is attributed to the Durability, easy to use, and lightweight.
Thermal Transfer (TT) segment dominated the market and held the largest market share of 63.5% in the year 2020
On the basis of printing technology, the global thermal printing market is segmented into Direct Thermal (DT), Thermal Transfer (TT), Dye Diffusion Thermal Transfer (D2T2). Thermal Transfer (TT) segment dominated the market and held the largest market share of 63.5% in the year 2020. This growth is attributed to the production of durable images on a wide range of materials.
Healthcare and Hospitality segment dominated the market and held the largest market share of 48.7% in the year 2020
On the basis of application, the global thermal printing market is segmented into Retail, Transportation & Logistics, Manufacturing & Industrial, Healthcare & Hospitality, Government, Others. Healthcare and Hospitality segment dominated the market and held the largest market share of 48.7% in the year 2020. This growth is attributed to the digitalization in the healthcare sector.
Regional Segment of Thermal printing Market
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global thermal printing market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region holds the largest market share of 34.7% in the year 2020. This growth is ascertained by the U.S. in the North America region owing to the presence of the key players in this region.
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About the report:
The global thermal printing market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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