The global thermal printing market is estimated to be valued
at US$45.60 billion in 2022 and is expected to exhibit a CAGR of 4.5% over the
forecast period of 2023 to 2030, according to a new report published by
Coherent Market Insights.
Market Overview:
Thermal printing technology involves the application of heat to produce images
and text on thermal paper or labels. It offers numerous advantages such as
high-speed printing, low maintenance, and low cost per print. Thermal printing
finds widespread applications in various industries, including retail,
transportation and logistics, healthcare, and manufacturing. The growing need
for efficient and reliable printing solutions, especially in the retail sector,
is the key driving factor for the market.
Market key trends:
One key trend shaping the thermal printing market is the increasing adoption of
mobile thermal printers. With the growing use of mobile devices, there is a
rising demand for portable printing solutions. Mobile thermal printers provide
the convenience of on-demand printing in various applications such as field
service, ticketing, and mobile point-of-sale (POS) systems. These printers
offer wireless connectivity options and compact designs, enabling easy
integration with smartphones and tablets. The ability to print receipts,
labels, and tickets anytime and anywhere is driving the demand for mobile
thermal printers in various industries.
Segment Analysis:
The thermal printing market can be segmented based on technology, printer type,
application, and end-use industry. In terms of technology, direct thermal
printing dominates the market due to its simplicity, cost-effectiveness, and
suitability for applications that require short-term labeling and barcode
printing. This segment is expected to continue its dominance over the forecast
period.
Among printer types, desktop printers have a significant market share as they
are widely used in small and medium-sized enterprises for printing labels,
receipts, and tickets. This can be attributed to their compact size, ease of
use, and affordability. However, mobile printers are projected to register the
highest growth rate due to the increasing adoption of mobile devices and the
need for on-the-go printing solutions.
In terms of applications, retail and logistics account for the largest market
share. Thermal printers are extensively used in these sectors for printing
barcode labels, price tags, shipping labels, and receipts. The e-commerce
industry is also witnessing significant demand for thermal printers due to the
growing trend of online shopping.
Key Takeaways:
The
global
thermal printing market is expected to witness high growth, exhibiting
a CAGR of 4.5% over the forecast period. This growth can be attributed to
several factors. Firstly, the increasing adoption of thermal printing
technology in various industries such as retail, healthcare, transportation,
and hospitality is driving market growth. Moreover, the rise of e-commerce and
the need for efficient printing solutions for tracking and labeling products is
further fueling market demand.
From a regional perspective, North America dominates the thermal printing
market due to the presence of major players and the high adoption of thermal
printers across various industries. The region is witnessing a growing demand
for mobile printers, especially in the transportation and logistics sector.
Asia Pacific is expected to register the highest growth rate, primarily driven
by the rapidly expanding retail sector and increasing investments in
infrastructure development.
Key players operating in the thermal printing market include 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. These
companies are focusing on product innovations, strategic partnerships, and
mergers and acquisitions to strengthen their market position and cater to the
evolving customer requirements.
Read More:
https://www.ukwebwire.com/thermal-printing-market-growing-demand-for-label-and-tag-printing-drives-market-growth/
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