Thermal Printing Market Insights
The global thermal printing market is anticipated to grow at a CAGR of 6.4% over the forecast period. This market is expected to be influenced by increased emphasis on product safety and anti-counterfeiting. The growing use of thermal printers in printing applications coupled with rising expansion of wireless technology such as Bluetooth, WLAN and Wi-Fi are anticipated to foster demand in mobile applications over the coming years.
Thermal printing can be defined as a digital printing process in which printed images are produced by selective heating of thermochromic papers. Advantages such as low maintenance cost and ease of printing are likely to contribute towards consumption of the product in a wide range of applications.
Thermal Printing Market: Printing Technology/ Offerings Insights
The global thermal printing market is divided into DT, TT, and D2T2, based on printing technology. On the basis of offering, the global thermal printing market is segmented into printer and supplies. The supplies’ segment is expected to occupy the highest market share over the forecast period due to its growing application in the market.
Thermal Printing Market: Printer Type/ Format Type Insights
The global thermal printing market is segregated into Barcode, POS, Kiosk & Ticket, and RFID & Card, based on printer type.
The market for Barcode printers is anticipated to dominate the market by 2025 due to its high demand by businesses to label and track the products to be shipped. The application of barcode printers increases efficiency and profit margins of businesses in the retail sector by lowering their costs.
The global thermal printing market is divided into Industrial format printers, Desktop Format printers and Mobile format printers, based on format type.
The mobile format printers are likely to witness a significant growth rate over the years owing to its light weight, durability and rich print quality. Factors such as spot printing along with ease of connection to wireless networks; are anticipated to foster the market growth over the coming years.
Thermal Printing Market: Application Insights
The global thermal printing market is divided into Manufacturing & Industrial, Retail, Transportation & Logistics, Healthcare & Hospitality, and Government, based on applications.
In 2016, the retail sector occupied the largest market share.
The healthcare & hospitality segment are also anticipated to experience a shift towards the use of the thermal printing over the forecast period due to the growing use of thermal papers.
Thermal Printing Market: Regional Insights
The market in North America accounted for the largest revenue share in 2016 and is further anticipated to grow at a significant rate over the forecast period. The regional growth is attributed to the increased application of thermal printing in transportation & logistics, warehousing, and packaging among others.
Asia Pacific and Europe are also expected to experience an exponential growth rate over the forecast period. The increasing demand for these printers from countries such as China, Malaysia and India are anticipated to stimulate market growth over the coming years.
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