Thermal Printing Market Size & Analysis - Forecasts To 2025 By Printing Technology (DT, TT, D2T2), By Offering (Printer, Supplies), By Printer Type (Barcode Printers, POS Printers, Kiosk & Ticket Printers, and Card Printers), By Format Type (Industrial, Desktop, Mobile), By Application (Manufacturing & Industrial, Retail, Transportation & Logistics, Healthcare & Hospitality, Government), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) End-Use Landscape, and Market Share & Competitor Analysis - Global Market Estimates
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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The global thermal printing market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the thermal printing market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies, and customer analytics.
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