Thermal Printing Market Size
Thermal Printing Market size exceeded USD 30 billion in 2019 and is poised to grow at 7% CAGR between 2020 and 2026. Increasing adoption of Automatic Identification & Data Capture (AIDC) technologies across several industry verticals for accurate data recognition, collection, and storage will drive the market growth.
Thermal printing is a technology that facilitates fast & precise printing of identification labels or receipts. The need to improve productivity, reduce paperwork, and ensure accurate data collection & transfer has increased the demand for thermal printing in AIDC technologies. Thermal printing technology is mainly used in AIDC due to its high reliability, speed, accuracy, and quality in printing barcodes. Benefits such as compact size and strong durability compared to other of printers, such as inkjet and dot matrix, has resulted in the increased adoption of thermal printers among several industrial verticals.
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Governments are taking action to help industries grow, which is great news for companies that make thermal printers. One example is the G20's plan to help countries in Africa and other less developed regions become more industrialized. This plan aims to fight poverty and make the economy more sustainable, leading to growth in industries like retail, shipping, and manufacturing. These businesses need to print labels quickly so they can get their products to customers faster and make more money. Thermal printing has become popular in factories because it can create images that last and can withstand harsh weather conditions. It can also make clear, smear-proof images, which is important for keeping products safe and preventing fraud.
Thermal Printing Market Report Attributes
| Report Attribute |
Details |
| Base Year |
2019 |
| Thermal Printing Market Size in 2019 |
USD 30 Billion |
| Forecast Period |
2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR |
7% |
| 2026 Value Projection |
USD 50 Billion |
| Historical Data for |
2016 to 2019 |
| No. of Pages |
300 |
| Tables, Charts & Figures |
906 |
| Segments covered |
Offering, Product, Type, Technology, Application and Region |
| Growth Drivers |
- Growing adoption of AIDC for improving productivity globall
- 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 electronics industry for anti-counterfeiting and product safety in Asia Pacific
- UIDAI initiative in India
- Growing demand for thermal printing in retail applications in the Latin America and MEA
|
| Pitfalls & Challenges |
- Stringent printing regulations
- Rising popularity of RFID labels
|
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Thermal printing market growth will witness a temporary slowdown in 2020. This can be attributed to the drop in global economic growth and temporary closure of several industries during the initial phase of imposed lockdowns globally. The closure of manufacturing facilities and disruption in the supply chain for e-commerce retailers will negatively impact the market growth. In addition, the pandemic has impacted the production capabilities of market players due to labor shortage, resulting in declined sales of thermal printing solutions.
Thermal Printing Market Analysis
Thermal printing supplies and consumables accounted for over 65% industry share. High-quality supplies are crucial to ensure enhanced print quality and reduced wear & tear in printer. Inferior quality thermal ribbons can damage printheads and increase maintenance costs. This has led to the usage of high-quality wax or resin ribbons to ensure improved print quality and durability for withstanding high temperatures or chemical exposures. Different types of labels, such as paper or synthetic, are chosen depending on the requirements. Lower grade receipt papers inserted into thermal printers can hamper the functioning as well as reduce the print readability.
In the U.S. thermal printing market, barcode printer segment is estimated to register growth of around 9% through 2026. Accurate data entry plays a vital role in the operational efficiency of a business. In fast-paced industrial environments, barcoding enables consistent & predictable operations for enhanced productivity by combining several data management functions. Employing standardized barcode compliance labeling & symbology guarantees that the captured barcode data is communicated in a universally understood and accepted manner. Companies are focusing on providing robust barcode printing solutions to cater to the growing demand from industries.
In 2019, portable printers for printing on the go made up about a quarter of all printers sold worldwide. These handy machines make it easy to print documents, labels, and tickets on the spot, from barcodes to RFID tags. The fact that they're so easy to carry around is opening up new ways for businesses to improve how their employees work. For example, mobile printers can help workers be more productive, make sure labels are accurate, and respond quickly to customer needs. These printers are durable, easy to use, and lightweight, and can be used with computers that can be mounted, held in your hand, or even worn on your body. Mobile printers can connect to wireless networks so they can get information like label designs, print jobs, and other stuff from handheld devices or computers. The growing use of wireless technologies like Bluetooth and NFC is going to make the mobile printer market even bigger in the future.
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The advent of digitalization in the healthcare sector will fuel the market growth. Several healthcare organizations in China are focusing on providing optimal care that facilitates fast collaboration and communication with staff members. Companies are providing healthcare solutions that connect patient records to medical providers for fast & efficient operations. Barcode, RFID, and other auto ID technologies are being used for accurate identification, enhancing patients' safety and satisfaction. The hospitality sector is also using printer for fast event ticketing and wristband printing for easy & safe check-ins.
Thermal transfer printing incorporates a heated ribbon to produce durable images on a wide range of materials. The printed image is resistant to heat and moisture, making the labels highly durable. Thermal transfer printing produces consistent, high-definition, and reliable printing as the density and color of the printed image are determined by the ribbon and printer resolution. Also, the long-term maintenance cost of thermal transfer printer is low compared to ink jet, dot matrix, and laser printing, influencing its adoption in the market.
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Europe's thermal printing industry is set to grow rapidly over the next few years. This is largely thanks to the booming packaged food industry in countries like the UK, France, and Spain. In the UK alone, food and drink exports were worth a whopping USD 25 billion in 2018, giving the economy a major boost. As a result, there's a huge demand for printers that can produce high-quality, easy-to-read labels for food products. These labels are more than just decoration. They also play a vital role in food safety. With barcode labels, it's easy to identify and discard spoiled or expired food, saving both time and money. They can also help prevent potential lawsuits.
Thermal Printing Market Share
Major players operating in the industry include
- Brother Industries Ltd.
- Bixolon
- Honeywell International, Inc.
- Fujitsu Ltd.
- Sato Holdings Corporation
- Seiko Epson Corporation
- Star Micronics Co. Ltd.
- Toshiba Corporation
- TSC Auto ID Technology Co. Ltd.
- Avery Dennison Inc.
- Wasp Barcode Technologies
- Zebra Technologies Corp.
- NCR Corporation
The key companies are focusing on launching new solutions to strengthen their industry position. In April 2019, Fujitsu Limited introduced new two and three-inch thermal printing mechanisms with improved printing speeds. In March 2020, Brother Industries introduced an industrial thermal printer developed specifically for the automatic packaging industry.
The thermal printing market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 for the following segments
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Market, By Offering
- Printer
- Supplies & consumables
Market, By Product
- Industrial
- Desktop
- Mobile
Market, By Type
- Barcode printer
- Card printer
- Kiosk & ticket printer
- POS printer
- RFID printer
- Others
Market, By Technology
- Direct Thermal (DT)
- Thermal Transfer (TT)
- Dye Diffusion Thermal Transfer (D2T2)
Market, By Application
- Entertainment & hospitality
- Government
- Healthcare
- Manufacturing
- Retail
- Transportation & logistics
- Others
The above information has been provided for the following regions and countries
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Taiwan
- South Korea
- Australia & New Zealand (ANZ)
- Latin America
- MEA
- Saudi Arabia
- UAE
- South Africa
