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Rising utilization of automatic identification and data capture technologies for improving productivity drives market growth
The thermal printing market is expected to grow at a CAGR of 4.4% from 2020 to 2025, to reach USD 53.5 billion by 2025 from USD 43.2 billion in 2020. The rising utilization of automatic identification and data capture technologies for improving productivity is one of the key driving factors for the thermal printing market growth. However, the stringent printing regulations and poor image quality of barcode labels are a few of the factors hindering the growth of the thermal printing market.
Retail application to dominate thermal printing market, in terms of size, during the forecast period
The thermal printing market for retail applications is expected to hold a dominant position during the forecast period. There is a significant demand for thermal printers in the retail sector. One of the critical factors for this high demand is the need for maintaining data by tracking inventory through barcode and RFID tags. Thermal printers are used to print these tags at significantly low costs. Also, these printers print rugged and reliable labels, which can withstand all challenging conditions such as abrasion, moisture, and extreme temperatures. Moreover, the inclination of the companies toward retailing and the growth potential of the e-commerce business is further expected to fuel the thermal printing market.
Barcode printers segment to hold the largest share of thermal printer market and witness significant growth from 2020 to 2025
In terms of market size, the barcode printers are expected to dominate the thermal printer market during the forecast period and is likely to witness significant growth in the said market from 2020 to 2025. Thermal barcode printers are extensively used in small, medium, and large businesses to label and subsequently track the products to be shipped. This is one of the significant factors that has led to the leading position of barcode printers in the thermal printer market.
APAC to witness the highest growth in the market during the forecast period
APAC is expected to witness the highest growth in the thermal printing market during the forecast period. China, Japan, and Australia are a few major countries that accelerate the growth of the thermal printing market in APAC. Healthcare & hospitality, and transportation & logistics applications are expected to demonstrate a higher increase compared with other applications in the region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key officials in the thermal printing market. Following is the breakup of the profiles of primary participants for the report.
- By Company Type: Tier 1 – 35 %, Tier 2 – 45%, and Tier 3 – 20%
- By Designation: C-Level Executives – 35%, Managers – 25%, and Others – 40%
- By Region: Americas – 45%, Europe – 20%, APAC – 30%, and RoW – 5%
The report profiles key players in the thermal printing market and analyzes their market rankings. Players profiled in this report are Zebra Technologies (US), SATO Holdings (Japan), Seiko Epson (Japan), Fujitsu (Japan), Star Micronics (Japan), BIXOLON (South Korea), Honeywell International (US), Brother Industries (Japan), Toshiba TEC (Japan), TSC Auto ID Technology (Taiwan), NCR Corporation (US), Avery Dennison (US), Citizen Systems (Japan), JADAK (US), Rongta Technology (Xiamen) Group (China), ProMach (US), CognitiveTPG (US), Shinmei (Japan), Seiko Instruments (Japan), and Axiohm (France)
This report segments the thermal printing market by offering, application, and geography; and thermal printer market by printer type, format type, and printing technology. It also describes major drivers, restraints, challenges, and opportunities about this market, as well as includes the value chain and market ranking analysis.
Reasons To Buy This Report
The report will help leaders/new entrants in the thermal printing market in the following ways:
- The report segments the thermal printing market comprehensively and provides the closest market size estimation for all subsegments across regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities about the thermal printing market.
- The report will help stakeholders understand their competitors better and gain insights to improve their position in the thermal printing market. The competitive landscape section describes the competitor ecosystem.