PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514973
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514973
Thermal Printer Market size was valued at USD 14,541.2 Million in 2023, expanding at a CAGR of 5.00% from 2024 to 2032.
With its high print quality, thermal printers have grown in popularity. They are mostly utilized in the retail, airline, entertainment, banking, supermarket, and healthcare sectors. Thermal printers use heat to produce images on paper. Furthermore, in order to produce high-quality images, thermal printing mostly relies on thermal paper rather than ink or toner. Furthermore, papers produced with thermal printing are easily recyclable due to the short chemical coating life of these papers. Thermal printers are easy to use, long-lasting, and lightweight. Printing bills, lottery tickets, receipts, and other labels are among the uses for it throughout sectors.
Thermal Printer Market- Market Dynamics
Rising Adoption in the Healthcare Sector to Propel Market Growth
One of the key factors propelling the thermal printing market's expansion is the healthcare sector. The technology is frequently utilized in the healthcare sector for many different purposes, such as printing medical records, labeling prescription drugs, identifying patients, and labeling specimens. The growing need for precise and dependable patient identification is one of the main reasons propelling the expansion of thermal printing in the medical field. For patient identification needs, thermal printing technology produces strong, long-lasting labels that are impervious to moisture, fading, and smudge. Patient safety is enhanced, and errors are decreased, both of which are vital concerns in the healthcare sector. In addition, prescription labeling is another crucial use in the healthcare sector, and it makes considerable use of thermal printing. To make sure patients receive the right medication and dosage, prescription containers must have accurate and readable labeling. Thermal printing is a great option for prescription labeling since it can print at high resolutions with text that is clear and sharp. Specimen labeling is another common usage of thermal printing in the healthcare sector. Sustaining patient safety and guaranteeing precise testing and diagnosis depend on correct specimen labeling. Thermal printing technology produces strong, long-lasting labels that are impervious to dampness, fading, and smudging, which makes them perfect for labeling specimens.
Thermal Printer Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.00% over the forecast period (2024-2032)
Based on printer type segmentation, the barcode category was predicted to show maximum market share in the year 2023
Based on format type segmentation, the mobile category was the leading type in 2023
Based on printing technology, the DT category was the leading type in 2023
Based on industry vertical segmentation, the healthcare category was the leading type in 2023
On the basis of region, Asia Pacific was the leading revenue generator in 2023
The Global Thermal Printer Market is segmented on the basis of Offering, Printer Type, Format Type, Printing Technology, Industry Vertical, and Region.
The market is divided into the following categories based on printer type: Barcode, POS, Kiosk and Ticket, RFID, and Card. The barcode category dominates the market. Barcodes help business owners with inventory control, cost reduction, shipping error prevention, and customer service improvement. A barcode printer is an add-on for computers that prints labels or tags with barcodes that can be printed on or attached to actual things. Labeling shipping containers and printing UPC or EAN codes on retail goods are common uses for barcode printers. Investing in a barcode label printer can boost return on investment and open up new business options for any size company. Because many firms around the world have automated and streamlined their manufacturing processes to cut waste and increase output efficiency, the use of barcodes has increased dramatically.
The market is divided into the following categories based on industry vertical: Retail, Government,Transportation and Logistics, Healthcare, Industrial, Hospitality, and Others. The healthcare category dominates the market and is likely to maintain its dominance during the forecast period. Throughout the forecast period, significant growth is anticipated in the thermal printer market for healthcare applications. When smart labels are widely used, it will be easier to monitor people and medical equipment-especially during emergencies rapidly. Furthermore, thermal printers are frequently utilized to print tags and labels that support various healthcare application procedures and improve patient productivity, bed usage, and asset distribution.
Thermal Printer Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Throughout the forecast period, Asia Pacific is anticipated to hold the greatest share of the global market for thermal printers. Asia-Pacific is a region that is quickly industrializing and experiencing strong economic expansion. The need for thermal printers is rising as a result of the growth and development of numerous industries. China and India are the main drivers of economic growth in the Asia-Pacific region. These two highly populated nations are going through significant industrialization and economic change. Additionally, low-cost internet data plans and affordable smartphone models have signaled the expansion of the Asia-Pacific e-commerce market. Local e-commerce behemoths like Flipkart and Alibaba have emerged as a result, and international corporations like Amazon Inc. are expanding quickly throughout the area. One of the main reasons for the rising demand for thermal printers in Asia-Pacific is the need for barcoded labels for labeling and tracking applications in e-commerce operations.
In addition, the thermal printer market is anticipated to expand at the fastest rate in the world during the projected period in North America. It is anticipated that North America's expanding financial resources, urbanization, and industrialization will drive the thermal printing market. In North America, a lot of stores have switched from impact printers to more modern thermal-only models. Businesses are paying increasing attention to reducing costs associated with printing, environmental impact, and printer maintenance, among other things. In addition, the presence of major companies like Honeywell in the area benefits the retail, transportation, and logistics industries, all of which are expected to drive the expansion of the thermal printer market in this area. Moreover, manufacturing and industrial, retail, logistics and transportation, healthcare, and hospitality are the main industries in the area that use thermal printers.
Leading market players should focus more on regular product launches and technological advancements as their primary means of keeping up with the rapidly shifting consumer demands. In response to the growing demand from the manufacturing, retail, and healthcare sectors, companies like Fujitsu Ltd., Brother Industries Ltd., SATO HOLDINGS CORPORATION, TSC Auto ID Technology Co., Ltd., and Zebra Technologies Inc., among others, have introduced a new model of the desktop thermal printer. By just scanning the labels, consumers can obtain product-related information through the use of thermal printing, which can supplant traditional forms of advertising.
June 2022: Following the release of its fixed industrial scanning and machine vision portfolio, Zebra Technologies Corporation has announced the acquisition of Matrox Electronic Systems Ltd., a developer of cutting-edge machine vision systems, software, and components. This acquisition will increase Zebra's offerings in the rapidly expanding automation and vision technology solution space.
December 2021: At the Eros Hotel in Nehru Place, Delhi, Honeywell introduced a 4-inch desktop printer for small and medium-sized enterprises. Launched as part of Honeywell's "Make in India" effort, the Impact series barcode printer is a market leader in the AIDC sector. The new introduction is a 4-inch desktop barcode printer that is specifically made for light-duty label printing needs.
GLOBAL THERMAL PRINTER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Fujitsu Ltd.
Brother Industries Ltd.
Seiko Epson Corporation
SATO HOLDINGS CORPORATION
Bixolon EU
TSC Auto ID Technology Co., Ltd.
Toshiba Corporation
Zebra Technologies Corporation
Star Micronics Co., Ltd.
Honeywell International Inc.
Others