Thermal Printing Market

2021 Analysis and Review: Thermal Printing Market by Printer Type – Barcode Printer, POS Printer, Kiosk & Ticket Printer, RFID Printer, and Card Printer for 2021 - 2031

About the Report

The global thermal printing market is witnessing rapid growth, owing to increasing demand for thermal printers that are durable and reliable for printing tasks in tough environments, and for a large production volume. Due to these factors, the global thermal printing market is expected to witness an impressive growth during the forecast period of 2021-2031. The inclusion of thermal printers in retail industry is one of the major factors driving the market. Thermal printing is touted as the future of commerce by many.

Future Market Insight’s new study covers comprehensive insights into the market trends, value (US$ Bn) projections, recent developments, and dynamics in the global thermal printing market for the forecast period of 2021-2031. The report tracks the global value of thermal printing in 10+ high-growth markets, with the regions of South Asia & Pacific, Middles East, and Latin America offering the most profitable opportunities to stakeholders. The report also analyzes the impact COVID-19 has had on the economy in general, and thermal printing in particular.

How the Historical & Future Projections for Thermal Printing Market Compare?

From 2016 to 2020, the market for thermal printing registered a CAGR of 5.8%. Surge in adoption of novice and advanced technologies across various applications within the printing industry is likely to drive the market over the coming years.

Increasing utilization of data capture technologies and automatic identification for enhancing productivity, increasing use of thermal printing technology in latest on-demand printing applications, increasing concerns regarding product safety and anti-counterfeiting, growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry, and rising penetration of wireless technologies in mobile printers are emerging as key driving factors for the global thermal printing market.

Moreover, thermal printing is seen as a trending technology in developed economies such as Germany, the U.S., China, and so on. Overall, the global market for thermal printing is projected to fare even better over the coming years, expanding at a remarkable CAGR of over 7.1% through 2031.

How is Demand for High Speed & Cost-effective Printing Solutions Affecting Thermal Printing Sales?

Thermal printing solutions offer superior and high-speed printing solutions as compared to conventional impact printers, and thus, are widely used at POS in retail stores to enhance customer experiences. Cost-effectiveness of thermal printing solutions as compared to conventional printing solutions is further boosting growth of the global thermal printing market worldwide. Emerging economies around the globe, such as India, China, Brazil, and Mexico that are undergoing rapid economic growth and industrialization are expected to emerge as profitable markets for providers of thermal printing products. These countries are becoming manufacturing hubs for various products, and manufacturers in these countries focus on modernizing infrastructures for optimum production.

Demand from Healthcare and Transportation Industries Propelling Growth

As a result of widespread commoditization, thermal printer vendors are diversifying their product portfolios and providing value-added products to consumers. Key thermal printing solution providers are focusing on RFID (Radio-frequency identification) technology to cater to the rapidly increasing demand for RFID-printed labels in the supply chains of the retail, healthcare, and transportation industries.

Thermal printers are widely used for printing labels and tags that are compatible with various processes in the healthcare application and help to improve patient flow, bed utilization, and asset allocation. Furthermore, the use of smart labels helps in the instant tracking of patients and medical equipment, especially in emergencies, is paving way for thermal printers in healthcare sector.

In addition, increasing acceptance of automatic identification and data capture technologies to enhance productivity is also one of the key factors driving the adoption of RFID printers, and contributing to growth of the thermal printing market.

Changing Consumer Interest and Environmental Concerns Restraining Growth

Currently, thermal printing technology is considered superior to ink or laser-based printing for various applications. RFID is a becoming popular as a widely adopted technology, with no available substitutes. In addition to this, thermal printing has no near-term threat, but in the coming years, the number of technologies competing with thermal printing is likely to increase. RFID, electronic shelf labels, direct-part marking, and mobile barcoding will pose technological threats to barcode thermal printing.

Apart from this, thermal printers produce waste in the form of used ribbons, which are highly harmful for the environment, and their disposal is of serious concern for thermal printer manufacturers, especially in industrial applications where thermal ribbons are consumed in high volumes with rising environmental concerns. However, most of the thermal printer manufacturers are now focusing on environment friendly products so as to meet customer needs and comply with regulations set by the Environmental Protection Agencies.

How has COVID-19 Pandemic Affected the Thermal Printing Vendors?

The COVID19 crisis has adversely impacted almost all sectors globally, with disrupted supply chains, country-wide lockdowns and organizations exploring the possibility of long-term and even permanent remote working. The impact of Covid-19 on the print industry is complicated and multi-faceted, and many companies are still implementing changes to accommodate its effects.

Almost every single industry worldwide has been impacted one way or another by the global pandemic and the print industry is no different. This impact is reflected in the major trends of the year. These trends include a wider adoption of the work-from-home model which dramatically impacted the office printing space, larger printers struggling to make profits while smaller printers are growing, and the beginnings of implementing new innovative technology across the printing space.

As industries begin recovery, thermal print OEMs and consumable suppliers will face a combination of new and familiar challenges. The ongoing trend to consolidation and vertical integration in thermal print supply, and in the label segment especially, will continue in the medium term. In mature economies, thermal print is nearing volume saturation in major applications.

Country-wise Analysis

What is Driving Thermal Printing Demand in the U.S.?

Until 2020, thermal printing sales across the United States noted a Y-o-Y growth of over 4.4% to reach close to US$ 1.9 Bn. The market is set to further expand at a positive rate through 2031. The thermal printing market in the United States is expected to be driven by the growing industrialization, urbanization and increasing disposal income of the people.

Moreover, the United States is viewed as a productive market for thermal printing systems, as several companies offering thermal printers and supplies have their presence in the country, in order to capture a large set of customers, hence, allowing them to achieve economies of scale. This further adds to the growth of the market in the US.

Why is India Considered an Attractive Thermal Printing Landscape?

India thermal printer market is expected to grow at a noteworthy CAGR during the forecast period. Factors such as growing demand from various end user industries, adoption of new technologies, among others are expected to drive the Indian thermal printer market during forecast period. Additionally, associated advantages such as low cost, durability, printing speed, among others are further anticipated to further boost the market growth over the coming years.

In addition to this, its increasing usage in healthcare industries and retail industry due to their expansion can raise the market for thermal printing. Thermal printing solutions offer superior and high-speed printing solutions as compared to conventional impact printers, and thus, are widely used at POS in retail stores to enhance customer experiences. Cost-effectiveness of thermal printing solutions as compared to conventional printing solutions is further boosting growth of the thermal printing market in India.

How is China Contributing towards the Growth of Thermal printing Market?

With the advent of super technologies such as the world’s fastest trains, 5G and aerospace technologies, many today have developed a more positive attitude towards technological advancements. Although, China possess plenty of cheap, low-quality products to be found - but China-made goods are becoming identified with efficient manufacturing, high quality and reliability.

Driven by the need for digital information and a security strategy, most companies and institutions in China have started to replace their traditional office equipment with local products instead of the big global brands we are all familiar with. It is expected a large proportion of domestic printers and printing consumables will replace the traditional brands in the future.

Moreover, Chinese manufacturers are also focusing upon printers for special use. These include blueprint printers, label printers, and UV flatbed printers. As more and more Chinese players enter the printer market, Chinese OEMs will grow and play an important role not only in the domestic market but also the global market.

How Lucrative is Thermal Printing Market Scenario in Brazil?

Brazilian label printers and converters are more sophisticated than most emerging markets, and they continue to invest in the latest technology to ensure they can supply the global and local end users with quality products and services. With the increasing middle class population, and diverse retail ecosystem like Brazil’s huge market, offer rewarding opportunities. Although, Brazil may have few political and economic challenges like that of high fiscal deficits, yet the market outlook still remains confident. Moreover, rising competition between the local and international players is estimated to provide further impetus to the growth in the thermal printing market in Brazil.

For instance, in February 2020, Avery Dennison, global manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products, announced the location of its next RFID manufacturing facility, first in Brazil and fifth in the world. The new facility in Brazil will manufacture a wide variety of inlay designs. Avery Dennison partners with Impinj and NXP to develop RFID tags and incorporates the latest chip technology into its products.

Category-wise Insights

Why is there Huge Demand for Mobile and Portable Printers?

The most interesting of all recent innovations in the thermal printing industry is the introduction of portable thermal printers. Direct thermal print heads are the smallest and lightest available thermal printers. Also, portable thermal printer manufacturers need a substantial reduction in energy consumption, additional size, and weight reduction, along with lower voltage operation, in order to increase market penetration.

Integration of wireless technologies in thermal printers is expected to further boost the adoption of portable thermal printers for high quality and fast printing.

Retail & Wholesale Industry to Account for Maximum Sales

There is a shift in consumers’ purchasing patterns, with people more inclined towards online payments. For retailers to achieve this, they are focusing on enhancing POS and shopping experience through various means, including the adoption of prompt and effective thermal printing technology.

Thermal printers are rapidly replacing impact multipart page printers for a number of field-based applications, ranging from invoices, work orders, to payment receipts, due to their low maintenance costs, relative ease of use, and less expensive consumables as compared to the latter.

RFID Printer to Witness Growth at Higher Pace

RFID thermal printers are in the early stage of adoption, especially in developed economies such as North America, Europe, and South Asia & Pacific. For widespread commoditization, thermal printer vendors are diversifying their product portfolios and providing value-added products to consumers. A step ahead in this, key thermal printer manufacturers have been focusing on RFID for future growth. The healthcare and retail sectors are key growth areas for the RFID printers market. Desktop thermal printers are very compact and inexpensive, and thus, their implementation on the nursing floor is relatively easy.

Why is Thermal Transfer Printing Technology Gaining Momentum?

Thermal transfer technology finds wide application in the healthcare industry, as thermal printers are used to produce important and lengthy printouts, namely electrocardiograms. Recent technological advancements in thermal technology have enabled thermal paper manufacturers to produce products with much higher tolerance and longer life. Thermal transfer printers produce more legible, lasting prints as compared to those produced by their direct thermal counterparts that tend to smudge and fade away over time.

Thermal printing technology has large selection of label stocks, which makes these labels resistant to various harsh conditions such as water, heat, acid, and direct sunlight

Competition Landscape

The global thermal printing market represents a fragmented competition landscape, where top players in the thermal printing market are focusing on entering into the partnerships and collaborations with local & regional manufacturers and distributors to strengthen their market positions and expand their global footprints.

  • In October 2020, HP Development Company partnered with Additive Manufacturing Technologies (AMT), a global leader in safe and sustainable industrial automated chemical-vapor smoothing (post-processing) systems for additively manufactured parts, announced a new alliance to drive expansion of industrial 3D printed parts across industries such as automotive, industrial, medical and sporting goods at scale. The companies are working together to enable the highest quality post-processing solutions for applications developed for HP Multi Jet Fusion technology.
  • In February 2021, Honeywell International Inc. announced a strategic alliance with IDEMIA, the global leader in Augmented Identity, to create and cultivate an intelligent building ecosystem that provides a more seamless and enhanced experience for operators and occupants alike. The alliance will integrate Honeywell’s security and building management systems with IDEMIA’s biometric-based access control systems to create frictionless, safer, and more efficient buildings.

Future Market Insights has profiled the following prominent thermal printing providers in its report:

  • NCR Corporation
  • Honeywell International Inc.
  • Zebra Technologies Corporation
  • Fujitsu Limited
  • HP Development Company, L.P.
  • Seiko Epson Corporation
  • Toshiba Tec Corporation
  • Brother Industries, Ltd.
  • Star Micronics Co., Ltd.
  • NEC Corporation
  • Advantech Co., Ltd.
  • SATO HOLDINGS CORPORATION
  • BIXOLON CO., LTD.
  • TSC Auto ID Technology Co., Ltd.
  • Citizen Systems

Thermal printing Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa

Key Countries Covered

U.S., India, Canada, Germany, China, Italy, France, U.K., Spain, GCC and South Africa

Key Segments Covered

Printer Type, Printing Technology, Format Type, Industry, and Region

Key Companies Profiled

  • NCR Corporation
  • Honeywell International Inc.
  • Zebra Technologies Corporation
  • Fujitsu Limited
  • HP Development Company, L.P.
  • Seiko Epson Corporation
  • Toshiba Tec Corporation
  • Brother Industries, Ltd.
  • Star Micronics Co., Ltd.
  • NEC Corporation
  • Advantech Co., Ltd.
  • SATO HOLDINGS CORPORATION
  • BIXOLON CO., LTD.
  • TSC Auto ID Technology Co., Ltd.
  • Citizen Systems

Customization & Pricing

Available upon Request

Key questions answered in the report

  • How will the Thermal printing Market expand until 2031?

    Future Market Insights projects the market to register a CAGR of over 11.5% over the assessment period, starting from 2021 to 2031. The consistent growth of self-service machines such as kiosk, and the self-checkout system is expected to increase the overall growth of thermal printing market.

  • What is Driving Thermal printing Uptake?

    In recent years, demand for thermal printing has been increasing owing to features such as reduced cost to retailers, high speed of transactions, and accuracy in transactions of thermal printers.

  • Who are the leading providers of Thermal printing?

    Prominent players providing thermal printing systems and services include Datalogic S.p.A, Zebra Technologies Corporation, Honeywell International Inc., NCR Corporation, among others.

  • Who are the leading end users of Thermal printing?

    Supermarkets have emerged as the leading end users of the technology. The focus on improving customer services has resulted in higher update of thermal printing across supermarkets.

Enquiry before Buying

  • Is the market research conducted by Future Market Insights?

    Yes, the report has been compiled by expert analysts of Future Market Insights, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Future Market Insights?

    Future Market Insights follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Future Market Insights speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Future Market Insights conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

  • Is a sample of this report available for evaluation?

    Yes, you can request a sample, and it will be sent to you through an email.

  • How can I buy this report?

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Key Segments Covered

Printer Type

  • Barcode Printer
  • POS Printer
  • Kiosk & Ticket Printer
  • RFID Printer
  • Card Printer

Printing Technology

  • Direct Thermal
  • Thermal Transfer
  • Dye Diffusion Thermal Transfer

Format Type

  • Industrial
  • Desktop
  • Mobile

Industry

  • Retail & Wholesale
  • Transportation & Logistics
  • Healthcare
  • Travel & Hospitality
  • Media & Entertainment
  • Manufacturing
  • Government
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa (MEA)

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