Thermal Printing Market by Offering (Printer, Supplies), by Printer Type (POS Printer, Barcode Printers, and Others), by Format Type (Mobile Format, Desktop Format, Industrial Format), by Printing Technology (Thermal Transfer (TT), Direct Thermal (DT), and Others), by Application, and by Geography (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) – Global Forecast to 2026
Thermal Printing Market is expected to grow from USD 36.48 Billion in 2017 to USD 55.62 Billion by 2026, at a CAGR of 4.8% between 2017 and 2026.
This report is a consolidation of primary and secondary research, which provides market size, share, dynamics, and forecast for various segments and sub-segments considering the macro and micro environmental factors. The report analyses competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Thermal Printing Market.
Key factors expected to drive the growth of market include rapid industrialization of emerging markets and strong distribution network of thermal printer manufacturers, increase in the adoption of automatic identification and data capture (AIDC) technologies for productivity improvement, and increasing adoption of wireless technologies in mobile printers.
However, complexity in heat settings of thermal barcode printers and poor image quality of barcode labels are restraining Thermal Printing Market growth.
Barcode Printers to hold largest share of the thermal printer market by 2026
By Printer Type, Thermal Printing Market is segmented into POS Printer, Barcode Printers, RFID Printers, Card Printers, and Kiosk & Ticket Printers. From this segment, market for Barcode Printers is anticipated to hold the largest share of the thermal printer market during the forecast period.
Retail sub-segment held largest share of the thermal printing market in 2016
Based on Application, Thermal Printing Market is segmented into Healthcare and Hospitality, Transportation and Logistics, Retail, Government, Manufacturing, and Industrial. From this segment, market for retail sub segment accounted for the largest share of the thermal printing market in 2016. Growth of this segment is mainly driven by growing need for maintaining data by tracking inventory through the barcode and RFID tags, thermal printers are used to print these tags at considerably lower costs.
Supplies segment to hold a major share during the forecast period
On the basis of Offering, Thermal Printing Market is segmented into Printer and Supplies. From this segment, market for supplies anticipated to account for a major share between 2017 and 2026 owing to its dominant use in thermal printing applications.
Mobile format printer to witness highest CAGR during the forecast period
By Format Type, Thermal Printing Market is segmented into Mobile Format, Desktop Format, and Industrial Format. From this segment, market for mobile format is expected to grow at highest CAGR between 2017 and 2026. Growth of this segment is majorly driven by the increased use of mobile thermal printers for printing labels, tickets, and receipts in many markets, such as hospitality, retail, and healthcare.
North America held largest share of the thermal printing market in 2016
Geographically Thermal Printing Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Among all geographical regions, North America accounted for the largest share of the thermal printing market in 2016. Retail applications require barcode, and RFID labels and tags for tracking all the data of a particular asset, as a result retail applications such as inventory management, smart packaging, and warehousing, along with transportation and logistics contribute in the growth of thermal printing market in this region.