July 20, 2024
Thermal Transfer Printing
Ict

Increasing Adoption Of POS Printers In Retail And Hospitality Sectors Is Anticipated To Open Up The New Avenue For Thermal Printing Market

Thermal printing involves transferring images onto heat-sensitive paper or labels using a thermal print head. It does not require ribbon or toner and offers fast, quiet, and economical printing. Thermal printing finds widespread application in POS printers, barcode printers, Kiosk printers, tickets, labels, and tags. The key products in the market include barcode printers, POS printers, Kiosk printers, card printers.

The Thermal Printing Market is estimated to be valued at US$ 47.14 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Thermal printing market is driven by growing adoption of mobile POS devices in retail and hospitality sectors. Mobile POS devices are portable, compact, and economical and enable contactless payment acceptance. Their increasing use by small and medium businesses is driving demand for integrated thermal printers. Another major driver is growth in e-commerce. Thermal printers are extensively used for printing shipping labels by e-commerce companies. They offer affordable, quick and durable printing suitable for shipping and warehousing applications.

Segment Analysis:

The global thermal printing market is dominated by thermal transfer printing sub-segment which accounts for over 60% market share. This is because thermal transfer printing results in higher quality print outs that are weather and scratch resistant. It allows printing on various types of materials like paper, plastic, polyester, vinyl, etc. which has augmented its adoption over direct thermal printing.

PEST Analysis:

Political: No significant political factors affecting the market.

Economic: Growing e-commerce industry and increasing need for labelling and packaging is fueling the demand for thermal printers from industries like healthcare, retail, transportation etc.

Social: Growing trend of mobile printing and need for durable labels and receipts is promoting the use of thermal printing technology.

Technological: Advancements in printing resolutions, speeds and incorporation of technologies like wireless connectivity are enhancing the capabilities of thermal printers.

Key Takeaways:

The Global Thermal Printing Market Demand is expected to witness high growth, exhibiting CAGR of 4.5% over the forecast period, due to increasing demand from retail and transportation industries for labelling and packaging. The Asia Pacific region dominates the market and is expected to grow at fastest rate owing to large manufacturing base and rising e-commerce sector in countries like China and India.

Regional analysis: The Asia Pacific region dominates the global thermal printing market with over 35% share assisted by presence of manufacturing giants and fast growing retail and e-commerce sectors in China and India. The region is poised to exhibit growth at highest CAGR during the forecast years.

Key players: Key players operating in the thermal printing market are Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, HP India Sales Private Limited and Brother International Corporation. These players are focusing on new product launches and partnerships to remain competitive in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it