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Thermal Printing Market Size

  • Report ID: GMI4774
  • Published Date: Jul 2020
  • Report Format: PDF

Thermal Printing Market Size

Thermal Printing Market size exceeded USD 30 billion in 2019 and is poised to grow at 7% CAGR between 2020 and 2026. Increasing adoption of Automatic Identification & Data Capture (AIDC) technologies across several industry verticals for accurate data recognition, collection, and storage will drive the market growth.

 

Thermal printing is a technology that facilitates fast & precise printing of identification labels or receipts. The need to improve productivity, reduce paperwork, and ensure accurate data collection & transfer has increased the demand for thermal printing in AIDC technologies. Thermal printing technology is mainly used in AIDC due to its high reliability, speed, accuracy, and quality in printing barcodes. Benefits such as compact size and strong durability compared to other of printers, such as inkjet and dot matrix, has resulted in the increased adoption of thermal printers among several industrial verticals.

 

Thermal Printing Market

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Implementation of government initiatives to boost industrial development are supporting the growth of the thermal printing market. For instance, the G20 initiative on Supporting Industrialization in Africa and Less-developed Countries (LDCs) for eliminating poverty and promoting sustainable development will contribute towards the growth of retail, transportation & logistics, and manufacturing sectors. These industries require fast printing of labels to reduce the time-to-market and increase profitability. Thermal printing technology has gained popularity in the industrial sector due to its ability to create durable & long-lasting images that are resistant to external climatic factors. It can also create legible & smudge-free images, ensuring product safety and reducing the threat of counterfeit products.

 

Thermal printing market growth will witness a temporary slowdown in 2020. This can be attributed to the drop in global economic growth and temporary closure of several industries during the initial phase of imposed lockdowns globally. The closure of manufacturing facilities and disruption in the supply chain for e-commerce retailers will negatively impact the market growth. In addition, the pandemic has impacted the production capabilities of market players due to labor shortage, resulting in declined sales of thermal printing solutions.

 

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of thermal printing exceeded USD 30 billion in 2019.

The industry share of thermal printing is poised to grow at 7% CAGR between 2020 and 2026.

The overall Europe antimicrobial additives industry is anticipated to acquire a revenue share of $800 Mn by the end of 2025.

Expected CAGR that Europe antimicrobial additives market is estimated to register is 6% over 2020-2025.

Europe market is predicted to expand at a CAGR of more than 6% during the forecast timespan, led by developing packaged foods industry in several European countries including the UK, France, and Spain.

In the U.S. industry, barcode printer segment is estimated to register growth of around 9% through 2026.

Major market players include Brother Industries Ltd., Bixolon, Honeywell International, Inc., Fujitsu Ltd., Sato Holdings Corporation, Seiko Epson Corporation, Star Micronics Co. Ltd., Toshiba Corporation, TSC Auto ID Technology Co. Ltd., Avery Dennison Inc., Wasp Barcode Technologies, Zebra Technologies Corp., and NCR Corporation.

According to the analysts at GMI, the mobile thermal printers held around 25% share of the global market shipments in 2019.

Thermal Printing Market Scope

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Premium Report Details

  • Base Year: 2019
  • Companies covered: 20
  • Tables & Figures: 906
  • Countries covered: 20
  • Pages: 300
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