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Market Leader - Thermal Printing Market

The thermal printing market is expected to be valued at USD 37.66 Billion in 2017 and is estimated to be worth USD 50.45 Billion by 2023, at a CAGR of 5.00% between 2017 and 2023. The adoption of automatic identification and data capture (AIDC) technologies for productivity improvement, growing concerns about product safety and anti-counterfeiting, and growth of the e-commerce industry drive the growth of the global thermal printing market. Thermal printing plays a significant role in business transformation as organizations are dependent on printing to support different business activities. Individuals, retailers, and small businesses are the major customers of thermal printing services.

The thermal printing market in APAC is expected grow at the highest CAGR during the forecast period. The Asian markets, mainly Japan, India, and China, are more likely to lead the thermal printing market in the coming years in terms of technological adaptability and market size. The leading companies providing thermal printing solutions have a strong geographic presence in APAC.

RFID printers print RFID-enabled smart labels and tags, which use radio-frequency technology to transmission of information from user systems. RFID printers enhance the specific digital functionality of images by embedding RFID labels into different types of print formats. The increasing demand for RFID-printed labels in the supply chain of the retail and healthcare industries is the main factor that is likely to contribute to the high growth of the market for RFID printers between 2017 and 2023.

Industrial thermal printers are designed mainly for the durable and reliable printing tasks in tough environments, with a large production volume. These printers have application in various industries such as healthcare, transportation and logistics, manufacturing, and retail. Industrial thermal printers are used in harsh environments, such as the manufacturing industries having a huge demand for labels, receipts, and tags. The demand for industrial format printers is being driven by the increasing need for inventory management and growing adoption of these printers for tracking, recording, and storing the data related to goods or products in the manufacturing industry.

The thermal printing market for the healthcare and hospitality application is expected to grow at the highest CAGR between 2017 and 2023. Tags and labels play a major role in the healthcare industry, wherein they are used mainly for patient ID tracking, hospital admission, specimen/blood labeling, medication tracking, staff ID and access control, healthcare materials management, workflow automation, and other functions. The hospitality industry requires thermal-printed receipts in gaming, hotel, entertainment, and restaurant point-of-sale (POS) applications. In the hospitality industry, thermal printing is required to print admission tickets, loyalty cards,VIP passes, meal tickets, coupons, event wristbands, shuttle bus tickets, and other entertainment-related media.

Related Reports:

Thermal Printing Market by Offering (Printer, Supplies), Printer Type (Barcode, POS, Kiosk & Ticket, RFID, and Card), Format Type (Industrial, Desktop, Mobile), Printing Technology (DT, TT, D2T2), Application and Geography - Global Forecast to 2023

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