Market Overview
The Global Thermal Printer Market is Expected to reach at a CAGR of 5.6% during the forecast period (2022-2029).
Thermal printing is a technology that allows the creation of identification labels or receipts quickly and precisely. The call for for thermal printing in AIDC technologies has grown due to growing productivity, decreasing office work, and ensuring accurate records amassing and transfer. Because of its exquisite reliability, pace, accuracy and great of printing barcodes, the thermal printing era is especially employed in AIDC.
Thermal printers have elevated popularity across numerous business sectors due to blessings together with compact length and lengthy sturdiness compared to other printers along with inkjet and dot matrix.
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Market Dynamics
The increasing worries related to counterfeiting for operators and producers are anticipated to drive the marketplace
Counterfeiting fees companies hundreds of thousands of lost sales every 12 months. For example, according to a survey from GlobalData 2018, 68% of FMCG executives are worried approximately the dangers of counterfeit items, such as a hundred%, 68%, and fifty four% of executives in Asia-Pacific, North America, and Europe, respectively. In addition, a 2015 Forbes survey suggested that multinational manufacturers are losing about 10% of their top-line revenue because of counterfeiting.
Therefore, the smart packaging era is being used by operators and manufacturers, such as anti-counterfeiting labels and printing, to assist fight such unlawful activity. Anti-counterfeit labels and printing is a simple, low-price era that can take safety to new pinnacles and make it almost impracticable for fraudsters to duplicate.
In March 2020, Rotech Machines, a UK-based coding and marking answers company, brought anti-counterfeit ultraviolet (UV) printing, utilizing the brand-new invisible UV thermal inkjet printing. It complements product protection and traceability. It may be used for pharmaceutical products, business components, food and alcohol packaging, software program, and high-priced items.
Market Segmentation:
By Offering
- Printer
- Supplies
By Printer Type
- Barcode Printers
- POS Printers
- Kiosk & Ticket Printers
- RFID Printers
By Format Type
- Industrial Format
- Desktop Format
- Mobile Format
By Printing Technology
- Direct Thermal (DT)
- Thermal Transfer (TT)
- Dye Diffusion Thermal Transfer (D2T2)
By Application
- Retail
- Transportation & Logistics
- Manufacturing & Industrial
- Healthcare & Hospitality
- Government
Competitive Landscape
The global thermal printer market is moderately competitive with several end-user industries such as pharmaceuticals, resulting in high investment by local and global brands, contributing to the major share of the market.
In addition, major players contributing to the market’s growth are Zebra Technologies Corp., SATO Holdings, Seiko Epson, Star Micronics, Honeywell Global, Brother Industries Ltd., Bixolon, Fujitsu Ltd., Toshiba Corporation, TSC Auto ID Technology Co. Moreover, the companies are adopting growth strategies such as expansions, acquisitions, product launches, and collaborations, contributing to the market growth globally.
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