Frequently Asked Questions
The global thermal printing market was valued at USD 44.2 Billion in 2022.
The thermal printing market is anticipated to grow at a CAGR of 4.5% between 2023 and 2030, reaching USD 60.15 Billion in 2030.
Printer is the leading segment by offering, holding over 62% share in terms of value in 2022.
The thermal transfer (TT) segment governs the demand for thermal printing worldwide, holding a massive share of over 42% in 2022.
The retail segment will post the highest CAGR during the forecast period.
North America is fueling the rapid growth of the thermal printing industry, with an over one-third share in 2022.
The top players include Zebra Technologies Corporation, Honeywell International Inc, Star Micronics Co. Ltd, and Brother International Corporation. Other major players include Toshiba TEC Corporation, Bixolon Co. Ltd, Seiko Epson Corporation, and HP India Sales Private Limited.
The growing adoption of e-commerce and logistics services, increasing demand for product labeling and tracking in various sectors, advancements in printing technology leading to improved print quality and speed, and the growing need for cost-effective and reliable printing solutions are the major market drivers of the thermal printing industry.
The increasing popularity of digital documentation and paperless operations, the availability of alternative printing technologies such as inkjet and laser printing, limitations in printing complex graphics and colors using thermal printing, and the ongoing transition to digitalization in various industries are the major market restraints of the thermal printing industry.
The major market opportunities of the thermal printing industry include the growing demand for on-demand printing solutions, the increasing adoption of RFID technology in various sectors, and expanding applications in healthcare, logistics, and retail industries.