The latest market report published by Credence Research, Inc. “Global Thermal Printing Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global thermal printing market has witnessed rapid growth in recent years and is estimated to grow at a CAGR of 4.5% between 2023 and 2030. The market was valued at USD 44.2 billion in 2022 and is anticipated to reach USD 60.15 billion in 2030.
The global thermal printing market is primarily driven by the increasing demand for barcode and label printing solutions in various industries. The adoption of e-commerce and online shopping has contributed to the growth of thermal printing technology, as efficient printing is required for shipping labels, invoices, and receipts. The need for accurate and efficient printing technologies, along with stringent government regulations for product labeling and traceability, also drives the market. Advancements in thermal printing technology, such as improved print quality and faster printing speeds, further contribute to market growth. The Asia-Pacific region’s rapid industrialization and retail operations also play a significant role in driving market expansion.
Thermal Printing Market Key Growth Trends are a set of crucial factors that indicate the future direction of the thermal printing industry. In recent years, the market has experienced significant growth due to several key trends such as increased demand for barcode and label printers in various industries, growing adoption of mobile point-of-sale (mPOS) systems, and rising awareness about the benefits of thermal printing technology. Additionally, advancements in technology have led to more efficient and cost-effective thermal printers with better performance capabilities. Moreover, environmental concerns have also played a role in driving demand for eco-friendly thermal paper options.
Barcode printers lead the market in terms of type, driven by the growing demand for precise and efficient barcode printing in retail, logistics, and healthcare. Thermal transfer (TT) printing is the dominant technology segment, offering cost-effective and hassle-free printing solutions. The retail sector plays a significant role in the thermal printing market, utilizing thermal printers for product labeling, pricing, and receipts. North America holds the largest market share.
The global thermal printing market is driven by increasing demand for barcode and label printing solutions, the adoption of e-commerce and online shopping, and the need for efficient and accurate printing technologies. However, the market faces challenges such as competition from alternative printing technologies and environmental concerns related to thermal paper waste.
Despite these challenges, the market presents growth opportunities, including the development of eco-friendly thermal printing solutions, advancements in printing technology, and the increasing use of thermal printers in sectors such as healthcare, transportation, and retail.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Thermal Printing Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the Application and Type
- Major nations in each region with their import/export statistics
- The global Thermal Printing Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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