The thermal printing market was valued at USD 37.66 billion in 2017 and is expected to reach USD 50.45billion by 2023, at a CAGR of 5.00% between 2017 and 2023.
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The barcode printers segment is expected to hold the largest share of the thermal printer market during the forecast period.
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The market for RFID printers is expected to grow at the highest CAGR between 2017 and 2023. Thermal barcode printers are extensively used in small, medium, and large businesses to label and, subsequently, track the products to be shipped.
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Key Target Audience
- Thermal printing service providers
- IT service providers
- Cloud service providers
- Printer suppliers
- Original equipment manufacturers (OEMs)
- System integrators and third-party vendors
- Software solution providers
- Government bodies
- Technology investors
- Enterprise data center professionals
- Research institutes and organizations
- Market research and consulting firms
This report provides the market size and future growth potential of the thermal printing market across different segments such as offering, printer type, format type, printing technology, application, and geography. The study identifies and analyzes the market dynamics such as drivers, restraints, opportunities, and industry-specific challenges for the thermal printing market.
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The industrial format printers are expected to hold the largest share of the thermal printer market during the forecast period. Thermal printer market for mobile format is expected to grow at the highest CAGR between 2017 and 2023.
Mobile format thermal printers are light in weight, easy to use, and durable, and deliver rich print quality. These printers are used in various applications such as hospitality, healthcare, and retail.
North America held the largest share of the thermal printing market in 2016. Retail applications, such as smart packaging, inventory management, and warehousing, and transportation and logistics applications drive the thermal printing market in North America.
Also, the presence of significant players such as Zebra Technologies (US), Honeywell (US), Avery Dennison (US), and Wasp Barcode Technologies (US), serving the retail, and transportation and logistics industries, is expected to further boost the thermal printing market in North America.