Thermal Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Thermal Printing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Thermal printing market is excepted to register a CAGR of 5.2% during the forecast period. The growth of demand for thermal barcode printers in the supply chain process is increasing effectively along with growing concerns about product safety and anti-counterfeiting, along with the rising use of thermal printing technology in the most recent on-demand printing applications leads to driving the demand for the market.

Key Highlights

• The industry is driven by introducing AIDC (Automatic Identification and Data Capture) technology to increase work rates. Businesses can save and retrieve much information about the product that a barcode is on, thanks to barcodes. They are commonly used in medical and hospitals to identify patients and access information on medical histories, medicine allergies, and other crucial details.
• Moreover, when needed, especially in an emergency, the usage of smart labels aids in the immediate tracking of patients and medical equipment. Labels and tags compatible with numerous operations in the healthcare industry are frequently printed using thermal printers, which helps to increase patient flow, bed utilization, and asset allocation.
• The growing use of wireless technology in portable printers has driven the market. Device manufacturers are turning away from the current all-in-one type of mobile information devices (handheld terminals) due to the widespread use of PDAs (Personal Digital Assistants), which can communicate with PCs and be controlled commercially.
• Further, Examples include applications that require high-resolution text or graphics in small-format output (2.9"x4.1" or 4.1"x5.8") and the ultra-slim, a lightweight mobile printer from Brother. The MW Series provides simple, wireless communication with iPhone, iPad, iPod, Windows, Windows Mobile, and Android devices thanks to MFi Bluetooth wireless technology and universal operating system compatibility. Furthermore, Bluetooth-enabled phones can communicate with wireless printers within 33 feet via radio frequency at 2.4GHz.
• However, there are drawbacks to these printers, too, as the extra heat from this printing frequently damages the print head and raises the cost of repair and replacement.
• Moreover, almost every industry has been negatively impacted by the COVID19 problem, which has disrupted supply chains, nationwide lockdowns, and organizations considering the idea of long-term or even permanent remote working. Many businesses are currently adjusting to account for Covid-19's complex and wide-ranging consequences on the print industry.

Key Market TrendsRetail Holds the Significant Share in The Market

• Small, medium and big firms utilize thermal barcode printers frequently to label and track the products transported. It is one of the important aspects contributing to barcode printers' dominant position in the thermal printer Market.
• Global retail store growth has made barcoding technology a must for a lean, adaptable retail industry. Many businesses struggle to keep products flowing while keeping track of them as they travel. Owners can produce the labels required to organize inventory and files, distribute goods, and more by adding a barcode maker to the mix in addition to traditional printers for receipts and invoices. Using strong, fade-resistant, heat-sensitive label stock to create barcodes assures the organization's work will not be undone over time.
• Many players are presenting new technology to improve intelligent printing solutions for changing payment methods. One example is the SRP-Q300 3-inch (80mm) Direct Thermal cube desktop printer series from BIXOLON, which will be on display in November 2019. This series offers versatile mPOS printing at a reasonable price. For store labeling and inventory management, this thermal transfer printer is perfect.
• Retailers continually prioritize their point of sale (POS) experience by providing customers with quick and effective services. Thermal printing is often employed for improved and fast solutions compared to traditional impact printers. Additionally, thermal printers are more affordable than conventional printers, which encourages their use.
• Moreover, retail establishments in Europe, North America, and Europe have switched from impact printers to thermal printers. According to a CMI study, in the next five years, APEJ is predicted to account for almost half of their sales made by the top fifty economies in the globe and double North America's share of the retail market.
• Furthermore, most businesses and organizations in China have begun to switch from traditional office equipment to local items rather than the well-known large global brands, motivated by the need for digital information and a security policy. Shortly, it will be anticipated that a sizable share of domestic printers and printing supplies will displace the current brands.
• Additionally, Chinese producers are concentrating on printers for a specialized purpose. These consist of UV flatbed printers, label printers, and printers for blueprints. Chinese OEMs will expand and play a significant role not only in the domestic market but also in the international market as more and more Chinese firms enter the printer market.

North America Account for Significant Market Share

• Due to the rising demand for retail applications, including smart packaging, inventory management, warehousing, transportation, and logistics, North America currently retains the lion's share of the global market for thermal printing. Numerous retailers in North America have already switched, replacing their impact printers with more sophisticated, thermal-only alternatives. Businesses emphasize lowering printing costs, environmental effects, maintenance costs, etc.
• Furthermore, the primary industries in the region where thermal printers are used are manufacturing and industrial, retail, transportation and logistics, and healthcare and hospitality. This area is home to many businesses that sell thermal printers and related products, further fueling the expansion of the thermal printer market in North America.
• Significant players in the region, such as Zebra Technologies, Honeywell, Avery Dennison, etc., serve highly in retail, transportation, and logistics industries, which is expected to further boost the thermal printing market in North America. For instance, in February 2021, To develop and maintain an intelligent building ecosystem that offers a more seamless and improved experience for operators and occupants alike, Honeywell International Inc. announced a strategic agreement with IDEMIA, the world leader in augmented identity. The cooperation will combine IDEMIA's biometric access control systems with Honeywell's security and building management solutions to create seamless, safer, and more effective buildings.
• Moreover, One of the biggest thermal supply converters in North America is Zebra. Zebra offers a solution for almost any application and has the broadest assortment of pre-tested, premium labels, tags, receipt paper, wristbands, cards, and ribbons. The thermal printing market is expanding yearly because of its greatest spread in this area.

Competitive Landscape

The thermal printing market is highly fragmented as various global and local players are in the race to innovate new technologies under thermal printing to improve work efficiency in various end-user industries. Key players are Zebra Technologies Corp., Sato Holdings Corp., Honeywell International Inc., Bioxolon, and Brother International Corporation.

• March 2022 - Zebra Technologies Corporation launches its Reflexis solutions across Australia and New Zealand inorder to expand their portfolio across the Asia Pacific region. In contrast, Reflexis solutions provide businesses the tools to access their data to work, allowing for higher levels of security and manageability along with new analytics, which can elevate their business performance.

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