Which are the major companies in the thermal printing market?

Thermal printing is a process in which heat is used to produce an image or print on the paper. This technology does not make use of ink or toner, unlike many other printing forms, but mostly depends on thermal papers for producing images. The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% during the forecast period. Retail, transportation & logistics, manufacturing & industrial, and healthcare & hospitality are the key applications, which dominate the thermal printing market and also contribute significantly to its growth.

Major players in the thermal printing market have primarily adopted strategies such as product launches and expansions to strengthen their position in the market.

• In January 2020, SATO Holdings (Japan) launched CL4NX Plus, a thermal industrial printer designed for durability and dependability in business-critical track and trace applications across the world.
• In September 2019, Toshiba America Business Solutions (US) launched its premium thermal barcode printer, which delivers high-resolution labels with precision and speed. Toshiba’s B-EX4T3HS prints 600 dots per inch at speeds up to six inches per second, and can print labels as small as 0.51 inches wide by 0.12 inches high.

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Zebra Technologies (US) and SATO Holdings (Japan) are among the major players in the thermal printing market. Zebra Technologies is a well-known player in the thermal printing market and has over 35 years of experience and expertise in the field of printers. Strong brand name and broad product portfolio are 2 essential factors resulting in the leading position of Zebra Technologies in the thermal printing market. Apart from the strong brand name and product portfolio, the company also has strong R&D capabilities and geographic presence.

SATO Holdings (Japan) is a well-known provider of auto-ID solutions for leading manufacturing, logistics, retail, food & beverage, and healthcare companies. It has ~79 years of experience in the field of auto-ID solutions. The company has a strong thermal printer product portfolio, which is further strengthening by launching new products. For instance, in January 2020, SATO America at National Retail Federation (NRF) Annual Convention & EXPO in New York unveiled three new products, which included a smart desktop label printer, thermal industrial printer, and compact mobile printer. SATO Holdings has a strong grip on the APAC market and is further firming its grip on this region by expanding its reach. In the recent years, the company has opened a new sales branch office in Malaysia, and a subsidiary in Switzerland.

Thermal Printing Market Forecast and Industry Analysis | COVID-19 Impact Analysis

The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% during the forecast period. Rising utilization of automatic identification and data capture technologies for improving productivity, increasing concerns regarding product safety and anti-counterfeiting, increasing use of thermal printing technology in latest on-demand printing applications, rising penetration of wireless technologies in mobile printers, and growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry are the key driving factors for the thermal printing market.

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Thermal printing market for healthcare & hospitality application to grow at highest CAGR during the forecast period

The healthcare & hospitality application is expected to witness the highest CAGR in the thermal printing market during the forecast period. The use of smart labels helps in the instant tracking of patients and medical equipment, whenever required, especially in emergencies. Thermal printers are widely used for printing labels and tags that are compatible with various processes in the healthcare application and help to improve patient flow, bed utilization, and asset allocation.

Barcode printers for thermal printer market to account for largest market share during the forecast period

The thermal printing market, by printer type, is segmented into barcode printers, POS printers, kiosk & ticket Printers, RFID printers, and card printers. Barcode printers segment is expected to lead the thermal printer market, in terms of size, during the forecast period. Thermal barcode printers are extensively used in small, medium, and large businesses to label and subsequently track the products to be shipped. This is one of the significant factors that has led to the leading position of barcode printers in the thermal printer market

North America in thermal printing market to account for the largest market share during the forecast period

North America is expected to account for the largest share of the thermal printing market during the forecast period. Among all applications, retail, transportation & logistics, manufacturing & industrial, and healthcare & hospitality are the major application areas in which thermal printers are used in the region. Several companies offering thermal printers and supplies have their presence in this region, which further adds to the growth of the market in North America. Zebra Technologies (US), Honeywell International (US), NCR Corporation (US), and Avery Dennison (US) are among a few of the providers of thermal printers having a presence in North America.

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Key Market Players

Key players in the thermal printing market include Zebra Technologies (US), SATO Holdings (Japan), Seiko Epson (Japan), Star Micronics (Japan), and Honeywell International (US). Zebra Technologies is one of the leading players in the market and has over 35 years of experience and expertise in the field of printers. Strong brand name and broad product portfolio are two key factors resulting in the leading position of Zebra Technologies in the market. Apart from the strong brand name and product portfolio, the company also has strong R&D capabilities and geographic presence.

Impact of COVID 19 on Thermal Printing Market

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Thermal Printing Market. We are working diligently to help companies take rapid decisions by studying: 

• The impact of COVID-19 on the Thermal Printing Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Thermal Printing Market
• The shifting short-term priorities of the top 50 companies' clients and their client's clients

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According to the new research report "Thermal Printing Market by Offering (Printer, Supplies), Printer Type (Barcode, POS, Kiosk & Ticket, RFID, and Card), Format Type (Industrial, Desktop, Mobile), Printing Technology (DT, TT, D2T2), Application and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the Thermal Printing Market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% from 2020 to 2025.

The growth of the thermal printing market is driven by factors such as rising utilization of automatic identification and data capture technologies for improving productivity, growing concerns regarding product safety and anti-counterfeiting, increasing use of thermal printing technology in latest on-demand printing applications, rising penetration of wireless technologies in mobile printers, and growing use of RFID and barcode thermal printers in the fast-growing e-commerce industry.

Browse in-depth TOC on "Thermal Printing Market"

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Barcode printer segment to hold the largest share of the thermal printer market, by type, in 2020

Barcode printer segment will lead the thermal printer market, by type, in terms of size, in 2020. Thermal barcode printers are extensively used in small, medium, and large businesses to label and subsequently track the products to be shipped. This is one of the significant factors that has led to the leading position of barcode printers in the thermal printer market.

The market for healthcare & hospitality application to grow at the highest CAGR during the forecast period

The thermal printing market, based on application, has been segmented into retail, transportation & logistics, manufacturing & industrial, healthcare & hospitality, government, and others. Among all applications, the thermal printing market for healthcare & hospitality applications is expected to witness the highest growth during the forecast period. The use of smart labels helps in the instant tracking of patients and medical equipment, whenever required, especially in emergencies. Thermal printers are widely used for printing labels and tags that are compatible with various processes in the healthcare application and help to improve patient flow, bed utilization, and asset allocation.

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North America to hold the largest share of thermal printing market by 2020

North America is expected to hold the largest share of the thermal printing market by 2020. The US leads the market in North America owing to its well-established economy that encourages government and private investments in new technologies. APAC is expected to account for the second-largest share of the thermal printing market during the forecast period. China and Japan are significant demand-generating countries for thermal printers in this region.

A few key players operating in the thermal printing market are Zebra Technologies (US), SATO Holdings (Japan), Seiko Epson (Japan), Fujitsu (Japan), Star Micronics (Japan), BIXOLON (South Korea), and Honeywell International (US).

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Industrial Format Printers Expected to Hold Largest Share of Thermal Printer Market between 2017-2023

According to the new market research report "Thermal Printing Market by Offering (Printer, Supplies), Printer Type (Barcode, POS, Kiosk & Ticket, RFID, and Card), Format Type (Industrial, Desktop, Mobile), Printing Technology (DT, TT, D2T2), Application and Geography - Global Forecast to 2023", The thermal printing market is expected to be valued at USD 37.66 Billion in 2017 to reach USD 50.45 Billion by 2023, at a CAGR of 5.00% between 2017 and 2023.

The adoption of automatic identification and data capture (AIDC) technologies for productivity improvement, growing concerns about product safety and anti-counterfeiting, use of thermal printers in on-demand printing applications, increasing adoption of wireless technologies in mobile printers, and growth of the e-commerce industry are the driver of the growth of the thermal printing market worldwide.

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Supplies to hold a major share of thermal printing market during forecast period

The supplies segment is expected to hold the major share of the thermal printing market based on offering between 2017 and 2023. The overall thermal printing market based on offering is segmented in printer hardware and supplies. Supplies hold a larger share of the overall market owing to its dominant use in thermal printing. A lifetime of almost every printer involves the use of numerous supplies, which is leading to the rapid upsurge in the demand for supplies.

Barcode printers to hold largest share of thermal printer market during forecast period

Barcode printer is expected to hold the largest share of the thermal printer market 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. Application of barcode printers in the retail sector increases efficiency, boosts employee productivity, widens profit margins by lowering costs, and helps deliver a top-notch customer service.

Thermal printer market for mobile format to grow at 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. Mobile printers have an ability to receive a command from mobile, smartphones, and tablets, either through connecting cables or wireless connection enabled by short-range Bluetooth technology. The demand for mobile thermal printers is increasing rapidly as these printers are used for printing labels, tickets, and receipts in many markets, such as hospitality, retail, and healthcare, owing to their several benefits such as the ability to connect to wireless networks and print materials on the spot.

Retail held largest share of the thermal printing market in 2016

The demand for thermal printers is increasing in the retail sector as there is a growing need for maintaining data by tracking inventory through the barcode and RFID tags. Thermal printers are used to print these tags at significantly low costs. Also, these printers print rugged and reliable labels, which can withstand all challenging conditions such as abrasion, moisture, and extreme temperature. Moreover, the inclination of the companies toward retailing and growth potential of e-commerce business are further expected to fuel the thermal printing market.

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North America held largest share of thermal printing market in 2016

Retail applications, such as smart packaging, inventory management, and warehousing, along with transportation and logistics applications drive the thermal printing market in North America. These applications require barcode, and RFID labels and tags for tracking all the data of a particular asset. Owing to this, the demand for RFID, barcode, and POS thermal printers is increasing rapidly in North America.

Also, the presence of significant players such as Zebra Technologies (US), Honeywell International (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.

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Thermal Printing by Printer Type (Barcode, POS, Kiosk & Ticket, RFID, and Card): Top 10 Printing Technology

The overall thermal printing market is expected to grow from USD 37.66 billion in 2017 to USD 50.45 billion by 2023, at a CAGR of 5.00% between 2017 and 2023. The adoption of automatic identification and data capture (AIDC) technologies for productivity improvement, growing concerns about product safety and anti-counterfeiting, and growth of the e-commerce industry drive the growth of the thermal printing market. 

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The key players in the thermal printing market are increasingly adopting strategies such as product launches and developments, partnerships, contracts, agreements, mergers and acquisitions, collaborations, and expansions to grow in the market.

According to the present scenario, major companies in the thermal printing market are investing extensively in research and development (R&D). The companies are also partnering with other companies to offer cost-efficient printing solutions. 

In terms of the market leadership, Zebra Technologies (US) is the leader in providing thermal printing services worldwide, while SATO Holdings (Japan), Epson (Japan), Star Micronics (Japan), and Honeywell (US) provide thermal printing solutions worldwide.

Zebra Technologies (US) held the first position in the thermal printing market. The company is well-placed in this market, and it has developed a range of dedicated products for the market. Zebra provides a range of direct thermal and thermal transfer label printers, RFID printers or encoders, dye sublimation card printers, and real-time locating solutions (RTLS) as along with the related accessories and support software. 

The Legacy Zebra segment of the company offers barcode and card printing location and motion sensing solutions. Zebra focuses on leveraging an existing portfolio of products and services to meet the market demand. It invests highly in R&D to introduce new technologies with better and unique features. In May 2016, Zebra launched Zebra OneCare managed services portfolio, including new Asset Visibility Service (AVS). AVS offers insight into device health, utilization, and  availability in customer work set-ups, resulting in an overall increase in productivity and operational efficiency.

SATO Holdings (Japan) ranked second in the thermal printing market in 2016. SATO is a global provider of integrated automatic ID solutions employing barcode and RFID technologies. SATO offers the high-quality industrial barcode printers. In addition to these printers, the company engages in the production of desktop thermal printers and mobile thermal printers. 

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The company is continuously developing and launching new products and technologies to establish its brand position in the market. The company has acquired different other companies to expand its customer base. For instance, in December 2016, SATO acquired DataLase (UK), which is a leading provider of inline digital printing solutions. It adopts product launches as a key strategy to grow in the thermal printing market. For example, in July 2017, SATO developed the Yu-Pri Touch shipping label printing system, in collaboration with Japan Post.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
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USA : 1-888-600-6441
newsletter@marketsandmarkets.com