Thermal Printing Market is predicted to boom over the forecast period, due to the rising demand for thermal barcode scanners. Thermal printing is a digital printing process that uses printer incorporated with a thermal print head to transfer electric energy into heat.
Accelerating penetration of wireless technologies in mobile printers and the incorporation of IoT technologies in the printing application are the major factors fueling the thermal printing technology. Thermal printing technology is increasingly adopted across hospitality and retail sector, which is another factor strengthening the market growth. Ongoing technological innovations in the printing technology like smart printing technologies which resulted in improved safety and speed and rapid digitalization along with increasing adoption of RFID printers and barcode in supply chain will generate enormous opportunities for the market.
By printer type, the Barcode Printers segment is anticipated to witness a promising growth over the forecast period, owing the growing deployment across retail and business sector to track and label shipped products. Also, the growing adoption of barcode printers across different application to improve the performance delivery and offer cost-effective properties.
By application, the Healthcare & Hospitality segment is forecast to expand at a higher CAGR over the forecast period. The thermal printers have the capability to print tags and labels for different healthcare sector to improve the patient flow.
By region, North America is expected to hold a larger share during the forecast period, owing to the strong presence of various production plants. Also, increasing adoption of thermal printing across retail and healthcare & hospitality will bolster the thermal printing market size.
Leading players in the market include, Zebra Technologies, Honeywell International Inc., Star Micronics Co., Ltd., Sato Holdings Corporation, Fujitsu Ltd., Bixolon, Toshiba TEC Corporation, Seiko Epson Corporation, Brother Industries, Ltd., and TSC Auto ID Technology, among others.
In 2020, Sato Holdings Corporation developed a thermal industrial printer named CL4NX Plus; the printer is launched to enhance the reliability and durability in the business-critical track and trace operations all across the world.
In 2018, Zebra Technologies innovated next-generation thermal desktop printers empowered by Print DNA, which is a software suite including utilities, applications, and developer tools. Such printers allows company to detect and interpret the performance and status of their printer fleet in real-time.
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