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.

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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).