The 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.

Major drivers for the thermal printing market are 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.

This report covers the thermal printing market based on offering, printer type, format type, printing technology, application, and geography. The supplies is expected to hold a major share of the thermal printing market during the forecast period.

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The barcode printers segment is expected to hold the largest share of the thermal printer market during the forecast period. 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.

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.

Key Target Audience: Thermal Printing Market

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

Retail application held the largest share of the thermal printing market in 2016. The demand for thermal printers is increasing in the retail sector as there is an increasing need for maintaining data by tracking inventory through the barcode and RFID tags. The thermal printing market for healthcare and hospitality application is expected to grow at the highest CAGR between 2017 and 2023.

Thermal printing market in APAC is expected to grow at the highest CAGR between 2017 and 2023. The Asian markets, mainly Japan, India, and China, are more likely to lead the thermal printing market in the coming years, in terms of technological adaptability and market size. Moreover, APAC has the presence of retailers such as Seven & I Holdings Company, Isetan, Aeon Company, and Gome Electrical Appliances, which provide barcode and RFID printers to various industries.

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.

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The restraint for the thermal printing market growth is the heat settings of thermal barcode printers and poor image quality of barcode labels.

The major vendors in the thermal printing market include Zebra Technologies (US), SATO Holdings (Japan), Epson (Japan), Star Micronics (Japan), Honeywell (US). These players adopted various strategies such as product launches and developments, mergers, partnerships, collaborations, and expansions to cater to the needs of customers.

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