Thermal printers use heated pins to produce an impression on a thermal paper. There are two types of thermal printing methods namely – direct thermal printing, and thermal transfer printing.
Rapid industrialization, and growing retail and e-Commerce sectors which are major consumers of thermal printing are driving growth of the global thermal printing market. In addition, easy availability, and low cost of thermal paper rolls are other factors driving growth of the global market. Moreover, increasing adoption of internet of things (IoT) devices and technology for printing application are other factors, which are expected to create lucrative business opportunities for major players in the global market over the next 10 years.
The global thermal printing market is segmented on the basis of printer type, technology, application, and region. On the basis of printer type, the global market is segmented into barcode printers, point of sale (POS) printers, kiosk & ticket printers, and RFID printers. Of which the barcode printers segment accounts for highest market share, whereas the RFID printers segment is expected to witness highest growth over the forecast period.
On the basis of region, the global thermal printing market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among them, the market in North America accounts for highest revenue share in the global market, and is expected to maintain its dominance over the forecast period. Factors such as presence of major manufacturers in countries such as China, Japan, coupled with increasing adoption of thermal printers by retail, and manufacturing sectors, is expected to propel the market in Asia Pacific registering highest growth over the next 10 years.
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Key players in the global market are Zebra Technologies Corporation, Honeywell International Inc., Seiko Epson Corporation, SATO Holdings Corporation, Star Micronics Co. Ltd., Bixolon, Fujitsu Ltd., Brother International Pvt. Ltd., Toshiba TEC Corporation, TSC Auto ID Technology Co., Ltd, and other prominent manufacturers.