Rising Demand From Packaging And Labeling Applications
The thermal printing market is estimated to be valued at US$ 47.14 Bn in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis:
- Strength: Thermal printing requires no ink or toner which reduces costs and produces less waste that increases profits over alternative printing technologies. It also offers portability with compact size printers that can be powered with batteries making them ideal for mobile applications. Thermal printing is very durable and waterproof therefore the printed content remains readable even in harsh conditions.
- Weakness: The printed text can fade away over time affecting readability when exposed to light for long durations. Thermal printing also has lower resolution and image quality compared to other technologies limiting its usage for printing high resolution images.
- Opportunity: Growth of retail sectors especially in developing countries increases demand for receipts and labels which is fuelled adoption of thermal printing. Moreover, increasing usage of mobile devices also drives the need for compact portable thermal printers well suited for mobile applications.
- Threats: Advent of technologies like inkjet and laser printing poses threat due to their relatively higher print quality and resolution. Stiff competition among existing players intensifies price pressure affecting margins.
Key Takeaways:
The Global Thermal Printing Market Growth is expected to witness high, exhibiting CAGR of 4.5% over the forecast period, due to increasing demand from retail sectors. Proliferation of POS terminals and growing e-commerce activities fuels the need for receipts and labels driving the thermal printing market worldwide.
Regional analysis: North America dominated the global thermal printing market in 2022 and is anticipated to continue leading over the forecast period. This is attributed to widespread adoption of thermal printing technologies across various industries in the region. Asia Pacific thermal printing market is expected to exhibit fastest growth owing to rising retail activities, growing food and beverage sectors in countries like China and India.
Key players operating in the thermal printing market include Zebra Technologies Corporation, TSC Auto ID Technology Co., Ltd., Toshiba TEC Corporation, Honeywell International, Inc., Bixolon Co., Ltd., Citizen Holdings Co., Ltd., Star Micronics Co., Ltd., Seiko Epson Corporation, SATO Holdings Corporation, HP India Sales Private Limited and Brother International Corporation. These players are focusing on new product launches and expansion strategies to strengthen their market share.
Explore more trending article on this topic –
https://diveintoinsights.blogspot.com/2023/12/thermal-labels-is-fastest-growing.html
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian