Thermal Printing Market Size, Share, Growth Analysis, By Offering(Printer, Supplies), By Printer Type(Barcode Printers, POS Printers, Kiosk & Ticket Printers, RFID Printers), By Format Type(Industrial Format, Desktop Format, Mobile Format), By Printing Technology(Direct Thermal (DT), Thermal Transfer (TT), Dye Diffusion Thermal Transfer (D2T2)), By Application(Retail, Transportation & Logistics, Manufacturing & Industrial, Healthcare & Hospitality), By Region - Industry Forecast 2024-2031

Thermal Printing Market Driver

The expanding retail industry is likely to boost the worldwide thermal printing market growth throughout the forecast period.

• Retailers are consistently focused on their point of sale (POS) experience by providing customers with quick and efficient services. Thermal printing is often utilized for improved and high-speed solutions, which traditional impact printers do not provide. Furthermore, thermal printers are less expensive than conventional printers, which is encouraging their popularity. Many retail stores in Europe, North America, and Europe have begun to favor thermal printers over impact printers. According to CMI study, APEJ is predicted to account for over half of the world's top fifty largest economies' sales in the next five years, more than doubling that of North America, the next largest region in the retail industry.

Thermal Printing Market Restraint

Competitive pricing from new entrants is projected to hinder global thermal printing market growth over the forecast period.

• Thermal printer manufacturers' intense competition is projected to limit market growth in the near future. Thermal printer producers in China and India have easy access to cheap raw materials and labor, allowing them to keep product prices low. This, in turn, is projected to have a substantial influence on worldwide market participants. Increasing functionality and performance, combined with price decreases in developed nations such as North America and Europe, have made it difficult for main industry participants to compete with manufacturers from emerging economies. This is projected to stifle market expansion during the forecast period.