Thermal Printing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Includes Global Thermal Printer Manufacturers and the Market is segmented by Printer Formats (Barcode, Label, POS (Point of Sale)), Technology (Direct Thermal, Thermal Transfer), End-User (Retail, Healthcare, Industrial & Manufacturing, Transportation, Government), and Geography (North America, Asia-Pacific, Europe, the Middle East and Africa, and South America). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Thermal Printing Market Size

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Thermal Printing Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.20 %
Fastest Growing Market Asia Pacific
Largest Market North America
Market Concentration Low

Major Players

Thermal Printing Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Thermal Printing Market Analysis

The Thermal printing market is excepted to register a CAGR of 5.2% during the forecast period. The growth of demand for thermal barcode printers in the supply chain process is increasing effectively along with growing concerns about product safety and anti-counterfeiting, along with the rising use of thermal printing technology in the most recent on-demand printing applications leads to driving the demand for the market.

  • The industry is driven by introducing AIDC (Automatic Identification and Data Capture) technology to increase work rates. Businesses can save and retrieve much information about the product that a barcode is on, thanks to barcodes. They are commonly used in medical and hospitals to identify patients and access information on medical histories, medicine allergies, and other crucial details.
  • Moreover, when needed, especially in an emergency, the usage of smart labels aids in the immediate tracking of patients and medical equipment. Labels and tags compatible with numerous operations in the healthcare industry are frequently printed using thermal printers, which helps to increase patient flow, bed utilization, and asset allocation.
  • The growing use of wireless technology in portable printers has driven the market. Device manufacturers are turning away from the current all-in-one type of mobile information devices (handheld terminals) due to the widespread use of PDAs (Personal Digital Assistants), which can communicate with PCs and be controlled commercially.
  • Further, Examples include applications that require high-resolution text or graphics in small-format output (2.9"x4.1" or 4.1"x5.8") and the ultra-slim, a lightweight mobile printer from Brother. The MW Series provides simple, wireless communication with iPhone, iPad, iPod, Windows, Windows Mobile, and Android devices thanks to MFi Bluetooth wireless technology and universal operating system compatibility. Furthermore, Bluetooth-enabled phones can communicate with wireless printers within 33 feet via radio frequency at 2.4GHz.
  • However, there are drawbacks to these printers, too, as the extra heat from this printing frequently damages the print head and raises the cost of repair and replacement.
  • Moreover, almost every industry has been negatively impacted by the COVID19 problem, which has disrupted supply chains, nationwide lockdowns, and organizations considering the idea of long-term or even permanent remote working. Many businesses are currently adjusting to account for Covid-19's complex and wide-ranging consequences on the print industry.

Thermal Printing Market Trends

This section covers the major market trends shaping the Thermal Printing Market according to our research experts:

Retail Holds the Significant Share in The Market

  • Small, medium and big firms utilize thermal barcode printers frequently to label and track the products transported. It is one of the important aspects contributing to barcode printers' dominant position in the thermal printer Market.
  • Global retail store growth has made barcoding technology a must for a lean, adaptable retail industry. Many businesses struggle to keep products flowing while keeping track of them as they travel. Owners can produce the labels required to organize inventory and files, distribute goods, and more by adding a barcode maker to the mix in addition to traditional printers for receipts and invoices. Using strong, fade-resistant, heat-sensitive label stock to create barcodes assures the organization's work will not be undone over time.
  • Many players are presenting new technology to improve intelligent printing solutions for changing payment methods. One example is the SRP-Q300 3-inch (80mm) Direct Thermal cube desktop printer series from BIXOLON, which will be on display in November 2019. This series offers versatile mPOS printing at a reasonable price. For store labeling and inventory management, this thermal transfer printer is perfect.
  • Retailers continually prioritize their point of sale (POS) experience by providing customers with quick and effective services. Thermal printing is often employed for improved and fast solutions compared to traditional impact printers. Additionally, thermal printers are more affordable than conventional printers, which encourages their use.
  • Moreover, retail establishments in Europe, North America, and Europe have switched from impact printers to thermal printers. According to a CMI study, in the next five years, APEJ is predicted to account for almost half of their sales made by the top fifty economies in the globe and double North America's share of the retail market.
  • Furthermore, most businesses and organizations in China have begun to switch from traditional office equipment to local items rather than the well-known large global brands, motivated by the need for digital information and a security policy. Shortly, it will be anticipated that a sizable share of domestic printers and printing supplies will displace the current brands.
  • Additionally, Chinese producers are concentrating on printers for a specialized purpose. These consist of UV flatbed printers, label printers, and printers for blueprints. Chinese OEMs will expand and play a significant role not only in the domestic market but also in the international market as more and more Chinese firms enter the printer market.
Thermal Printing Market : Number of stores of leading retailers in the United States in 2021, in thousands

North America Account for Significant Market Share

  • Due to the rising demand for retail applications, including smart packaging, inventory management, warehousing, transportation, and logistics, North America currently retains the lion's share of the global market for thermal printing. Numerous retailers in North America have already switched, replacing their impact printers with more sophisticated, thermal-only alternatives. Businesses emphasize lowering printing costs, environmental effects, maintenance costs, etc.
  • Furthermore, the primary industries in the region where thermal printers are used are manufacturing and industrial, retail, transportation and logistics, and healthcare and hospitality. This area is home to many businesses that sell thermal printers and related products, further fueling the expansion of the thermal printer market in North America.
  • Significant players in the region, such as Zebra Technologies, Honeywell, Avery Dennison, etc., serve highly in retail, transportation, and logistics industries, which is expected to further boost the thermal printing market in North America. For instance, in February 2021, To develop and maintain an intelligent building ecosystem that offers a more seamless and improved experience for operators and occupants alike, Honeywell International Inc. announced a strategic agreement with IDEMIA, the world leader in augmented identity. The cooperation will combine IDEMIA's biometric access control systems with Honeywell's security and building management solutions to create seamless, safer, and more effective buildings.
  • Moreover, One of the biggest thermal supply converters in North America is Zebra. Zebra offers a solution for almost any application and has the broadest assortment of pre-tested, premium labels, tags, receipt paper, wristbands, cards, and ribbons. The thermal printing market is expanding yearly because of its greatest spread in this area.
Thermal Printing Market- Growth rate by region (2022-2027)

Thermal Printing Industry Overview

The thermal printing market is highly fragmented as various global and local players are in the race to innovate new technologies under thermal printing to improve work efficiency in various end-user industries. Key players are Zebra Technologies Corp., Sato Holdings Corp., Honeywell International Inc., Bioxolon, and Brother International Corporation.

  • March 2022 - Zebra Technologies Corporation launches its Reflexis solutions across Australia and New Zealand inorder to expand their portfolio across the Asia Pacific region. In contrast, Reflexis solutions provide businesses the tools to access their data to work, allowing for higher levels of security and manageability along with new analytics, which can elevate their business performance.

Thermal Printing Market Leaders

  1. Zebra Technologies Corporation

  2. Sato Holdings Corporation

  3. Honeywell International Inc.

  4. Bioxolon

  5. Brother International Corporation

*Disclaimer: Major Players sorted in no particular order

Thermal Printing Market Concentration
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Thermal Printing Market News

  • July 2022 - Toshiba Tec Corporation, Digital Garage, and to sign a Letter of Intent (LOI) to promote DX in the food service and retail industry by connecting OMO solutions to POS systems utilizing advanced technology to support Tabelog Order.
  • June 2022 - Zebra Technologies Corporation has announced its acquisition of Matrox Electronic Systems Ltd., a developer of advanced machine vision components, software, and systems which will expand Zebra's offerings in the fast-growing automation and vision technology solution space following the launch of its fixed industrial scanning and machine vision portfolio.

Thermal Printing Market Report - Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Adoption of Automatic Identification and Data Capture (AIDC) Technologies for Productivity Improvement

      2. 4.2.2 Increasing Adoption of Wireless Technologies in Mobile Printers

    3. 4.3 Market Restraints

      1. 4.3.1 High Repair and Replacement Costs

    4. 4.4 Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry


    1. 5.1 By Printer Format

      1. 5.1.1 Barcode

      2. 5.1.2 Label

      3. 5.1.3 POS (Point of Sale)/ Kiosk

      4. 5.1.4 Other Printer Formats

    2. 5.2 By Technology

      1. 5.2.1 Direct Thermal

      2. 5.2.2 Thermal Transfer

    3. 5.3 By End-User

      1. 5.3.1 Retail

      2. 5.3.2 Healthcare

      3. 5.3.3 Industrial & Manufacturing

      4. 5.3.4 Transportation

      5. 5.3.5 Government

      6. 5.3.6 Other End-Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. United States

        2. Canada

      2. 5.4.2 Europe

        1. United Kingdom

        2. Germany

        3. France

        4. Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. China

        2. Japan

        3. India

        4. Rest of Asia-Pacific

      4. 5.4.4 Latin America

      5. 5.4.5 Middle-East & Africa


    1. 6.1 Company Profiles

      1. 6.1.1 Zebra Technologies Corporation

      2. 6.1.2 Sato Holdings Corporation

      3. 6.1.3 Honeywell International Inc.

      4. 6.1.4 Bioxolon

      5. 6.1.5 Brother International Corporation

      6. 6.1.6 Star Micronics Co., Ltd

      7. 6.1.7 Toshiba Tec Corporation

      8. 6.1.8 TSC Auto ID Technology Co., Ltd

      9. 6.1.9 Avery Dennison Corporation

      10. 6.1.10 Xiamen Rongta Technology Co., Ltd

      11. 6.1.11 Axiohm

    2. *List Not Exhaustive


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Thermal Printing Industry Segmentation

Thermal printing is a digital process that uses heated, coated thermochromic paper or thermal paper to produce printed images. In many small, medium, and large enterprises, barcode, and label printers are primarily used to mark and track the products sent. These industries include retail, healthcare, supply chain, and others.

The Thermal Printing Market has been Segmented by Printer Formates (Barcodes, Labels, POS (Point of Sale), Technology (Direct Thermal, Thermal Transfer), End-Users (Retail, Healthcare, Industrial & Manufacturing, Transportation, Government), and Geography.

By Printer Format
POS (Point of Sale)/ Kiosk
Other Printer Formats
By Technology
Direct Thermal
Thermal Transfer
By End-User
Industrial & Manufacturing
Other End-Users
North America
United States
United Kingdom
Rest of Europe
Rest of Asia-Pacific
Latin America
Middle-East & Africa
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Thermal Printing Market Research FAQs

The Thermal Printing Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)

Zebra Technologies Corporation, Sato Holdings Corporation, Honeywell International Inc., Bioxolon and Brother International Corporation are the major companies operating in the Thermal Printing Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Thermal Printing Market.

The report covers the Thermal Printing Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thermal Printing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Thermal Printing Industry Report

Statistics for the 2024 Thermal Printing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thermal Printing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Thermal Printing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)