Thermal Printing Sales in Retail Sector Expanding at over 8% CAGR: Future Market Insights
La demanda de impresoras térmicas ha experimentado un crecimiento significativo en los últimos años. Las industrias de todo el mundo están adoptando cada vez más soluciones de impresión térmica para optimizar las operaciones diarias, mejorar la identificación y el inventario de productos y evitar errores costosos. La demanda es especialmente alta en las industrias minorista, de transporte y logística. Según una firma de consultoría e investigación de mercado certificada por ESOMAR, el mercado de la impresión térmica superará los 11,80 mil millones de dólares en 2021, gracias a la rápida expansión de la industria minorista y al alto gasto en mejorar la infraestructura industrial.
The retail industry is the largest end user of thermal printing technology, it uses specialist point-of-sale POS printers designed for delivery of transaction receipts mostly to consumers. Receipt papers are direct thermal media in the lowest, but adequate, thermal grades. The industry uses both manned check-out and increasingly automated self-check-out systems. Thus, there are significant untapped growth opportunities for the thermal printing market across various geographies.
The global thermal printing market is estimated to register a CAGR of over 7.1% during the forecast period of 2021-2031.
Key Takeaways: Thermal Printing Market
· Rising at above 7% CAGR between 2021 and 2031, the thermal printing market will register impressive growth through forecast period
· Presence of a thriving retail sector will continue driving the U.S. market, enabling it to account for over 86% sales in North America
· Increasing demand in healthcare, retail, and other industries will enable the U.K. market to register over 5% y-o-y growth in 2021
· Germany and France are expected remain highly lucrative markets for thermal printing sales in Europe
· Focus on digital transformation has been enabling sales in China, while Japan and South Korea remain lucrative markets within East Asia
“Providing mobile printers with advanced wireless security and enhanced user interface features can be a successful strategy for market competitors. Moreover, players in the thermal printing market can gain substantially by focusing on expanding their mobile thermal printer offerings as industries worldwide demand high print quality output, media flexibility, and equipment that is durable and offers low-maintenance,” says an analyst.
COVID-19 Impact Analysis on Thermal Printing Market
Businesses are facing the reality and adjusting the business model to account for the effects of COVID-19 pandemic. For ensuring the business continuity plans businesses are adopting advanced technologies and various solutions to run their business smoothly. The disruption caused in the global supply chain has forced companies to look at technologies, which allow for remote manufacturing capabilities without the need for investment in large areas, as such, printing. During the pandemic, many retailers tried to optimize their online sales processes using e-commerce platforms.
Thus the market experienced a drop in growth in 2020, however it is anticipated to gain back its momentum by 2021.
Who is winning?
Top players in the thermal printing market hold a major portion of the market share. Moreover, various key players in the market strive to enter partnerships and collaborations with local and regional players in order to improve their geographic footprints.
· In April 2019, STAR MICRONICS CO., LTD. entered into a partnership with Kiosk Group, Inc., a provider of hardware and software solutions for kiosk headquartered in the U.S. According to the partnership, Kiosk Group supports the Star Micronics’ mPOP, TSP654II, TSP743II, TSP847II, and TSP143IIIU thermal printer models through Kiosk Pro Enterprise solution, which provides customers with an easy and reliable way to complete transactions with printed receipts.
Some of the key players in the thermal printing market are Honeywell International Inc., Fujitsu Ltd., HP Development Company, Zebra Technologies Corp., Seiko Epson Corporation, and Toshiba Tec Corporation.
These insights are based on a report on Thermal Printing Market by Future Market Insights