Rising Demand for Thermal Printing Technology to Drive Global Thermal Printing Market Growth
Posted by Tom C on February 22nd, 2023
The thermal printing market is expected to grow from USD 43.2 billion in 2020 to USD 53.5 billion by 2025; it is expected to grow at a CAGR of 4.4% from 2020 to 2025.
Growing concerns about product safety and counterfeiting, increasing use of thermal printing technology in the most recent on-demand printing applications, increasing penetration of wireless technologies in mobile printers, and increasing use of RFID and barcode thermal printers in the rapidly expanding e-commerce sector are some of the factors driving the growth of the thermal printing market.
By 2020, North America is anticipated to hold the greatest market share for thermal printing. Because to its strong economy, which supports public and private investment in innovative technology, the US dominates the market in North America. Over the forecast period, APAC is anticipated to hold the second-largest share of the thermal printing market.
In this region, thermal printer demand is mostly driven by China and Japan. Based on application, the thermal printing market has been divided into retail, logistics and transportation, manufacturing and industrial, healthcare and hospitality, government, and others. The thermal printing market for healthcare & hospitality applications is anticipated to experience the largest increase among all applications during the forecasted period. When needed, especially in an emergency, the usage of smart labels aids in the immediate tracking of patients and medical equipment. Labels and tags that are compatible with numerous operations in the healthcare industry are frequently printed using thermal printers, which helps to increase patient flow, bed utilisation, and resource allocation.
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About the AuthorTom C
Joined: July 2nd, 2020
Articles Posted: 347
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