Seattle, WA -- (SBWIRE) -- 03/02/2020 -- Thermal printing is a digital printing process, which is used to produce a printed image by selectively heating thermal paper when the paper passes over the thermal print head. There are two types of printing technologies namely thermal transfer and direct thermal transfer. Both methods use a thermal print head that applies heat to the surface being marked. Moreover, thermal transform printing uses a heat-sensitive ribbon instead of heat-sensitive paper, in order to produce long-lasting, durable prints. Thermal printing is predominantly used for labeling shipping products and for recording live rhythm strips on hospital cardiac monitors.
Key players operating in the global thermal printing market are: 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, and Brother International Corporation.
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Market Dynamics- Drivers
1. Growing expansion of retail industry is expected to drive the global thermal printing market growth during the forecast period
Retailers are consistently focused on their point of sale (POS) experience by offering rapid and efficient services to customers. Thermal printing is typically used for superior and high-speed solutions, which is not found in case of conventional impact printers. Moreover, thermal printers are cost-efficient as compared to conventional printers, thereby driving its adoption. Numerous retail stores in Europe and North America and Europe have started adopting thermal printers over impact printers. According to CMI analysis, APEJ is expected to account for around half of the sales by the world's top fifty largest economies and would be twice that of North America, the next largest region in the retail sector in the next five years.
2. Growing global population and increasing disposable income is expected to propel the global thermal printing market growth over the forecast period
Increasing disposable income due to rapid urbanization is expected to create hundreds of millions of middle class households in Asia Pacific. This, in turn, is expected to drive the number of discretionary purchases especially from supermarkets and major retail stores. According to United Nations (UN), global population is expected to increase from 7.2 billion in 2013 to 9.6 billion by 2050. According to the same source, this will be coupled with growth in GDP of emerging economies such as India, Brazil, South Africa, and China. This, in turn, is expected to boost the market growth over the forecast period.
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Market Opportunities
1. Growing use of thermal printers in healthcare sector is expected to pose lucrative growth opportunities
Thermal printers are used predominantly in healthcare sector for recording live rhythm strips on hospital cardiac monitors. Increasing prevalence of cardiovascular disease is expected to increase adoption of thermal printers for recording live rhythm strips, which in turn, is expected to pose lucrative growth opportunities for market players during the forecast period.
2. Increasing demand for thermal barcode printers in supply chain industry is expected to offer excellent business growth opportunities
Thermal barcodes are extensively used in supply chain industry for managing and handling different activities, information, and resources. Moreover, thermal barcode provides convenience and cost-effective solutions for management of goods, which in turn, is expected to drive the demand for thermal barcode printers from supply chain industry in the near future.
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