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Thermal Printer Market : US Poised to Achieve Continuing Growth| grow at a CAGR of 4.3%
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The global thermal printer market was valued at approximately $4.4 billion in 2020 and is expected to reach $5.8 billion by 2027, growing at a CAGR of 4% from 2021 to 2027. This growth is driven by several factors, including the increasing demand for barcode and label printing, the growing use of thermal printers in the healthcare industry, and the rise of e-commerce.
Barcode and label printing is a key application of thermal printers, and this is one of the major factors driving the growth of the thermal printer market. Barcode labels are widely used in retail and logistics for inventory management, tracking, and product identification. Thermal printers are ideal for printing these labels as they are fast, efficient, and produce high-quality prints.
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The healthcare industry is another key driver of the thermal printer market. Thermal printers are used extensively in healthcare for printing patient wristbands, medication labels, and laboratory specimens. These printers are preferred over other printing technologies as they are durable, produce high-quality prints, and are easy to use.
The rise of e-commerce is also contributing to the growth of the thermal printer market. With the increasing popularity of online shopping, the demand for shipping labels and packing slips has risen significantly. Thermal printers are widely used in the e-commerce industry as they can produce high-quality prints quickly, and are cost-effective.
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The transportation and logistics industry also relies heavily on thermal printers for applications such as shipping labels and tracking codes. The ability to print durable barcodes that can withstand harsh environmental conditions makes them a popular choice in this sector. In conclusion, the thermal printer market is poised for significant growth over the next few years due to its versatility and reliability across multiple industries. As businesses continue to seek cost-effective solutions while maintaining quality standards, it is likely that we will see even more innovative applications of this technology emerge in the near future.
Companies Covered in This Report -
Avery Dennison Inc.
Seiko Epson Corporation
Toshiba Tec Corporation
Zebra Technologies Corp
TSC Auto ID Technology Co., Ltd
SATO Holdings Corporation
Honeywell International Inc.
Bixolon Co., Ltd
HellermannTyton Group PLC
TE Connectivity Ltd
Brady Corporation
CognitiveTPG, LLC
Star Micronics, America, Inc.
Bematech International Corporation
Gainscha Technology Group Company
Citizen Systems Japan Co., Ltd.
Shandong New Beiyang Information Technology Co., Ltd
Shenzhen ICOD Digital Co., Ltd
TransAct Technologies Incorporated
Domino Printing Sciences PLC
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