Printers that produce image by heating, either through some thermochromic paper or substrate such as ribbon made up of plastic are referred to as the thermal printers. The process takes place in such a way that substrate is passed over the print head, the print head heats up the substrate coating turning it black, and produces image. The thermal transfer printers are used to print barcodes, invoices, receipt, and tags. Persistence Market Research recently released a research report on the global Thermal Printer Market. As indicated by the report, the global market for thermal printer is slated to expand 1.84x by volume, whereas the market value is expected to exhibit 6.6% CAGR over the forecast period, 2018-2026.