Microprinting Market – Overview
Microprinting has been picking up steam for the development of identical patterns and characters with the advent of nascent printers such as photocopy machines, image scanning systems, and pantographs among others. Sales of microprinting equipment are anticipated to maintain an upward trajectory with the shifting affinity of corporate organizations towards the adoption of these systems for developing identity cards and curbing fraudulent instances.
With the increasing penetration of technology in the banking sector for ensuring utmost security, microprinting market has been benefitting significantly on account of the proliferated adoption rate of printers in these verticals. Rising requisites to comply with the standards and regulation set by the banking sector to control the counterfeit of currency notes and checkbooks is anticipated to remain a primary driver to the growth of the microprinting market, which is estimated to be valued at nearly US$ 500 Mn in 2019.
Microprinting Market – Novel Developments
Some of the significant partakers operating in the microprinting market consist of Hewlett-Packard Company, Saueressig GmbH Co KG, Brady Inc., Micro Format Inc., Xerox Corporation, Team NiSCA, Printegra, Gallas Label & Decal, Diagramm Halbach GmbH & Co. KG, Source Technologies, Huber Group, Videojet Technologies, Inc., Canon Finetech Nisca Inc., Zebra Technologies Corporation, Matica Technologies AG, SAFEChecks, Domino Printing Sciences PLC, Xeikon, Ricoh Company Ltd., Control Print Ltd., Data Carte Concepts, Evolis, Micro Format, Inc., Printegra, Spectrum Positive, William Frick and Company, and Trustcopy.
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Acquisitions and mergers have been the standard expansion strategy of the players operating in the microprinting market space. In addition, trends of development of novel printers by leveraging advanced technology and eco-friendly printers are also witnessed in the microprinting market.
- In May 2017, a subsidiary of Xerox Corporation, Global Imaging Systems completed the acquisition of MT Business Technologies with the strategic aforethought to ameliorate and expand its distribution channel. The acquisition will bear lucrative opportunities to market in Ohio besides strong sales prospects of the product in metropolitan cities such as Columbus and Cleveland.
- In July 2018, Ricoh Company Ltd announced the established of a new manufacturing facility in Dongguan Guangdong to maintain a strong foothold towards its global production competency. The new factory will encourage the production of customized products and contribute towards reaching to a decarbonized planet underpinning solar energy systems, natural ventilation, and natural lightings.
- In September 2018, Matica Technologies AG announced the launch of ID card printers PACS 300 and PACS 600, which offers micro-text, USB and Ethernet, UV printing, electronic key locks, and a high quality 600×600 dpi duplex printing. This ID card printer boasts an impressive printing competency of nearly 120 cards per hour.
Microprinting Market – Dynamics
Cost-effective Printing of Microprinting Systems to Appeal the Corporate Organizations and Governments
There has been an impressive rise in the research and development activities to broaden and innovate the purview of microprinting systems. Microprinting market participants have been endeavoring towards increasing the desirability of their product by offsetting the budget constraints impacting the sales of the systems. As a result, cost-effective microprinting technologies have been developed, which reduces the cost per print and increases the speed of per hour prints. This has, in turn, influenced the adoption rate of these printers, which is expected to remain intact in the upcoming years and contribute to the growing size of the microprinting market.
Asia Pacific to Remain a Leading Microprinting Market through 2028
With the soaring sales of consumer electronics in China coupled with their exports across a large number of countries is expected to amplify the adoption rate of microprinting systems for labeling the products and their packaging. In addition, the established banking sector in India, Japan, and China are extensively deploying these systems for printing currencies and designing checkbooks. Rising instances of fraudulent activities in the finance space with fake currencies have reinforced the need for microprinting equipment, which is anticipated to deliver lucrative growth opportunity to the microprinting market in the Asia Pacific region.
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Microprinting Market – Restraints
Digitization to Curb Lucrative Growth Prospects of the Microprinting Market
With the rising cognizance apropos of the sharing convenience of electronic documents, a notable shift to the ‘need to go paperless’ has been witnessed in a large number of corporate organizations. This in turn is underpinned by the environmental concerns pertaining to the use of paper, which in the near future is anticipated to reflect negatively on the growth of the microprinting market.
With the penetration of digitization in the finance sector, digital wallets have been gaining incessant popularity among consumers with cashbacks and offer on transactions. This is expected to take a toll on the use of paper cash, which is predicted to slowdown the growth of the microprinting market.
Microprinting Market – Segmentation
The microprinting market can be classified on the basis of the following:
- Substrate type
- Print type
- Print quality
Microprinting Market Segmentation – By Substrate Type
Depending on the substrate type, the microprinting market can be categorized into:
Microprinting Market Segmentation – By Print Type
Based on the print type, the microprinting market is segmented into:
Microprinting Market Segmentation – By Print Quality
On the basis of the print quality, the microprinting market can be fragmented into:
Microprinting Market Segmentation – By Application
Depending on the application, the microprinting market can be bifurcated into:
- Banking and Finance
The research report presents a comprehensive assessment of the microprinting market and contains thoughtful insights, facts, and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to microprinting market segments such as geographies, application and industry.
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- Microprinting market report covers exhaustive analysis on:
- Microprinting Market Segments
- Microprinting Market Dynamics
- Microprinting Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Microprinting market regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The microprinting report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with microprinting market attractiveness as per segments. The report also maps the qualitative impact of various market factors on microprinting market segments and geographies.
- Microprinting Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and Products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint