[12-Nov-2019] Meticulous Research® – leading global market research company is researching on Microprinting market titled “Microprinting Market by Substrate Type (Paper, Plastic, Metal), End-use Industry (Healthcare, Education, Government, BFSI, Consumer Electronics, Packaging, Transportation and logistics, Others), Applications (ID Cards, Labels, Stamps, Bank Cheques, Corporate, Defence, Others), Colour (Monochrome and Colour), Pattern (Infrared Ink Marking, UV Invisible Marking, Micro Embossing, Magnetic Ink, Special Ink), Print Type (Single-sided, Double sided) and Region – Global Forecast to 2025”.
Rapid growth in the e-commerce sector is forcing industries to provide proper packing and identification facilities for avoiding duplication, and this is driving the growth of microprinting market. Moreover, increasing adoption of microprinting technique for proper packaging in order to avoid duplication and ease of identification; rapidly increasing demand for high-quality secured prints to identify and discriminate diverse packaged products; and increasing adoption of microprinting techniques in passports, identity cards, and other important documents in several organizations is also driving the growth of microprinting market.
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The Banking and Finance Segment is Expected to Witness the Highest CAGR during the Forecast Period
Based on end-use industry, the microprinting market is segmented into healthcare, education, government, BFSI, consumer electronics, packaging, transportation & logistics, and others. Among these, the BFSI segment is projected to grow at the highest rate in the coming years. The adoption of this printing technique is growing rapidly in the BFSI domain for anti-counterfeit tools and printers for fraudulent deterrence. Mostly, the banks are integrating advanced security facilities to protect bank currency from counterfeiting.
Single-Sided Print Type to Witness Fastest CAGR During the Forecast Period
Based on print type, the microprinting market is segmented into single sided and double sided microprinting. Among these, single-sided microprinting is expected to account for a larger share of the global microprinting market. The growth is mainly attributed to the wide acceptance of single-sided microprinting for employee and membership ID cards, mostly in government, education, and corporate applications. Also, increasing adoption of microprinted postage stamps and event badges are further pushing up the microprinting market.
Asia-Pacific: The Fastest Growing Regional Market
Geographically, North America, comprising the U.S. and Canada, accounted for the largest share of the global market. However, Asia-Pacific is expected to witness rapid growth during the forecast period. Many banks, government financial, and corporate organizations are available in this region which are noticing increased use of microprinting technology-based printers. Increasing development activities and rapid economic expansion in the Asia-pacific region are expected to witness the high growth in the microprinting market. Moreover, standards and regulations in the banking sector, expanding e-commerce sector, and technological advancement in microprinting technology in BFSI domain are the key factors driving the growth of the Asia-Pacific microprinting market.
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Microprinting Market Segmentation Analysis
The microprinting market is segmented into by substrate type (paper, plastic, metal), end-use industry (healthcare, education, government, BFSI, consumer electronics, packaging, transportation and logistics, others), applications (ID cards, labels, stamps, bank cheques, corporate, defence, others), colour (monochrome and colour), pattern (infrared ink marking, UV invisible marking, micro embossing, magnetic ink, special ink), print type (single-sided, double sided), and by region.
Based on substrate type, the microprinting market is segmented into Paper, Plastic, and Metal. Among these, the paper segment is expected to be the fastest growing category in the market. The paper sector is on high growth trajectory due to the high implementation of microprinting technology in paper banknotes, check slips, postage stamps, payment cards and ID cards to improve security and ease of identification.
Based on application, the microprinting market is segmented into ID cards, labels, stamps, bank cheques, corporate, defence, and others. Among these, ID cards are the most popular applications of microprinting, giving a further push to the market. Businesses and governments have been rapidly adopting the microprinting technique used for ID cards to control their misuse and prevent fraudulent activities.
Based on end-use industry, the microprinting market is segmented into healthcare, education, government, BFSI, consumer electronics, packaging, transportation & logistics, and others. Among these, the BFSI segment is projected to grow at the highest rate in the coming years, due to increasing adoption of microprinting technique in the BFSI sector to eliminate the duplication of currencies and checks.
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This post was originally published on Commerce Gazette