According to a latest study conducted by Transparency Market Research, the global market for card printing ribbon will surge at a healthy CAGR during 2017 to 2022, and surpass US$ 830 Mn in revenues. Enforcement of new safety and security regulations has made the utilization of identity card obligatory in many educational institutes and offices, which, in turn, has resulted in an uptick in card printing requirements. There has been a significant rise in demand for card printing machines due to increasing application of cards. Today, cards have multiple applications right form being a security management tool to being a mode transactions. Card are utilized in the modern operational structures of enterprise, corporation and government outfits and hence widening the functional applicability of card printing ribbons.
The aforementioned factors are projected to propel the growth of the global market for card printing ribbon in the near future. Also, increasing adoption of the cards in security and identification management systems particularly is government and healthcare organizations is expected to reflect favorably on card printing ribbon sales across the globe. In addition, card printing ribbons are becoming more reliable and affordable due to incessant technological enhancements. Manufacturers are actively focusing on development and introduction of ribbons that support high speed printing as well as offer maximum accuracy.
Global Market for Card Printing Ribbon Market – Key Highlights
- On the basis of product type, the full color print ribbons segment will continue to outperform the monochrome print ribbons segment during the forecast period. In terms of revenue, the full color print ribbons segment is anticipated to represent for more than two-third share of the global market by the end of 2017. In addition, the segment is slated to surpass a market valuation of US$ 600 Mn by 2022-end, reflecting a steady CAGR. The monochrome print ribbons segment is set to reach a market valuation in excess of US$ 170 Mn over 2022.
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- Based on sectors, the retail & hospitality segment is projected to retain its dominant position throughout the assessment period. Currently, the segment accounts for around 33% market share in terms of revenue and is projected to exhibit an optimistic growth over 2022. Meanwhile, the BFSI segment will hold the second spot and surpass a market valuation of US$ 280 Mn by 2022-end.
- Among regions, the card printing ribbon market in Asia-Pacific excluding Japan (APEJ) is anticipated to remain highly attractive in between 2017 and 2022. The region’s market is expected to surge at a relatively faster rate as compared to other regions. Presently, the APEJ card printing ribbon market represents for almost 31% revenue share.
Competition Tracking
IdentiSys Inc., HID Global Corporation, NBS Technologies Inc., Dai Nippon Printing Co., Ltd., Idp Corporation, Zebra Technologies Corporation, Evolis SA, Unicard Systems Pty. Ltd., Entrust Datacard Corporation, and AlphaCard are among the top companies operating in the global market for card printing ribbon.
