What are the drivers, opportunities, and challenges pertaining to the microprinting market

According to the new market research report "Microprinting Market by Substrate Type (Plastic, Paper, Metal), Print Type (Single-Sided, Double-Sided), Type (Monochrome, Color), Application (Banking & Finance, Government, Packaging, Healthcare, Education, Corporate), Geography - Global Forecast to 2024", The microprinting market is projected to reach USD 670 million by 2024, growing at a CAGR of 5.0% from 2019 to 2024. Standards and regulations in the banking sector, and technological advancement in microprinting technology are a few major factors driving the growth of the microprinting market.

Browse 66 market data Tables and 39 Figures spread through 137 Pages and in-depth TOC on "Microprinting Market - Global Forecast to 2024"

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=216162103

Single-sided print type to hold major share of microprinting market during forecast period

Single-side microprinting is done on check slips, stamps, official documents, medical prescription and reports, packaging labels, and a few ID cards. The growth of this market is mainly attributed to its widespread use in government, education, and corporate applications. Almost all postage stamps, check slips, event ID cards require single-sided microprinting. Moreover, the packaging industry adopts single-sided microprinting to protect products from duplicity. Matica Technologies AG (Germany), one of the leading financial card providers, offers XID8600 printer, which supports single-sided microprinting on cards. The XID8600, a premium quality printer, could be used for ID card printing. It has the ability to produce up to 120 single-sided cards per hour.

Banking & finance application to dominate microprinting market during forecast period

The banking & finance application is expected to hold the largest market share of the microprinting market during the forecast period. The growth of this market is attributed to the increasing demand from banking and financial sectors for anti-counterfeit tools and printers for counterfeit deterrence. Banking & finance application uses microprinting for various banking documents, including check slips, currency/banknotes, financial or payment cards, ID cards. Microprinting technology focuses on fulfilling these demands by printing microscopic text.

APAC to hold major share of microprinting market by 2025

APAC is likely to be the leading region in the adoption of microprinting technology. APAC is witnessing increasing use of microprinting technology-based printers owing to the presence of a large number of bank and finance organizations, government agencies, and corporate companies. Moreover, growing demand for security and anti-counterfeit measures in banking and finance, government, and education sectors is expected to drive the growth of the microprinting market in APAC. In addition, the markets in India, Japan, and China are more likely to govern the microprinting market in the coming years, in terms of adaptability and market size. Moreover, countries such as India and China are expected to witness high growth in the microprinting market because of growing developmental activities and rapid economic expansion.

Xerox Corporation (US), Videojet Technologies, Inc. (US), Matica Technologies AG (Germany), Brady Corporation (US), Zebra Technologies Corporation (US), HP Inc. (US), Ricoh Company Ltd. (Japan), Canon Finetech Nisca Inc. (Japan), Source Technologies (US), SAFEChecks (US), Xeikon (Netherlands), Domino Printing Sciences PLC (UK), Control Print Ltd. (India), Data Carte Concepts (Canada), Evolis (France), Micro Format, Inc. (US), Spectrum Positive (UK), Printegra (US), Trustcopy (Singapore), and William Frick & Company (US) are major players in the microprinting market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA : 1-888-600-6441