Microprinting
Market - Overview
The need to thwart fraudulent activities is
predicted to shape the Microprinting Market in 2020. The silicon,
wafer and fabrication reports are formed by Market Research Future, which
covers market alternatives for progress. A USD 751.8 million income potential,
is expected to be displayed with a CAGR of 5.91%.
The counterfeiting of currencies, documents, and
cheques are rising at an alarming rate globally, and this is estimated to play
out in favour of microprinting industry. The government organizations are
implementing the use of microprinting in a major way, and this is predicted to
enhance the microprinting market share in the impending period. The intensive
use of microprinting in currency is likely further to create scope for further
innovation in the microprinting market.
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Segmental Analysis
The segmental assessment of the microprinting market
is conducted on the basis of ink type, substrate type, application and region.
Based on the ink types, the microprinting market has
been segmented into special inks, magnetic inks, infrared ink marking, UV
invisible inks, micro-embossing, and others.
On the basis of substrate type, the microprinting
market has been segmented into paper, plastic, and metal.
The application-based segmentation of the
microprinting market comprises of packaging, healthcare, corporate, defense,
consumer electronics, BFSI, government, education, and others.
Based on the regions, the microprinting market is
segmented into the Middle East, Africa, North America, Europe, Asia Pacific,
and Latin America.
Detailed Regional Analysis
The regional scrutiny of microprinting market has
been conducted for the Middle East, Africa, North America, Europe, Asia
Pacific, and Latin America.
Between the regions profiled, the regional market of
the Asia Pacific is projected to govern the microprinting market. The
widespread adoption of microprinting technology in nations such as Japan and
India is directing to the advance of the microprinting market. The
microprinting technology is chiefly being applied to consumer electronics
packaging for printing product material. China is the prime producer and
supplier of consumer electronics is generating huge prospects for the progress
of microprinting market. The North American region is also projected to see
upheaval demand for microprinting technology due to the demand from the
packaging and BFSI sectors.
Competitive Analysis
The need to mitigate losses sustained by the current
public health crisis is estimated to be the sole focus of the market contenders
in the upcoming years. Furthermore, the need to adopt a rapid and
cost-effective method of operation is estimated to shape the market in the
impending period. The capability of contenders to influence change in the
market is increasing at a stable rate in the impending period. Also, the need
to encourage business to include the environmental impact of their decisions is
estimated to shape the development of the market in future. The support from
government bodies around the world is rising because the market needs an extra
stimulus to achieve normalcy in such a scenario. The disharmony in the forces
of demand and supply is estimated to create a slow growth background in the
market. The emphasis on innovation is estimated to rise in the coming years, as
the consumer needs have to be addressed in a better manner to ensure the
resurgence of the global market.
The vital competitors functioning and adding to the
progress of the microprinting market are Videojet Technologies, Inc. (US),
Hewlett-Packard Company (US), Brady Corporation (US), Domino Printing Sciences
PLC (UK), Printegra (US), Gallas Label & Decal (US), Xerox Corporation
(US), Matica Technologies AG (Germany), Team NiSCA (US), Ricoh Company Ltd.
(Japan), Diagramm Halbach GMBH (Germany). Source Technologies (US), SAFEChecks
(US), Control Print Ltd. (India), Saueressig GmbH Co KG (Germany), and Data
Carte Concepts (Canada) to name a few.
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