Card Printers Market: Introduction
Technological advancements brought by Internet of Everything (IoE), and revolutionizing traditional solicitations are facilitating the organizations as well as end-users to adopt unconventional solutions such as smart cards. These cards are utilized across various application areas including banking, retail, hospitality, travel and tourism and others. Banking and financial sector already has a huge in-use inventory of these smart cards, and in developing geographies such as Asia Pacific government is promoting digitalization and usage of smart cards. These smart cards are printed by card printers using technologies such as; Near-to-Edge Printing, Edge-to-Edge printing, and High Definition Printing. Inspite of increasing adoption of advanced access control and biometric solutions, the utilization of these cards is expected to nurture in the coming years, hence pushing the card printers market.
Card Printers Market: Drivers and Restraints
In recent years, card issuance in the banking and financial sector has increased tremendously, resulting in a huge installed base of cards. This trend is expected to continue further in the coming years as well, intending to drive the market for card printers. Also, numerous governments across the globe are working on reducing the card fraudulent activities, thus augmenting the adoption of cards. This factor is further expected to impact the card printer market in a positive manner. However, in-spite of numerous benefits associated with these cards, maintaining and regulating the usage of environment friendly card material for all manufacturers is a challenge, which is restraining the market for Card Printers.
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Global Card Printers Market: Market Segmentation
Global Card Printers Market can be segmented on the basis of printing technology, component, application, and region.
On the basis of printing technology, the Card Printers Market can be segmented into:-
- Near-to-Edge Printing
- Edge-to-Edge Printing
- High Definition Printing
On the basis of component, the Card Printers Market can be segmented into:-
- Desktop Based
- Web Based
On the basis of application, the Card Printers Market can be segmented into:-
- Banking and Finance
- Transportation and Logistics
Global Card Printers Market: Regional Outlook
On the basis of geography, Card Printers market can be segmented across seven key regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the Card Printers market in the Asia Pacific region is expected to foresee considerable growth during the forecast period owing to increase in number of government and financial projects already started and planned for commencement in the short-term. In terms of growth rates, North America and Europe are expected to experience sluggish growth in the forecast period.
Global Card Printers Market: Competitive Landscape
Few of the major player operating in the Card Printers market includes ZIH Corp (Zebra), Evolis, Magicard Ltd, Entrust Datacard Corporation, HID Global Corporation, and NBS Technologies among others.