New York, March 21, 2023 (GLOBE NEWSWIRE) -- The global ID Card Printer market is estimated to be valued at over US$ US$ 4.54 Billion as of 2022 and ID Card Printer Market is projected to increase at 4.3% CAGR and is expected to be valued at around US$ 7.21 Billion by 2033 end.
The market is driven by the increasing adoption of identification and access control systems in various industries, including government, healthcare, education, and banking, among others.
Moreover, the rising demand for advanced security features, such as biometric authentication, smart card encoding, and holographic overlays, is also fueling the growth of the ID card printer market. Additionally, the growing trend of personalized and customized cards, coupled with the increasing use of digital printing technologies, is expected to create new growth opportunities for market players.
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The global ID card printer market is witnessing significant growth due to the increasing need for secure identification and access control systems in various industries. This report provides a comprehensive analysis of the ID card printer market, including market size, growth prospects, key drivers and challenges, and competitive landscape.
Key Takeaways from Market Study
- Enhancing product quality by implementing new technologies and adopting new, tough, and long-lasting materials and printing inks with added features at a competitive price point, while focusing on bulk production of ID cards will benefit market players.
- Manufacturers are focusing on introduction of new application-specific product offerings in order to better address customer requirements. Moreover, market players are found to be channelizing efforts toward strengthening their distribution channels while focusing on direct sales and expanding their footprint through online distribution partners.
- Banking, followed by educational institutes, is anticipated to emerge as an opportunistic segment, owing to extended use of ID cards in these end-use sectors.
- Increasing number of players focusing on R&D related to ID card printers is anticipated to have a significant contribution to market growth over the years to come.
- High performance card printers hold half of the market volume share.
- Global trade is projected to grow at a slow rate over the forecast period, due to gradual decline in international trade, owing to high cost involved and growing regional taxes. This will have a low-level impact on the growth of the ID card printer industry.
- Demand for ID card printers witnessed a slump in 2020 due to the COVID-19 pandemic, with a recorded growth of -4.2%.
“Upsurge in generation and renewal of new ID cards from banks, educational institutions, governmental offices, and healthcare in recent years is expected to provide a stimulant aggrandizement to ID card printer sales,” says a Persistence Market Research analyst.
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Competitive Landscape
The market is moderately consolidated with key players accounting for 35% to 30% market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares.
Some of the key players in this industry are Zebra Technologies Corporation, HP Inc., Quadient (Neopost SA), Entrust Corporation, HID Global Corporation, Valid USA, Kanematsu USA, Matica Technologies, Evolis, and MagiCARD Ltd.
Find More Valuable Insights
The research report analyzes demand for ID card printers. The global market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends & market background.
Segmentation:
- Based on technology, the ID card printer market is segmented into dye-sublimation, direct-to-card, and retransfer printing. Among these, the dye-sublimation segment is expected to hold the largest market share during the forecast period, owing to its high-quality printing capabilities and ability to produce durable and long-lasting cards.
- Based on end-user, the ID card printer market is segmented into government, healthcare, education, banking, and others. The government segment is expected to hold the largest market share, owing to the increasing adoption of ID cards for citizen identification, border control, and national security purposes.
- Regional Analysis: Geographically, the ID card printer market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Among these, Asia-Pacific is expected to witness the highest growth during the forecast period, owing to the increasing adoption of identification and access control systems in emerging economies, such as China, India, and Japan.
For additional insights on how the ID card printer market will shape up over the next decade, write to media@persistencemarketresearch.com
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