DUBLIN, Dec. 22, 2021 /PRNewswire/ — The “Global Security Printing Market By Function, By Application, By Regional Outlook, Industry Analysis Report and Forecast, 2021 – 2027” report has been added to ResearchAndMarkets.com’s offering.
The Global Security Printing Market size is expected to reach $3.8 billion by 2027, rising at a market growth of 4.5% CAGR during the forecast period.
Security printing is primarily utilized for printing items which requires authentication like postage stamps, identity cards, passports, product authentication, banknotes, and stock certificates. Security printing includes holograms, copying marks, security threads, watermarks, anti-magnetic inks, serial numbers, micro-printing, special paper, and intaglio printing. With the help of security printing, it is possible to minimize the number of growing illegal activities like counterfeiting, tempering, and forgery.
The major factor driving the growth of the market is security inks. Similarly, the implementation of laws along with security regulations is anticipated to fuel market growth in the coming years. Additionally, tampering & alteration in branding of industry products and growing fraudulent activities in tax & postage stamps, financial institutions, and personal identities are some other determinants boosting the market growth. Moreover, growing awareness about counterfeit and fraud activities among customers is projected to boost market growth in the forthcoming years.
Additionally, security printing ensures the necessary aspects of protection due to which several computer systems are dependent on it. Moreover, holographic stickers are used to protect various software products against forgery. Holographic stickers are designed in such a way that it gets tear when it is detached from the product. Thus, security printing is in high demand among the manufacturers of above-mentioned items as it ensures the customer that the product has not been modified after the dispatch, thereby, these kinds of security measures are necessary to gain the trust of the customer.
COVID-19 Impact Analysis
Due to the outbreak of the COVID-19 pandemic, various industries experienced a negative impact including the security printing industry. At the beginning of the pandemic, Asia-Pacific and Europe were the regions that were severely affected by it. During the initial phase of pandemic, the number of COVID-19 patients drastically increased in these regions. Keeping in view the growing transmission rate of COVID-19 pandemic, the governments of several nations-imposed lockdown restrictions and other such norms. The imposition of lockdown hampered the production of security printing as there was a shortage of labor.
Market Growth Factors:
Growing applications in the finance and banking sectors
For specific applications of security printing, manufacturers are focusing on designing new products as the demand for new products is increasing based on their utilization at different places. In addition, the new products are integrated with enhanced security features that are very effective at several applications. Additionally, the finance and banking sector deals with the printing of cheques, banknotes, identity cards, stock certificates, and authentication and hence these sectors are witnessing massive application of security printing.
The rise in adoption of security printing for currency printing
For better regulation and governance, several manufacturers in the market are focusing on bringing advancements in technologies that are being used in currency printing. The presence of fake currencies in the market has a negative impact on the economy of nations as the international value of the original currency is getting reduced, which significantly slows down the economy of nations. Moreover, the spread of fake currency has a direct effect on the prices of commodities. Thus, governments across the globe are implementing measures to eliminate or minimize the presence of fake currencies in the economy.
Market Restraining Factor:
Rapid shift towards a cashless economy and digitalization in identification cards
As the world is rapidly evolving, technological advancements are also growing. Due to these technological advancements, the nations are moving towards digitalization and a cashless economy. Cashless economy is the physical stream of national denomination being replaced with online or digital platforms like the launch of plastic cards, internet banking, and online transactions. This evolution has reduced the use of national currency due to which, security printing is witnessing a slowdown in its demand.
Based on Function, the market is segmented into Lithographic Printing, Digital Printing, Letterpress Printing, Screen Printing, Intaglio Printing and Others. In comparison to other forms of printing, lithographic printing offers a more consistent and high quality of the image. Further, the latest in-line multi-press print systems integrate holographic application, numbering, intaglio, flexographic printing, rotary screen, and imaging of variable data allowing a single-pass and cost-effective operation. Moreover, lithographic printing is majorly used for asset management, government and corporation printing, brand protection, event pass & tickets generation, and cheque & value documents printing.
Based on Application, the market is segmented into Legal & Government Documents, Cheques, Certificates and Others. The counterfeiting practices are rampant in the printing of banknotes, postage stamps, stock certificates, contraband, identity cards, and passports. Moreover, security printing helps in protecting the aforementioned documents from counterfeiting and forgery. Banking Financial Services and Insurance (BFSI) and supply chain are the major end-market verticals that are using security printing. Further, birth & death certificates, unique personal IDs, legal stamps, driving licenses, and passports are only issued by legal authorities.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The Asia-Pacific is anticipated to exhibit a significant growth rate over the forecasting period. This prominent growth in the region is supported by growing implementation of the latest technology associated with security printing in nations such as Japan, China, and India. Additionally, the growing concerns about fake currency, terror funding, and corruption are driving the growth of the regional market. Moreover, determinants like alternative modes of payments (including bank checks and payment cards), large-scale ID programs initiated by companies, and high demand for cash transactions are creating new growth avenues for the regional security printing market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Document Security Systems, Inc., Agfa-Gevaert N.V. (IG Farben), Ennis, Inc. (Printegra), Graphic Dimensions, Inc., Plus Technologies LLC, TROY Group, Inc., Wellspring Software, Inc., Amgraf, Inc., Graphic Security Systems Corporation, and Printech Global Secure Payment Solutions LLC.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
18.104.22.168 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Recent Industry Wide Strategic Developments – Global
3.1 Partnerships, Collaborations and Agreements
3.2 Product Launches and Product Expansions
3.3 Acquisition and Mergers
3.4 Geographical Expansions
3.5 Top Winning Strategies
3.5.1 Key Leading Strategies: Percentage Distribution (2017-2021)
Chapter 4. Global Security Printing Market by Function
4.1 Global Lithographic Printing Security Printing Market by Region
4.2 Global Digital Printing Security Printing Market by Region
4.3 Global Letterpress Printing Security Printing Market by Region
4.4 Global Screen Printing Security Printing Market by Region
4.5 Global Intaglio Printing Security Printing Market by Region
4.6 Global Other Function Security Printing Market by Region
Chapter 5. Global Security Printing Market by Application
5.1 Global Legal & Government Documents Security Printing Market by Region
5.2 Global Cheques Security Printing Market by Region
5.3 Global Certificates Security Printing Market by Region
5.4 Global Others Security Printing Market by Region
Chapter 6. Global Security Printing Market by Region
Chapter 7. Company Profiles
7.1 Document Security Systems, Inc.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 Recent strategies and developments:
22.214.171.124 Geographical Expansions:
7.2 Agfa-Gevaert N.V. (IG Farben)
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Regional & Segmental Analysis
7.2.4 Research & Development Expenses
7.2.5 Recent strategies and developments:
126.96.36.199 Partnerships, Collaborations, and Agreements:
188.8.131.52 Acquisitions and Mergers:
184.108.40.206 Product Launches and Product Expansions:
7.3 Ennis, Inc. (Printegra)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Recent strategies and developments:
220.127.116.11 Acquisitions and Mergers:
7.4 Graphic Dimensions, Inc.
7.4.1 Company Overview
7.5 Plus Technologies LLC
7.5.1 Company Overview
7.5.2 Recent strategies and developments:
18.104.22.168 Partnerships, Collaborations, and Agreements:
22.214.171.124 Product Launches and Product Expansions:
7.6 TROY Group, Inc.
7.6.1 Company Overview
7.6.2 Recent strategies and developments:
126.96.36.199 Partnerships, Collaborations, and Agreements:
7.7 Wellspring Software, Inc.
7.7.1 Company Overview
7.8 Amgraf, Inc.
7.8.1 Company Overview
7.9 Graphic Security Systems Corporation
7.9.1 Company Overview
7.10. Printech Global Secure Payment Solutions LLC
7.10.1 Company Overview
For more information about this report visit https://www.researchandmarkets.com/r/fz3q1w
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