Future Market Insights anticipates a comparison and insightful analysis for the dynamics of the Card Printer Ribbon market, which is primarily influenced by a variety of industry factors as well certain macro-economic factors including baking sector growth, healthcare development and adaptation of technology. Some of the most recent industry advancements include the expansion of printer facilities based on applications, mergers and acquisitions.
NEWARK, DE / ACCESSWIRE / August 19, 2024 / According to a Future Market Insights (FMI), the global card printer ribbon market is set to reach USD 854.4 Million by 2024 and is anticipated to grow at a steady 4% CAGR, achieving a market value of USD 1,264.8 Million by 2034. This growth trajectory reflects the rising demand for card printing solutions, driven by the increasing consumer preference for cashless payments.
Advancements in technology have significantly contributed to this demand, enabling the development of cost-efficient and reliable payment solutions. These innovations are fueling the need for high-quality card printer ribbons, as businesses and consumers alike seek secure and efficient payment methods in an increasingly digital economy.
The growth factors for the card printer ribbon market size include advancements in printing technology, increasing demand for secure and personalized ID cards, and the rise in smart card usage across various sectors. The expansion of financial services, government initiatives for digital identification, and the need for high-quality, durable prints also contribute to market growth. Additionally, innovations in ribbon materials that enhance print quality and longevity are driving demand in both established and emerging markets.
The card printer ribbons demand is influenced by the growing need for secure, customizable identification solutions in various sectors, including banking, healthcare, and government. Trends indicate a rise in demand for high-quality, durable ribbons that offer vibrant color output and resistance to wear. Additionally, the shift towards digitalization and the increasing adoption of ID card printers and systems are driving growth in the market. Innovations in ribbon technology, such as eco-friendly materials and improved printing capabilities, are also shaping the industry, catering to both functional and environmental considerations.Top of Form
Card printer ribbons are essential consumables used in direct-to-card printing systems for producing ID cards, membership cards, and other plastic cards. These ribbons are used to transfer images and text onto the surface of the card through a thermal transfer process. They come in various types, including full-color (YMCK), monochrome, and specialty ribbons for security features. Applications span across industries such as education, government, healthcare, and corporate environments, where secure and durable card printing is necessary.
Are There Any Restraining Factors That Card Printer Ribbon Suppliers Face?
"Environmental Concerns Associated with Disposal of Cards and Card Printers to Hinder Global Market Growth"
Card printers have an average life of around 8 years from the date of manufacture, depending upon their use, post which, they are usually discarded. Considering this, card printer disposal across the entire globe adds to the cumulative electronic waste. In addition, disposal of huge volumes of ribbons and papers adds to the total amount of non-degradable electronic waste generated in a year.
The printing ink used in card printing contains harmful chemicals, whose disposal can have a high negative impact on the environment. This is expected to hinder demand growth of the global card printer ribbons market to some extent.
Key Takeaways from Report:
In terms of product type, color segment is set to dominate the business with a value share of 76.4% in 2024.
Türkiye is expected to emerge as a dominating country in the business during the forecast period with an estimated CAGR of 6%.
Tier 1 companies comprise leaders with a revenue of around USD 100 Million.
The card printer ribbon market forecast projects the industry to reach a value of USD 854.4 Million in 2024.
Card printer ribbon market in South Korea to grow at 5.1% CAGR from 2024 to 2034.
Spanish card ribbon market to surge at a CAGR of 4.9% from 2024 to 2034.
"Online businesses are using loyalty and prepaid cards to simplify payments, increasing demand for high-quality card printer ribbons. Utilizing thermal technology, these ribbons produce detailed ID cards, impacting sectors like banking and manufacturing." - opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competition Outlook:
Companies are expanding their market presence by acquiring smaller firms and focusing on the reconditioned sector globally. This growth is fueled by a trend toward eco-friendly products and the rising use of digital printing technology, which is reshaping industry dynamics.
Manufacturers are enhancing card security with features like biometrics and holograms, while the adoption of cloud-based technologies is on the rise. These technologies offer lower maintenance and ease of operation, further driving industry innovation.
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Country-wise Analysis
What is the Card Printer Ribbons Market Scenario in the U.S.?
"Rising Adoption of Thermal Transfer Ribbons Fueling Market Expansion in the U.S."
Consumption of thermal transfer ribbons is expected to increase at a healthy rate due to new and sophisticated digital technologies that are assisting enterprises in achieving high productivity and providing a better user experience to end users.
Card payment methods are becoming more prevalent through point of sale (PoS), mobile point of sale (mPoS), and online terminals, which is likely to fuel the consumption of thermal transfer ribbons in the U.S. Because of the high number of retail outlets in the U.S., adoption of mPoS and PoS terminals is likely to grow rapidly.
Which Technology is Driving Market Growth in China?
"Growing Use of PVC Card Printer Ribbons Boosting Market Growth"
China has shown high inclination towards the use of PVC card printer ribbons in past years, owing to high adoption in the manufacturing industry. Moreover, this has spurred the use of PVC card printer ribbons in the country, and is expected to grow at a high rate over the coming years.
The China card printer ribbons market is predicted to grow rapidly, owing to the rising need for confidentiality personal identity such as identification cards and cashless transactions.
Key Players in the Industry:
Zebra Technologies Corporation
Evolis S.A.
ASSA ABLOY AB
Dai Nippon Printing Co., Ltd.
HiTi Digital, Inc.
Matica Technologies AG
Entrust Datacard Corporation
IDP Corp., Ltd.
Magicard Ltd.
AlphaCard
NBS Technologies Inc.
Pointman Technologies Inc.
Kanematsu USA Inc.
Best Barcode System Private Limited
Category-wise Insights
Which Product Type is Expected to Be the Largest Contributor to Card Printer Ribbon Sales Growth?
"End Users to Offer Potential Growth Opportunities for Manufacturers of Dual-sided Card Printer Ribbons"
By printing type, the dual-sided card printer ribbons segment is the most lucrative and is projected to expand at a significant rate during the assessment period
Dual-sided card printer ribbons are most preferred by end users due to their capability to hold printing ink on both sides. This feature enhances their usability as compared to single-sided ribbons.
Dual-sided card printer ribbons in the printing type category are expected to be highly attractive and the largest segment with respect to value and volume. This segment is anticipated to dominate the global market.
Which End-use Industry is Poised to Offer Lucrative Market Growth?
"Growing Banking Sector to Significantly Push Demand for Card Printer Ribbons"
The banking sector has witnessed noteworthy growth in the past several years across the globe. Governments in several developing countries are aiding their citizens to open bank accounts and are promoting the use of credit and debit cards.
Banks are looking forward to gaining incremental profitability from service or product innovations that are deployed through digital channels. This profitability can be achieved through efficiencies that are derived from process optimization and requisite operational changes. Consequently, banks are looking for better quality advanced ID cards for customers. This has pushed the demand for ID card printers and their consumables, such as card printer ribbons.
Card Printer Ribbon Market Segmentation Analysis:
By Product Type:
Color
Monochrome
By Printing Type:
Single-sided
Dual-sided
By End-use:
Banking
Government
Information technology
Retail
Healthcare
Others
By Region:
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia
Oceania
The Middle East and Africa
Browse Old Promotion of Card Printer Ribbon Market Report from Different Publications:
Card Printer Ribbons Market is predicted to top US$ 997 Mn by the end of 2028
Card Printer Ribbons Market with Current Trends Analysis 2028
About the Industrial Automation Domain at Future Market Insights:
The Industrial Automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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About Future Market Insights (FMI):
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and market analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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