Banknote is a promissory note which is issued by banks that is payable on demand to the bearer. The production and distribution of new banknotes and destruction of the unfit banknotes is the responsibility of the central bank of the respective countries.
Albany, NY -- (SBWIRE) -- 09/18/2015 -- The demand for banknotes and substrate is fulfilled by state print works (SPW), state paper mills (SPM) and handful number of commercial print and paper manufacturers. SPWs and SPMs can also turn in to commercial providers to cater the unmet demand for banknotes.
As per the global banknote market, the demand for banknotes will continue to grow globally with varied demand growth across different countries as per their economic conditions. The production and issuance of banknotes are impacted by decisions of the central banks. Despite the increase in usage of electronic mode of payment, demand for holding cash remains strong.
During the period of financial crisis, cash appear to be the only reliable source and the demand for cash at that point of time rises sharply due to the faith of people in real currency. The central banks, governments and commercial organizations depend on currency manufacturers and their products to deliver security and confidence to combat counterfeiting and illicit trade of banknotes. Hence, with latest banknote technology there lies a bright future for cash.
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The key trends observed in the market include adoption of polymer banknotes, change in behavior of customers and color changing, as a dominant security feature in banknotes. But there are certain challenges too which include counterfeiting & security issues, overcapacity leading to pricing pressure and rise of digital or cashless payment among others. The market's main growth drivers include financial instability of the economy, GDP of the economy and retirement of banknotes.
Table of Contents:-
3. Market Dynamics
3.1 Growth Drivers
3.1.1 Financial Instability of the Economy
3.1.2 GDP of the Economy
3.1.3 Retirement of Banknotes
3.2 Key Trends
3.2.1 Adoption of Polymer Banknotes
3.2.2 Change in Behavior of Customers
3.2.3 Color Changing Security Feature in Banknotes
3.3 Significant Developments
3.3.1 Australian Banknotes for People with Vision Impairment
3.3.2 New Product Developments
3.4 Challenges
3.4.1 Counterfeiting & Security Issues
3.4.2 Rise of Digital or Cashless Payment
3.4.3 Secured Production of Banknotes
3.4.4 Overcapacity Leading to Pricing Pressure
4. Competitive Landscape
4.1 Global Market
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5. Company Profiles
5.1 De La Rue plc.
5.1.1 Business Overview
5.1.2 Financial Overview
5.1.3 Business Strategies
5.2 Geisecke & Devrient (G&D) Group
5.2.1 Business Overview
5.2.2 Financial Overview
5.2.3 Business Strategies
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