Albany, NY -- (SBWIRE) -- 09/11/2017 -- Few security laws are mandating the use of identity cards in workplaces and educational campuses, which has led to a significant increase in card printing requirements. In recent years, the demand for more efficient card printing technologies has surged owing to the growing importance of cards. From making cashless payments to security access, cards find a wide range of application in the modern world. This, in turn, is prompting manufacturers to further enhance card printing machines and their central components. Cards are incorporated in modernized operations of government, enterprise and corporation outfits, thereby, widening the usage of card printing ribbons.
Factors as such are expected to support the growth of the global card printing ribbon market in the forthcoming years. Rapid adoption of cards in identification and security purpose management in healthcare and government organizations is also making a positive impact on the global sales of card printing ribbon. Moreover, card printing ribbons have become more cost-efficient and reliable owing to the constant improvements in the printing technology. The latest card printing ribbons offer high speed printing with optimum accuracy. As per the latest report published by Transparency Market Research, the global card printing ribbon market is set to reach a valuation in excess of US$ 830 Mn by 2022-end, expanding at a healthy CAGR between 2017 and 2022.
Card printer ribbons are consumable used in printers that are used for the printing of plastic cards either in full color format or in mono-color. Ensuring highly accurate image patterns and sharp text imprints is among the primary functionalities of the ribbon. With advancements in card printing technology, quality of card printing ribbons has also improved. The two commonly used ribbons types are monochrome print ribbon and full color print ribbon.
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Global card printing market is witnessing a steady growth due to increasing use of cards across domains. Moreover, technological advancements resulting in timely upgrades of card printing machines is projected to drive the demand for card printing ribbon over the next couple of years. Apart from this, increasing application of cards in sectors such as BFSI, healthcare and corporations is creating a substantial amount of card printing requirements.
The report also offers the value chain analysis on the card printing ribbon market using porter's five forces methodology. The card printing ribbon market estimates are results of in-depth primary interviews, secondary research and a thorough review by an in-house panel of experts. These market estimations have been validated by considering the impact of various judicial, political, social, economic and technological factors in accordance with the current market scenario. In order to provide up-to-date information about the latest developments in the global market for card printing ribbon, the report offers updates about growth opportunities for players operating in the market.
Data center IT asset disposition market is segmented on the basis of product type and application sector. Based on product type the global market for card printing ribbon is categorized into full color print ribbons and monochrome print ribbons. Among these two product types, full color print ribbons is the leading product type and expected to supplement the growth of the market for card ribbon in the foreseeable future. On the basis of application sector, the global market for card printing ribbon is categorized into BFSI, government, corporate, retail & hospitality and other. Among these, the retail & hospitality segment is expected to remain highly attractive over the next couple of years.
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In terms of revenue, Asia-Pacific excluding Japan (APEJ) market is will dominate the global card printing ribbon market between 2017 and 2022. The region's card printing ribbon market is projected to exhibit a sound growth over the next couple of years. This is primarily owing to rapid adoption of cards across sectors in countries such as China and India.
On the basis of product type, sales of full color print ribbons will remain relatively higher in 2017 and beyond. Currently, global sales of full color print ribbons represent close to 77% revenue share of the market. Towards the end of 2022, over US$ 600 Mn worth full color print ribbons are anticipated to be sold across the globe.
Prominent market players profiled in Transparency Market Research's report include Zebra Technologies Corporation, IdentiSys Inc., Entrust Datacard Corporation, HID Global Corporation, Evolis SA, NBS Technologies Inc., AlphaCard, Dai Nippon Printing Co., Ltd., Unicard Systems Pty. Ltd., and Idp Corporation.