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City of Industry, CA -- (SBWIRE) -- 09/06/2018 -- This report studies the global Magnetic Ink Character Recognition (MICR) Printer market status and forecast, categorizes the global Magnetic Ink Character Recognition (MICR) Printer market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
Magnetic Ink Character Recognition (MICR) printer is a printer using MICR technology. MICR is an acronym for Magnetic Ink Character Recognition; it refers to the formulation of toner used to print the specialized font at the bottom of checks and other negotiable documents.
Banks use MICR technology to print information such as cheque amount, account number, bank code and cheque number. The MICR technology has advantages such as high security, low deciphering error rate and high compatibility with existing computing systems. These advantages help in expediting the processing of documents.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
The Magnetic Ink Character Recognition (MICR) Printer industry was 133.91 million USD in 2017 and is projected to reach USD 94.91 million USD by 2025, at a CAGR (Compounded Annual Growth Rate) of -4.21% between 2017 and 2025. The market is driven by various end-user industries, such as Banking and Financial, Retail, Healthcare, Government and so on. The industry is high concentration, the key brand include HP (TROY), Lexmark (Source Technologies), Xerox, Ricoh, Canon (Oce), IBM and so on.
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The major players covered in this report
Lexmark (Source Technologies)
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering
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