The micro printing market is expected to register a CAGR of 5% during the forecast period.The demand for micro printing machine has arisen due to focus on detecting and preventing fraudulent activities. The global market has witnessed tremendous growth due to its global adoption across different verticals, especially for driving licenses and employee ID cards.
What are the Key Drivers of Micro Printing Market?
The main factor that drives the growth of the market is development and introduction of innovative products and services.
The US$ 100 bill has been released recently with micro printing along the quill of the note. Development of cost-effective micro printing technology has further enhanced its application range along different verticals.
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The global micro printing market is quite mature and there is limited scope for new entrants to survive. The different universities around the world are researching on micro printing to enhance its scope and fuel future opportunities.
Researchers from Penn State University have recently discovered cost-effective artificial cells using micro printing technology, which can be used for drug and gene delivery devices.
How is the Micro Printing Market Segmented?
On the basis of type, the global micro printing market is categorized into – micro- embossing, special inks, magnetic inks, UV invisible inks, infrared ink marking and others.
On the basis of application, global micro printing market is categorized into – currency, stamps, bank cheques, labels, defense, packaging, ID cards, consumer electronics, micro printer and others.
On the basis of geography, global micro printing market is divided into – North America, Latin America, Asia Pacific, Japan, Eastern Europe, Western Europe and Middle East & Africa.
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What are the Demand Drivers in the Micro Printing Market?
The micro printing service is used as an additional security measure by the government and corporate companies for providing license and employee identity card. The micro printing provides easy detection and prevents misuse of fraudulent or duplicity of the things of importance.
Packaging and ID card are the segments which are expected to witness the highest growth during forecasted period. The micro printing has an increasing scope to be used in biomaterials and bio sensing applications. There are innovative products like microprint pen, patented by Google to create a unique mark.
There is a need to understand the value chain for micro printing market that include product OEMs, contract manufacturers, service providers, component suppliers, system integrators, maintenance providers and others in order to understand and exploit current market dynamics.
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