Embracing a path towards the future, the global card printer ribbons market is poised for substantial growth, projecting a robust expansion with a consistent Compound Annual Growth Rate (CAGR) of 4% throughout the forecast period from 2022 to 2028. Building on the foundation of sales reaching a valued US$ 759 million in 2021, the market is set to surge, surpassing the significant milestone of US$ 997 million by the conclusion of the assessment year in 2028.
Future Market Insights (FMI) is prepared to unveil an exhaustive comparison and analysis of the dynamic forces propelling the Card Printer Ribbon market. This comprehensive analysis is shaped by a nuanced interplay of industry-specific factors and broader macro-economic trends, including the flourishing banking sector, advancements in healthcare, and the rapid integration of technology. Noteworthy recent industry trends encompass the expansion of printer facilities tailored to specific applications, strategic mergers, acquisitions, and other pivotal developments.
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Catalysts for Growth: Elevating the Global Card Printer Ribbons Market
Retailers’ Drive for Excellence: Amplifying ID Cards and Printing Experience
Retailers worldwide are striving for elevated ID card quality and improved printing processes to invigorate manufacturing workflows and associated operations. This impetus has led card printer manufacturers to adopt thermal printing technology. Notably, significant industries are renewing their employee ID cards with cost-effective, cutting-edge technology, setting the stage for increased utilization of card printer ribbons in the foreseeable future. Furthermore, the robust demand for high-quality ID cards from the information technology sector is poised to further fortify the global card printer ribbons market.
Cashless Revolution Fuels Demand: Transforming Consumer Preferences
The shift towards cashless transactions, spurred by the widespread use of cards for withdrawals and payments, is reshaping consumer preferences. The “go cashless” trend is surging as more individuals opt for banking cards to conduct transactions across retail establishments, supermarkets, restaurants, and cafes on a global scale. Evolving customer desires for convenience, secure transactions, and the cashless experience are propelling the demand for cards across various industries. This heightened demand is expected to drive the card printer ribbons market’s growth in the forthcoming years.
Key Insights from the Global Card Printer Ribbons Market:
Lustrous Color Dominance: The color segment emerges as a focal point, exhibiting substantial promise in the global card printer ribbons market. It is poised to experience escalating demand across diverse end-use industries. Having previously led the market, this segment is set to maintain its dominance in the foreseeable future.
Dual-Sided Printing Pinnacle: Among printing types, the dual-sided printing segment takes the spotlight as the most lucrative arena. Projections indicate significant expansion during the assessment period, showcasing its pivotal role in the evolving landscape of card printer ribbons.
Banking and Government in Focus: Card printer ribbon adoption is anticipated to gain traction primarily in the banking sector, followed by government applications. The banking sphere is projected to contribute significantly, with card printer ribbon sales in this sector anticipated to surpass US$ 300 million by the close of 2028.
China’s Remarkable Inclination: China emerges as a notable player, displaying a strong affinity for card printers over the years, particularly within the manufacturing sector. This affinity has consequently stimulated the use of card printer ribbons within the country. With this momentum, China’s card printer ribbon market is poised for high-paced growth in the coming years, driven by its robust manufacturing industry and increasing adoption of advanced printing solutions.
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Key Players:
- 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.
Key Segments Covered:
By Product:
- Colour Card Printer Ribbons
- Monochrome Card Printer Ribbons
By Printing:
- Single-sided Card Printer Ribbons
- Dual-sided Card Printer Ribbons
By End-User:
- Banking
- Government
- Information Technology
- Retail
- Healthcare
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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Author:
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.
About Future Market Insights (FMI)
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