Growth in the manufacturing sector is slowing down compared to the boom after the 2008 economic crisis; nevertheless, it is still growing steadily, albeit at a slower pace. Automation and streamlining of manufacturing processes are being adopted by a large number of manufacturing companies worldwide to reduce time and material wastage, thereby improving efficiency and output.
Persistence Market Research presents a new report titled ‘ID Card Printers Market: Global Industry Analysis (2012 – 2016) and Forecast (2017 – 2025)’ that studies the performance of the global ID card printers market over an eight year assessment period starting from 2017 to 2025. The report presents the value and volume forecasts of the global ID card printers market and provides important insights into the factors driving market growth as well as the factors restricting market growth.
As per the assessment of Persistence Market Research, the global ID card printers market was estimated to be valued at US$ 4,000 Mn in 2017 and is anticipated to touch a valuation of nearly US$ 6,100 Mn in 2025 and in the process exhibit a CAGR of 5.6% during the period of forecast 2017-2025.
ID cards printers are electronic devices that usually last 5 to 8 years and then are discarded, which in turn cumulatively increases the electronic waste.
This factor coupled with the amount of paper and ribbons which are usually discarded adds to the total amount of non-degradable waste generated in a year. These factors have led the environmental watchers and government bodies such as the Environmental Protection Agency (EPA) to impose rules and regulations regarding the disposal of ID card printers.
The printing ink chemicals, primarily utilized as an ink source in printing, contain harmful chemicals whose disposal is a serious concern. These concerns can act as a restraint for the growth of the market in the coming years.
Manufacturers of ID card printers have been moving towards the development of greener printers that pose minimal impact to the environment, but the requirement of higher investments in such research has slowed down the rate of development.
The global ID card printers market is segmented on the basis of product type, communication interface, technology, end use, sales channel and by region.By product type, the double sided card printers segment is anticipated to reach a valuation of nearly US$ 1,650 Mn in 2025, exhibiting a CAGR of 6.9% during the period of assessment 2017-2025.
By communication interface, the USB segment was valued at nearly US$ 3,300 Mn in 2017 and is expected to register a CAGR of 5.8% during the period of forecast.By technology, the retransfer card printer segment is anticipated to reach a valuation of nearly US$ 2,350 Mn in 2025.
By sales channel, the offline stores segment was valued at nearly US$ 3,150 Mn in 2017 and is slated to exhibit CAGR of 5.3% during the period of forecast.
By end use, the industrial/manufacturing segment was valued at nearly US$ 600 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 980 Mn in 2025. By region, the North America ID card printers market was estimated to be valued at nearly US$ 650 Mn in 2017 and is likely to reach a valuation of nearly US$ 970 Mn in 2025, exhibiting a CAGR of 5.2% during the period of forecast.
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In this report, some of the key players that are operating in the global ID card printers market have been featured, which include companies such as Zebra Technologies Corporation, Evolis, HP Inc., Brady Corporation, Neopost SA, Matica Technologies AG, ID Tech Solutions Private Limited, Entrust Datacard Corporation, Unicard Technologies Pvt Ltd., Kanematsu USA Inc. (Nisca & Swiftcolour), CIM USA, HID Global Corporation, Valid USA, NBS Technologies, Entrust Data Corporation and MagiCARD Ltd.
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