Semiconductor and Electronics

Card Printers Market is Expected to Reach USD 1,069.7 Million by 2031

Mar 2024

Semiconductor and Electronics

As per the report published by Kings Research, the global Card Printers Market was valued at USD 770.5 million in 2023 and is projected to reach USD 1,069.7 million by 2031, growing at a CAGR of 4.25% from 2024 to 2031.

Environmental sustainability is a significant concern for both businesses and consumers. Manufacturers are developing eco-friendly card printers that minimize energy consumption, reduce waste, and use biodegradable or recyclable materials, aligning with corporate sustainability initiatives. These eco-friendly card printers not only help companies reduce their carbon footprint but also appeal to environmentally conscious consumers. By investing in sustainable technology, businesses can demonstrate their commitment to protecting the planet and attract customers who prioritize sustainability in their purchasing decisions. As the demand for eco-friendly products continues to rise, companies prioritizing environmental sustainability gain a competitive edge in the market.

Furthermore, businesses are leveraging card printers to create personalized and customized cards that reflect their brand identity and cater to individual preferences. Advanced printing technologies enable high-resolution imaging, full-color printing, and variable data printing for unique card designs and personalized content. By incorporating their logo, colors, and messaging into the design, companies can strengthen brand recognition and loyalty among customers. In addition, personalized cards can enhance security measures by including features such as barcode or QR code encoding for easy tracking and verification.

Key Insights

  • By technology, the direct-to-card printers segment registered a significant revenue share of 53.65% in 2023
  • By end-use industry, the banking segment amounted to a notable share of 35.65% in 2023
  • By distribution channel, the direct sales segment accounted for a substantial revenue share of 39.68% in 2023

Asure ID® Software Development Kit Unveiled by HID Global

September 2023: HID Global, known for its reliable solutions in secure identity delivery, has recently introduced the Asure ID® Software Development Kit (SDK). This new development allows for enhanced card personalization software compatibility with FARGO® and various leading desktop card ID printers.

Growing Adoption of Contactless Smart Cards to Drive Card Printers Market Growth 

The adoption of contactless smart cards embedded with RFID or NFC technology is on the rise, driven by the need for convenient and secure access control, payment, and identification solutions. Card printers with encoding capabilities for smart cards are in high demand to personalize and encode these advanced cards. These printers are capable of adding personalized information to the cards, such as names and photos, while also encoding the necessary data for access control or payment purposes. As more industries and businesses adopt contactless smart card technology, the demand for these specialized printers is expected to continue to grow. With the ability to quickly and efficiently personalize and encode smart cards, these printers are essential for organizations looking to enhance their security and streamline their operations. For instance, a large corporation may use these printers to create employee ID cards with unique access permissions for different areas of the building. Additionally, a university may utilize these printers to produce student ID cards with encoded information for campus services and facility access.

Surging Demand for Secure Identification Solutions to Significantly Boost Card Printer Market Development

The increasing need for secure identification solutions in various industries such as banking, healthcare, and government is expected to drive significant growth in the card printer market. With the rise in fraudulent activities and identity theft, organizations are increasingly turning to advanced card printing technologies to enhance security measures. This surge in demand for secure identification solutions is anticipated to propel the development of the card printer market in the coming years. Furthermore, advancements in biometric technology and RFID capabilities are also contributing to the growth of the card printer market. These technologies offer additional layers of security and authentication, making them highly sought after by organizations looking to protect sensitive information and assets. As the need for secure identification solutions continues to increase, the card printer market is poised for substantial expansion and innovation to meet the evolving demands of various industries. In conclusion, the future of the card printer market looks promising as organizations prioritize security and seek out cutting-edge solutions to safeguard their operations.

North America to Dominate the Market with a CAGR of 3.49% Over the Forecast Period 2024 to 2031

Based on region, the global card printers market is classified into North America, Europe, Asia Pacific, MEA, and Latin America. North America dominated the market with a revenue share of 36.25% in 2023.  

This dominance is attributed to the high adoption of advanced technology and the presence of key players in the region. Additionally, the growing demand for secure identification cards in industries such as healthcare, government, and finance has contributed to the market growth in North America. With continuous advancements in card printing technology and increasing emphasis on security measures, the region is expected to maintain its leading position in the market in the coming years.

Companies Focusing On Product Launches and Collaborations to Fulfill Consumer Demands

The global card printers market is fragmented with key players such as Universal Smart Cards Inc., HID Global Corporation, Zebra Technologies Corporation, Evolis, Entrust Datacard Corporation, Magicard Ltd, Matica Technologies AG, SwiftColor, CIM USA, and DASCOM Americas Corporation. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

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