The Security Printing market is expected to grow at a CAGR of 3.9% to reach USD 4.04 billion in 2028.
The security printing market comes from an ever-growing domain. Data security shall always prevail and be a priority for all the end-users. The sustainability of the market thereby, cannot be challenged. The technological reforms in most markets are either making them better or questioning its efficiency. In the case of the Global Security Printing market, technology can only better its working and never really replace its existence. This shows how rooted the security printing market has become in a short period of time.
COVID-19 Impact and the Market Status
The impact of the pandemic on the market had been very dramatic. The production and distribution chains were disrupted, and huge losses were incurred in the name of the pandemic. But, in case of the data printing market quite the contradictory situation came up. Amidst the pandemic, work platforms were changed, and data was moved regularly from one device to another. Such a circumstance invited frauds, forgery, and cybercrimes. The increase in crimes further led to widespread awareness amongst people and enterprises started investing heavily in the Data Security sector further benefiting the security printing market as well.
Lithographic Printing Evolving to Be The Most Lucrative Segment
The Global Security Printing Market has been segmented into various types of namely screen printing, digital printing, intaglio printing and letterpress printing. But the most reliable type of security print type is lithographic printing. In such valuable documents, there is no room for error. The data must be printed discretely and concisely even a misprint of punctuation can change the entire interpretation of the phrase in legal contexts. Lithographic prints are provided good quality prints where the room for error is very low. When compared to the available options and alternatives in the market, lithographic prints are considerably better in terms of quality.
Stamps And Paperwork Leave Imprints on The Sales of The Global Security Printing Market
The applications of the security printing market are printing cheques, demand drafts, stamp papers, governmental documentation, and several legal documents. The most general and widespread applications of the security printing market are governmental and legal documents. The shift in the banking culture from paper money to plastic money to now, Internet banking has reduced the need for banking documents. The use of cheques and demand drafts is still in existence but has relatively decreased. The constant requirement for legal and governmental documents is majorly the reason for their popularity in the security printing market. In the upcoming years, governments are aiming to go paperless so, it can be predicted that legal applications would be the most prevalent.
The End-User of the Global Security Printing Market
More than ? of the consumers of the security printing market are either the government or the legal firms for the secure prints of legal documents. Besides legal firms and courts, banks, MNCs, and businesses are also consumers of the security printing market. In a time when cyber-attacks and data leakage cases are surging, security printing is essential for the protection of the data of an enterprise.
North America to dominate the Security Printing Market
The regions discussed are divided as- North America, South America, Africa, Europe, Asia Pacific, and the Middle East. In the Global Security Printing Market North America has a growth share of around 40?. It is unanimously helping the security printing market progress. The rate of fraud and forgery crimes has also helped in the surging of the entire data security sector in North America. A considerable amount of growth is also estimated in Europe and the Asia Pacific during the forecast period.
The usage of security printers keeps sensitive data secure from any forgery, leakage or illegal activities. Such data often cannot be risked in terms of security and security printers just fit the role. The projected value of the Global Security Printing market would be 48.029 billion USD by 2029 and the CAGR of the market is expected to be around 7.34%.
The Global Security Printer market has evolved to be an essential commodity in the technological world. Cyber crimes are going up rapidly, especially after the course of the pandemic. This has affected the data security of many enterprises and resulted in huge losses. Thus, the investment just to keep the data safe on the cloud computing softwares isn't enough. The necessity to maintain data security even during printing is vital. Security printers unlike regular printers do not allow direct access to a device, securing the data. The use of security printers in situations where secrecy must be maintained such as product development or coding algorithms is very essential. The leakage of such information can result in dramatic expenses.
Moreover, the security printing market is expanding and scaling faster than anticipated due to its distinctive and efficient characteristics. Security printers are majorly used for the security that they provide. They help in preventing forgery, illegal printing, and tampering with labels and banknotes. They provide a mark of authentication for the receiver to differentiate between the real and the duplicated materials. This is very important when it comes to legal papers and banknotes particularly. If banknotes and legal papers are tampered with, it could result in conflicting results. This market is a very sensitive one and operates on a very thin line. The security printing market holds heavyweights of responsibilities to deliver the optimum quality security that it promises.
Furthermore, the utilization of security printing facilities has resulted to be very beneficial for enterprises. The security printers secure data even more at every step of the printing process. It also regulates the personal use of printers by the employees which further reduces the operational cost of the printer. And the most fundamental service of security printers to provide quality prints without any data leakage. Such a number of advantages make the market is very lucrative in the eyes of the data security sector as well. Thereby, the importance of the product reflects in its value too.
The Global Security Printing market is printing technique devised to secure printed data in its authentic form. This prevents any type of leakage or imitation of data. Security data, brand labels, cheques, bank passbooks, passports, stock certificates, and many such valuable documents cannot be printed without necessary measures. A secure and reliable source is required to do the job and this is why security printing service caterers are thriving in the data security market
Besides, people are not yet very aware about the availability of such technologies. Many enterprises refrain from investing in security printing systems and find data security systems like cloud softwares enough for their data protection. But, the problem with printing with regular printing systems is that gives direct access to the device data was derived from. So, in case of cyber-intervention or hacking the data can be accessed very easily. But, in the case of security printers, such a situation is very unlikely.
But there is a fair share of problems faced by the Global Security Printing Market as well. For the security printing process, one needs security printer ink and security printer paper. This printer also operates on a few other surfaces, but they are limited in number due to security reasons. Moreover, the pros of the security printing market are on the heavier side of the pedestal than the cons.
Every market has its key players, these enterprises are well-rooted in the market and hold a strong position in determining the future of the market. These key players are the brands that bring in and change the trends of the market. The market players of the security printing market are The Flesh Company, Drintech, Wellspring, Plus technologies, GSSC, Amgraf, DSS, Graphic Dimensions, Agfa Gevaert, Giesecke & Devrient and many main. Companies like Giesecke & Devrient are constantly devising new technologies and are launching improved services which is the core reason for their accomplishment.
Latest Innovations and Recent Developments in The Global Security Printing Market
- In August 2022, Cyngient and Imageworx join labelexpo to produce improved security labels.
- In August 2022, Giesecke + Devrient has developed an authentication solution to combat counterfeit and brand privacy.
Security Printing Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 48.029 billion|
|Growth Rate||CAGR of 7.34 % during 2021-2028|
|Segment Covered||Type, Application, End- User, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||The Flesh Company, Drintech, Wellspring, Plus technologies, GSSC, Amgraf, DSS, Graphic Dimensions, Agfa Gevaert, Giesecke & Devrient|
Key Segments of the Global Security Printing Market
Type Overview, 2022-2029 (USD Billion)
- Intaglio Printing
- Screen Printing
- Letterpress Printing
- Digital Printing
- Lithographic printing
Application Overview, 2022-2029 (USD Billion)
- Demand Drafts
- Identification Cards
- Legal Forms
End- User Overview, 2022-2029 (USD Billion)
- Legal Firms
- Commerce Sector
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa
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