The global card printer ribbons market size was valued at USD 698.9 million in 2020 and is expected to reach USD 964.2 million by 2025, growing at a CAGR of 6.6% during the forecast period.
The global card printer ribbons market is expected to witness significant growth during the forecast period. Card printer ribbons are used in card printers to print high-quality images and text on plastic cards such as ID cards, loyalty cards, and access cards. The increasing demand for secure identification and the growing use of plastic cards in various industries are expected to drive the growth of the market.
The major players in the market include companies such as Entrust Datacard, HID Global, Zebra Technologies, Evolis, NBS Technologies, Ultra Electronics
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Card Printer Ribbons Market Dynamics
Increasing Adoption of Card Printers: The increasing use of ID cards, payment cards, and access control cards in various industries, including banking, healthcare, and government, is driving the demand for card printers. This, in turn, is driving the demand for card printer ribbons.
Advancements in Printing Technology: The development of advanced printing technologies, such as dye-sublimation and thermal transfer, is driving innovation in the card printer ribbons market. These technologies offer high-quality printing and are more efficient than traditional printing methods.
Growing Need for Security: The need for secure identification and access control systems is driving the demand for card printers and card printer ribbons. Card printer ribbons can be used to print security features, such as holograms, UV printing, and microtext, which help prevent counterfeiting and fraud.
Increasing Use of Smart Cards: The increasing use of smart cards, which are embedded with microchips, is driving the demand for card printer ribbons. These cards require specialized printing to ensure the microchip is properly embedded in the card.
Government Regulations: Various government regulations mandating the use of ID cards and smart cards for identification and access control are driving the demand for card printers and card printer ribbons.
Cost-Effective Printing: Card printer ribbons offer a cost-effective solution for printing high-quality cards in small quantities, making them ideal for small businesses and organizations that need to print ID cards or access control cards in-house.
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The market is segmented on the basis of type, technology, application, and region. On the basis of type, the market is segmented into monochrome ribbons and color ribbons. The color ribbons segment is expected to dominate the market during the forecast period due to the increasing demand for high-quality images and text on plastic cards.
On the basis of technology, the market is segmented into dye sublimation, thermal transfer, and others. The dye sublimation segment is expected to dominate the market during the forecast period due to its ability to print high-quality images and text on plastic cards.
On the basis of application, the market is segmented into ID cards, loyalty cards, access cards, and others. The ID cards segment is expected to dominate the market during the forecast period due to the increasing demand for secure identification in various industries.
On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is expected to dominate the market during the forecast period due to the increasing adoption of plastic cards and the growing demand for secure identification.
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Competitive Landscape:
The major players in the market include Entrust Datacard Corporation, Evolis, Zebra Technologies Corporation, and others. These companies are focusing on product innovation and development to maintain their position in the market. For instance, in March 2021, Entrust Datacard Corporation announced the launch of its new CR805 card printer.
The card printer ribbons market is expected to witness significant growth during the forecast period. The market is driven by the increasing demand for secure identification and the growing use of plastic cards in various industries. The market is highly competitive, with companies focusing on product innovation and development to maintain their position in the market. The major players in the market include Entrust Datacard Corporation, Evolis, Zebra Technologies Corporation, and others.
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