ID Card Printers Market

ID Card Printers Market

[235 Pages] According to Persistence Market Research, the ID Card Printer Market revenue totalled US$ 4,544.0 Mn for 2022. The demand for ID Card Printer will accelerate with the top 5 market players holding a prominent share of the ID Card Printer Market in 2022. The overall ID Card Printer Market is expected to reach US$ 7,213.2 Mn by 2033, growing at a CAGR of 4.3 % from 2023 to 2033.

During the forecast period, factors such as a growing working population and technological developments in card printers and ink are anticipated to drive global ID card printer market.

An electronic equipment known as an ID card printer typically lasts between five to eight years. As electronic authentication secures and compiles crucial data for numerous commercial operations, these devices are becoming more and more common. Since the procedure is frequently autonomous, running operations on behalf of the authorities only takes minimal work. Additionally, ID card printers boost efficiency and production by providing necessary checks and balances. Due to this factor the demand for ID Card Printer is increasing.

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Consumption Analysis of ID Card Printer Market from 2017 to 2022 Vs Market Outlook for 2023 to 2033

Historically, the ID Card Printer market grows at a medium CAGR of 2.0% from 2017 to 2022, with areas such as North America, Europe, and South Asia & Pacific holding a significant part of the worldwide market.

Prices for ID card printers and accessories are falling as a result of the increasing use of ID cards by end user industry such as medical, banking, educational institutions, government, and so on. They have been less expensive to produce as production has increased and technological innovations with in industry of ID card printers have occurred.

Market of RFID cards, magnetic strip ID cards, as well as other security feature-enabled ID cards is growing in response to the need for security and quick identification for students and employees. As a result of increasing need, the global market for ID card printers is expected to grow.

The global ID Card Printer Market is expected to grow at a CAGR of roughly 4.3% over the Forecasting Period.

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What are the drivers for ID Card Printer Market?

The increasing demand for Biometric applications, Electronics security, as well as the entry of supporting infrastructure such as 5G are projected to fuel the global ID card printers market growth. Vendors in the worldwide industry are aiming for improved place for printing and sales experience in order to speed up the entire manufacturing process. As a result, manufacturers in the worldwide ID card printers’ market are shifting toward thermal printing solutions. Furthermore, advancements in printing technology like 3D printing, as well as increased demand for major industries such as telecommunications, banking, and healthcare, are likely to generate substantial potential for Global ID Card Printer market.

ID card printers were only used for standard card printing. Technology advancements have enabled them to print on any surface, including uneven surfaces. The most significant opportunity for printers is to minimize electricity use and make the printer more energy efficient, boosting the market for ID Card Printer.

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What are the restraints for the ID Card Printer Market growth?

The market needs high investment and configuration requirements for printers to run smoothly, Because ID card printers are electronic devices designed to print ID cards quickly and efficiently. As easy as they sound, the bulk of these OEM-manufactured devices are unable of storing or processing information on their own, and can be thought of as easy output devices connected to a computer or a server.

Along with ID card printers, other peripherals utilised for efficient card printing, like automated magnetic strip attachments, lamination attachment, storage units, and computer systems, are necessary to function well, which may necessitate the use of specialist employees for implementation. This can be a problem for small-scale manufacturers and it appears to be impeding healthy market growth.

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Country-wise Analysis

Will the U.S. Be a Prominent Market for ID Card Printer Manufacturers?

In North America, the United States holds about 75% of the market. ID cards are increasingly being used for Banking and Education in the United States. The need for ID cards to open a bank account and for other transactions necessitates the use of high-performance ID card printers with accessories. In the banking sector, the increasing usage of cashless transactions like credit cards and debit cards is also increasing demand. Over 65% of people of the U.S use a credit card, and the figure is growing every year due to people's increased spending power. Customized graphics can be printed on new sorts of credit and debit cards using ID card printers.

What Makes China One of the Leading Countries in East Asia for ID Card Printers?

China controls about 54% of the East Asian market. China is positioned to take the lead in the region's ID card printer market. China has a big edge in East Asia due to the availability of cheap labour. Because of significant domestic demand and control over refining and production capacity, China also leads the market.

Over 100,000 companies in China make ID card printers, employing around 3Mn to 4Mn people. Main Manufacturers increase their production bases, and with the assistance of some local players, market participants gain a foothold.

What Will be the Strategy of Key Players in the Indian Market?

India holds around 21% of the South Asia Pacific area. ID cards are used in all end-use sectors, such as manufacturing, government, banks, healthcare, educational institutions, and so on. Because ID cards are in high demand, the entire printing business is very vital in India.

Printing is currently a thriving industry in India, owing to the several technologies that are now accessible in the market at very reasonable prices. Indian government also has begun steps to increase foreign investment in the printing industry. There are numerous exhibitions held in India to allow consumers to select the best products.

Category-wise Insights

Why is Retransfer ID Card Printer Technology Preferred?

Retransfer card printers account for more than 37% of the overall market. Typical ID card printers employ a technique known as direct card printing. Retransfer card printers operate by printing images on a transparent tape upside down. It can print at up to 600dpi and is also known as reverse transfer printing.

The printer speed is adjustable as needed. Printing on substances other than PVC, like PET, polycarbonate, and others, is possible with retransfer technology.

Which End User Holds Lucrative Opportunity for ID Card Printer Suppliers?

Banking, the most profitable end-use application, accounted for more than 20.8% of ID card printer demand. Because of strict regulations requiring some form of identification card, such as a national identification card, a driving license or any other type of ID card, the banking sector retains the majority of the stake.

Because of the vast number of students globally, educational institutions are another end-use application with a sizable market share. They all require ID cards in order to identify the respective universities/schools.

Which Sales Channel Will be the Preferred Mode in the ID Card Printer Industry?

The offline sales channel currently has more than 65% of the sales contribution share, the online sales channel is expected to surpass the offline sales channel in the next years.

OEM offering rebates and discounts on per-piece or bundled product sales are becoming increasingly valuable to end procurers. New ID card printer installations and retrofitting will give market participants with numerous chances.

Competitive Landscape

The worldwide ID Card Printer market is competitive, with significant manufacturers competing for a large share of the industry. To improve ID Card Printer sales, major companies are concentrating on sales and marketing efforts to retain existing customers and acquire new ones.

The ID Card Printer industry has witnessed a range of expansion tactics employed by market players in recent years, include acquisitions, mergers, and collaborations. Industry participants are spending in R&D and introducing new items to the market for their clients in order to enhance their revenue share.

ID Card Printer Industry Report Scope

Key Segments Covered in ID Card Printer Market

By Product

• Single-sided Card Printers
• Double-sided Card Printers
• High-performance Card Printers
• Standard Card Printers

By Communication Interface

• USBID Card Printers
• Ethernet ID Card Printers
• Wireless ID Card Printers

By Technology

• Retransfer ID Card Printers
• Direct-to-Direct ID Card Printers
• Rewritable ID Card Printers

By Sales Channel

• Offline Sales
• Online Sales

By End User

• Industrial/Manufacturing
• Banking
• Healthcare
• Government
• Educational Institutions
• Others

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa