Card printer ribbons are central components of the printer card, which ensure accurate color patterns, sharp barcodes and crisp text of the card through printing technologies. They promise sharp, vivid ID cards for the stunning employee or student badges. Some ribbons are more cost-effective than others as it depends on print, color, the design of a badge and the user’s application. Though mobile payment alternatives are becoming relative attractive, card share relatively high demand for other end uses and are more secure, and also many mobile payment applications require a companion card. Moreover, the card printer ribbons market is mainly fragmented into full-color print ribbons, monochrome print ribbons, specialty ribbons and other based on their printing types and applications.
Card Printer Ribbons Market: Drivers & Restraints
The major factors boosting the growth of the card printer ribbons market are consumer’s preference towards cashless payments, security issues, and identity proof. In addition, increasing usage of cards for withdrawal and payments is also a key driver for the growth of card printer ribbons market. Recently, consumers prefer using debit/credit cards to make payments at cafes, food chains, retail stores, and restaurants across the globe. Moreover, card printer ribbons usage for secure, healthcare IDs, the reliable personal identification that states identification cards and driver’s licenses, access control that is employee or student building access is also a more drivable factor which will uplift the growth of card printer ribbons market in upcoming years.
Card printer ribbons applications require high levels of speed, data accuracy, and reliability. Card printer ribbons include specialty printing for tickets and receipts for better customer service and productivity gains which are increasing their demand in various industry verticals such as transportation, finance, retail, and others. The requirement for secure driver’s licenses, IDs, social benefit cards, passport cards, and patient cards and healthcare access is increasing in number every year due to high adoption of digitization across the globe. In terms of industry verticals, healthcare and government sectors especially have a high requirement for privacy and security.
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Card Printer Ribbons Market: Market Segmentation
The card printer ribbons market is segmented into four parts based on the type, technology, industry verticals, and geography.
Based on the type card printer ribbons market is segmented into:
- Full Color Print Ribbons
- Monochrome Print Ribbons
Based on the technology type card printer ribbons market is segmented into:
- Inkjet printers
- Laser printers
Based on the Industry Verticals card printer ribbons market is segmented into:
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare and life sciences
- Manufacturing and Automotive
- Transportation and Logistics
- Telecom and IT
- Media and Entertainment
- Others (Education, Energy, and Utilities)
Card Printer Ribbons Market: Regional Outlook
Regarding geography, card printer ribbons market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa. Card printer ribbons market is expected to register healthy CAGR during the forecast period due to high usage of card as various types of end uses such as identity card (government as well as professional), health card, and any other. Nowadays cards are used in each and every place either it is identity card or health card, due to high security and technology advancement across the globe. In terms of developing region of Asia-Pacific, the growth of card printer ribbons is significantly high and with comparatively high CAGR in forecast period owed to factors such as such as rapid economic development, globalization, and digitalization. In addition, the wide range of primary applications of card printer ribbons market is student ID cards, club membership cards, employee ID badges, transportation ID badges, and driver’s licenses.
As organizations are more focused on improved efficiency and workflow management, increased productivity and asset utilization, real-time, actionable enterprise information, and better customer experiences. Thus, these all leads to the high demand for individual identity and representation, and through cards, organizations are achieving the same, this leads to the growth of card printer ribbons market. The card printer ribbons market is projected to register healthy growth due to new and advanced digital technologies are driving the card printer ribbons and aiding organizations to register high productivity, offers better user experience to the end-users. Card printer ribbons market for Asia Pacific is also expected to witness rapid growth during the forecast period primarily attributed to the high requirement for privacy and security personal identification that states identification cards, and cashless transaction, especially in China and India.
Card Printer Ribbons Market: Key Players
Few players identified in card printer ribbons market are:-
- Entrust Datacard
- HID Global
- Zebra Technologies
- NBS Technologies
- Ultra Electronics