The Microprinting market was valued at US$490.17 million in 2017 and is estimated to grow by a CAGR of 4.8% over the forecast period from 2018 to 2026.
Counterfeiting is one of the biggest problems faced by modern human civilization, which not only costs governments and brands around the globe but also affects millions of jobs around the globe. More than 5.4 million people worldwide are expected to lose their jobs due to piracy and counterfeiting cases in a recent report published by the European Union Intellectual Property Office (EUIPO) and the Organization for Economic Cooperation and Development (OECD). Governments and global brands undertake several methods of fighting forgery and microprinting is one of the best ways to overcome such illicit action to a greater extent. Microprinting market and related business are gaining momentum due to the aforementioned factor.
Microprinting is used across multiple applications such as currencies, stamps, official documents, and bank drafts & cheques to ensure the authenticity of such high-value documents. In addition to these documents, consumer product, white goods, and packages & logistics also use microprinting on a considerable scale to facilitate and organize the structure of storage and distribution. In addition, the significance of microprinting in the application of defense and access control cards is also steadily increasing. Incorporation of novice technology such as UV & infrared inks, magnetic inks, and other special inks to strengthen the authenticity of microprinting. The overall microprinting market is expected to grow multifold along with the growth in the above-mentioned applications.
Few of the major notable players profiled in this research study include
- Hewlett-Packard Company,
- Zebra Technologies Corporation,
- Diagramm Halbach GmbH & Co. KG,
- Gallas Label & Decal,
- Team NiSCA,
- Micro Format Inc.,
- Brady Inc.,
- Saueressig GmbH Co KG.,
- Videojet Technologies, Inc.,
- HP Inc.,
- Ricoh Company Ltd.,
- Huber Group,
- Xerox Corporation,
- Canon Finetech Nisca Inc. among others.
Global microprinting market is characterized by a number of small as well as global players and hence are highly fragmented. Microprinting is associated with critical and classified documents and hence the companies involved in microprinting market needs to build their creditability. Acquire long term government contracts is one of the prime business strategies adopted by major microprinting companies. Several other business strategies are discussed in detail in the research study.