The global microprinting market growth is majorly driven by the widespread application of these solutions to provide highly secure and robust printing results in different organizational setup including government, private, and industrial sectors. Microprinting solutions also find wide applicability in the packaging industry.
The flourishing packaging sector will provide ample growth opportunities to companies offering these solutions. As per a new research report the global market size is projected to surpass US$800 million by 2025. Explained below are some key factors driving technology demand.
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How are illicit trade and counterfeiting impacting the microprinting market?
The globalization of trade & communication has amplified the opportunities for organized crimes, as a result, scenarios of illicit trade and counterfeiting have become an everyday affair. In the same regard, Atlanta based city Decatur gathered headlines recently by citing an increase in the circulation of counterfeit currency throughout the city. Such crimes have not only emerged as a serious economic challenge but also pose a threat to social and environmental wellbeing.
For instance, one freight container of counterfeit cigarettes signifies more than $900,000 in state and federal tax losses for the United States. The reforms enacted by law enforcement agencies pertaining to illicit trade & intellectual property crimes are anticipated to accentuate the adoption of microprinting across the globe in the time to come.
How is the brand factor pushing microprinting market trends?
Brand image is the overall impression in the customers’ mind that is molded from all information sources. No business can ever survive with a crippled brand image, and merchandise forgery can put an organization’s credibility at risk. There is an array of industries, like packaging & healthcare, which are in constant need for cost-effective and superior quality security prints, that ease the identification of products and mitigate product duplicity, while simultaneously upholding brand identity and goodwill. According to credible reports, distribution of counterfeit and substandard goods represents as much as 2.5 percent of the world trade equaling to about USD 461 billion, claims a report by Organization for Economic Co-operation and Development. In addition, the global data pertaining to customs seizures demonstrates that the brands with the most knockoffs include Rolex, Louis Vuitton, Nike, and Ray Ban. Hence, the need to avert the huge losses suffered by businesses due to forged goods and the rising need to protect brand image will accelerate the growth pace of industry.
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Asia Pacific microprinting market is expected to witness significant growth in the coming years owing to the presence of several corporate organizations, government agencies, and banks in the region. The escalating demand to have robust security and anti-counterfeit solutions in the government, private, and financial sectors will augment demand for microprinting devices in the region.
Leading companies in global market include Evolis, Xerox Corporation, Zebra Technologies Corporation, William Frick & Company, Control Print Ltd, and Videojet Technologies, Inc., among others.
Major Key Points from Table of Content:
Chapter 5. Microprinting Market, By Print Type
5.1. Key trends by print type
5.2.1. Market estimates and forecast, 2015 – 2025
5.3. Double sided
5.3.1. Market estimates and forecast, 2015 – 2025
Chapter 6. Microprinting Market, By Product Type
6.1. Key trends by product type
6.2.1. Market estimates and forecast, 2015 – 2025
6.3.1. Market estimates and forecast, 2015 – 2025
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