Published Date: 24-Nov-2021
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According to a new report Global Security Printing Market, published by KBV research, The Global Security Printing Market size is expected to reach $3.8 billion by 2027, rising at a market growth of 4.5% CAGR during the forecast period.
The lithographic printing segment dominated the security printing market by obtaining the highest revenue share in 2020 and is anticipated to continue this dominance over the forecasting period. Among all segments of printing production, lithographic printing is the most famous and used printing method. A wide range of possibilities came along with the lithographic printing revolution. Moreover, lithographic printing has played a vital role in security printing, revolutionized the history of slow & complex printing, and increased the speed of printing.
The legal and government documents application segment acquired the maximum revenue share of the security printing market in 2020 and is anticipated to display a promising growth rate during the forecast period. Factors such as the rising tourism industry, increased demand for visas & passports and printing, reprinting, and circulation of currency are responsible for the growth of this segment.
North America procured a prominent market share of the security printing market in 2020 and is estimated to exhibit a promising growth rate during the forecast period. The dominance of North America over other regions is attributed to the high implementation rate of the screen and lithographic printing across the region. Nations like Canada, Mexico, and the US are the major implementers of the latest printing techniques in several manufacturing processes. Europe will display a substantial growth rate over the forecasting years. This is attributed to the rise in implementation & migration of the latest technology to combat the growing rate of fake currency, money laundering, and corruption.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Document Security Systems, Inc., Agfa-Gevaert N.V. (IG Farben), Ennis, Inc. (Printegra), Graphic Dimensions, Inc., Plus Technologies LLC, TROY Group, Inc., Wellspring Software, Inc., Amgraf, Inc., Graphic Security Systems Corporation, and Printech Global Secure Payment Solutions LLC.
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