Production Suffers Due to Lack of Government-mandated Provisions amidst COVID-19 Crisis
The identification of faculty and staff members during the COVID-19 (coronavirus) pandemic has become crucial in healthcare and business settings. This has fueled the demand for ID cards. In order to meet demands of medical staff, hospital workers, and warehouse employees, manufacturers in the ID card printer and media market are boosting their production activities to maintain steady supply chains. They are capitalizing on revenue opportunities via e-Commerce sales.
Small-scale companies in the ID card printer and media market are attempting to support the supply shortages being faced by hospitals amidst the ongoing COVID-19 situation. The identification of faculty and staff members is helping to reduce the potential risk of contamination among medical professionals. Meanwhile, some large manufacturers are facing difficulties in production due to lack of government-mandated provisions to increase output capacity. Laying off staff is another issue, which is raising concerns for manufacturers.
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Manufacturers Unlock Growth Opportunities Using Intuitive Software Features in Compact Printers
Manufacturers in the ID card printer and media market are investing in technologies that enable plug-and-play drivers in machines. Moreover, several startups are stepping into the business of ID printing, which is helping to boost market growth. Manufacturers are innovating in machines that are compact, low height, and lightweight. They are unlocking business opportunities in corporate, educational, and healthcare sectors, since customers in these industries are raising the demand for printers that can be stored in office cabinets.
Cutting-edge technologies, such as built-in notification systems and intuitive software are being preferred by users. The Magicard Pronto is gaining increased popularity for its intuitive software and easy setup attributes. Many printers are offering customization in premade templates with drag-and-drop layouts. In order to boost sales, manufacturers are offering warranties in machines.
ID Card Printers with Seamless Setup on All OS in Demand
All types of ID card printers have both pros and cons. For instance, an entry-level ID printer is affordable but has limited data encoding features. On the other hand, enterprise-grade ID printers enable high-speed batch printing but may require user training. Hence, companies in the ID card printer and media market are educating their end-use stakeholders about various pros and cons of devices so that customers can make an informed decision.
Several online news outlets are helping manufacturers in the ID card printer and media market gain recognition, since these outlets list reviews of devices. The e-Commerce has become a booming sector to increase the uptake of ID card printers and media. As such, the Badgy 100 by global leader in card printing solutions & services company Evolis, is being highly publicized for its affordable price and seamless setup on both Windows and Mac operating systems (OS).
Personalization in Services and Card Printing Bolsters Market Growth
The ID card printer and media market is slated to register a modest CAGR of 4.5% between 2022 and 2030. Manufacturers are increasing their marketing capabilities to provide reliable and flexible printing solutions to end customers. Personalization and instant issuance services are being preferred by customers. In order to grab revenue opportunities, manufacturers are building their product portfolio in a comprehensive range of printers that cater to small volume and large volume secure encoded card printing.
Smart card and RDIF technologies are acting as key growth drivers for companies in the ID card printer and media market. Add-on features in media such as lamination and customized holograms on cards are grabbing the attention of end users in government and transportation sectors.
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Pricing Strategies and AES Data Encryption Encourage Advance Bookings during Product Launches
The ID card printer and media market is predicted to surpass the valuation of US$ 6.4 Bn by the end of 2030. Manufacturers are increasing efforts to strike the right balance to make machines that facilitate the throughput of old systems with the help of modernized technology. For instance, HID Fargo— a provider of printers and encoders is gaining popularity for its DTC1500 Direct-To-Card printer, which is redefining the concept of high throughput combined with security. Brands are introducing machines that offer durability at the price of an entry-level printer.
Manufacturers are adopting jaw-dropping pricing strategies, while executing product launches to earn advance bookings for printers. They are incorporating user-friendly features in printers such as custom watermark overlay to boost sales. Password-protected printing operations are on the rise in the ID card printer and media market. AES (Advanced Encryption Standard) data encryption is adding to the peace of mind for end users.
Educational Institutes Demand Tech-savvy and High Quality Branding in ID Cards
Companies in the ID card printer and media market are taking giant strides to expand their business in the educational sector. The U.S.-based software company Entrust is increasing efforts to provide secure ID card solutions to deliver exceptional student experience. They are conducting R&D activities to identify unique needs of both school administrators and students. Companies in the ID card printer and media market are catering to the requirements of Gen Z students, as this population is tech-savvy and has high expectations from their educational institutions.
Manufacturers are increasing awareness about one card solutions that utilize mag stripes. The trend of contactless cards is gripping corporate and educational institutions. Stakeholders in the value chain are deploying printing technologies that ensure distributed issuance with a streamlined student orientation. Innovative printing technologies enable high-quality branding and printing flexibility.
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ID Card Printer and Media Market: Overview
- According to Transparency Market Research’s latest research report on the global ID card printer and media market for the historical period 2018–2019 and the forecast period 2022–2030, increasing working population and technological advancements in card printers and ink are factors expected to boost the global ID card printer and media market during the forecast period
- ID card printer is an electronic device generally in operation for about five to eight years. These devices are gaining increasing popularity as electronic authentication both secures and accumulates essential data for various commercial operations. The process is often autonomous and hence, requires little effort on the part of authorities to run operations. Moreover, ID card printer also increases productivity and efficiency with essential checks and balances.
- Various types of ID card printers are available in the market today. These include single sided ID card printers, double sided ID card printers, retransfer ID card printers, and high-performance card printers. Moreover, ID card printers can be embedded with various built-in technologies for access including Bluetooth, Ethernet, USB, and biometric. They can be rewritable in nature as well.
- Card printer ribbons (Media) are consumables in printers that are used for the printing of plastic cards either in full color format or in mono-color. Ensuring highly accurate image patterns and sharp text imprints is among the primary functionalities of the ribbon. Quality of card printing ribbons has also improved with advancements in the card printing technology. The two commonly used ribbons types are monochrome print ribbon and full color print ribbon.
- In terms of revenue, the global ID card printer and media market is estimated to exceed value of US$ 6.4 Bn by 2030, expanding at a CAGR of 4.5% during the forecast period
High Demand for Advanced ID Cards: A Key Driver
- Rising demand for electronic security, biometric applications, and influx of supporting infrastructure such as 5G are expected to drive growth of the ID card printer market. Moreover, demand for advanced and personalized ID cards has increased significantly over the past decade due to increasing working population across different sectors.
- The average life of ID card printers is about eight years from the date of manufacture, depending upon its use, post which, they are usually discarded. Considering their disposal across the world, it adds to the cumulative electronic waste. In addition, disposal of huge volumes of ribbons and papers adds to the total amount of non-degradable electronic waste generated in a year. This factor is projected to hinder the growth of the global ID card printer and media market in the near future.
ID Card Printer and Media Market: Market Trends
- Growing trends such as automation, rising application of biometric security, and adoption of IT solutions across a wide range of sectors are expected to drive growth of the ID card printer and media market
- Moreover, governments in different countries such as India, Nigeria, Japan, etc., are implementing national ID systems for financial planning, social inclusion, development planning, and service delivery & governance. Eco-friendly cards and rewritable cards are experiencing high demand across different verticals.