- Report ID : MD1225 |
- Pages : 185 |
- Tables : 95 |
- Formats :
By Technology (recognition technology and MICR technology), By End-use (Financial Institutions, banks, Business Organizations, and government agencies), By Region(North America, Europe, AIPAC and Rest of the World)
The wide application of the MICR printers in the various sectors such as financial institutions, banks, business organizations, and government agencies are factors responsible for the significant augmentation of the MICR printer market revenue. Further, the affordable cost of the printing of the financial documents and checks is driving the market shares significantly over the forecast period. Nowadays, the money transaction has become digital. The place of the money has been replaced by plastic money. Thus, the rising digitalization in money transactions is propelling the MICR printer market sales significantly. Moreover, the need for fast secure management of documents as the number of crimes and cyber crimes are increasing day by day. This is going to affect the MICR printer market trend positively. The various features of these printers such as enabling convenient data processing areas anticipated contributing substantially to the market growth over time.
MICR Printer Market revenue is estimated to be $XX Billion in 2022 and shall grow with a CAGR of 15.8% the forecast period of 2022 to 2031.
MICR technology is extensively used in banks to print information such as cheque amount, bank code, account number, and cheque number. This technology is highly secure, highly compatible and less prone to errors. All these factors together help in expediting the processing of documents. Hybrid devices and Dual magnetic reader are the major recognition technology which is expected to generate demand for magnetic ink character recognition devices over the forecast period. However, the high cost of MICR readers and printers may pose challenges in the growth of MICR printer market sales. The increasing popularity of digital transactions across the world has augmented the MICR printer market revenue in recent years.
Asia Pacific region has accounted for about 30% of the overall market revenue in 2022:
Asia region is the dominant region in contributing to market growth in 2022. The region has contributed more than 30% of the total revenue of the market. Further, this region is anticipated to fuel up the market revenue significantly over the forecast period owing to the rising demand for scanning and printing documents in the region. Moreover, the Middle East and Africa regions are also anticipated to grow significantly over the forecast period owing to the heavy competition among the industry players in these regions.
Government agencies are likely to grow at a CAGR of 2% during the forecast period:
Based on technology, the market has been segmented as recognition technology and MICR technology. Further, recognition technology is segmented into dual Magnetic, waveform readers, hybrid device and matrix readers. The MICR printing technology is further segmented as a nonimpact MICR printer and ribbon encoding. The recognition technology segment has accounted for about 60% of the overall revenue generated in 2022. Based on the end-user industry, the market has been segmented as Financial Institutions, banks, Business Organizations, and government agencies. Out of them, the government agencies are anticipated to augment the market shares significantly over the forecast period. This segment is anticipated to grow at a CAGR of 2% during the forecast period.
MICR Printer Manufacturers:
Major industry players have been analyzed with coverage on their operating areas, revenues, and other strategic aspects. These industry players include ACOM Solutions Incorporated, Epson America Incorporated, Murni Solusindo Nusantara, Canon Incorporated, Hewlett Packard Company, MagTek Incorporated, Rosetta Technologies Incorporated, Xerox Corporation Ltd., Uniform Industrial Corporation, Source Technologies, Troy Group Incorporated, and ZIH Corporation.
Key Points covered in the Report:
• Revenue Estimation and Forecast (2022 – 2031)
• Production Estimation and Forecast (2022 – 2031)
• Sales/Consumption Volume Estimation and Forecast (2022 – 2031)
• Breakdown of Revenue by Segments (2022 – 2031)
• Breakdown of Production by Segments (2022 – 2031)
• Breakdown of Sales Volume by Segments (2022 – 2031)
• Gross Margin and Profitability Analysis of Companies
• Business Trend and Expansion Analysis
• Import and Export Analysis
• Regional Analysis and Data Breakdown
MARKET SEGMENTATION
By TechnologyOutlook ($Revenue and Unit Sales, 2022-2031)
• Recognition technology
• Dual Magnetic
• Waveform readers
• Hybrid device
• Matrix Readers
• MICR Printing
• Non- Impact MICR Printer
• Ribbon encoding
By End UseOutlook ($Revenue and Unit Sales, 2022-2031)
• Financial Institutions
• Banks
• Business Organizations
• Government Agencies
By Regional Outlook ($Revenue and Unit Sales, 2022-2031)
• North America
• Canada
• U.S
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Rest of Asia Pacific
• Rest of the World
• Middle East
• Africa
• Latin America
MICR Printer Manufacturers:
• ACOM Solutions Incorporated
• Epson America Incorporated
• Murni Solusindo Nusantara
• Canon Incorporated
• Hewlett Packard Company
• MagTek Incorporated
• Rosetta Technologies Incorporated
• Xerox Corporation Ltd.
• Uniform Industrial Corporation
• Source Technologies
• Troy Group Incorporated
• ZIH Corporation
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CHAPTER 1: INTRODUCTION
1.1. Research Methodology
1.1.1. Desk Research
1.1.2. Data Synthesis
1.1.3. Data Validation & Market Feedback
1.1.4. Data Sources
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Global Market Outlook
2.2. Core Insights - Technology
2.3. Core Insights – End Use
2.4. Core Insights – Geography
CHAPTER 3: MARKET OVERVIEW
3.1. Market Definition and Scope
3.2. Key Forces Shaping the Industry
3.2.1. Bargaining Power of Suppliers
3.2.2. Bargaining Power of Buyers
3.2.3. Threat of Substitutes
3.2.4. Threat of New Entrants
3.3. Market Dynamics
3.3.1. Drivers
3.3.1.1. Supply-side Drivers
3.3.1.2. Demand-side Drivers
3.3.2. Restraints
3.3.3. Opportunities
3.4. Industry Landscape - PESTEL Analysis
3.4.1. Political Landscape
3.4.2. Environmental Landscape
3.4.3. Social Landscape
3.4.4. Technology Landscape
3.4.5. Economic Landscape
CHAPTER 4: MARKET BACKGROUND
4.1. Industry Value Chain Analysis
4.1.1. Upstream Participants
4.1.2. Downstream participants
4.2. Pricing Analysis and Forecast, 2018-2026
4.2.1. By Type
4.2.2. By Region
CHAPTER 5: GLOBAL MICR PRINTER MARKET, BY TECHNOLOGY
5.1. Overview
5.1.1. Market Volume and Forecast, 2018-2026
5.1.2. Market Revenue (US$ Million) and Forecast, 2018-2026
5.2. Recognition technology
5.2.1. Key Market Trends, Growth Factors and Opportunities
5.2.2. Market Volume and Forecast, By Region
5.2.3. Market Revenue (US$ Million) and Forecast, By Region
5.3. Dual Magnetic
5.3.1. Key Market Trends, Growth Factors and Opportunities
5.3.2. Market Volume and Forecast, By Region
5.3.3. Market Revenue (US$ Million) and Forecast, By Region
5.4. Waveform readers
5.4.1. Key Market Trends, Growth Factors and Opportunities
5.4.2. Market Volume and Forecast, By Region
5.4.3. Market Revenue (US$ Million) and Forecast, By Region
5.5. Hybrid device
5.5.1. Key Market Trends, Growth Factors and Opportunities
5.5.2. Market Volume and Forecast, By Region
5.5.3. Market Revenue (US$ Million) and Forecast, By Region
5.6. Matrix Readers
5.6.1. Key Market Trends, Growth Factors and Opportunities
5.6.2. Market Volume and Forecast, By Region
5.6.3. Market Revenue (US$ Million) and Forecast, By Region
5.7. MICR Printing
5.7.1. Key Market Trends, Growth Factors and Opportunities
5.7.2. Market Volume and Forecast, By Region
5.7.3. Market Revenue (US$ Million) and Forecast, By Region
5.8. Non- Impact MICR Printer
5.8.1. Key Market Trends, Growth Factors and Opportunities
5.8.2. Market Volume and Forecast, By Region
5.8.3. Market Revenue (US$ Million) and Forecast, By Region
5.9. Ribbon encoding
5.9.1. Key Market Trends, Growth Factors and Opportunities
5.9.2. Market Volume and Forecast, By Region
5.9.3. Market Revenue (US$ Million) and Forecast, By Region
CHAPTER 6: GLOBAL MICR PRINTER MARKET, BY END USE
6.1. Overview
6.1.1. Market Volume and Forecast, 2018-2026
6.1.2. Market Revenue (US$ Million) and Forecast, 2018-2026
6.2. Financial Institutions
6.2.1. Key Market Trends, Growth Factors and Opportunities
6.2.2. Market Volume and Forecast, By Region
6.2.3. Market Revenue (US$ Million) and Forecast, By Region
6.3. Banks
6.3.1. Key Market Trends, Growth Factors and Opportunities
6.3.2. Market Volume and Forecast, By Region
6.3.3. Market Revenue (US$ Million) and Forecast, By Region
6.4. Business Organizations
6.4.1. Key Market Trends, Growth Factors and Opportunities
6.4.2. Market Volume and Forecast, By Region
6.4.3. Market Revenue (US$ Million) and Forecast, By Region
6.5. Government Agencies
6.5.1. Key Market Trends, Growth Factors and Opportunities
6.5.2. Market Volume and Forecast, By Region
6.5.3. Market Revenue (US$ Million) and Forecast, By Region
CHAPTER 7: GLOBAL MICR PRINTER MARKET, BY GEOGRAPHY
7.1. Overview
7.2. North America
7.2.1. Key Market Trends, Growth Factors and Opportunities
7.2.2. Market Volume and Forecast, By Technology
7.2.3. Market Volume and Forecast, By End Use
7.2.4. Market Revenue and Forecast, By Technology
7.2.5. Market Revenue and Forecast, By End Use
7.2.6. Market Revenue and Forecast, By Country
7.2.7. U.S.
7.2.7.1. Market Volume and Forecast
7.2.7.2. Market Revenue and Forecast
7.2.8. Canada
7.2.8.1. Market Volume and Forecast
7.2.8.2. Market Revenue and Forecast
7.2.9. Mexico
7.2.9.1. Market Volume and Forecast
7.2.9.2. Market Revenue and Forecast
7.3. Europe
7.3.1. Market Volume and Forecast, By Technology
7.3.2. Market Volume and Forecast, By End Use
7.3.3. Market Revenue and Forecast, By Technology
7.3.4. Market Revenue and Forecast, By End Use
7.3.5. Market Revenue and Forecast, By Country
7.3.6. Germany
7.3.6.1. Market Volume and Forecast, By Technology
7.3.6.2. Market Revenue and Forecast, By End Use
7.3.7. UK
7.3.7.1. Market Volume and Forecast, By Technology
7.3.7.2. Market Revenue and Forecast, By End Use
7.3.8. France
7.3.8.1. Market Volume and Forecast, By Technology
7.3.8.2. Market Revenue and Forecast, By End Use
7.3.9. Italy
7.3.9.1. Market Volume and Forecast, By Technology
7.3.9.2. Market Revenue and Forecast, By End Use
7.3.10. Rest of Europe
7.3.10.1. Market Volume and Forecast, By Technology
7.3.10.2. Market Revenue and Forecast, By End Use
7.4. Asia-Pacific
7.4.1. Market Volume and Forecast, By Technology
7.4.2. Market Volume and Forecast, By End Use
7.4.3. Market Revenue and Forecast, By Technology
7.4.4. Market Revenue and Forecast, By End Use
7.4.5. Market Revenue and Forecast, By Country
7.4.6. China
7.4.6.1. Market Volume and Forecast, By Technology
7.4.6.2. Market Revenue and Forecast, By End Use
7.4.7. India
7.4.7.1. Market Volume and Forecast, By Technology
7.4.7.2. Market Revenue and Forecast, By End Use
7.4.8. Japan
7.4.8.1. Market Volume and Forecast, By Technology
7.4.8.2. Market Revenue and Forecast, By End Use
7.4.9. South Korea
7.4.9.1. Market Volume and Forecast, By Technology
7.4.9.2. Market Revenue and Forecast, By End Use
7.4.10. Rest of Asia-Pacific
7.4.10.1. Market Volume and Forecast, By Technology
7.4.10.2. Market Revenue and Forecast, By End Use
7.5. REST OF THE WORLD
7.5.1. Market Volume and Forecast, By Technology
7.5.2. Market Volume and Forecast, By End Use
7.5.3. Market Revenue and Forecast, By Technology
7.5.4. Market Revenue and Forecast, By End Use
7.5.5. Market Revenue and Forecast, By Country
7.5.6. Latin America
7.5.6.1. Market Volume and Forecast, By Technology
7.5.6.2. Market Revenue and Forecast, By End Use
7.5.7. Middle East
7.5.7.1. Market Volume and Forecast, By Technology
7.5.7.2. Market Revenue and Forecast, By End Use
7.5.8. Africa
7.5.8.1. Market Volume and Forecast, By Technology
7.5.8.2. Market Revenue and Forecast, By End Use
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. MICR Printer Market Share Analysis, 2018
CHAPTER 9: COMPANY PROFILES
9.1. ACOM Solutions Incorporated
9.1.1. Company Overview
9.1.2. Financial Performance
9.1.3. SWOT Analysis
9.2. Epson America Incorporated
9.2.1. Company Overview
9.2.2. Financial Performance
9.2.3. SWOT Analysis
9.3. Murni Solusindo Nusantara
9.3.1. Company Overview
9.3.2. Financial Performance
9.3.3. SWOT Analysis
9.4. Canon Incorporated
9.4.1. Company Overview
9.4.2. Financial Performance
9.4.3. SWOT Analysis
9.5. Hewlett Packard Company
9.5.1. Company Overview
9.5.2. Financial Performance
9.5.3. SWOT Analysis
9.6. MagTek Incorporated
9.6.1. Company Overview
9.6.2. Financial Performance
9.6.3. SWOT Analysis
9.7. Rosetta Technologies Incorporated
9.7.1. Company Overview
9.7.2. Financial Performance
9.7.3. SWOT Analysis
9.8. Xerox Corporation Ltd.
9.8.1. Company Overview
9.8.2. Financial Performance
9.8.3. SWOT Analysis
9.9. Uniform Industrial Corporation
9.9.1. Company Overview
9.9.2. Financial Performance
9.9.3. SWOT Analysis
9.10. Source Technologies
9.10.1. Company Overview
9.10.2. Financial Performance
9.10.3. SWOT Analysis
9.11. Troy Group Incorporated
9.11.1. Company Overview
9.11.2. Financial Performance
9.11.3. SWOT Analysis
9.12. ZIH Corporation
9.12.1. Company Overview
9.12.2. Financial Performance
9.12.3. SWOT Analysis
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