Technavio analysts forecast the global security paper market to grow at a CAGR close to 3% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global security paper market from 2018-2022. (Graphic: Business Wire)
The growing adoption of inorganic growth strategies is one of the major trends being witnessed in the global security paper market 2018-2022. The global security paper market is fragmented with the presence of both regional and international vendors. Therefore, vendors in the market are adopting inorganic growth strategies to implement new security solutions and to share the existing technology for mutual benefit. This strategy not only helps the vendors to improve their technology but also helps them expand their geographical presence, which will contribute to the growth of the global security market during the forecast period.
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According to Technavio analysts, one of the key factors contributing to the growth of the global security paper market is the growing global bank note market:
Global security paper market: Growing global bank note market
Although the digital payment system is growing across the globe, hard cash payments still hold the larger share of the market. As of 2017, around 80% of the global transactions were made using hard cash. Most retail payments, especially in developing countries, were made using hard cash. High share of hard cash in the global payment market will lead to a high demand for bank notes. The growing global bank note market is expected to increase the demand for currency security paper, which is made using mixtures of two or more materials such as cotton and linen. In addition, the circulation of high denomination currency notes in a country is expected to drive the demand for security papers, during the forecast period.
According to a senior analyst at Technavio for research on packaging, “Apart from global bank note market, the increasing R&D activities, increasing paper ballots voting system in the US, expected opportunities from unbanked population are some other major aspects that are expected to boost the growth of the global security paper market.”
Global security paper market: Segmentation analysis
The global security paper market research report provides market segmentation by product (currency note, passport, and other products), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2017, followed by the EMEA and APAC respectively. During the forecast period, the EMEA region is expected to register the highest incremental growth of close to 1%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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