The Future of Global Security Printing to 2024
Oil-rich nations have all made long-term strategic investments in their countries' IT infrastructure to enable highly advanced eGovernment services, which in turn serves the transition to electronic transactions in every area from finance to identity, transport, and tax stamps. Some oil-dependent nations attempt to emulate smart card programs, but are hampered by turmoil, political wrangling, public distrust, lack of funding, and underdeveloped infrastructures. As a result, ambitious programs are announced but often delayed, fail to materialise or are not executed properly. While both developments negatively influence the prospects for security printing, the Middle East market continues to grow.
To help identify these opportunities for growth, Smithers has published a major new market study- The Future of Security Printing in Middle East and North Africa to 2018 - The report offers a comprehensive overview of the market by examining the factors in play, and provides quantitative market sizes and forecasts, split by print process, end-use and country. Never before has an attempt made to understand, define, and measure conditions and opportunities in this eternally fascinating yet incredibly complex region of the world. The conclusions of this report will aid authorities, suppliers, and end-users in developing successful programs and strategies.
The financial segment consists of banknotes, cheques, and payment cards. The volume of banknotes over the forecast period continues to climb, but cheque usage is on the decline. Payment cards, while a small percentage of the total financial segment, are seeing relatively strong growth. Payroll cards do not yet have the desired effect on cash use reduction, because most cardholders use it to draw banknotes from an ATM. However, it is a first step towards weaning the population off their cash addiction, and once POS networks are fully developed and accepted it is expected the transition from cash to electronic payment will commence.
The Personal ID segment - passports, visas, National IDs, and driver's licences - will grow faster than other segments as a result of implementation of ePassports and National ID programs. The number of travel visas is declining as the Middle East is like most other parts of the world switching over to electronic visas.
Download our latest security print market report The Future of Global Security Printing to 2024