Banknote Market Analysis APAC, Middle East and Africa, South America, North America, Europe - US, China, India, UK, Brazil - Size and Forecast 2024-2028

Published: Nov 2023 Pages: 160 SKU: IRTNTR72100

Banknote Market 2024-2028 

The banknote market size is estimated to grow at a CAGR of 4.46% between 2023 and 2028. The market size is forecast to increase by USD 1.90 billion. The growth of the market depends on serval factors, including the rise in financial inclusion, the implementation of central bank policies for clean banknotes, and the rise in the adoption of durable solutions for printing currency. 

The research report of the Banknote Market, offers industry forecasts and segmentation based on Type including state-owned and commercial. It also segments the market by Application, which comprises intaglio printing, offset printing, and letterpress printing. Geographically, the report covers APAC, Middle East and Africa, South America, North America, and Europe. The market size, historical data for 2018-2022, and future forecasts are presented in terms of value (in USD billion) for all these mentioned segments.

What will be the size of the Banknote Market During the Forecast Period?

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Banknote Market: Key Drivers, Trends and Challenges

The implementation of central bank policies for clean banknotes is notably driving market growth. Implementing and stringently enforcing central bank standards for clean banknotes are viewed as critical drivers in driving the growth of the banknote printing industry. Central banks across the world guarantee that the banknotes in circulation are clean and of high quality by implementing the 'clean banknote' policy. These clean banknote policies entail a variety of currency management actions aimed at the efficient circulation of premium-grade banknotes and the removal of unfit/soiled banknotes.

Moreover, certain soiled and mutilated notes, however, continue to circulate as a result of the carelessness and negligence of several intermediaries, including deposit money banks, microfinance banks, merchant banks, cash processing companies, bank customers, market associations, government agencies, and general public. As a result, numerous central banks have established rules and are taking steps to prevent the inflow of soiled currency. For example, in India, the Reserve Bank of India (RBI) has implemented the Clean Note Policy to keep banknotes clean and useful while in circulation. This is expected to boost the demand for the reprinting of banknotes and currencies to replace discarded banknotes, which is expected to drive the growth of the market in focus during the forecast period.

Significant Banknote Market Trend

The development of various security printing methods is an emerging trend in the market. Several methods are used in security printing, and they play a pivotal role in addressing the issue of forgery and counterfeiting of currency notes. With the availability of various security inks and security printing methods, the global market is expected to grow during the forecast period. The different types of security inks and security printing methods include watermarks, holograms, serial numbers, intaglio printing, geometric lathe work, fluorescent dyes, and fluorescent dyes.

Moreeover, market players are introducing innovative new security inks to prevent counterfeiting and product piracy. In 2021, Indian scientists introduced nano-material-based security ink that emits luminescent light due to its unique chemical properties to prevent the counterfeiting of branded goods, banknotes, medicines, certificates, and currency. Hence, the introduction of new security inks would prevent fraudulent activities in highly secured printed products. Thus, such factors are expected to fuel the growth of the global market during the forecast period.

Major Banknote Market Challenge

The increasing use of cryptocurrencies is a major challenge impeding market growth. The use of cryptocurrencies has increased since 2016, mainly owing to the ease of transacting. Cryptocurrency does not involve handheld physical cash. It is a digital code that can be transferred through digital mediums. While making a purchase, smartphones are used to scan the code of the store, which is followed by the transfer of the required amount in terms of cryptocurrency to the store's digital wallet from the customer's digital wallet. An increasing number of stores are accepting cryptocurrency as the transactions are extremely easy, with no repetitive authentication required.

Moreover, cryptocurrency software allows a network of computers to maintain collective bookkeeping through the internet. It also contains all information, such as the time, date, and amount of the transaction. Moreover, cryptocurrency facilitates easy online shopping. It is similar to an e-wallet, which can store, spend, and track digital money. As it is less volatile than cash and local currencies, it becomes easier to transact across boundaries. Additionally, it is impossible to duplicate cryptocurrencies, and hence, it is a secured mode of transaction. Thus, these factors will impede the growth of the market during the forecast period.

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Banknote Market Customer Landscape

Who are the Major Banknote Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

CCL Industries Inc.: The company offers banknotes such as polymer banknotes through its subsidiary CCL Secure.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

  • BNB Printing House AD
  • Bureau of Engraving and Printing
  • Central Engraving and Printing Plant
  • China Banknote Printing and Minting Group Co. Ltd.
  • Crane Holdings Co.
  • De La Rue PLC
  • FNMT RCM
  • Giesecke Devrient GmbH
  • Hong Kong Note Printing Ltd.
  • Joint Stock Co. Goznak
  • National Printing Bureau
  • Note Printing Australia Ltd.
  • Orell Fussli AG
  • Reserve Bank of India
  • Security Papers Ltd.
  • Security Printing and Minting Corp. Of India Ltd.
  • SPS TechnoScreen GmbH
  • The Security Printing Corp. Bangladesh Ltd.
  • Valora S.A.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak. 

What is the Largest-Growing Segments in the Banknote Market?

The market share growth by the state-owned segment will be significant  during the forecast period. Banknotes are usually printed by state-owned printers, also known as state print works (SPWs), of issuing countries. Owing to concerns related to national security, many countries adhere to SPWs. For instance, before 1877, most US banknotes were printed by various private firms. However, in March 1877, the Bureau of Printing and Engraving based in the US took over the exclusive responsibility of banknote printing in the US market.

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The state-owned segment was valued at USD 7.25 billion in 2018. Offering banknote printing contracts to printers located in a different country may be dangerous as then, the central bank would have to share important details about the currency's design and anti-counterfeiting features with the printer, which may lead to security-related issues and leak of sensitive information. This can result in the production of fake currencies and can eventually lead to tremendous fiscal damage to the economy. There is also the threat of economic destabilization as the contract agencies may undertake excess production, and the excess money could be supplied to unscrupulous elements to fuel terrorism and extremism. Thus, cross-border printing contracts for currency notes are always risky. Hence, the global market is likely to remain dominated by SPWs during the forecast period owing to the importance of preserving national security.

Which are the Key Regions for the Banknote Market?

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APAC is estimated to contribute 67% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominates the global market owing to the high demand for banknotes from its large population base. The growth of banknotes is outlined with the prevalence of cash-based economies such as India. Additionally, many countries in APAC print their banknotes outside their national borders. China Banknote Printing and Minting Corp. (China Banknote Printing and Minting), which is one of the major banknote producers in Asia, has been printing banknotes for various countries, including Thailand, Bangladesh, Sri Lanka, Malaysia, Pakistan, and Nepal. The Belt and Road Initiative launched by China in 2013 has helped these countries promptly save a large sum of money by lodging their security printing requirements with China. This, in turn, is likely to fuel the growth of the market in China during the forecast period.

Segment Overview

The banknote market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Type Outlook 
    • State-owned
    • Commercial
  • Application Outlook 
    • Intaglio printing
    • Offset Printing
    • Letterpress Printing
  • Region Outlook 
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil 
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Banknote Market Scope

Report Coverage

Details

Page number

160

Base year

2023

Historic period

 2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 4.46%

Market growth 2024-2028

USD 1.90 billion

Market structure

Fragmented

YoY growth 2023-2024(%)

3.54

Regional analysis

APAC, Middle East and Africa, South America, North America, and Europe

Performing market contribution

APAC at 67%

Key countries

US, China, India, UK, and Brazil

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

BNB Printing House AD, Bureau of Engraving and Printing, CCL Industries Inc., Central Engraving and Printing Plant, China Banknote Printing and Minting Group Co. Ltd., Crane Holdings Co., De La Rue PLC, FNMT RCM, Giesecke Devrient GmbH, Hong Kong Note Printing Ltd., Joint Stock Co. Goznak, National Printing Bureau, Note Printing Australia Ltd., Orell Fussli AG, Reserve Bank of India, Security Papers Ltd., Security Printing and Minting Corp. Of India Ltd., SPS TechnoScreen GmbH, The Security Printing Corp. Bangladesh Ltd., and Valora S.A.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Banknote Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the banknote market between 2024 and 2028
  • Precise estimation of the size of the banknote market size and its contribution to the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the industry across APAC, Middle East and Africa, South America, North America, and Europe
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive analysis of factors that will challenge the growth of banknote market vendors

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global banknote market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global banknote market 2018 - 2022 ($ billion)
    • 4.2 Type Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
    • 4.3 Application Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 30: Chart on Type - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
    • 6.2 Comparison by Type
      • Exhibit 32: Chart on Comparison by Type
      • Exhibit 33: Data Table on Comparison by Type
    • 6.3 State-owned - Market size and forecast 2023-2028
      • Exhibit 34: Chart on State-owned - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 35: Data Table on State-owned - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 36: Chart on State-owned - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on State-owned - Year-over-year growth 2023-2028 (%)
    • 6.4 Commercial - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Commercial - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 39: Data Table on Commercial - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 40: Chart on Commercial - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Commercial - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 42: Market opportunity by Type ($ billion)
      • Exhibit 43: Data Table on Market opportunity by Type ($ billion)

    7 Market Segmentation by Application

    • 7.1 Market segments
      • Exhibit 44: Chart on Application - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on Application - Market share 2023-2028 (%)
    • 7.2 Comparison by Application
      • Exhibit 46: Chart on Comparison by Application
      • Exhibit 47: Data Table on Comparison by Application
    • 7.3 Intaglio printing - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Intaglio printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 49: Data Table on Intaglio printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 50: Chart on Intaglio printing - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Intaglio printing - Year-over-year growth 2023-2028 (%)
    • 7.4 Offset Printing - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Offset Printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 53: Data Table on Offset Printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 54: Chart on Offset Printing - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Offset Printing - Year-over-year growth 2023-2028 (%)
    • 7.5 Letterpress Printing - Market size and forecast 2023-2028
      • Exhibit 56: Chart on Letterpress Printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 57: Data Table on Letterpress Printing - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 58: Chart on Letterpress Printing - Year-over-year growth 2023-2028 (%)
      • Exhibit 59: Data Table on Letterpress Printing - Year-over-year growth 2023-2028 (%)
    • 7.6 Market opportunity by Application
      • Exhibit 60: Market opportunity by Application ($ billion)
      • Exhibit 61: Data Table on Market opportunity by Application ($ billion)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 63: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 64: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 65: Chart on Geographic comparison
      • Exhibit 66: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 67: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 68: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 69: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 71: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 72: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 73: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.5 South America - Market size and forecast 2023-2028
      • Exhibit 75: Chart on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 76: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 77: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.6 North America - Market size and forecast 2023-2028
      • Exhibit 79: Chart on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 80: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 81: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.7 Europe - Market size and forecast 2023-2028
      • Exhibit 83: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 84: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 85: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.8 China - Market size and forecast 2023-2028
      • Exhibit 87: Chart on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 88: Data Table on China - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 89: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.9 India - Market size and forecast 2023-2028
      • Exhibit 91: Chart on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 92: Data Table on India - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 93: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.10 US - Market size and forecast 2023-2028
      • Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.11 Brazil - Market size and forecast 2023-2028
      • Exhibit 99: Chart on Brazil - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 100: Data Table on Brazil - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 101: Chart on Brazil - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on Brazil - Year-over-year growth 2023-2028 (%)
    • 9.12 UK - Market size and forecast 2023-2028
      • Exhibit 103: Chart on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 104: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
      • Exhibit 105: Chart on UK - Year-over-year growth 2023-2028 (%)
      • Exhibit 106: Data Table on UK - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 107: Market opportunity by geography ($ billion)
      • Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 109: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 110: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 111: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 112: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 113: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 114: Matrix on vendor position and classification
            • 12.3 BNB Printing House AD
              • Exhibit 115: BNB Printing House AD - Overview
              • Exhibit 116: BNB Printing House AD - Product / Service
              • Exhibit 117: BNB Printing House AD - Key offerings
            • 12.4 Bureau of Engraving and Printing
              • Exhibit 118: Bureau of Engraving and Printing - Overview
              • Exhibit 119: Bureau of Engraving and Printing - Product / Service
              • Exhibit 120: Bureau of Engraving and Printing - Key offerings
            • 12.5 CCL Industries Inc.
              • Exhibit 121: CCL Industries Inc. - Overview
              • Exhibit 122: CCL Industries Inc. - Business segments
              • Exhibit 123: CCL Industries Inc. - Key offerings
              • Exhibit 124: CCL Industries Inc. - Segment focus
            • 12.6 Central Engraving and Printing Plant
              • Exhibit 125: Central Engraving and Printing Plant - Overview
              • Exhibit 126: Central Engraving and Printing Plant - Product / Service
              • Exhibit 127: Central Engraving and Printing Plant - Key offerings
            • 12.7 China Banknote Printing and Minting Group Co. Ltd.
              • Exhibit 128: China Banknote Printing and Minting Group Co. Ltd. - Overview
              • Exhibit 129: China Banknote Printing and Minting Group Co. Ltd. - Product / Service
              • Exhibit 130: China Banknote Printing and Minting Group Co. Ltd. - Key offerings
            • 12.8 Crane Holdings Co.
              • Exhibit 131: Crane Holdings Co. - Overview
              • Exhibit 132: Crane Holdings Co. - Business segments
              • Exhibit 133: Crane Holdings Co. - Key offerings
              • Exhibit 134: Crane Holdings Co. - Segment focus
            • 12.9 De La Rue PLC
              • Exhibit 135: De La Rue PLC - Overview
              • Exhibit 136: De La Rue PLC - Business segments
              • Exhibit 137: De La Rue PLC - Key offerings
              • Exhibit 138: De La Rue PLC - Segment focus
            • 12.10 FNMT RCM
              • Exhibit 139: FNMT RCM - Overview
              • Exhibit 140: FNMT RCM - Product / Service
              • Exhibit 141: FNMT RCM - Key offerings
            • 12.11 Giesecke Devrient GmbH
              • Exhibit 142: Giesecke Devrient GmbH - Overview
              • Exhibit 143: Giesecke Devrient GmbH - Business segments
              • Exhibit 144: Giesecke Devrient GmbH - Key offerings
              • Exhibit 145: Giesecke Devrient GmbH - Segment focus
            • 12.12 Joint Stock Co. Goznak
              • Exhibit 146: Joint Stock Co. Goznak - Overview
              • Exhibit 147: Joint Stock Co. Goznak - Product / Service
              • Exhibit 148: Joint Stock Co. Goznak - Key offerings
            • 12.13 National Printing Bureau
              • Exhibit 149: National Printing Bureau - Overview
              • Exhibit 150: National Printing Bureau - Product / Service
              • Exhibit 151: National Printing Bureau - Key offerings
            • 12.14 Orell Fussli AG
              • Exhibit 152: Orell Fussli AG - Overview
              • Exhibit 153: Orell Fussli AG - Business segments
              • Exhibit 154: Orell Fussli AG - Key offerings
              • Exhibit 155: Orell Fussli AG - Segment focus
            • 12.15 Reserve Bank of India
              • Exhibit 156: Reserve Bank of India - Overview
              • Exhibit 157: Reserve Bank of India - Product / Service
              • Exhibit 158: Reserve Bank of India - Key offerings
            • 12.16 Security Papers Ltd.
              • Exhibit 159: Security Papers Ltd. - Overview
              • Exhibit 160: Security Papers Ltd. - Product / Service
              • Exhibit 161: Security Papers Ltd. - Key offerings
            • 12.17 Security Printing and Minting Corp. Of India Ltd.
              • Exhibit 162: Security Printing and Minting Corp. Of India Ltd. - Overview
              • Exhibit 163: Security Printing and Minting Corp. Of India Ltd. - Product / Service
              • Exhibit 164: Security Printing and Minting Corp. Of India Ltd. - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 165: Inclusions checklist
                • Exhibit 166: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 167: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 168: Research methodology
                • Exhibit 169: Validation techniques employed for market sizing
                • Exhibit 170: Information sources
              • 13.5 List of abbreviations
                • Exhibit 171: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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