Global Magnetic Ink Character Recognition (MICR) Printer Market Analysis, 2021

Global Magnetic Ink Character Recognition (MICR) Printer Market Analysis, 2021

By Type (Laser MICR Printer, Inkjet MICR Printers), By Application (Banking and Financial, Retail, Healthcare, Government, Others), By Region (North America, South America, Europe, Asia-Pacific, Middl Read more

  • ICT & Electronics
  • Jan 2021
  • 204
  • IT88007

According to MarkNtel Advisors, the Global Magnetic Ink Character Recognition (MICR) Printer Market is anticipated to grow at a CAGR of around 1.4% during 2021-26. The market growth primarily attributes to the increasing adoption of MICR technology across banking & financial sectors, escalating incidences of forgery with documents, and the launch of technologically advanced MICR printers by the leading market players.

Report Coverage Details
Study Period Historical Data: 2016-20
Base Year: 2020
Forecast Period: 2021-26
CAGR (2021-26) 1.4%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, UK, France, Italy, Spain
Asia-Pacific: China, India, Japan, South Korea, Australia
South America: Brazil
Middle East & Africa: UAE, Saudi Arabia, South Africa
Key Companies Profiled Bayer, Syngenta Ag, BASF Se, Fmc Corporation, Nufarm, Adama Agricultural Solutions Ltd., UPL Limited, Novozymes A/S, Eastman Chemicals Ltd, Plant Health Care, Corteva Agriscience, Germains Seed Technology, Precision Laboratories, Llc, Valent USA, Rhizobacter Argentina S.A., Globachem, Bioworks, Certis Europe, Verdesian Lifesciences
Unit Denominations USD Million/Billion

However, the surging trend of online transactions and mounting demand for advanced payment methodologies are the critical aspects likely to hinder the market growth in the forecast period, further states the research report, “Global Magnetic Ink Character Recognition (MICR) Printer Market Analysis, 2021.”

Global Magnetic Ink Character Recognition (MICR) Printer Market Demand

Market Segmentation

Laser MICR Printer Acquired Considerable Share of Global Magnetic Ink Character Recognition (MICR) Printer Market

Based on Type, Laser MICR Printer acquired a considerable share of the Global Magnetic Ink Character Recognition (MICR) Printer Market in the previous few years. The adoption of laser printers is surging across several businesses & banking institutions to print off-payroll checks or other official documents. Hence, the rapidly propelling adoption of Laser Printers shall further fuel the overall market growth in the coming years, reveals MarkNtel Advisors in their research report, “Global Magnetic Ink Character Recognition (MICR) Printer Market Analysis, 2021.”

Competitive Landscape

According to MarkNtel Advisors, the key players with a considerable share of the Global Magnetic Ink Character Recognition (MICR) Printer market include HP, Lexmark, Xerox, Ricoh, Canon, IBM, Fuji, Lenovo, Delphax Technologies Inc., Relyco, etc.

Key Questions Answered in the Market Research Report:

  1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of the Global Magnetic Ink Character Recognition (MICR) Printer Market?
  2. What are the region-wise industry size, growth drivers, challenges, and key market trends?
  3. What are the key innovations, technology upgrades, opportunities, regulations in the Global Magnetic Ink Character Recognition (MICR) Printer Market? 
  4. Who are the key competitors or market players, and how do they perform in the Global Magnetic Ink Character Recognition (MICR) Printer Market based on the competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Magnetic Ink Character Recognition (MICR) Printer Market study?

Market Outlook, Segmentation and Statistics 

  • Impact of COVID-19 on Magnetic Ink Character Recognition (MICR) Printer
  • Market Size & Analysis
    • By Revenues
    • By Unit Sold
  • Market Share & Analysis
    • By Type
      • Laser MICR Printer
      • Inkjet MICR Printers
    • By Application
      • Banking and Financial
      • Retail
      • Healthcare
      • Government
      • Others
    • By Region
      • North America Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • The US Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Canada Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Mexico Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
      • South America Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Brazil Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
      • Europe Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • The UK Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Germany Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • France Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Italy Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Scandinavia Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Russia Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
      • Middle East & Africa Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • GCC Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
      • Asia-Pacific Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • China Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Japan Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • India Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • South Korea Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
        • Singapore Magnetic Ink Character Recognition (MICR) Printer Market Outlook, 2016-2026F (USD Million)
    • By Company
      • Revenue Shares
      • Strategic Factorial Indexing
      • Competitor Placement in MarkNtel Quadrant
  • Global Magnetic Ink Character Recognition (MICR) Printer Market Policies, Regulations, Product Standard
  • Global Magnetic Ink Character Recognition (MICR) Printer Market Hotspots & Opportunities
  • Competition Outlook
    • Competitor Wise Growth Strategies
    • Company Profiles

Frequently Asked Questions

A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.

A.  The measuring unit of market/industry size or the market value is USD Million.

A. The Global Magnetic Ink Character Recognition (MICR) Printer Market is forecast to grow at a CAGR of 1.4% during 2021-26.

A. HP, Lexmark, Xerox, Ricoh, Canon, IBM, Fuji, Lenovo, Delphax Technologies Inc., Relyco, etc., are a few leading players in the Global Magnetic Ink Character Recognition (MICR) Printer Market.

A. The Banking & Financial segment is expected to attain the highest CAGR and maintain its significant market share during the forecast period.

A. Asia-Pacific shall continue to grow at the highest CAGR and present immense opportunities for the market players in the Global Magnetic Ink Character Recognition (MICR) Printer Market in the forecast years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Global Magnetic Ink Character Recognition (MICR) Market Overview
  5. Impact of COVID-19 on Global Magnetic Ink Character Recognition (MICR) Market  
  6. Global Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
        1. Laser MICR Printer
        2. Inkjet MICR Printer
      2. By Application
        1. Banking and Financial
        2. Retail
        3. Healthcare
        4. Government
        5. Others
      3. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      4. By Competitors
        1. Competition Characteristics
        2. Market Share & Analysis
        3. Competitive Metrix
  7. North America Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Application
      3. By End-User
      4. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    4. Canada Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    5. Mexico Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
  8. South America Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Application
      3. By Country
        1. Brazil
        2. Others
    3. Brazil Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
  9. Europe Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Application
      3. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Others
    3. Germany Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    4. The UK Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    5. France Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    6. Italy Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    7. Spain Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
  10. Middle East & Africa Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Application
      3. By Country
        1. UAE
        2. Saudi Arabia
        3. South Africa
        4. Others
    3. UAE Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    4. Saudi Arabia Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    5. South Africa Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
  11. Asia-Pacific Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold
      2. Revenues
    2. Market Share & Analysis
      1. By Type
      2. By Application
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia
        6. Others
    3. China Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    4. India Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    5. Japan Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    6. South Korea Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
    7. Australia Magnetic Ink Character Recognition (MICR) Market Outlook, 2016-2026F
      1. Market Size & Analysis
        1. Units Sold
        2. Revenues
      2. Market Share & Analysis
        1. By Type
        2. By Application
  12. Global Magnetic Ink Character Recognition (MICR) Market Regulations, Policies
  13. Global Magnetic Ink Character Recognition (MICR) Market Intellectual Property Rights Analysis
  14. Global Magnetic Ink Character Recognition (MICR) Market Trends & Insights
  15. Global Magnetic Ink Character Recognition (MICR) Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  16. Global Magnetic Ink Character Recognition (MICR) Market Hotspot & Opportunities
  17. Global Magnetic Ink Character Recognition (MICR) Market, Competition Outlook
    1. Competition Matrix
      1. Target Markets
      2. Target Applications
      3. Research & Development
      4. Collaborations & Strategic Alliances
      5. Key Business Expansion Initiatives
      6. Business Restructuring- Mergers, Acquisitions, JVs
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
      1. HP
      2. Lexmark
      3. Xerox Fuji
      4. Ricoh
      5. Canon
      6. IBM
      7. Brother
      8. Lenovo
      9. Delphax Technologies Inc.
      10. Relyco
  18. Disclaimer
Global Magnetic Ink Character Recognition (MICR) Printer Market Segmentation