The worldwide market for security printing is forecast to reach $29.8 billion in 2019 according to preliminary data from the forthcoming Smithers report The Future of Global Security Printing to 2024. This will rise to a total value of around $37.7 billion in 2024 driven by expansion in developing markets—especially Asia, the Middle East and Africa.

The security print industry is having to adjust to new market realities, in particular the wider use of e-payments and digital identity platforms that are threatening the long-term viability of core markets. The impact of these trends on personal ID and banknote production will have a limited impact across the five-year Smithers forecast period—and will be compensated for by growth in new sectors.

For the longer term, this is creating a degree of uncertainty, however. In response, established names in the private-sector security print segment are looking to diversify their product offering. In particular, there is interest in extending the role of traditional high security printers into service provision, including software and support for documents once in circulation.