Tactile printing market poised for steady growth according to new research report
Americas, News, August 5 2017
SAN JOSE, CALIF.: According to a new market report published by Credence Research Inc “Tactile Printing Market Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2025” the global tactile printing market was valued at US$ 1,250 Mn in 2016 and is expected to growth at a CAGR of 4.5% through the forecast period 2017 – 2025. Countries across the world including India, China, Japan, the U.S., UK, Germany and other are increasingly investing in braille printing technology is driving the demand for tactile printing market. Rising demand for customized tactile solutions is another major triggering factor for the global tactile printing market. Tactile printing technology is used in various customized products such as in games, Braille wristbands, Braille musical cards, pins, switches, visiting cards, location labels, stickers (Braille tactile custom stickers), street names, greeting cards, recorders, calculators, Braille calendars, jewelry and many more.
Based on printing application, the global tactile printing market is segmented into maps, audio maps, zoom maps and books. Tactile graphics are commonly used in creation of graphics and accounted for the largest revenue share of 40.0% in 2015. Tactile map is an assists visually impaired people because they can provide geographical information about distant places, with information about unknown places and guides in finding route between two places. The market for tactile maps is expected to witness significant growth with increasing awareness about the use of these maps among people with vision disabilities. In addition, continuous research on this technology to improve effectiveness of tactile maps is also expected spur the demand for this segment. Tactile book is the second largest application segment. These books are used by visually challenged people and children. Different types of tactile books include experience book, theme book, routine book and object book. Tactile zoom map is advanced version of tactile maps and introduced specially for people who can read braille structure and no previous interaction with tactile maps.
North America is the largest market for tactile printing and accounted for around 37% of revenue share in 2016. North America is expected to maintain its dominating position through the forecast period due to increasing government support in the U.S. and Canada for development of tactile maps and other related technologies for people with disabilities. Asia Pacific is expected to witness the fastest growth with increasing number of people with vision disabilities in the region and increasing awareness about this technology.
The global tactile printing market is highly fragmented and most of the organizations dealing in this market are non-profit organization. The market has high potential and low entry barriers resulted into the entrance of new users and increasing market competition. The increasing awareness level amongst the population has led the introduction of new players within this market. Manufactures are focusing on new product development and product portfolio expansion in order to strengthen their position in the global market. The key market players of the global tactile printing technology market are View Plus, Brailler (Perkins), American Thermoform, Braigo Labs, Braille Plus Inc, Braille Works Inc, Index Braille AB, NIA Technologies and various others.