According to the research report titled ‘Global Magnetic Ink Character Recognition (MICR) Printer Market Analysis, 2021’, available with Market Study Report, global magnetic ink character recognition (MICR) printer market is projected to register a y-o-y growth rate of 1.4% through 2026.
 

Increasing occurrences of counterfeiting of documents compelling banking companies & financial institutions to adopt MICR technology, which along with introduction of innovative MICR printers by companies are propelling the growth of global magnetic ink character recognition (MICR) printer market.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/3583521/
 

However, rising trend of online transactions, coupled with increasing demand for innovative payment methodologies are the factors acting as restraints for the market.  
 

Based on type, global magnetic ink character recognition (MICR) printer industry is segmented into laser MICR printer, and inkjet MICR printer. As cited in the report, laser MICR printer segment held a significant share in 2019 and is expected to grow substantially during the forecast duration, owing to increasing adoption of laser printers in banking institutions and businesses for printing important document and off-payroll cheques.
 

Speaking of application range, the marketplace is divided into banking & financial, government, healthcare, and retail including others.
 

As per regional framework, Asia-Pacific, Middle East & Africa, North America, Europe, and South America are the major contributors towards global magnetic ink character recognition (MICR) printer industry remuneration. The report aims to acquaint the readers with the business expansion opportunities lying dormant in these regions.
 

Established firms in worldwide magnetic ink character recognition (MICR) printer market include Relyco Sales Inc., Delphax Technologies Inc., Lenovo (Beijing) Limited, Brother Industries Ltd., International Business Machines Corporation, Canon Inc., The Ricoh Company Ltd., Fuji Xerox Co. Ltd., Lexmark International Inc., and Hewlett-Packard Development Company L.P.