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Security Paper Market to Grow by USD 8.4 Billion (2024-2028), Driven by Expansion in Global Banknote Industry, Report with AI-Powered Insights – Technavio

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NEW YORK, Dec. 13, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global security paper market size is estimated to grow by USD 8.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 7.36%  during the forecast period. Growing global banknote industry is driving market growth, with a trend towards growing r and d activities. However, rising global e-passport industry  poses a challenge. Key market players include Ciotola s.r.l., De La Rue PLC, DIPA Zrt, DREWSEN SPEZIALPAPIERE GmbH and Co. KG, EPL House, FEDRIGONI Spa, FNMT RCM, Gemini Graphics Pvt. Ltd., Giesecke Devrient GmbH, HG Technology Sdn Bhd, Joint Stock Co. Goznak, Pura Group, Rolland Enterprises Inc., Security Paper Mill Inc., Security Papers Ltd., Security Printing and Minting Corp. Of India Ltd., and Simpson Security Papers Inc, Sequana Group, China Banknote Printing and Minting Corporation, Document Security Systems Inc.

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Security Paper Market Scope

Report Coverage

Details

Base year

2023

Historic period

2017 – 2021

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 7.36%

Market growth 2024-2028

USD 8.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.6

Regional analysis

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

Performing market contribution

APAC at 53%

Key countries

US, China, Germany, Japan, and Canada

Key companies profiled

Ciotola s.r.l., De La Rue PLC, DIPA Zrt, DREWSEN SPEZIALPAPIERE GmbH and Co. KG, EPL House, FEDRIGONI Spa, FNMT RCM, Gemini Graphics Pvt. Ltd., Giesecke Devrient GmbH, HG Technology Sdn Bhd, Joint Stock Co. Goznak, Pura Group, Rolland Enterprises Inc., Security Paper Mill Inc., Security Papers Ltd., Security Printing and Minting Corp. Of India Ltd., and Simpson Security Papers Inc, Sequana Group, China Banknote Printing and Minting Corporation, Document Security Systems Inc.

Market Driver

The Security Paper Market is witnessing significant trends and advancements, with a focus on enhancing the security of currency notes and documents. The use of alteration-resistant materials like cotton fiber paper and hybrid security papers is on the rise. Banknote substrate is transitioning from traditional cotton to polymer, offering improved durability and counterfeit resistance. Emerging technologies like blockchain technology and Cylinder mold technology are being explored for data security applications in banking and identity documents. Customized papers with holograms, micro print elements, and UV fibers are becoming standard. The cash-based economy continues to drive demand for security papers in currency printing. Counterfeiting of documents and data leaks pose challenges, necessitating the incorporation of advanced security features such as magnetic microwires, thread, and fluorescent elements. Infrastructure modernization in developing economies with large population bases presents business opportunities for security paper manufacturers. Louisenthal and Veridos are key players, offering innovative solutions like passport and visa documents with advanced security features. Technological developments in the field include digitization, which offers opportunities for digital data security applications. The market is also exploring the use of natural materials like pulp and watermarks for sustainable and secure solutions. 

Commercial vendors in the global security paper market are intensifying their research and development (R&D) investments to stay competitive. With numerous state-owned paper mills and printing companies in the market, product differentiation is essential for commercial entities to thrive. Innovative paper printing technologies and advanced security features are crucial investments for vendors to maintain their market position. For instance, De La Rue boosted its R&D budget by 100% in 2020, resulting in the launch of six new products, each incorporating four distinct security features for currency printing. 

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Market Challenges

The Security Paper Market is witnessing significant growth due to the increasing demand for secure documents in various sectors. However, challenges such as alteration and forgery of documents, particularly in a cash-based economy, remain a major concern. Counterfeiting of currency notes, identity cards, and other legal documents continues to pose a threat, necessitating advancements in security features. Banknote substrate, including cotton and polymer, plays a crucial role in currency printing. Emerging technologies like blockchain and holograms offer business opportunities for enhancing document security. Infrastructure modernization in developing economies with large population bases presents significant opportunities for security paper manufacturers. Cotton fiber paper, thread, and magnetic microwires are common security elements. Hybrid security papers, incorporating natural materials and micro print elements, offer advanced security features. Technological developments, such as Cylinder mold technology and UV fibers, are essential for producing customized papers with superior security. Data leaks and data security applications are driving the digitization of various documents. Louisenthal, Veridos, and other leading players are investing in product development plans to cater to these trends. The market for safety papers, including stamp paper and passports, is expected to grow due to the increasing need for secure identity verification in transportation and logistics.The global e-passport market is experiencing notable growth due to increasing concerns over illegal immigration and trans-border crimes. E-passports offer enhanced security features, enabling quick and efficient identity verification at international borders. Government agencies utilize e-passports for heightened border control. The market’s expansion began in the early 2000s but gained momentum following high-profile terrorist attacks, such as 9/11, Madrid, London, and Paris, which underscored the necessity for advanced security measures. The need to safeguard citizens and combat passport fraud further fuels market growth.

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Segment Overview 

This security paper market report extensively covers market segmentation by  

Product 1.1 Currency note1.2 Passport1.3 OthersType 2.1 Hybrid paper2.2 Watermark2.3 Hologram2.4 Thread and UV fiberGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Currency note-  The global automated teller machine (ATM) services market has experienced significant growth since 2010, with North America leading the charge. The US and Canada have been key contributors to this growth in the region. In Asia-Pacific (APAC) and Latin America, the banking sector maintained a steady growth rate even during financial crises. The increasing economies in Southeast Asian countries like Singapore, Taiwan, Thailand, and Vietnam are boosting the growth of the banking sector in APAC. As of 2022, North America had the most ATMs, with over 3.2 million units installed worldwide. The rise of cash recycler ATMs and the provision of value-added services like balance inquiries and checkbook requests have fueled the growth of ATMs. The market is projected to expand by 5-9% during the forecast period due to the anticipated penetration of ATM services in underdeveloped areas. The expansion of the banking system and the growing number of ATMs worldwide are anticipated to boost the demand for currency notes, thereby driving the growth of the security paper market.

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Research Analysis

The Security Paper Market is witnessing significant growth due to the infrastructure modernization in various sectors, particularly in the government and financial industries. With a large population base in many regions, the demand for secure documents such as passports and visas is increasing. Traditional security features like watermarks, holograms, and thread are being supplemented with advanced technologies such as polymer substrate and hybrid papers. Cash-based economies continue to drive the demand for secure currency printing. However, the risk of fraud and counterfeiting remains a major concern, leading to the adoption of advanced security features like polymer and hybrid papers. These materials offer enhanced security against alteration, forgery, and document-related fraud. Digitization is also transforming the security paper market, with many governments exploring digital alternatives to traditional documents. However, the need for secure physical documents will continue to persist, particularly for high-value transactions and critical applications. Security features like watermarks, holograms, and thread remain essential for ensuring the authenticity of original documents. Meanwhile, the printing of currency and the counterfeiting of documents continue to pose significant challenges, requiring ongoing innovation and investment in security technologies.

Market Research Overview

The Security Paper Market encompasses the production and supply of specialized papers used for currency notes, banking applications, identity cards, certificates, and other important documents. These papers incorporate various security features such as holograms, watermarks, micro print elements, and magnetic microwires to prevent counterfeiting and document related fraud. Emerging technologies like blockchain technology and digitization are creating new business opportunities in this sector. Natural materials like cotton and cotton fiber paper continue to be used due to their durability and resistance to alteration. Infrastructure modernization in the Cash based economy, particularly in countries with large population bases, is driving demand for security papers. Technological developments in Cylinder mold technology, Hybrid paper, and Polymer substrate are also shaping the product development plan for security paper manufacturers. However, the threat of data leaks and data security applications necessitates the integration of advanced security features into these papers. The market for security papers is expected to grow significantly due to the increasing need for secure and authentic documents in various sectors, including transportation and logistics, legal documents, and passport and visa applications.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductCurrency NotePassportOthersTypeHybrid PaperWatermarkHologramThread And UV FiberGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Huawei and The University of Hong Kong Build a Next-Generation Smart Campus, Accelerating Digital Transformation of Education

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HONG KONG, Dec. 19, 2024 /PRNewswire/ — On Dec. 12, Huawei and the University of Hong Kong (HKU) jointly held a launch ceremony for “The University of Hong Kong & Huawei Global Smart Campus Network Showcase.” This marks a new milestone in their collaboration on developing smarter campus network connectivity and infrastructures. Both parties are committed to creating a global showcase for smart campus network innovation, which not only accelerates HKU’s digital and intelligent transformation, but also serves as an excellent reference and inspiration for more universities worldwide.

Several key leaders from both parties attended the ceremony, including Flora Ng, Chief Information Officer and University Librarian at HKU; Wilson Kwok, Associate Director (CIO & Librarian Office) at HKU; Jason He, President of Huawei’s Global Enterprise Data Communication Marketing & Solution Sales Dept; Jim Bi, President of ICT Marketing & Solution Sales Dept of Huawei Hong Kong; Yury Yin, Vice President of Huawei’s Data Communications Product Line; Jackie Yu, Director of the Branding & Marketing Execution Dept, Huawei Enterprise Business.

“As a world-class university, HKU is committed to providing the best teaching and research environment for global academic talent and promoting the integration of education and technology,” said Flora Ng in her welcome speech. “This year marks the 112th anniversary of the HKU Libraries, which has become a vital platform for global academic research over a century. With the growing diversity of teaching needs and accelerating digital transformation, building a smart campus is critical for providing high-quality educational services.”

She continued: “Together with Huawei, we have built a high-quality 10 Gbps campus network powered by Wi-Fi 7, and deployed it in multiple scenarios, such as libraries, main building (Loke Yew Hall), classrooms, and HKU Station. These deployments ensure stable, smooth network connections for teaching applications in smart classrooms, libraries, study rooms, and auditoriums, laying a solid foundation for HKU’s smart campus.”

Ng added: “Moving forward, both parties will continue to work closely on smart networks and dive deeper into scenarios such as network security, intelligent Operations and Maintenance (O&M), and smart campus Internet of Things (IoT). Doing so will build a more secure, efficient, and intelligent education environment for the future, thereby driving the digital transformation of the education industry.”

“Currently, education is rapidly integrating with digital technology. Huawei fully leverages its unmatched expertise and strengths in the ICT field to help HKU innovate in scientific research, teaching affairs, and management processes,” said Jason He, President of Global Enterprise Data Communication Marketing & Solution Sales Dept, Huawei, in his speech. “Specifically, Huawei’s high-quality 10 Gbps campus network solution powered by Wi-Fi 7 brings to HKU three types of experience upgrade: wireless experience upgrade, application experience upgrade, and O&M experience upgrade. This solution meets various campus scenario-specific needs while ensuring data security, ultimately delivering a fresh-new network experience.”

Technological innovations meet diverse network needs, taking campus network experience to new levels.

With the advent of the digital era, online exams, live classes, lectures, and ceremonies pose higher performance requirements on modern campus networks. Especially in smart classroom scenarios, a key priority is to ensure always-optimal teaching experience in the classroom.

Huawei’s high-quality 10 Gbps campus network solution can meet these needs. By leveraging cutting-edge Wi-Fi 7 technology, this solution greatly increases network bandwidth needed for 4K/8K HD interactive teaching in smart classrooms. It also offers application assurance (which automatically identifies and prioritizes key teaching applications), application quality visibility, and other compelling capabilities to ensure superior experience with teaching applications.

Huawei’s latest Wi-Fi 7 APs deployed in the Loke Yew Hall (a historical landmark and also important activity center), libraries, and study rooms provide smooth network connectivity during centralized online exams and peak hours of celebration activities.

This cooperation is a key milestone and practice on the road to smarter education and smarter campus connectivity of the future. Said Jason He: “Looking forward, Huawei will continue our partnership with HKU to further create a high-quality educational environment, solidifying HKU’s leading position in global higher education. This cooperation can also set an excellent example for more Hong Kong universities to embark on their digital education journey.”

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SOURCE HUAWEI

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Hanesbrands Inc. Data Breach Settlement: Eligible Individuals Encouraged to File Claims

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Apex Class Action LLC, the Settlement Administrator for the Hanesbrands Inc. Data Breach Class Action Settlement, announces that individuals affected by the 2022 data breach may now file claims to receive benefits under the settlement agreement. The data breach, which occurred in May 2022, compromised sensitive personal information. Eligible class members are entitled to compensation, including reimbursement for out-of-pocket losses, credit monitoring services, Hanes Site Credits, or alternative cash payments. Affected individuals can visit, https://hanesdatabreachsettlement.com to check their eligibility and file a claim. The deadline to submit claims is January 3, 2025. For more information, visit www.HanesDataBreachSettlement.com or contact Apex Class Action LLC at 1 (800) 355-0700.

IRVINE, Calif., Dec. 18, 2024 /PRNewswire-PRWeb/ — A proposed Settlement has been reached with Hanesbrands Inc. (“HBI”) relating to a sophisticated ransomware attack on HBI discovered by the company in May 2022 (the “Data Incident”). The Data Incident impacted certain personal information (the “PII”), which varies by individual and may have included contact information, date of birth, financial account information, government-issued identification numbers such as drivers’ license numbers, passport information, and Social Security numbers, and other information related to benefits and employment including certain limited health information provided for employment-related purposes.

Who is Included? The Court decided that Class Members are all individuals whose PII was compromised in the ransomware attack against HBI, discovered by HBI on May 24, 2022.

What does the Settlement Provide? The Settlement allows Class Members to claim:

(A) reimbursement for documented out-of-pocket losses related to the Data Incident, AND

(B) to choose between one of three forms of additional relief:

(1) Two-years of credit and identity monitoring services (retail value $599), including up to $1,000,000 in identity theft insurance;

(2) Hanes site credit for a one-time use (within three years) to purchase products for sale on the www.hanes.com website up to the amount of $50 plus free shipping (valued at $6.99), for a total value of $56.99; OR

(3) an alternative cash payment of $35.

There is an aggregate cap of $100,000 on documented out-of-pocket expense reimbursements. There is no cap on the costs necessary to cover valid claims for Credit and Identity Monitoring, Hanes Store Credit, or Alternative Cash Payments. HBI has also agreed to undertake certain remedial measures and enhanced data security measures, and to pay attorneys’ fees of $475,000, costs not to exceed $45,000, and service awards to Plaintiffs in the amount of $1,600 each, if approved by the Court.

How To Get Benefits: You must complete and file a Claim Form online or by mail postmarked by January 3, 2025, including required documentation. You can file your claim online at www.HanesDataBreachSettlement.com.

You may also get a paper Claim Form at the website, or by calling the toll-free number, and submit by mail.

Your Other Options: If you do not want to be legally bound by the Settlement, you must exclude yourself by January 3, 2025. If you do not exclude yourself, you will release any claims you may have against HBI or Released Parties (as defined in the Settlement Agreement) related to the HBI Data Incident, as more fully described in the Settlement Agreement, available at the settlement website. If you do not exclude yourself, you may object to the Settlement by January 3, 2025. Information about how to object can also be found on the Settlement website.

The Final Approval Hearing: The Court has scheduled a hearing in this case (Toussaint, et al. v. HanesBrands, Inc., Case No. 1:22-cv-00879-LCB-LPA, U.S. District Court for the Middle District of North Carolina) for March 10, 2025, to consider: whether to approve the Settlement, Service Awards, attorneys’ fees and expenses, as well as any objections. You or your attorney may attend and ask to appear at the hearing, but you are not required to do so. The hearing may be held remotely, so please check the Settlement website for those details.

More Information: Complete information about your rights and options, as well as the Claim Form, the Long Form Notice, and Settlement Agreement are available at www.HanesDataBreachSettlement.com, or by calling toll free (800) 355-0700.

Media Contact

Sean Hartranft, Apex Class Action LLC, 1 800-355.0700, info@apexclassaction.com, apexclassaction.com

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SOURCE Apex Class Action LLC

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Agoda Deepens Flight Business in India and Korea

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SINGAPORE, Dec. 19, 2024 /PRNewswire/ — Digital travel platform Agoda has reached an additional milestone in expanding their flight business in India and Korea through the International Air Transport Association’s (IATA) accreditation, enabled by the IATA GoGlobal Accreditation achieved by Priceline on behalf of Booking Holdings.

The IATA GoGlobal accreditation is a prestigious certification that underscores both Priceline and Agoda’s commitment to upholding the highest global standards in international travel management. This recognition not only bolsters Priceline and Agoda’s credibility in the travel sector but also simplifies collaboration with global airlines, enabling more seamless service delivery to travelers.

For digital travel platforms like Agoda, IATA accreditation offers a range of benefits, including enhanced trust with customers, access to exclusive travel products, and preferential pricing on airfare and insurance. It also opens doors to a central database of airline schedules, fares, and automated ticketing systems, leading to increased operational efficiency.

“Achieving the IATA certification for the Indian and Korean market as part of our Group’s GoGlobal accreditation is pivotal for us at Agoda,” stated Andrew Smith, Senior Vice President at Agoda. “This certification not only elevates our standing in the global flights arena but also aligns with our mission to help travelers see the world for less by enhancing our service offerings.”

The Group’s IATA GoGlobal accreditation enables Agoda to access a broad range of local content across several markets, including Australia, Hong Kong SAR, India, Indonesia, Japan, Korea, New Zealand, the Philippines, Singapore, Thailand, and Vietnam.

With a vast network of accommodations, flight options, and activities worldwide, Agoda remains committed to delivering value to its users. Supported by its global connections, Agoda is positioned to continue fostering industry advancements while maintaining a user-centric approach.

————————Ends—————————–

About Agoda: Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of over 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support. 

Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 7,000 staff in 27 markets, dedicated to leveraging best-in-class technology to make travel even easier.

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