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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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/C O R R E C T I O N — Applied Intuition, Inc./

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17 minutes ago

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May 2, 2026

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In the news release, Applied Intuition Collaborates with Heidelberg Materials to Advance Innovation in Quarry Operations with Autonomous Haulage Fleets, issued 30-Apr-2026 by Applied Intuition, Inc. over PR Newswire, we are advised by the company that changes have been made. The complete, corrected release follows, with additional details at the end:

Applied Intuition Collaborates with Heidelberg Materials to Advance Innovation in Quarry Operations with Autonomous Haulage Fleets

Deployment brings intelligent, vehicle-based autonomy to Australia, establishing a new operating model for construction and mining environments.

SUNNYVALE, Calif., April 30, 2026 /CNW/ — Applied Intuition, Inc., a leader in physical AI, today announced its collaboration with Heidelberg Materials, one of the world’s largest integrated manufacturers of building materials and solutions, to deploy autonomous haulage systems for Heidelberg Materials’ quarry operations, starting at a site in Australia.

Applied Intuition will provide its Self-Driving System (SDS) for Construction to support autonomous haulage operations within Heidelberg Materials’ fleet of construction and mining vehicles in Australia. The deployment marks the next real-world application of Applied Intuition’s autonomy platform in industrial environments. Upon successful completion, it will support the expansion of autonomous operations within Heidelberg Materials’ broader Australian network.

The collaboration also challenges the standard industry model. While autonomy solutions traditionally target the largest quarry sites, this system is designed for smaller operations, including those running just two 40-ton trucks, making it deployable across quarry sites of varying size worldwide.

“No two quarry or construction sites operate the same way, with different layouts, constraints and economics,” said Qasar Younis, co-founder and CEO of Applied Intuition. “We’ve built our platform to adapt to that reality. This partnership shows we can take the same core system used in large mining operations and apply it to smaller, infrastructure-constrained quarry sites, scaling it across hundreds of unique locations.”

For Heidelberg Materials, the partnership is aimed at enhancing safety and operational performance. It also reflects the need for an autonomy solution that can operate at large sites and smaller ones too, whereas traditional autonomous haulage systems are often too infrastructure-heavy or costly to scale. For Applied Intuition, it serves as a proof point that its autonomy platform is designed not just for one-off deployments, but for global scale across construction, quarry and mining environments of any size.

Applied Intuition’s system runs directly on the vehicle, with integrated perception, decision-making and safety systems onboard, enabling reliable operation without constant connectivity or heavy site infrastructure.

The collaboration builds on Applied Intuition’s growing presence in construction and mining autonomy and reinforces its broader physical AI strategy. The same core platform has already been deployed in other industries, including trucking and defense, with learnings from each domain contributing to continuous system improvements. Applied Intuition’s SDS platform strategy also enables the company to bring technologies proven in other domains into construction and mining, helping accelerate development and deployment.

Through this project, Applied Intuition demonstrates the range of its autonomy platform, from some of the largest mining trucks in the world to smaller quarry vehicles operating in constrained, lower-infrastructure environments. Together, these deployments highlight the company’s approach to building scalable autonomy for construction and mining from the ground up.

To learn more about how Applied Intuition is building the future of construction autonomy, visit applied.co.

About Applied Intuition
Applied Intuition, Inc. is powering the future of physical AI. Founded in 2017 and now valued at $15 billion, the Silicon Valley company is creating the digital infrastructure needed to bring intelligence to every moving machine on the planet. Applied Intuition services the automotive, defense, trucking, construction, mining and agriculture industries in three core areas: tools and infrastructure, operating systems and autonomy. Eighteen of the top 20 global automakers, as well as the United States military and its allies, trust the company’s solutions to deliver physical intelligence. Applied Intuition is headquartered in Sunnyvale, California, with offices in Washington, D.C.; San Diego; Ft. Walton Beach, Florida; Ann Arbor, Michigan; London; Stuttgart; Munich; Stockholm; Gothenburg, Sweden; Bangalore; Seoul; and Tokyo. Learn more at applied.co.

Correction: An earlier version of this release incorrectly stated the location of the site noted in the first paragraph.

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SOURCE Applied Intuition, Inc.

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MOREH Demonstrates Production-Ready LLM Inference on Tenstorrent Galaxy, Achieving DGX A100-Class Performance with Improved Cost Efficiency

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May 2, 2026

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Reduces HBM Costs with GPU–Tenstorrent Heterogeneous Distributed Serving
First unveiled at Tenstorrent’s launch event, TT-Deploy, in San Francisco on May 1

SANTA CLARA, Calif., May 1, 2026 /PRNewswire/ — Moreh, an AI infrastructure software company, led by CEO Gangwon Jo, announced that it has successfully validated LLM inference performance on the Tenstorrent Galaxy Wormhole system using its proprietary ‘MoAI Inference Framework.’

Based on tests across leading Mixture-of-Experts (MoE) models—including GPT-OSS, Qwen, GLM, and DeepSeek—Moreh achieved LLM inference performance on Tenstorrent Galaxy Wormhole matching or surpassing NVIDIA DGX A100-class systems, demonstrating a compelling alternative to conventional GPU-centric AI infrastructure.

Moreh also improved cost efficiency by implementing a disaggregated serving architecture that combines GPUs with Tenstorrent Wormhole chips. By utilizing Tenstorrent processors as dedicated prefill accelerators, the company reduced reliance on high-cost HBM and lowered overall infrastructure costs.

The results were first unveiled at Tenstorrent’s launch event, TT-Deploy, held on May 1 in San Francisco.

As a strategic partner of Tenstorrent and a major external contributor to Metalium, Moreh showcased a live LLM inference demo at the event. Building on its experience operating AMD GPU-based production environments in real-world data centers, the company presented its latest technical achievements in ‘Production-Ready LLM Inference on Tenstorrent Galaxy.’

MoAI Inference Framework is a disaggregated inference solution that enables unified operation of heterogeneous GPUs and NPUs—including NVIDIA, AMD, and Tenstorrent—within a single cluster. This allows enterprises to build flexible AI infrastructure strategies without vendor lock-in.

Moreh CEO Gangwon Jo stated, “Achieving production-grade LLM inference performance and stability on Tenstorrent-based systems marks a significant milestone,” and added, “We will continue to enhance performance through deeper optimization across heterogeneous architectures and closer integration with Tenstorrent NPUs.”

Moreh is developing its own core AI infrastructure engine and, through its foundation LLM subsidiary Motif Technologies, is building end-to-end capabilities spanning both infrastructure and model domains. Simultaneously, the company is making its mark in the global market through collaborations with key partners such as AMD, Tenstorrent, and SGLang.

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SOURCE Moreh

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US Startup PerZeption Inc. Announces Collaboration with Alcon Research

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17 minutes ago

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May 2, 2026

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BOSTON, MA, May. 1, 2026 /PRNewswire/ — Advancements in vision correction evaluation require methods that offer both precision and efficiency in detecting clinically meaningful visual differences. Addressing this need, PerZeption is set to present new data validating its AIM+ CSF modeling technology at the Association of Research in Vision and Ophthalmology (ARVO) annual meeting.

Attendees are invited to learn more about this innovative approach during the poster session on May 4, 2026, from 11:15 AM to 1:00 PM, at posterboard #0941.

“We are very excited to collaborate with Alcon, one of the largest companies within the Ophthalmology sector worldwide. “, Dr. Jan Skerswetat said. “The results, presented by Dr Derek Nankivil, indicate that our technology enables rapid, repeatable, and highly sensitive assessment of contrast vision.”

The abstract, titled ‘AIM+ CSF modeling enables efficient detection of clinically meaningful visual differences,’ outlines how PerZeption’s technology supports sensitive, low-burden visual assessment for vision correction evaluation. Data indicates that with approximately six adaptive displays of stimuli and two repeats, studies show around 20 subjects can achieve 90% power to detect a 1 JND (Just Noticeable Difference) change in AULCSF (Area Under the Log Contrast Sensitivity Function). This research also demonstrates AIM+ CSF’s stable repeatability in less than 3 minutes, absence of bias, and robust performance, validating its role as an effective tool for objective visual performance evaluation.

This joint effort highlights a shared dedication to advancing ophthalmology research and developing precise tools for visual assessment. The ARVO annual meeting serves as the world’s foremost event for ophthalmology research, offering a vital platform for sharing scientific breakthroughs and fostering dialogue within the global vision science community.

“In addition to all the exciting research presentations that leverage PerZeption technology at this years’ ARVO meeting, we are also proud to be showcasing PerZeption’s battery of functional tests at our booth, #4027.” Dr. Skerswetat added and noted that there will be opportunities to try out our technology.

This presentation at ARVO represents a significant step in the validation and recognition of PerZeption’s contributions to advanced visual assessment technologies.

About PerZeption Inc
PerZeption delivers vision testing with a rapid, self-administered, and adaptive psychophysical platform delivered via cloud-based software on standard tablets or all-in-one computers. Our flagship platform, Angular Indication Measurement (AIM), enables testing of over 20 visual functions. Our novel approach equips researchers and clinicians with a comprehensive range of visual functions and introduces new tests for which there are no currently available devices. We reduce chairtime. Self-administered tests on a single device in combination with proprietary methods that rapidly assess vision, reduce user’s burden and require minimal training or space, unlike bulky, specialized single-use devices. Finally, cloud-based delivery supports secure in-clinic and remote testing, ensuring consistent, trackable results for clinicians and pharmaceutical companies. 

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SOURCE PerZeption

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