Authentication and Brand Protection Market Witnessing Tremendous Growth with 7.9% of CAGR by 2027
The authentication and brand protection market is highly fragmented with the presence of numerous players. However, many of the players are offering numerous innovativesolutions. The demand for end-to-end holisticsolutions, offering a combination of the systems that can effectively authenticate, and track and trace, is growing around the world. The escalating use of mobile apps for tracking products by scanning the codes is also creating immense growth opportunities for the authetntication and brand protection market players. Further, companies are also providing end-to-end online solutions to monitor intellectual property violations, including patent and design violation along with trademark or brand infringements. The timely identification of such violations assists in taking crucial steps in time. Emerging countries with highly unorganized sectors can leverage the ongoing advancements in the authentication and brand protection landscape for keeping check on counterfeiting. In addition, blockchain aids in enhancing the efficiency, transparency, and security of global supply chains. The technology can be beneficial in preventing the duplication of products, enabling real-time tracking of authentic products. Bloackchain is still an emerging technology and is projected to have a positive impact on the authentication and brand protection market in the years to come.
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As per the latest market study on “Authentication and Brand Protection Market Forecast to 2027- COVID-19 Impact and Global Analysis Type (Overt, Covert, Forensic, and Digital), Technology (Security Printing and Tamper Proof Labels, Security Inks and Coatings, OVDS and Holograms, Unique Codes, Bar Codes, RFID, Authentication ICs, and Others), Application (Consumer Electronics, Automotive, Medical, Chemical, Food & Beverage, and Others)– Global Analysis and Forecast”,the authentication and brand protection marketis estimated to reach US$ 5,073.5 Mn by 2027 from US$ 2,824.7 Mn in 2019. The report includesa key understanding of the factors driving market growth and also highlights the prominent players in the market and their developments.
North America holds the largest share in the authentication and brand protection market, followed by Europe and APAC. Further,APAC is projected to register the highest CAGR during 2020–2027.The market for authentication and brand protection has been segmented on the basis of type, technology, application, and geography. The market based on type is further segmented into overt, covert, forensic, and digital. The overt segment is expected to hold a prime share of the authentication and brand protection market during the forecast period.The authentication and brand protection market, by technology,is segmented into security printing and tamper-proof labels, security inks and coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICS, and others.The bar codes segment led the authentication and brand protection marketin 2019, and it is projected to continue its dominance during the forecast period.The market, based on application, has been segmented into consumer electronics, automotive, medical, chemicals, food & beverages, and others.The food & beverage segment led the market with the largest share in 2019.
Development of integrated solutions provide growth opportunities for authentication and brand protection market players
Strategic Insights
Market initiative is a strategy that is primarily adopted by companies to expand their footprint across the world and meet the growing demand of their customers. The market players present in authentication and brand protection market are mainly focusing on the development of advanced and efficient products. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world, they maintaintheir brand name globally. Most of the market initiative were observed in North America, APAC and Europe regions.
- In 2020, Avery Dennison unveiled its investment plan in new factory at Brazil, which is expected to be channelized in the manufacturing of a range of RFID inlay designs. Further, this investment is also important for industry 4.0 growth throughout South America, with technology’s ability to increase inventory accuracy, increase visibility, and improve supply chain agility across all channels, besides allowing greater customer interaction and engagement.
- In 2019, Arjo Solutions participated in CPHI exhibition Frankfurt to showcase its products and services related to brand protection.
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