The authentication and brand protection market was valued US$ 2,824.7million in 2019 and is expected to reach US$ 5,073.5 million by 2027; it is estimated to grow at a CAGR of 7.9% during 2020–2027.
The COVID-19 is anticipated to cause huge disruptions in Asia Pacific. The governments of Asia Pacific countries are taking all possible steps to reduce the impact of the spread of this virus through country-wide lockdown, which is impacting the revenue generated by the market. The Airports Council International (ACI) Asia Pacific warned that the prolonged duration of COVID-19 outbreak would drastically impact the region’s airports connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact the regional growth in the coming years.
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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.
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.
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.
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