June 23, 2020
According to the research report titled ‘Authentication and Brand Protection Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; Technology; Application, available with Market Study Report LLC, global authentication & brand protection market was worth USD 2,824.7 million in the year 2019 and is expected to grow with a CAGR of 7.9% during the forecast period, subsequently generating revenues worth USD 5,073.5 million by the year 2027.
Increasing development of counterfeit products across industry verticals such as agriculture, pharmaceuticals, medical devices, automotive components, consumer electronics, chemicals and food & beverages is a major factor driving the growth of authentication and brand protection market. These counterfeit products are not only tough to identify, but also negatively impact the reputation of the original manufacturers.
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Flourishing e-commerce sector has facilitated counterfeit product manufacturers to distribute widely, hence cheating the customers. Strict regulatory scenario pertaining to import & export of products without authentication labels is further aiding the market expansion. Additionally, various governments are undertaking initiatives in order to create awareness regarding counterfeit products, which in turn is stimulating the authentication and brand protection industry outlook.
As per type, authentication & brand protection market is split into digital, forensic, covert and overt. In terms of technology, the industry is divided into authentication ICs, RFID, bar codes, unique codes, OVDS & holograms, security inks & coatings, security printing & tamper-proof labels and others. Based on application spectrum, the market is categorized into food & beverages, chemicals, medical, automotive, consumer electronics and others
The prominent companies operating in global authentication and brand protection industry are Arjo Solutions (Arjowiggins Security), 3M Co., Giesecke+Devrient (G+D) GmbH, Centro Grafico DG S.p.A., Avery Dennison Corp., De La Rue PLC, Authentic Vision, Eastman Kodak Co., Applied DNA Sciences Inc., and AlpVision SA among others.