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.
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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.
The major companies offering authentication and brand protectionsolutions include AlpVision SA, Authentic Vision, Applied DNA Sciences, Inc., Eastman Kodak Company, De La Rue PLC, Avery Dennison Corporation, Centro Grafico dg S.p.A., Giesecke + Devrient GmbH, 3M, and Arjo Solutionsamong others. Several other companies are also offering these authentication and brand protection solutions, which is facilitating the market to propel over the years.
Impact of COVID-19 Pandemic on Authentication and Brand Protection Market
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.
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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