Author: Himanshu Patni
21 November 2022
One of the key elements for every business to maintain its position in the market is branding. Companies invest a lot of money in establishing their brand image, yet counterfeiters can readily utilize that brand name to sell their own items. The most valuable assets for businesses to maintain their reputation in the market are their physical products, which are difficult for corporations to secure. Intangible brand assets, such as the brand name, logo, or slogan, are protected by copyrights and trademark filings. A company’s reputation, sales, and long-term relationships with business partners are all negatively impacted by counterfeiting, which also hurts the reputation of the genuine brand.
Businesses are putting more emphasis on protecting the integrity of their brands as concerns over product counterfeiting rise. They are using technology for authentication. The Authentication and Brand Protection Market is expected to grow at a steady rate of around 5% owing to the rising awareness about health and hygiene among end-users. Moreover, the rising living standards of people which is encouraging them to buy the best quality products for their day-to-day lives. People across the globe are opting for Authentication and Brand Protection that offer components that are biodegradable such as natural washing soda, coconut oil, plant-based enzymes, and mineral-based surfactants. All these factors will bring lucrative market opportunities for key players in the upcoming years.
Based on technology, the market is segmented into overt, covert, forensic, and digital. The overt segment grabbed the major market share and dominated the market in 2020. The solutions for overt brand protection can be utilized for both consumer and investigative certification of product authenticity. Holograms, intricate security printing, and embossed optical films are a few of the overt authentication options available. Furthermore, overt technology-based trademark protection and authentication solutions are aesthetically pleasing and reasonably priced.
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On the basis of offerings, the market is categorized into Security Labels, Security Inks, Barcodes, RFID, QR Codes, and Others. Among these, the barcode segment grabbed the major market share and dominated the market in 2020. The growth in the e-commerce sector is one of the prominent reasons contributing to the market growth of this segment. Barcode labels help to extract accurate data about the product or services within microseconds; hence the driving force for using barcode labels is to reduce human error. The second major factor in using this technology is data security. Every organization wants to encrypt its data with high-level security which will not be easily traceable by outsiders.
For a better understanding of the market adoption of the Authentication and Brand Protection industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Asia Pacific region dominated the market and grabbed major market share in 2020. However, the North America region is expected to witness the highest CAGR during the forecast period on account of rising disposable income and the growing trend for eating out in the countries such as China, India, and Japan.
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Some of the major players operating in the market include Authentix, Avery Dennison, Brady, De La Reu, Wisekey , Infineon , Merck Group , Assa Abloy, Centro Grafico, Sunchemicals.
Global Authentication and Brand Protection Market Segmentation
Market Insight, by Technology
Market Insight, by Offerings
Market Insight, by Application
Market Insight, by Region
Top Company Profiles
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