The key players operating in the Authentication and Brand Protection Market are authentication and brand protection market is estimated to be worth USD 2.9 billion in 2023 and is projected to reach USD 4.3 billion by 2028, at a CAGR of 8.3% during the forecast period. Increasing need for preserving brand reputation, ensuring consumer safety, maintaining legal compliance, and safeguarding intellectual property rights as well as rising cases of counterfeiting and piracy of products in various applications such as pharmaceutical, food & beverage and electronics are some of the major factors driving the authentication and brand protection market growth globally. , Driver: Emergence of Trace and Track Technologies , Various emerging technologies, such as blockchain, are used for traceability in the supply chain. Blockchain functions like a database, holding information in a digital ledger consisting of individual blocks, with each new transaction added to the chain. Traceability technologies allow users to get the entire detailed data of the supply chain, which offers valuable and actionable insights, which, in turn, influences a company’s efficiency, transparency, and profitability. Apart from the authentication of the product, blockchain also helps trace the origin of the product and track it through the entire logistical chain. It helps manufacturers maintain an efficient supply chain and check whether the product has been delivered to the right location within the required time. The data obtained from track & trace technologies also helps companies analyze their best functioning depots, distributors, and identify efficient supply routes. , Restraint: Limitations of Existing Technologies , The conventional technologies employed for authentication, such as RFID, barcodes, and holograms, have inherent limitations that can be exploited by counterfeiters. For example, 2D codes, including QR codes, can be easily copied. A simple replication of a QR code duplicates its full functionality, making it difficult for QR code readers to differentiate between the original and copied codes. , Holograms, which are integrated into many security-sensitive products like credit cards and banknotes, possess intricate details, structures, and reflective characteristics that are challenging to replicate. Despite advancements in hologram technology, their primary function remains cosmetics. Counterfeiters, through careful study, can deceive non-experts, as they can order branded and customized holograms of any shape, size, and design, making it nearly impossible to detect a counterfeit hologram. , Opportunity: Development of Remote Authentication Solutions , As reported by the OECD and the European Union's Intellectual Property Office, the trade in counterfeit and pirated goods has reached approximately 3.3% of trade. Based on customs seizure data, the estimated value of globally imported counterfeit goods in 2019 was around USD 509 billion. Several companies are offering remote authentication solutions to combat counterfeiters in response to this issue. With remote authentication, users can scan product images and upload them to a company's website to determine the authenticity of the product. This technology, developed by AlpVision, aims to reduce counterfeiting in the market. , Challenge: Constant evolution of counterfeiting and fraudulent practices , As counterfeiters become more sophisticated in their methods, it becomes increasingly challenging for businesses to develop effective and foolproof authentication solutions. The rapid growth of online marketplaces and digital platforms also presents a challenge, as it provides a convenient avenue for counterfeiters to distribute their fake products globally. Additionally, the nature of supply chains and the prevalence of cross-border trade make it difficult to track and control the movement of counterfeit goods. Businesses operating in the authentication and brand protection market must continuously innovate and adapt their solutions to stay ahead of counterfeiters while also collaborating with regulatory bodies, industry associations, and technology providers to tackle this ongoing challenge. , Authentication and Brand Protection Market: Key Trends , The prominent players in the authentication and brand protection market are Authentix, Brady, DE LA RUE, Avery Dennison, WiseKey, Infineon, Centro Grafico and Sunchemicals and so on. These authentication and brand protection companies boast anti-counterfeiting and tracking and tracing trends with a comprehensive product portfolio and geographic solid footprint. , Overt technology to account for the largest share of the authentication and brand protection market in 2028. , Usage of authentication solutions has resulted in the emergence of multiple authentication and brand protection technologies. Among these, overt technology has established itself as a prominent technology in the authentication and brand protection market. Overt is expected to dominate during the forecast period as they are typically more affordable compared to covert (hidden) or forensic measures. Authentication and brand protection offerings with covert technology can be integrated into product packaging or labels without significant additional production costs. This cost-effectiveness makes overt measures a practical choice for many brands, leading to their higher market share. All these factors are expected to surge the market growth for overt authentication and brand protection technology during the forecast period. , QR Code segment to contribute largest market share in the authentication and brand protection market during forecast period. , In 2023, QR Codes is expected to grow at the fastest rate during the forecast period as it offers a convenient and versatile solution for product authentication, enabling consumers to quickly verify the genuineness of a product using their smartphones. QR codes effectively track and trace products throughout the supply chain, helping brands monitor and prevent counterfeiting or gray market activities. Also, advancements in technology have made QR code scanning accessible to a wide range of users, contributing to their rapid adoption, and making them a cost-effective and scalable option for brand protection. All these factors are expected to provide a significant surge for QR Codes in in the authentication and brand protection market. , The pharmaceutical application to register highest CAGR as well as market size in the authentication and brand protection market during the forecast period. , The pharmaceutical application is expected to dominate the authentication and brand protection market with the highest market size in 2028 and is expected to grow at a significant CAGR during the forecast period. In pharmaceutical applications, authentication and brand protection is crucial as counterfeit pharmaceutical products not only jeopardize patients health but also tarnish the reputation of pharmaceutical companies. Robust brand protection measures are necessary to safeguard intellectual property, comply with regulations, prevent revenue loss, and combat the distribution of counterfeit drugs. By preserving the authenticity and quality of their products, pharmaceutical companies can instill confidence in healthcare professionals and patients, and ultimately contribute to the well-being and trustworthiness of the entire pharmaceutical industry. All these factors is expected to escalate the demand for authentication and brand protection offerings in pharmaceuticals in the authentication and brand protection market. , Furthermore, pharmaceuticals are subject to stringent regulations to ensure drug safety, efficacy, and quality. Brand protection measures help companies comply with regulatory requirements and demonstrate their commitment to patient safety and regulatory compliance. These factors are fueling the authentication and brand protection market growth. , North America held the largest market share of the authentication and brand protection market in 2028 , North America accounted for the largest market share of the authentication and brand protection market in 2028. North America is one of the prominent regions for pharmaceutical and food & beverage applications. Various companies in North America are investing and focusing on the development novel authnetication and brand protection techonology. The presence of key players in this region, along with a large customer base, is among the major factors driving the authentication and brand protection market in North America. Additionally, rules and regulations implemented in the countries of the region to check counterfeiting activities have been fostering market growth in the region. All these factors are driving the growth of the authentication and brand protection market in the region. , Recent Developments , In April 2023, Authentix, announced its acquisition of Royal Joh. Enschedé, a prominent specialty printing and security solutions provider based in the Netherlands. Koninklijke (Royal) Joh. Enschedé has evolved from a humble book printer to an esteemed security printing company recognized for its production of security documents, postage stamps, banknotes, and brand protection solutions. , In May 2022, Avery Dennison aimed at expanding its manufacturing capacity and improving factory efficiency in Europe to meet growing demand for its label and packaging materials. , In March 2021, Wisekey expanded its products and services portfolio for brand protection with the combination of Artificial Intelligence (AI) and NanoSeal secure Near Field Communication (secure NFC) technology. The nanoseal ecosystem includes a complete product authentication server and database management. , KEY MARKET SEGMENTS, By Technological , Overt , Covert , Digital , Forensic , By Authentication Mode , Smartphone , Blockchain , By Offering , Security labels and inks , Holograms , Barcodes , RFID/NFC , Authentication Chips , QR Codes , By Application , Electronics , Pharmaceuticals , Automobile , Food & beverage , Apparel , Luxury Goods , Cosmetics , Others , By Region , North America , Europe , Asia Pacific , Rest of the World, KEY MARKET PLAYERS , Authentix, Brady, , DE LA RUE, , Avery Dennison, , WiseKey, , Infineon, , Centro Grafico , Sunchemicals.
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