Global Authentication and Brand Protection Market
Global Authentication and Brand Protection Market Size Set to Touch USD 4.81 Billion by 2029
Published | 22 August 2023
Global authentication and brand protection market is flourishing because of the growing focus on safeguarding product and brand integrity and the emergence of track and trace technologies.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global authentication and brand protection market size at USD 2.69 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global authentication and brand protection market size to grow at a significant CAGR of 8.7% reaching a value of USD 4.81 billion by 2029. Authentication technologies combat threats to the authentication and brand protection and related concerns and mitigate potential harm from counterfeit goods. Amid complex supply chains, transparency and traceability solutions are sought. In the digital era, secure identities and transactions are paramount. These technologies safeguard brand integrity while addressing risks posed by inferior counterfeit products such as pharmaceuticals and electronics. By investing in advanced authentication, companies ensure consumer safety, trust, and a resilient market landscape. However, the limitations of existing technologies is anticipated to restrain the overall market growth during the forecast period.
Global Authentication and Brand Protection Market – Overview
The global authentication and brand protection market encompasses a range of solutions and technologies aimed at ensuring the authenticity of products, safeguarding brand reputation, and countering issues such as counterfeiting and fraud. It involves methods like authentication technologies, traceability solutions, and secure digital identity measures. This market has emerged due to the rising demand from companies to combat counterfeit goods, maintain customer trust, and navigate complex supply chains. The market's core objective is to provide tools that verify the origin and authenticity of products, thereby fostering consumer safety and bolstering brand credibility in a rapidly evolving business landscape.
Impact of COVID-19 on Global Authentication and Brand Protection Market
COVID-19 pandemic adversely affected the global authentication and brand protection market. Supply chain disruptions, remote work, and heightened online transactions created opportunities for counterfeit operations. The market witnessed a transition towards digital authentication solutions to facilitate contactless interactions. However, decreased consumer spending and economic uncertainties hindered extensive investments in brand protection. The pandemic accelerated the demand for secure digital identities, yet budget limitations slowed widespread adoption. Despite challenges, the crisis underscored the necessity for advanced authentication and brand protection measures in an evolving business environment, prompting a renewed emphasis on innovation and resilience.
Global Authentication and Brand Protection Market – By Offering
Based on offering, the global authentication and brand protection market is divided into Security Labels, Security Inks, Holograms, Barcodes, RFID (Radio-Frequency Identification), Authentication Chips, and QR Code segments. The holograms segment held the highest market share by offering due to its multifaceted advantages. Holograms offer a visually striking and easily recognizable form of authentication that acts as a potent deterrent against counterfeiting. Their quick verification process enables rapid authentication, crucial in industries where swift identification is essential. Customizable designs and intricate security features make holograms challenging to replicate, bolstering their effectiveness. Also, holograms often incorporate tamper-evident properties, further enhancing security. They enjoy wide-ranging applications, from consumer goods to official documents, catering to diverse industries. Meanwhile, the barcodes segment is expected to witness the fastest growth rate during the forecast period. This is due to their cost-effectiveness, ease of implementation, efficiency in supply chain management, and widespread acceptance across industries, making them a practical solution for enhancing brand integrity and combating counterfeiting.
Major players operating in the global authentication and brand protection market include Authentix, Avery Dennison, Checkpoint Systems, Domino Printing Sciences, Giesecke & Devrient, Kodak, Lumigent, Manhattan Associates, Oberthur Technologies, Sealed Air, Brady, DE LA RUE, WiseKey, Infineon, Centro Grafico, and Sunchemicals. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Authentication and Brand Protection Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Authentication and Brand Protection Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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- Authentication and Brand Protection Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Offering (Security Labels, Security Inks, Holograms, Barcodes, RFID (Radio-Frequency Identification), Authentication Chips, QR Codes); By Technology (Overt Covert, Digital, Forensic); By Application (Pharmaceuticals, Consumer Electronics, Food & Beverages, Clothing & Apparel, Luxury Goods, Automotive); By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Publish Date: August 2023
An increasing focus on safeguarding product and brand integrity and the emergence of track & trace technologies are projected to propel the expansion of the global authentication and brand protection market during the forecast period between 2023 and 2029.
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