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The authentication and brand protection market was valued at US$3.345 billion in 2022. The authentication and brand protection market was valued at US$3.345 billion in 2022.”
- Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, February 13, 2024 /EINPresswire / -- According to a new report published by Knowledge Sourcing Intelligence, forecasted between 2022 and 2029, Authentication and brand protection market was valued at US$3.345 billion in 2022 and is anticipated to propel significantly over the coming years.
One of the key growth drivers to propel the authentication and brand protection market is the growing counterfeiting and piracy in the global market. Counterfeiting activities have displayed an increase in the market, resulting in an increased focus on authentication and brand protection solutions in the market. Authentication and brand protection ensure consumer safety, preserve brand reputation, maintain legal compliance, and safeguard the intellectual property rights of various businesses in the market. The production and distribution of counterfeit items pose a substantial economic threat to business and also invite significant risks towards the consumer's health and safety. As per the International Anticounterfeit Coalition, the total number of IPR (Intellectual Property Rights) related seizures accounted for 55.7 million in 2020, with a total value of $1.77 trillion. This increase in counterfeiting and piracy has increased the demand for robust and effective authentication and brand protection solutions, which can reduce the spread of such illicit activities and safeguard the interests of both consumers and businesses, further boosting the potential growth of the authentication and brand protection market.
There are many product launches and developments that are taking place in the authentication and brand protection market. For instance, in February 2023, Authentic Vision announced the close of a $6 million Series C funding round to accelerate the company's growth. Authentic Vision is known for being the provider of mobile authentication solutions in the market. The key investors included Custos Privatstiftung (Austria) and Dolby Family Ventures (USA); and several new investors, such as Joint Effects LLC (USA) and key high-net-worth business angels, managed by Smart Family Office (Austria).
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The authentication and brand protection market, based on authentication mode, is categorised into two types- smartphone authentication, and blockchain authentication. The two different authentication modes are designed to identify and authenticate products and services that are available through physical and virtual platforms, with the use of RFID technologies and blockchain technologies.
The authentication and brand protection market, based on technology, is categorised into four types- overt, which are further categorised into security labels & ink, holograms, barcodes, serial numbers & codes, and QR codes, covert, which are further categorised into invisible ink and graphics, and microprinting, forensic, and digital.
The authentication and brand protection market, based on application, is categorised into eight types- electronics, pharmaceuticals, food & beverages, cosmetics, luxury goods, apparel, automobiles, and others. Electronics have the highest rate of counterfeiting in the market, due to the increasing usage of electronics by consumers in their day-to-day activities, leading to consumers preferring cost-effective options.
The Asia Pacific region is expected to witness significant growth in the authentication and brand protection market during the forecasted period. The factor that affects the market is the increase in the production and distribution of counterfeit goods and piracy, leading to an increased risk for businesses and consumers in the market. The Asia Pacific region accounts for the largest population compared to the rest of the world, further leading to the growth of consumption of various goods and services. The increasing consumption of goods and services often consists of various counterfeit items as well, which can be dangerous towards the health of the consumers and also impact the original brand value of the companies. This gives rise to the need for robust and effective authentication and brand protection solutions in the market. As per the International Anticounterfeit Coalition, the total value of IPR-infringing goods that were seized from China accounted for $1.08 billion. This presence of counterfeit goods increases the need for robust authentication and brand protection solutions in the Asia Pacific region, reducing risk and damage towards both the consumers and the companies, further boosting the growth of the authentication and brand protection market during the forecasted period.
The research includes several key players from the authentication and brand protection market, such as 3M Company, Authentix Inc., AlpVision SA, Centro Grafico dg S.p.A, Avery Dennison Corporation, Giesecke + Devrient GmbH., De La Rue PLC, and Brady.
The market analytics report segments the authentication and brand protection market using the following criteria:
.By Authentication Mode:
.Security labels & Ink
.Serial number & codes
.Invisible Ink and Graphics
oFood & Beverages
oThe Middle East and Africa
oAvery Dennison Corporation
oCentro Grafico dg S.p.A
oDe La Rue PLC
oGiesecke + Devrient GmbH.
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.Passive Authentication Market:
.Multi-Factor Authentication Market:
.Authentication-As-A-Service (AAAS) Market:
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