CHICAGO, June 27, 2023 /PRNewswire/ -- The authentication and brand protection market is expected to reach USD 4.3 billion by 2028 from USD 2.9 billion in 2023, at a CAGR of 8.3 % during 2023-2028 according to a new report by MarketsandMarkets. The major factors driving the market growth of the authentication and brand protection market include increasing prevalence of counterfeiting and intellectual property infringement across various applications, including electronics, pharmaceuticals, apparel and luxury goods. The adoption of blockchain technology for brand protection is increasing due to its decentralized, transparent, and immutable ledger capabilities.
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Browse in-depth TOC on "Authentication and Brand Protection Market"
145 - Tables
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202 - Pages
Authentication and Brand Protection Market Report Scope:
Report Coverage | Details |
Market Revenue in 2023 | $2.9 billion |
Estimated Value by 2028 | $4.3 billion |
Growth Rate | Poised to grow at a CAGR of 8.3% |
Market Size Available for | 2019-2028 |
Forecast Period | 2023-2028 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Technology, Offering, Authentication Mode, Application, Region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Constant evolution of counterfeiting and fraudulent practices |
Key Market Opportunities | Development of Remote Authentication Solutions |
Key Market Drivers | Emergence of Trace and Track Technologies |
This facilitates advanced authentication, traceability, and anti-counterfeiting measures. Through blockchain, brands can verify the authenticity of products, trace their origin, and maintain transparency across the supply chain. The availability of advanced technologies and solutions can support brand protection efforts. For example, urban areas can have better infrastructure for implementing track-and-trace systems, deploying digital authentication solutions, and utilizing data analytics to identify and mitigate brand abuse risks.
Smartphone segment is expected to account for the largest share of the authentication and brand protection market during the forecast period.
Smartphone authentication is expected to account largest market share during the forecast period. Leveraging smartphones for product authentication provides a convenient and accessible method for consumers to verify the authenticity of a brand's products. With the rise of counterfeit products and product diversion, brands face significant challenges in maintaining the integrity of their products and protecting their reputation. By implementing smartphone-based authentication solutions, brands can establish a reliable and secure system to differentiate genuine products from counterfeits and identify any instances of product diversion.
The security labels application is projected to account for significant share of authentication and brand protection market in 2022
Security labels and inks are designed materials that bolster the security and legitimacy of products, documents, or packaging. Their primary purpose is to safeguard against counterfeiting, tampering, and unauthorized handling. These labels are designed to show visible signs of tampering or alteration if an attempt is made to remove or manipulate them. These labels may include features like frangible materials, security cuts, or adhesive patterns that leave a residue when peeled off, indicating tampering. Tamper-evident label seals are highly reliable and applicable to all supply chain stages. Security labels find applications in industries such as electronics, pharmaceuticals, food & beverages, automotive, and luxury goods. Owing to these features, security label and inks are expected to contribute major share in the said market.
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Asia Pacific is expected to register the significant CAGR during the forecast period
The growing pharmaceutical, electronics and automobile applications in the Asia Pacific region is expected to drive the authentication and brand protection industry. Various countries in Asia Pacific, such as China, Japan, and India are focusing on developing and utilizing authentication and brand protection offerings. Rapid urbanization leads to population growth and the expansion of cities, resulting in a larger consumer base and increased demand for products and services. This growth creates opportunities for brands to expand their market presence and establish stronger brand protection measures to meet the rising demand during the forecast period.
The report profiles key players in authentication and brand protection companies such as Authentix, Brady, DE LA RUE, Avery Dennison, WiseKey, Infineon, Centro Grafico and Sunchemicals and so on.
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