Authentication and Brand Protection Market Revenue, Future Growth, Top Key Players, Trend Insights and Investment Opportunities Forecast to 2028

According to our latest study on "Authentication and Brand Protection Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Technology, Application, and Geography," the market is projected to grow from US$ 3.3 billion in 2022 to US$ 5.5 billion by 2028; it is estimated to record a CAGR of 8.9% from 2023 to 2028.

According to a report published by Invest India, the National Investment Promotion and Facilitation Agency, domestic electronics production in India increased from US$ 49 billion in 2016-2017 to US$ 87.1 billion in 2021-2022. With increasing manufacturing activities, the government has started focusing on reducing the threat of counterfeit products. For instance, the Trademarks Act (TMA), which provides civil and criminal remedies for trademark counterfeiting, is the principal legislation in India among all statutory laws regarding counterfeiting. According to the Authentication Solution Providers' Association (ASPA), the Central Government of India has made the stamping of the Quick Response (QR) code on the labels of all active pharmaceutical ingredients (APIs) mandatory on all imported and domestically manufactured goods from January 2003 onwards. Thus, companies can track the goods at various stages, including packaging and delivery ones. Thus, the growing focus of governments on implementing stringent anti-counterfeiting regulations favors the authentication and brand protection market growth.

Get Sample PDF Copy at @ https://www.theinsightpartners.com/sample/TIPRE00009317/?utm_source=OpenPR&utm_medium=10212

Brand protection entails deploying processes, technologies, services, and resources to counter misleading, illicit, or fake representations of products or services. In addition to the continuous expansion of the manufacturing sector, the emphasis on safeguarding brand and product integrity, enactment of stringent anti-counterfeiting standards, and regulations enforced by government agencies favor the growth of the authentication and brand protection market. With the rising vulnerability to counterfeit attacks, diversions, and tampering problems, a large number of brand owners are facing the obligation of addressing these issues to protect their business interests. While working on a robust product authentication plan, they are focusing on establishing a comprehensive brand protection program involving legal marketing entities, law enforcement, customs, and investigation.

Top Industry Players Including :

•JDS Australia
•Pure Technologies
•Structural Monitoring Systems
•Acellent
•Campbell Scientific
•Nova Metrix
•Sixense
•Digitexx
•Bridge Diagnostics
•RST Instruments

The counterfeit products arena is expanding at a rapid rate-encompassing offerings of industries such as food & beverages, chemicals, consumer electronics, automotive components, medical devices and pharmaceuticals, and agriculture. With growing forgery issues, many industries-ranging from tobacco to consumer electronics-are veering toward authentication and brand protection technologies. Counterfeit products are difficult to distinguish from their original counterparts, and duplicate products tarnish companies' brand image as they may pose a potential danger to end users. An upsurge in e-commerce businesses has led to a rise in counterfeit product trade. Several countries have imposed strict rules regarding the import and export of goods and commodities without product authentication labels. In addition, governments worldwide are undertaking initiatives to create awareness related to an upsurge in counterfeiting operations. According to the European Anti-Fraud Office (OLAF), 531 million cigarettes, more than 205 tons of raw tobacco, and 65 tons of water-pipe tobacco were seized as illicit products in 2020. Different initiatives by the governments to control the illicit tobacco trade creates a massive opportunity for the growth of the authentication and brand protection market.

Inquiry Before Buying At @ https://www.theinsightpartners.com/inquiry/TIPRE00009317/?utm_source=OpenPR&utm_medium=10212

The market of counterfeit products is growing rapidly worldwide, encompassing industries such as food & beverages, chemicals, consumer electronics, automotive components, medical devices, and pharmaceuticals. In recent years, medical device end users have incurred significant losses due to the use of duplicate products. According to an article published in the Hindu newspaper, incidents of substandard and falsified (SF) medical products rose by ~47% from 2020 to 2021 during the COVID-19 pandemic. However, the end users in the current market scenario are becoming more aware of the advantages of genuine products. Hence, they are progressively veering toward authentic medical devices. Moreover, medical device manufacturers are progressively investing in the procurement of product authentication solutions to ensure their customers receive original products, which allows them to retain their customers over the long term. This factor is bolstering the demand for authentication and brand protection solutions. Pharmaceutical manufacturers are facing significant challenges with an increasingly large number of fake medicines crowding the market. Hence, supplying authenticated drugs has become essential for pharmaceutical industries. As a result, the need for product authentication solutions has surged in this industry.

Based on technology, the global authentication and brand protection market is segmented into security printing &, tamper proof labels, security inks & coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICS, and others. In 2022, the bar codes segment dominated the Authentication and Brand Protection market share. Barcodes instantly determine the authenticity of printed packages, products, or materials by incorporating a patented, proprietary HD barcode into the production process. In 2022, the Indian government started an initiative to eliminate counterfeit medicines from the Indian markets. For that, the country developed a 2D barcode feasible solution. The newly issued draft regulations in 2022 by India's Ministry of Health and Family Welfare (MoHFW) placed the 2D barcode on drug packages to avoid exporting counterfeit medicines and producing counterfeit medicine in the Indian market.  Moreover, Ralph Lauren introduced QR-based digital ID for polo apparel. Labels give each item a unique digital identity, and it can be accessed by scanning the QR with a smartphone. The authentication process will help combat counterfeit goods, gray market goods, and trademark infringement that can disrupt the market. Such Initiatives are expected to fuel the growth of bar codes segment in th authentication and brand protection market during the forecast period.

The research provides answers to the following key questions:

What is the estimated growth rate of the market for the forecast period 2023-2028? What will be the market size during the estimated period?
What are the key driving forces responsible for shaping the fate of the Authentication and Brand Protection market during the forecast period?
Who are the major market vendors and what are the winning strategies that have helped them occupy a strong foothold in the Authentication and Brand Protection market?
What are the prominent market trends influencing the development of the Authentication and Brand Protection market across different regions?
What are the major threats and challenges likely to act as a barrier in the growth of the Authentication and Brand Protection market?
What are the major opportunities the market leaders can rely on to gain success and profitability?

Buy Now At @ https://www.theinsightpartners.com/buy/TIPRE00009317/?utm_source=OpenPR&utm_medium=10212

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi

E-mail: sales@theinsightpartners.com    

Phone: +1-646-491-9876

 About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

This release was published on openPR.