The authentication and brand protection market in MEA is expected to grow from US$ 201. 93 million in 2019 to US$ 375. 00 million by 2027; it is estimated to grow at a CAGR of 8. 4% from 2020 to 2027.
New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Authentication and Brand Protection Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Technology, and Application" - https://www.reportlinker.com/p05978868/?utm_source=GNW
Thriving interests against duplicate consumer electronics products and automotive components are providing a steady growth of the market.In varios developed as well as developing nations the consumer electronics industry and automotive industry had seen a rapid growth in recent years.
This is because of the rise in demand of various automotive components and consumer electronic parts.Although there is a tough competition among the duplicate and genuine products but due to different unavoidable incidents of product failure in case of duplicate products the demand of genuine and legitimate products has grown up which is again positively driving the demand for authentication and brand protection.
The current rising trend in which the people are demanding for genuine products has come into limelight and this among the other factors expected to positively influence the demand for authentication and brand protection.
Based on technology, the barcodes segment led the MEA authentication and brand protection market.Barcodes determine the authenticity of printed packages, products, or materials, instantly by incorporating a patented, proprietary HD barcode into the production process.
While analyzing security methodologies, HD barcode varies from other expensive authentication methods due to its capability to embed vast amounts of data, including 58,000 times more than UPC codes or 175 times more than QR barcodes within a small, configurable 2D barcode.HD barcode can also connect or embed to an exclusive app on the Smartphone, allowing display of fully colored product images that are only be shown when the code is being read.
HD barcode is different from other available 2D barcodes because a unique identification number has been assigned to each manufacturer, which can only be used by them and authorized personnel.Manufacturers are also being provided with "code generation" software, which is kept alienated from readers to print the HD barcodes.
When generating the codes, the manufacturer creates an "unrevealed password" proprietary to only them. There is no "back door," and reader software can be time-stamped so only approved staff can know the information for a particular time frame within the code. The formation of the system follows different patterns which helps stops an individual to decode an HD barcode. As a concluding security step, an ID card with a unique HD barcode may be provided to authorized personnel, which is needed be scanned before the application is usable or activated, thus preventing the personal and confidential data from being lost or stolen. The COVID-19 outbreak has sternly affected several MEA countries. Iran, Turkey, Israel, and Saudi Arabia, are the worst-hit countries in the region. The countries are undertaking significant measures in combating the growth of the virus by imposing strict regulations of the movement of humans, such as lockdown. This has negatively impacted the manufacturing sectors as a result of less human workforce in the manufacturing facilities. Fewer production results in less profit, which leads to less investment towards the adoption of advanced technologies. The market is expected to experience the repercussions as the COVID-19 crises slows down the production. COVID-19 has spread at a swift pace across the MEA. The pandemic has been affecting economies & industries and is estimated to further create massive bottlenecks in businesses due to lockdowns, travel bans, and supply chain discrepancies. This has impacted the authentication and brand protection market at a considerable extent.
The overall MEA authentication and brand protection market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the authentication and brand protection market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the MEA authentication and brand protection. Key players operating in the MEA authentication and brand protection market include Applied DNA Sciences, Inc.; Avery Dennison Corporation; De La Rue PLC; Eastman Kodak Company; 3M.
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