The authentication and brand Protection market in North America is expected to grow from US$ 920. 4 million in 2019 to US$ 1608. 8 million by 2027; it is estimated to grow at a CAGR of 7. 6% from 2020 to 2027.
New York, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Authentication and Brand Protection Market to 2027 -COVID-19 Impact and Analysis by Type ; by Technology ; and by Application" - https://www.reportlinker.com/p05953795/?utm_source=GNW
Growing concerns about duplicate consumer electronics products and automotive components is bolstering the growth of the market.The consumer electronics and automotive industries have witnessed unprecedented growth over the years in developed and developing countries.
The demand for these products continues to surge every year.With the rise in demand for consumer electronics and automotive components, the supply chain of these products is disrupted with counterfeit products.
The emergence of the grey market for both consumer electronics and automotive components has reflected several unavoidable incidents. This has led the global population to demand legitimate and genuine products, which is further driving the demand for authentication and brand Protection.
The overt segment led the authentication and brand protection market, based on type, in 2019.The overt authentication and brand protection are visible to the naked eye, and allows consumers, inspectors, and government agencies to identify the package’s authenticity quickly.
Micro-optic lens films, holograms, and embossed optical films, and state-of-the-art complex security printing software are a few of the open technologies that can be used to design brand safety labels.A common practice for an advanced, multi-layered protection plan involves combining strong overt security elements with covert or tracking safety technologies.
The visible security features in the authentication stack serve a valuable purpose.They allow individuals to inspect packaging without any special tools, and the specialized color-shifting inks are often difficult to reproduce using scanners or reprographic methods.
Technologies commonly employed for overt security include optically variable inks, pearlescent inks, gold and silver inks, anti-tampering techniques (tamper-evident closures and labels), and optical security technologies (holographic seals and labels). These technological advancements drive the authentication and brand protection market in North America. Further, the COVID-19 pandemic is affecting various industries in North America, and directly impacting the spending. According to the Center for Strategic and International Studies, as an impact of this pandemic, the US is experiencing decline in GDP in the second quarter of 2020. In response to the outbreak, governments of the countries in North America continue to enforce the temporary shutdown of retail stores and manufacturing plants, indicating an unprecedented disruption of commerce. Retailers and brands are facing various short-term challenges regarding health and safety, supply chain, labor force availability, cash flow, consumer demand, and marketing.
The overall North America 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 North America authentication and brand Protection market with respects 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 that are typically associated with this process include industry expert 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 North America authentication and brand protection market. AlpVision SA, Applied DNA Sciences, Inc, Authentic Vision, Avery Dennison Corporation, De La Rue PLC, Eastman Kodak Company, 3M are among the players operating in the market in North America.
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