The authentication and brand protection market in SAM is expected to grow from US$ 93. 12 million in 2019 to US$ 168. 66 million by 2027; it is estimated to grow at a CAGR of 8. 1% from 2020 to 2027.
New York, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "South America Authentication and Brand Protection Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Technology, and Application" - https://www.reportlinker.com/p05978920/?utm_source=GNW
Rise in duplicate consumer electronics products and automotive components is boosting the demand for authentication and brand protection.The consumer electronics industry including the automotive industry have witnessed vast and rapid developments over the years in both developed and developing countries.
The requirements of these products remains to grow year-on-year.With the rise in demand for consumer electronics and automotive components, these products’ supply chain is disrupted with counterfeit products.
The evolution of the grey market for both consumer electronics as well as automotive components has displayed various unavoidable incidents.This has further led the SAM population to ask for genuine and legitimate products, which is further driving the demand for authentication and brand protection.
The recent emphasizing demand for genuine products is among the other factors expected to positively influence the demand for authentication and brand protection.
Based on type, the overt segment led the authentication and brand protection market in 2019.Overt authentication and brand protection is visible to the naked eye, and it allows consumers, inspectors, and government agencies to identify the package’s authenticity quickly.
Micro-optic lens films, holograms, embossed optical film, and state-of-the-art complex security printing software are few of the available technologies that can be used to design brand security labels.It is a standard practice to link vital overt security elements with covert or tracking security technologies for an advanced, multi-layered protection strategy.
The visible security features in the authentication stack serve a valuable purpose.They offer a way for 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 factors ultimately drive the authentication and brand protection market. Furthermore, the COVID-19 pandemic is affecting various industries in the SAM region and directly impacting the spending. According to the Center for Strategic and International Studies, owing to COVID-19 impact, Brazil would experience contraction in GDP in the second quarter. The COVID-19 pandemic continues to enforce the temporary closure of retail stores & manufacturing plants in the countries of SAM, signaling an unprecedented disruption of commerce. Retailers and brands are facing various short-term challenges regarding health and safety, supply chain, labor force, cash flow, consumer demand, and marketing. Brazil has had the worst hit in the region, with the number of positive cases continuing to surge on a daily basis. The outbreak of COVID-19 has weakened the manufacturing volume and trade in Brazil and other countries in SAM.
The overall SAM 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 SAM authentication and brand protection market. Applied DNA Sciences, Inc.; Avery Dennison Corporation; Arjo Solutions (Arjowiggins Security); De La Rue PLC; Eastman Kodak Company; 3M are among a few players operating in SAM authentication and brand protection market.
Read the full report: https://www.reportlinker.com/p05978920/?utm_source=GNW
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