Report : Middle East and Africa Authentication and Brand Protection Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Overt, Covert, Forensic, and Digital), Technology (Security Printing & Tamper Proof Labels, Security Inks & Coatings, OVDS and Holograms, Unique Codes, Bar Codes, RFID, Authentication ICs, and Others), and Application (Consumer Electronics, Automotive, Medical, Chemical, Food & Beverage, and Others)
Bar Codes Segment to Dominate MEA Authentication and Brand Protection Market during 2019–2027
According to The Insight Partners market research study on “MEA Authentication and Brand Protection market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, Application and Country” is expected to reach US$ 375.00 million by 2027 from US$ 201.93 million in 2019. The market is estimated to grow at a CAGR of 8.4% from 2020 to 2027. The report provides trends prevailing in the SAM authentication and brand protection market along with the drivers and restraints pertaining to the market growth. Demand for genuine products is coming to limelight is the major factor driving the growth of the MEA authentication and brand protection market. However, issues such as simulation of authentication labeling is slowing the rise of MEA authentication and brand protection market.
The market for authentication and brand protection market is segmented into type, technology, application and country. Based on product type, the market is segmented into overt, covert, forensic and digital. In 2019, the overt segment held the largest share MEA authentication and brand protection market. Based on technology, authentication and brand protection market is divided into security printing & tamper proof, security inks & coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICs and others. Digital is expected to be the fastest growing segment over the forecast period. On the basis of application the market is segmented into consumer electronics, automotive, medical, chemical food & beverage and others. Bar codes segment accounts for largest market share in the 2019. Furthermore 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 footfall 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.
Applied DNA Sciences, Inc.; Avery Dennison Corporation; De La Rue PLC; Eastman Kodak Company; 3M are among the leading companies in the MEA authentication and brand protection market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Kodak announced the availability of the Kodak Traceless Anywhere System for anti-counterfeiting. The solution is designed to help brand owners, companies, and authorities to counterfeit and product diversion.
MEA Authentication and Brand Protection market – By Country