Report : North America Authentication and Brand Protection Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type (Overt, Covert, Forensic, and Digital); by Technology (Security Printing & Tamper Proof Labels, Security Inks and Coatings, OVDS and Holograms, Unique Codes, Bar Codes, RFID, Authentication ICs, and Others); and by Application (Consumer Electronics, Automotive, Medical, Chemical, Food & Beverage, and Others)
Overt Segment to Dominate North America Authentication and Brand Protection Market during 2019–2027
According to The Insight Partners market research study on “North America Authentication and Brand Protection Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Technology, and Application” is expected to reach US$ 1608.8 Mn by 2027 from US$ 920.4 Mn in 2019. The market is estimated to grow at a CAGR of 7.6% from 2020 to 2027. The report provides trends prevailing in the North America authentication and brand protection market along with the drivers and restraints pertaining to the market growth. The boosting demand for genuine products and growing concerns over duplicate consumer electronics products and automotive components are the major factor driving the growth of the North America authentication and brand protection market. However, issues associated with counterfeiting of authentication labeling hinder the growth of North America 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 North America mineral insulated heating cable market. Based on technology, authentication and brand protection market is divided into security printing & tamper proof, security inks and coatings, OVDS and holograms, unique codes, bar codes, RFID, authentication ICs and others. Authentication ICs 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 and beverage and others. Bar codes segment accounts for largest market share in the 2019. Furthermore, COVID-19 pandemic is affecting various industries in the North America region, and directly impacting the spending. According to the Center for Strategic and International Studies, owing to COVID-19 impact, the US would experience contraction in GDP in the second quarter. The pandemic COVID-19 continues to enforce the temporary closure of retail stores & manufacturing plants in the countries of North America, 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.
AlpVision SA, Applied DNA Sciences, Inc, Authentic Vision, Avery Dennison Corporation, De La Rue PLC, Eastman Kodak Company, 3M are among the leading companies in the North America 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, in 2020, Avery Dennison Corporation acquired Smartrac’s Transponder business for the purchase price of €225 million. Smartrac is a leading innovator in the development and manufacture of RFID inlays, which in turn supports Avery Dennison Corporation to strength its capabilities for RFID technology.
North AmericaAuthentication and Brand Protection, By Country, 2019 and 2027 (%)
The report segments the North America authentication and brand protection market as follows:
North America Authentication and Brand Protection market – By Type
North America Authentication and Brand Protection market – By Technology
North America Authentication and Brand Protection market – By Application
North America Authentication and Brand Protection market – By Country