Report : South America 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)
According to The Insight Partners market research study on “SAM 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$ 168.66 million by 2027 from US$ 93.12 million in 2019. The market is estimated to grow at a CAGR of 8.1% 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 getting emphasized is the major factor driving the growth of the SAM authentication and brand protection market. However, issues such as authentication labeling is being replicated hinder the growth of SAM 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 SAM authentication and brand protection 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. 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 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 SAM region, and directly impacting the spending. According to the Center for Strategic and International Studies, owing to COVID-19 impact, the Brazil 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 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.
Applied DNA Sciences, Inc.; Arjo Solutions (Arjowiggins Security); Avery Dennison Corporation; De La Rue PLC; Eastman Kodak Company; 3M are among the leading companies in the SAM 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 unveiled about its investment plan in new factory at Brazil which is expected to be involved in manufacturing a range of Radio Frequency Identification (RFID) inlay designs. Further, this investment also represents an important step for industry 4.0 growth throughout South America, with technology’s ability to increase inventory accuracy, increase visibility, and improve supply chain agility across all channels, besides allowing greater customer interaction and engagement.
SAM Authentication and Brand Protection market – By Country