The Europe authentication and brand protection market is expected to grow from US$ 872.24 million in 2019 to US$ 1477.17 million by 2027; it is estimated to grow at a CAGR of 7.2%from 2020 to 2027.
The ever-growing concern about duplicate automotive and consumer electronic components is driving the growth of Europe authentication and brand protection market. Europe has a vast automotive component industry, with significant numbers of players across various countries; Germany is the hub of most of the automotive industry players. The increased demand for new brands of vehicles and manufacturers entering the market has increased the demand for auto parts, which in turn has spurred the market for the counterfeit parts. Several incidences of vehicle breakdown and accidents have highlighted the usage of counterfeit products; however, it has negatively impacted the vehicle manufacturer’s image. With an objective to avoid the repetition of such incidents, the OEMs, aftermarket players, wholesalers, and dealers are seeking authorized and genuine auto parts. The rising demand for authenticating products among end users is propelling the original component manufacturers to adopt product authentication solutions.
The overt segment led the Europe 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. 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, which ultimately drives the Europe authentication and brand protection market.
The active COVID 19 pandemic has slowed down the growth of the authentication and brand protection market in countries such as Germany, Italy, and the UK. The majority of the countries have imposed lockdowns and restricted traveling, causing the industries to face a severe impact on production as a result of less labor footfall.
The overall Europe 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 Europe 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 primary respondents participating in 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 Europe authentication and brand protection market. AlpVision SA; Authentic Vision; Applied DNA Sciences Inc.; Eastman Kodak Company; De La Rue PLC; Avery Dennison Corporation; Centro Grafico dg S.p.A.; Giesecke + Devrient GmbH; 3M; and Arjo Solutions are among the key market players operating in this region.