The global authentication and brand protection market size are expected to reach USD 5.04 billion by 2030, according to a new study by Polaris Market Research. The report “Authentication and Brand Protection Market Share, Size, Trends, Industry Analysis Report, By Authentication Mode (Smartphone Authentication, and Blockchain Authentication); By Technology; By Offering; By Application; By Region; Segment Forecast, 2022-2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rising need for safeguarding product and brand integrity and stringent laws make the market more tangent over the forecast period. Branding is crucial to any company's ability to maintain its market position. Companies invest heavily in strengthening brand image; however, counterfeiters easily exploit brand recognition to sell counterfeit goods. Brand equity assets such as the branded version, logo, or tagline are safeguarded by copyright and trademark filings. Still, businesses struggle to safeguard their physical products, which are among the most important assets for companies to maintain their market image.
In addition, counterfeiting influences a company's financial performance and sales, the brand image of the accurate brand and the trust built with business associates. With growing concerns about product counterfeit goods, corporations are rapidly focusing on safeguarding the authenticity of their brands. Authentication techniques such as barcodes, RFID, holographic, and tamper-evident sealants and tapes are used. As a result, retailers, distribution companies, and end users could indeed check the authenticity of products using the industry's instructions.
Furthermore, the market is growing owing to the stringent anti-counterfeiting legislation and government regulations. For instance, the Trademarks Act 1999 is the primary legislation in India that governs trademarks. The act establishes both civil and criminal legislated remedies for copyright violation. As a result, these government regulations for the protection of a brand are the major factor boosting the market growth over the forecast period.
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Additionally, the growing omnichannel online retail advantage benefits the overall market. It provides numerous advantages such as effective production allocation, improved inventory management, and real-time inventory accuracy. Growing urbanization is increasing the potential for several brands' and businesses' reach, allowing individuals to have better access to trustworthy brands, which is stimulating demand for the market in the forecast period.
Authentication and Brand Protection Market Report Highlights
Polaris Market Research has segmented the authentication and brand protection market report based on authentication mode, offering, technology, application, and region:
Authentication and Brand Protection, Authentication Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Authentication and Brand Protection, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
Authentication and Brand Protection, Offering Outlook (Revenue - USD Billion, 2018 - 2030)
Authentication and Brand Protection, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Authentication and Brand Protection, Regional Outlook (Revenue - USD Billion, 2018 - 2030)