A new report by Allied Market Research, titled, “World Anti-Counterfeit Electronics and Automobiles Packaging – Market Opportunities and Forecasts, 2014 -2020,” forecasts the global anti-counterfeit electronics and automobiles packaging market to grow at a CAGR of 10.1 percent from 2015 to 2020. According to the company’s research, hologram technology will dominate the authentication packaging technology market and is expected to reach $8 billion in 2020. Taggants technology segment is projected to register the highest CAGR of 21.4 percent during 2015 to 2020.
Whether it is fake memory chips or refurbished automotive components sold as new, every year counterfeit electronic goods and automobile accessories surge through the market in large numbers. Businesses and consumers within automotive and semiconductor industry are losing about $3 billion and $75 billion annually, respectively. The high value of counterfeiting has spiked the demand of anti-counterfeit technologies within these industries, according to Allied Marketing Research.
In addition, factors such as advanced tracking technologies and adoption of RFID technology also is contributing to the growth of this market. Moreover, increasing consumer awareness about counterfeit products and rising government efforts to counter electronic and automotive counterfeiting in developed as well as developing nations is supplementing the market growth. However, high cost associated with implementation of product identification setups and impact of anti-counterfeit products on distribution process would limit the market growth.
Conventional authentication technologies such as holograms, inks and dyes are the highest revenue generator in the global anti-counterfeit electronics and automobiles packaging market, owing to their economic pricing and ease of application. Track and trace technologies are gaining popularity as a potential solution for product tracking and authentication. Barcode technology is one of the leading technology in track and trace solutions and is widely used across electronics industry.
To view the report, click here.
