Transparency
Market Research Report Added "Anti-counterfeit
Automobile Packaging Market". Counterfeiting or forging
is a worldwide phenomenon which not only affects the growth of
industries but also affects the end-users of their products.
Companies are becoming progressively conscious of the potential
negative effects of counterfeit parts in their supply chain, which
affect the sales revenue of the company. Besides, since the quality
of the counterfeit product does not match with that of the original
product, it also affects the brand image of the company. The forged
components are so well developed that they are undetectable in normal
conditions and thereby find application in critical areas, such as in
automobile spare parts and maintenance. The usage of such components
results in poor product quality and thus increases consumer safety
concerns, which leads to the deterioration of the brand image of the
concerned company.
Counterfeiting
affects the company’s gross revenue and results in immense long
term damage to its credibility in the market. In the automobile and
aerospace industries, the costs incurred due to usage of forged and
counterfeit parts are estimated to be in multi-millions.
The anti-counterfeit
automobile packaging technology has emerged as an efficient solution
for detecting counterfeit products globally. The automobile industry
is severely affected by counterfeit products as they are easily
available in the local market. The Motor & Equipment
Manufacturers Association (MEMA) conducted a survey in 2013 regarding
the losses suffered by the global automobile industry due to
counterfeiting. The results of the survey estimated losses close to
US$ 12 Bn, which obviously is a significant amount.
Due to the severe
increment in counterfeit products in the automobile industry, the
anti-counterfeit automobile packaging market is expected to witness
noteworthy growth over the forecast period.
The global
anti-counterfeit automobile packaging market is projected to become a
multi-billion industry, growing significantly over the forecast
period of 2016-2024. Innovative technologies are coming into market
for tracking and authentication of the original products, which are
easy as well as very efficient in functioning. Their increasing
adoption in the market, in turn, is propelling the demand for
anti-counterfeit automobile packaging globally. Use of product level
RFID technologies is one of the most significant factors expected to
drive the growth of the overall anti-counterfeit automobile packaging
market.
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Rising consciousness
among consumers about the forged or counterfeit products and
anti-counterfeit technologies is also affecting the market
positively. Increasing government regulations and efforts taken in
order to eliminate the usage of counterfeit products in the
automobile industry is also increasingly driving the companies to
invest in advanced anti-counterfeit technologies. The synergistic
approach of industrial players, along with various government
organizations, is expected to provide a platform for the growth and
development of the global anti-counterfeit automobile packaging
market over the forecast period.
Apart from the above
beneficial properties, there are several others factors restraining
growth of the market for anti-counterfeit automobile packaging. Among
these, high costs of anti-counterfeit setups and their impact on the
product distribution system are the major factors expected to
restrain growth of the anti-counterfeit automobile packaging market
over the forecast period.
The global
anti-counterfeit automobile packaging market is segmented on the
basis of technology and regions. On the basis of technology, the
market is segmented into authentication technology and track and
trace packaging technology. The authentication technology segment is
further sub-segmented into ink & dyes, holograms, watermarks, and
taggants. On the other hand, the track and trace packaging technology
segment is sub-segmented into barcode technology and RFID technology.
On the basis of
geography, the global anti-counterfeit automobile packaging market is
segmented into seven main regions, namely North America, Latin
America, Western Europe, Eastern Europe, Asia Pacific excluding
Japan, the Middle East & Africa, and Japan. Currently, North
America accounts for the largest share of the global anti-counterfeit
automobile packaging market, followed by the Europe market. The
Asia-Pacific anti-counterfeit automobile packaging market is also
expected to expand at a significant growth rate over the forecast
period.
Some of the Key
Players in the global
anti-counterfeit automobile packaging market are FUJIFILM Holdings
America Corporation, Alien Technology Corp., AlpVision, Avery
Dennison Corp., Datamax-O'Neil (Honeywell), Giesecke & Devrient
(G&D), and IAI Industrial Systems
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