PORTLAND, Oregon, May 20, 2015 /PRNewswire/ --
A new report by Allied Market Research, titled, "Global Anti-counterfeit Packaging Market in Security Documents and Event Ticketing- Industry Analysis, Size, Growth, Trends, Opportunities, and Forecast, 2014-2020", forecasts the market to grow at a CAGR of 9.5% during 2015 - 2020. The authentication technology market would remain the dominate segment, with about 63% revenue share by 2020, owing to economic pricing and high performance of security inks. Barcode technology would be the fastest growing segment at a CAGR of 10.3% during 2015-2020.
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Counterfeiting of confidential documents and government records has risen invariably during past years. The increasing financial burden on governments arising from mass counterfeiting is fueling the demand for anti-counterfeit technologies. The multilayer security methodologies, such as security inks and holograms, exhibits a substantial market share in the authentication technologies market. The growing adoption of tracing technologies such as, RFID and Barcode in product tracking and inventory management, would gain significance over the forecast period. The market for emerging tracing technologies, namely Bubble Tag, could face limitations in adoption due to the lower return on investment and operational complexities. Lack of awareness for authentication solutions among local manufacturers and the high cost of technologies would limit the market growth. However, active initiatives from the anti-counterfeit trade associations and government authorities across the world would eventually result in an increased level of awareness for anti-counterfeit technologies. Furthermore, a considerable increase in investments, by manufacturers would expedite the market growth during the forecast period.
Key finding of the study:
- Ink and holograms collectively hold about 93% of the market share in 2014 and is expected to grow at moderate pace
- North America will continue to lead the global market, closely followed by Europe, all through to the forecast period
- Asia-pacific is projected to be the fastest growing region with an estimated CAGR of 10.5% from 2015 to 2020
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North America and Europe constitute the two largest regions for security documents and event ticketing anti-counterfeit packaging market and collectively accounted for about 84% of the revenue in 2014. Higher adoption rates, active measures from governments and trade associations along with the growing awareness for tracing technologies largely contribute to growth of market in these regions. Heavy malpractices of document forgery, especially of bank notes and official records in developing countries result in a significant demand for authentication technologies.
Giesecke & Devrient (G&D), Sicapa and Reconnaissance International are the leading market players globally. Other key manufacturing companies profiled in the report are, Graphic Security Systems, Corp., Alpvision, Giesecke & Devrient (G&D), Prooftag (Novatec SA), IAI industrial systems, U-NICA Group and, Sicapa.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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SOURCE Allied Market Research