Global Anti-counterfeit Electrical & Electronics Packaging Market Analysis, Trends, Forecast up to 2024
The malpractice of counterfeiting has become a severe matter of concern for the OEMs of (Electrical & Electronics) E&E products across the globe. Counterfeiting is globally affecting the E&E industry, resulting into innumerable tangible and intangible losses for the players operating in the industry. A large number of counterfeit E&E products, carrying brand name of the leading industry players, are making their way into the local market. Apart from affecting the companies financially, the market penetration of such products also causes an enormous damage to the brand image of the affected company, earned over a long course of period.
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The forged electrical & electronics products are so well packaged that there detection during normal investigation becomes impossible and, thus, these products make their way into the local retail markets. The poor quality of these forged E&E products leads to various problems, such as short circuits, small appliance-life, rise in probability of electrical fires, etc., which in turn lead to the further deterioration of the brand image of the affected company. The global electrical & electronics industry endures huge monetary losses every year due to the presence of counterfeit products in the market.
Anti-counterfeit electrical & electronics packaging technology has emerged as one of the most efficient solutions to limit the market infiltration of counterfeited electrical & electronics products globally. Growing population and urbanization is further propelling the demand for E&E products globally. Due to their high demand, E&E products are available virtually in all markets. Easy availability of these products in the local market makes them more susceptible to being counterfeited. Besides, ever-increasing cases of counterfeiting in electrical & electronics products is compelling the market players to go for anti-counterfeit electrical & electronics packaging.
Besides, various new and innovative technologies for the verification and authentication of original electrical & electronic products are making foray into the market. The utilization of such technologies on a commercial scale by E&E OEM manufacturers is leading to the rise in demand for anti-counterfeit electrical & electronics packaging worldwide. High use of this packaging is anticipated to lead to the significantly high growth rate of the market over the forecast period of 2016-2024.
Customers too, in order to skip the trouble caused by forged products and for the best utilization of their money, are becoming increasingly concerned about counterfeited products. Various governments are also becoming increasingly active against the use of counterfeit E&E products. This makes the global companies more optimistic about investing in advanced anti-counterfeit technologies. Due to these reasons, the global anti-counterfeit electrical and electronics packaging market is anticipated to expand at a significantly higher growth rate over the forecast period, accounting for multi-millions US$ by the end of the forecast period.
There are also some factors which are restraining growth of the anti-counterfeit electrical & electronics packaging market currently. High capital expenditure required to set up anti-counterfeit technology systems and usage-impact of this system on the supply chain network of the companies work are the major factors restraining growth of this market currently.
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The global anti-counterfeit electrical and electronics packaging market is segmented on the basis of technology and regions. On the basis of technology, the market is segmented into authentication packaging technology and track and trace packaging technology. The authentication technology segment is further sub-segmented into ink & dyes, holograms, watermarks, and taggants. The track and trace packaging technology segment is sub-segmented into barcode technology and RFID technology.
Some of the key players covered in this study of global anti-counterfeit Electrical & electronics packaging market are Zebra Technologies, Alien Technology Corp., AlpVision, Avery Dennison Corp., SICPA HOLDING SA, Microtrace, LLC, Impinj, Inc. and others.
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