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.
Portland, OR -- (SBWIRE) -- 10/02/2017 -- The global Anti-counterfeit Packaging (Security document and event ticketing) Market generated revenue of $22.8 billion in 2014 and is forecast to reach of $38.3 billion by 2020, at a CAGR of 9.5%, over the forecast period. Two major factors influencing the adoption of anti-counterfeit packaging technologies in security documents and event ticketing are, intellectual damage to the company in the form of goodwill and economic damage to consumer. Thus, the adoption of novel technologies for document tracking would reduce the impact of economic damage and further boost the adoption of the anti-counterfeit packaging 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 globe 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.
Geographically, the report is segmented into North America, Europe, Asia Pacific, and LAMEA. North America anti-counterfeit technology market holds major share closely followed by Europe. Higher adoption rate of authentication technologies, active intervention from government authorities are largely responsible for the growth of the North America anti-counterfeit packaging market. The Asia-pacific region, is anticipated to witness fastest growth during the forecast period.
Key finding of Anti-Counterfeit Packaging Market in Security Documents and Event Ticketing:
- 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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